Where is your last/next purchase?

IP in Success (southern suburb in Perth).

Its a retain and build at rear. Front house is a solid 1980s brick and tile 3 x 1 rented in 1 week post settlement thanks to my gun PM, for a discount as it will be a development site come the new year.

8 minutes walk to Cockburn Central, 12 minutes to the train station, and 3 minutes to the freeway by car. Dockers stadium getting built nearby which from what I understand will be community hub: Work to begin on $109m Freo home in Perth

Its a long term hold so not overly fussed we are in a declining market but the valuer did comment that the location is in a desirable part of Success so hopefully it will defy the trend.

Next purchase will probably be a land banker that I can rent for now and develop once the Perth market shows signs of improvement.

Looking to add funds to my SMSF as the 3 year goal as discussed with my strategic accountant is to buy a CIP to operate the business from and also sub let to other businesses. This one alone should be able to fund a decent retirement as the plan is to own outright within 15 years which is when I will be able to access it.

Will add the max contributions per quarter of $12,500 to the SMSF and invest in ETFs until we hit critical mass and the right CIP appears.

I did read an article by Steve McKnight a while back and he answered the question;

"What would you do differently if you could do it all again"?

His answer was;

"Invest in well located CIPs"

 

That was my last purchase.

My most recent purchase (50/50 TIC) is a splitter block in the City of Belmont, Perth.

We bought because it was the first splitter block in the area to list for under $500k (which got my attention). Upon inspection there were a number of issues with the property which caused valuers to value the property less than the fundamentals would indicate. Currently we are renovating to convert the house from 3x1 to a 4x2 without extending. That was the appeal of the property because recently renovated 4x2's are in high demand in the area. Interesting project.

Long term, the property will be cashflow positive, which makes it an easy hold. Down the track we will demo and build 2 houses.

 

Last: 4x2x2 in Wynnum West, Brissie. Will be a bit of a set and forget for the next decade, at least, but it's a corner block so one day the numbers may stack up for dual living...

Next: Throwing elbows in the Sydney market for a PPOR...

 

Last: PPOR in Chandler, Brisbane,
Why: great renovation potential (tearing it apart as we speak) and large 4040m2 block for privacy, kids to play and future land/scarcity value.

Next: q1 2017, when renos finished, something with a decent yield in greater brisbane, maybe a duplex on one title.
Why: See Brisbane looks good thread!

 

All 5708 replies to the thread???...wait...most of those replies are probably mine anyway

 

If you don't mind disclosing. What price would someone be looking to pay for a character home beachside in Adelaide? And how far away is the beach from Adelaide city?

Thanks

 

Last: land in Lake Macquarie for PPOR build. Why? Instant equity on completion of build, close to my work. Land is surrounded by new builds, has new schools and shopping centres in pipeline.

Next: Commercial or dev site.

 

S McK USA Fund asset class - are all CIPs in Atlanta, Dallas and Florida.

 

Last purchase- in Brisbane
Next purchase- development/subdividable block in Newcastle - offer accepted
Next next purchase- Reno in Newcastle
Brisbane is looking good for me so far. And also I am confident about Newcastle.
But now I have spent what we have saved for Sydney crash

 

Nice

There won't be a crash in Sydney is my thought. Correction, yes. No crash.

 

Last purchase just settled, 1010m2 in Bayswater. Going into council next week for 3x townhouses.

Next purchase will be as soon as I sell my Northcote townhouse development and free up some $$$ to buy the next one. Hopefully in the next 3-5 months.

 

Atlanta, USA, a renovation, a flip

 

4/2/2 in Newport qld for low 400s.
Next: somewhere over the rainbow

 

Lol like the avatar @ej89

 

Haha thanks bud. There's a great fb page called Logan memes

 

Ha have to check it out