I wholeheartedly agree Micheal. Plus, most of my holdings are in Sydney, which is exciting stuff.
That's exciting Skater, you should be in for some great times ahead I reckon..
We've Done it Again!
- Thread starter Rixter
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That's exciting Skater, you should be in for some great times ahead I reckon..
Thanks a lot everyone for all your positive comments.
I still have my property alerts set up online and received an email alert a couple days ago for a property that has just come onto the market.
It is located in the same complex I just settled on in Sydney. The property is identical to mine with only one Villa between us.
The only difference, is the asking price on this new one is $46,000 more than I paid I thought I got a fantastic deal but not by that much - it will be very interesting to see how this one goes. Even more so at this time of the year.
I still have my property alerts set up online and received an email alert a couple days ago for a property that has just come onto the market.
It is located in the same complex I just settled on in Sydney. The property is identical to mine with only one Villa between us.
The only difference, is the asking price on this new one is $46,000 more than I paid
I thought I got a fantastic deal but not by that much - it will be very interesting to see how this one goes. Even more so at this time of the year.The only difference, is the asking price on this new one is $46,000 more than I paid
Looks like you re-set that market Rick...make an offer and grab yourself 20% of that TH complex...
Thanks a lot everyone for all your positive comments.
I still have my property alerts set up online and received an email alert a couple days ago for a property that has just come onto the market.
It is located in the same complex I just settled on in Sydney. The property is identical to mine with only one Villa between us.
The only difference, is the asking price on this new one is $46,000 more than I paid
That's wired because I just checked Domain.com.au out and the one that looks similar to the pics you have posted is priced cheaper at $339000, whilst yours went for $353,000?
Hi Santa, can you post the link?
This is what I was referring to. The kitchen looks the same.
http://www.domain.com.au/Property/For-Sale/House/NSW/South-Wentworthville/?adid=2008745903
Unless you are talking about:
http://www.domain.com.au/Property/For-Sale/Villa/NSW/South-Wentworthville/?adid=2008622103
but that a 3 bedder
http://www.domain.com.au/Property/For-Sale/House/NSW/South-Wentworthville/?adid=2008745903
Unless you are talking about:
http://www.domain.com.au/Property/For-Sale/Villa/NSW/South-Wentworthville/?adid=2008622103
but that a 3 bedder
And not challenging you or anything, but if the above 2 links are from the same complex, then I'd be asking questions about why there is a mass sell off - as there are only 10 (i think) residences in that place.
Nope, different properties.
Ok, query sorted, I phoned the REA. It is a typo (blaming the junior) and I dont think the agent is too competent. Both the email alerts sent and the online internet prices are advertised wrong. I am now told the asking price is $350k... but give it time as that may even change ha ha
Tells me its also rented with a lease just signed. Looking online it's advertised at $370 p/w.
Tells me its also rented with a lease just signed. Looking online it's advertised at $370 p/w.
Did you speak to a girl with a name that starts with E?
Yep, there was still a bit of confusion as I asked for the rental price and address (as that was not listed). Latest price they've decided on is $349,500 and has been reflected on Domain. LOL
Also, they aren't going to sell it until the start of the new year. Tenant has signed a 3month lease at this stage - they might decide on another asking price by then though.
Have been looking around the Parra region but never considered South Wentworthville so was called up due to me being overly nosy.
Ha ha ....yeah I just received an updated alert with another price yet again. You probably right about it changing again in 3 months.
On a serious note, take a drive that way and have a look around - that pocket including that street in particular is being made over and redeveloped.
On a serious note, take a drive that way and have a look around - that pocket including that street in particular is being made over and redeveloped.
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Hi Rick, its great that you have shared so much about your strategy - and that you have succeeded so well in executing it!
Your description of the CGA strategy elsewhere mostly focuses on the CG aspects - could you pls give a bit more info on the cashflow aspects of your strategy - presumably it also expects/ requires ongoing growth in rents (aligned with the expected 7 - 8% CG pa), in order for the portfolio to be CF+ by year 10 (assuming you are buying NG properties along the way)? and this allows you to afford to be able to borrow back up to 80% of one IP for your living expenses after Year 10 (whilst enjoying your early retirement!)?
Your description of the CGA strategy elsewhere mostly focuses on the CG aspects - could you pls give a bit more info on the cashflow aspects of your strategy - presumably it also expects/ requires ongoing growth in rents (aligned with the expected 7 - 8% CG pa), in order for the portfolio to be CF+ by year 10 (assuming you are buying NG properties along the way)? and this allows you to afford to be able to borrow back up to 80% of one IP for your living expenses after Year 10 (whilst enjoying your early retirement!)?
Hi Lawry,
All the portfolio cash flow is serviced via Wages in the acquisition stage; Rental Income and increases along the way; the Tax man from cash & non-cash ( buildings depreciation & fittings/fixtures depreciation) deductions; your LOC/s and/or Cash Bond Structure; and any other forms of investment and/or disposable incomes you may have available.
I hope this helps.
Looking at comparative sales data over the past year sales appear to have been in the upper $300k's to Low $400k's
Approx $100,000.00 odd.
