What is/ was your best buy?

and why?

 

My last purchase, because I am more in debt (using OPM to grow my Net Worth)

 

deceased 2 bedroom 1970 brick veneer in original condition on central coast located on a main road.

bought in 2010 as was same price as renting and with FHB grant $0 down.

has doulbed in value since even though terrible purchase in retrospect

 

My first buy. Because after a taste I was hooked.

 

the next buy.

 

The next one.

 

Mt Druitt 600% at the height of the bloom. Make that boom.

 

A dump in 2008
Everyone said I was nuts
With 2 st frontages, held for 2.5 years, lived in it for a while when renovating elsewhere, then the ex lived in it until it sold as part of the break up.

Had it properly surveyed as it was old title when I bought it, this actually increased the sqm enough to allow subdivision. Made quite a tidy profit

 

You always only want to use Other People's Money to get ahead you lazy fox. Didnt daddy teach you using others for your benefit is not playing nice!

 

Properties we bought over 10 years ago would be the easy answer .... reason is that “time” has been kind to their values.

Having said that... one IP bought in 2012 has probably increased the fastest in percentage and then again out current PPOR is a build on a knock down site that we got a for a good price in 2015 in hindsight...

So ... I can’t say one is “better” than the rest, they all work for us in different ways and different reasons.

 

Your problem, op, is that you need to be sure before you buy. Thats a mistake.

What your not asking is what is your best buy, and how did you feel about it when you bought it?

Say you bought in sydney during the gfc. Now you are still minting it. But you dont feel as good as you did 2 years ago. When you boughg it here was a real risk everything might collapse. You wouldnt have thought it was a great buy for 5+ years.

 

My PPOR. A Sydney Northwest Metro station is now 2 months from opening.. and it's a 400m walk.
And in a year or so, there will be an ALDI (I believe), and other little shops between my house and the station, so can walk to shops, and cafes etc.

 

As you know, it is a dog-eat-dog world out there or maybe a fox-eat-fox world .

That is the first time I have ever been labeled as “lazy” .

My Dad taught me that one has to use others if one wants to be successful (one can’t make it on their own).

He always stressed that the other people must benefit from my utilisation of them BUT to always ensure my benefit was greater than theirs .

That always made sense to me.

 

That's true, maybe I should add that into the question, how did you feel at the time, did you/ others already know it was going to be a good buy?

 

You sound like a meanie fox....bad influence on me...

 

We bought a house in 2014 in a good eastern suburb in Melbourne before the madness. Built 3 and sold 2 of them in 2017 at the height of the market. Got my own unit for free (almost) Still the best investment of my life.

 

Do you mean you replaced the house with 3 units?

 

Agree with @Sackie - the first one.

Studio in Potts Point - grew 60% in 2 years, gave me the deposit for next 2 properties, and started my love of property.

 

Close tie between a property I purchased in Sydney 10 years ago and one I purchased in the US in 2012.

If I had to choose I’d probably go with the US purchase because of the dollar change since then. Bought for $US280k when the dollar was at $1.05 and is now worth around $US450k with the dollar at $0.71.

However the cream has been that it’s been positively geared (after a p&i loan and all expenses) by at least $US800 per month since purchase and the interest rate is fixed at 3.6% for the life of the loan.

- Andrew

 

It would be my PPOR and then IPs, mainly houses on land. PPOR was in 1989 and IPs from year 2000. Because looking now say 19 years ahead, I pay heaps of land tax but I owe a lot of land...that can be redeveloped and capital growth occurred.
As MY said, "property is a game of finance with few properties thrown in".
So yes it depends where one is in investment journey and what is the expectation or end goal. MY also said to be truly wealthy from IPs we need around 30 years, to take advantage of the cycles and growth, as CG not CF makes you truly wealthy.