NSW Who wished they purchased in Sydney

Blast from the past.... yes Sydney did well...you beautiful thing, but I am thinking I need to start a thread.....

Who Wished they had purchased in Melb??? or

Who Wished they had purchased in USA......

Just having fun....

 

then immediately start a thread Panic Setting in Melbourne.... just to confuse the duck out of forum members

 

... bump, a little twist... cycles, all fun and games

As market is softening......Anyone wished they bailed out of Sydney now???

MTR

 

Good to review what happened...I have a couple Sydney...all have gone up 400-600%...now they are headed down...selling none of dem!

But what surprised me was the one outside of Sydney the growth has been just as good or even better.....

1. Brand new 3 Brm T/H Watanobbi more like a house- bought in 2012 for 232k....now around 460k.
2. House in Woy Woy - bought for 263k on 2010...now knocking on 750k still a little growth
3. House in Barrack Heights - bought for 232k in 2012 now over $580k still a little growth
4. House in Tenambit bought for $205k in 2012 - now over $390k and still growing planning to sell this this year...I expect it to get to 420k plus....
5. Brand new 3 Brm House in North Albury more like a house- bought in 2009 for 120k....now around 190k and just in an upward phase..will sell this soon....

....and like the sands through the hour glass..another cycle begins.....the train for Sydney has left.....Melbourne has just about arrived....Brisbane, Hobart, and Adelaide are transit...dems the cycles.....

 

Stop stirring or else I need to give you a spankin'

I am sure there will be a few regrets.....

 

wow, man, that is amazing !!!

 

Lol

 

Hey Sash,

Awesome results mate, but that's 100% growth, not 400% - 600% odd isn't it? 400% - 600% would be 4x or 6x the purchase price and that would be one hell of a cycle!!!

On my side, I've held all three of the units I developed in Mona Vale back around 2010-ish. If you recall, I purchased the block for around $700K and whacked three units on it for around $1.3M so all in costs around $2M. They're now worth almost that much each. Total valuation is about $5M today and I'm still holding all 3.

We went to Sydney at Christmas with the intent to tidy up one of them and sell it. Well, we did the tidying up and made it look amazing with paint inside and out and a whole lot more landscaping both hard and soft, but decided in the end to keep holding. We love the place so much and consider holding all three together is so unique and valuable. Rents just keep going up each year. We just relet the one we tidied and added $100 a week to it. Others going up about the same.

Our dream now is to pay off all debts by selling our PPOR in Brisbane and a couple of the other little properties around QLD then move back to Mona Vale and live in one of the units. We could then AirBnB the other two and live off the circa $500 a day each they'd bring in. (Anyone see My Instant Hotel?) Might even buy a yacht and put it in Pittwater so I can take charter sails out and offer discounts to our AirBnB clients... Ah, its nice to dream...

Cheers,
Michael

 

Great result. congratulations..yes Monavale did very well.

The 400-600% examples are:

1. Meadowbank Unit - 2 brm bought for 90k in mid ninties...now 560k plus
2. Campse Unit - large 2 brm bought for 153k...now 600k plus
3. Dulwich Hill - 1 brm bought for 95k...now 500k plus

I expect these to drop about 10% as the cycle of growth....ebbs out....

You plan looks great but is too active for a lazy man like me.....

 

Michael... how awsome

 

Yeah, I'm thrilled. For everyone who watched the development play out, they know how hard it was to achieve. But the results now are well and truly worth it...

There's another thread on retiring on circa $75K pa in passive income. If we did nothing else other than pay all our debt off and retain these three then we achieve that. Our PPOR in Brisbane just valued at $1.5M and cost us only $800K to develop as Owner Builders (that's a whole other blog I didn't do and even more interesting than Mona Vale)... So, if we sell our Brisbane PPOR and our other three small IPs we pay off all debt and hold Mona Vale. They're rented at $1,000pw each, so living in one and renting the other two leaves us with $100K pa passive income. More if we AirBnB.

All looking OK for an early retirement around 50. I turn 48 this year!! Getting old...

Great to hear from you!! I've been away from here for a while and hardly post as you can see.

Cheers,
Michael

 

I think Mona was your first development??

You nailed the timing, captured Syd growth, now repeat this in Brisbane market

Great to have choices

MTR

 

When ya jumpin' into Brissie MTR

 

Not ready yet, just watching

 

$2 bitecoin an hour for spectators.....

 

Watchin others makin moolah?

 

Royal Motor or PA ?

From what I've heard PA has dropped down the social ladder since they closed the cafeteria . Royal Motor seems to be the go to social hub now .

Cliff

 

Meadowbank was one place we wished we bought more than 1 back in 1999 / 2000 and then wished we had the finances to hold it, but had to sell and upgraded to a 4bd house when the kids came along as the banks wouldn't touch us with only a 10% deposit. still did excellent with the house but would have been really nice with the house and unit.

 

Wow Michael you have done very well and congratulations!