What's that feeling?

Yes. Pushing hard. I've made a strong offer. Offer ends COB tomorrow.
It's a development block.

 

I used to believe it's 'all about numbers', and while i still think the numbers are important. .nowadays i think the qualitative factors are equally important. I've seen places where 'the numbers' look good.. but when you take a step back and look at the entire deal (location, current cycle time, demographics, supply, etc) .you realize you'll be waiting till doomsday for capital growth.

 

I've withdrawn my offer. Back to the drawing board. I learnt an absolute bucketload in 24 hours, again.

I'm not one for public accolades, but I am grateful for the WHOLE lot of help and/or moral support from @RPI , @Rolf Latham and @Steven Ryan , also again.

 

@Bran why? Did you find a deal breaker?

 

All that worry for nothing! Only gets easier.

 

yep. Well @RPI did.

 

That's what the 'team' are for.

Everyone needs to be aligned in your goals.

And don't be hard on yourself. Its not 'back to the drawing board' - you said so yourself you just learned a lot in 24hrs. That means you have a new, higher base of knowledge.

pinkboy

 

All good then

You gotta feel that one again on the next deal maybe

 

Indigestion gone?

 

The best part of going waaaay out of your comfort zone is how good everything feels up to your new limit.

 

Can you let us know some details now?
By the way, good on you for having the guts to withdraw your offer -- maybe you felt like that for good reason.

 

It was a development block, but what I wanted to do had a hurdle. It can be done more easily elsewhere.
I don't like keeping secrets, but I simply cannot seem to get into the market.
There might be one property a fortnight that seems to tick the boxes ,and you lot have all the same boxes

 

Numbers are you friend but you'll be second guessing yourself for months over it. Keep looking at the spreadsheets and count the little dollar signs on the sheep to get to sleep.
There is definitely a lot of adrenaline going around when you make an offer and it's accepted.
Congratulations, it's HUGE scary ginormous step. It's like a tarantula step

EDIT: I posted this before I saw the 'withdrawal' post. Darn. Come buy something in Perth

 

@Bran
Some battle scars for ya mate . Anyone who gets far and quite successful will accumulate some. Good on you for persevering and not giving up in the face of challenges. Most people don’t even get to the 'scarring stage' as they give up at the 'sacrificing lifestyle to invest' stage, imo

 

If the market's that hot should you really be looking to buy there? Don't end up paying too much just because of peer pressure (not saying that's what's happening)/hype or FOMO. There are other places where you could realistically expect the same gains. Unless you believe that there's only one city in the whole world that is going to experience house price growth and/or where you can manufacture growth in the near future.

 

Yes, Sydney

 

he he, yep, that's the place to try next imo

 

Way to go!, we're steering the newbies now to OTP, overpriced units in Syd.... Their hopes of CG will be eaten up as fast as flesh in that croc's jaws

 

Just don't forget to put that on 100yrs IO. 95% LVR, Don't use your own cash for this, pay big LMI as a "tool to increase your wealth." etc etc That's what my mentor said anyway

 

Your mentor sounds cool to me