NSW Who wished they purchased in Sydney

Discussion in 'Where to Buy' started by MTR, 24th Jul, 2015.

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  1. MTR

    MTR Well-Known Member

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    @D.T.
    Have you got any in Sydney??


    MTR:)
     
    Last edited: 24th Jul, 2015
    MTR, 24th Jul, 2015
    #41
  2. benvolio

    benvolio Member

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    this haunts me on a regular basis. cant let it go. massive regret as i missed on a few houses in 2013
     
    benvolio, 24th Jul, 2015
    #42
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  3. MTR

    MTR Well-Known Member

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    USA better outcome in terms of yields and growth I believe, however you can not leverage in US that is the difference.
     
    Last edited: 24th Jul, 2015
    MTR, 24th Jul, 2015
    #43
  4. MTR

    MTR Well-Known Member

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    Good for you:)
     
    MTR, 24th Jul, 2015
    #44
  5. MTR

    MTR Well-Known Member

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    Good work:)
     
    MTR, 24th Jul, 2015
    #45
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  6. MichaelW

    MichaelW Well-Known Member

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    Hi MTR,

    No regrets here. I weathered the criticisms from the Bear crowd over on SS when I was doing my multi-unit development in Mona Vale. Every man and his dog was telling me Sydney was set to crash and there was no margin in my development. Well, I held all three at completion and they now value over $1M each.

    I sold my former PPOR in Sydney but don't regret that either as it freed the cash to develop my new PPOR in Brisbane. That just valued between $1M and $1.3M at completion and cost me only $750K. If See Change's predictions for Brisbane to boom next come true then I'll also be holding gold there as well.

    All good. :D

    Cheers,
    Michael
     
    MichaelW, 24th Jul, 2015
    #46
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  7. Steven Ryan

    Steven Ryan Well-Known Member

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    To everyone who regrets...where are you buying NOW to avoid future regret? ;)
     
    Steven Ryan, 24th Jul, 2015
    #47
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  8. OC1

    OC1 Well-Known Member

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    You don't buy to avoid future regret. You buy to make money and make the best decision you can at that particular time.
     
    OC1, 24th Jul, 2015
    #48
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  9. Sackie

    Sackie Well-Known Member

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    Agree. It also depends on how much equity and serviceability you have at the time as well as other projects going on and also family situations. All that needs to be taken into account.
     
    Sackie, 24th Jul, 2015
    #49
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  10. JDP1

    JDP1 Well-Known Member

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    Nup...you have to let it go.
     
    JDP1, 24th Jul, 2015
    #50
  11. Jacque

    Jacque Jacque Parker Premium Member

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    It's futile having regrets when it comes to investing. You buy when you can afford it, ensure you can service the loan throughout the economic cycle (and all that this entails - have a buffer for backup), maintain your income, tax plan properly and have confidence in your decisions.
     
    Jacque, 24th Jul, 2015
    #51
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  12. MTR

    MTR Well-Known Member

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    More power to you, just shows it pays to have thick skin.

    I loved reading Mona Vale thread,


    MTR:)
     
    MTR, 24th Jul, 2015
    #52
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  13. wombat777

    wombat777 Well-Known Member

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    I made ( on paper ) $370k on my newly built PPOR since I moved in during March 2014 and will conceivably achieve another $290k in the next 2 years. That's assuming 15% growth for Rouse Hill in the next 12 months and 10% the following year.

    It would have been nice to have been in the position to by an IP 24 months ago, however happy with the equity boost I've been getting on the PPOR.
     
    Last edited: 24th Jul, 2015
    wombat777, 24th Jul, 2015
    #53
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  14. RetireRich101

    RetireRich101 Well-Known Member

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    We picked up 2 in sydney west in 2013, both 50% increase now..

    I still remember the Kingswood property was purchased at a Rooty Hill RSL/Carousel along with other Housing Commission properties R&W auctioning that night.

    I paid $350k while other HC (mainly in Druitt/2770 area) properties was fetching for $200-250K on that night. There were about a dozen properties auctioned on that night. If I bought them all out on the night I would've made $2m in 2 years...
     
    RetireRich101, 24th Jul, 2015
    #54
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  15. MTR

    MTR Well-Known Member

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    You did very well :)
     
    MTR, 24th Jul, 2015
    #55
  16. euro73

    euro73 Well-Known Member Business Member

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    I can only assume most of you missed hearing about , or did hear but have already forgotten about that pesky little inconvenience known as APRA? :)

    I'm not sure where you all think the money is going to come from to drive the sorts of figures being quoted here... could be wrong, but I think there's still a real failure to appreciate that even if YOU are ok to keep borrowing more tomorrow than you could borrow yesterday, almost everyone else is not going to be. Add 27 bpts to the load, then add the likelihood of further LVR and cash out restrictions, and P&I repayments rolling through to many I/O facilities, and riddle me that....

    When you remove significant amounts of any type of accelerant or fuel from any kind of machine, does it go faster or does it go slower? I find it very very difficult to see where the money will come from to drive Brisbane. It may see a short term boost from those who suddenly cant afford Sydney post APRA, but it has a huge amount of excessive supply coming online, it has none of Sydney's geographical challenges.

    I own several Brisbane properties so I'd like to be wrong, but I'm not expecting miracles in the next 18-24 months. If ultra low rates haven't set Brisbane off in the past 2 years, what are 7.25 -7.5% assessment rates going to do to change that?
     
    Last edited: 24th Jul, 2015
    euro73, 24th Jul, 2015
    #56
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  17. RetireRich101

    RetireRich101 Well-Known Member

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    Though I live in Blacktown, I don't keep tabs that closely of what is happening in my backyard...

    But even review what's been sold every 3 months is an eye opener

    This one in Doonside up your way, a 350m2 fibro house, next to Featherdale on a average busy road sold for $550k. Took 30 days to sell (bit longer than average) but got sold...
     
    RetireRich101, 24th Jul, 2015
    #57
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  18. MTR

    MTR Well-Known Member

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    I think you must be reading my mind, but I expect you know more than me with your expertise finance.

    Not happy about it, but I think you are spot on

    MTR
     
    MTR, 25th Jul, 2015
    #58
  19. 380

    380 Well-Known Member

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    Well said @euro73 !
     
    380, 25th Jul, 2015
    #59
  20. Whitecat

    Whitecat Well-Known Member

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    I have to agree with this. Sydney is driven by much more income there. Foreigners like it and locals have jobs. I can't see the fundamentals for a massive upswing in bne. There is growth happening now but I agree that interest rate rises will definitely affect a place like Brisbane
     
    Whitecat, 25th Jul, 2015
    #60
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