Well you guys can sleep in tents im off to the caves of coober pedy(check it on re.com.au) its the Palazzo Versace compared to your tents hahahaha

Jacky come on grumpy have a laugh with us.

Did I mention popcorn in coober pedy, lots and lots of popcorn.

Thanks jacM

Thanks johan22, I’m 23 so lots if time to make up for any mistakes, hopefully not many haha. If we have another correction I see it as another buying opportunity be that shares or property. I still hold some stocks but have found myself in property due to being able to renovate run down properties very cheaply through the interior fitout business I also run. We shall see how things go over the years. I will definetly keep plugging away.

Engelo

I hope you are right regarding the big recession com

I am not a fan of this back and forth battering over the computer. I am always open to everyone’s thought and opinion but do not appreciate being provocated for simply starting a topic on this forum. I am more than happy to meet in person and resolve the matter.

Regards,
Engelo

Hi Jackflash,

I appreciate your response but have to apologise for not being educated enough to understand your philosophy. I think the property is around 3 hours from Sydney CBD if you go on roller blades. (or as we are talking about the 1930s it would take 4,5 hours on my horse and cart) jksss haha

The $20 per week is before depreciation. IMO I dont believe in capital growth as its a prediction, I look at the numbers in the deal and make my decision (any CG is a bonus). I am confident that there are quite a few people out there that could hold if we must get so formal a NEGATIVELY GEARED property for $20 per week.

$155k is excluding costs. Property was purchased $25k below most recent comparables within same complex of same property size(source RP Data) so there is a bit of a margin of safety if prices drop. I am interested in purchasing as many properties I can implementing the strategy I have in place and so far it has been successful. I am not a fan of bread and carbs so I shall keep eating my steak and protein.

engelo10

Thanks for the replies.
I have already spoken to the property managers regarding $10-$20 annual increases in rent.

@ xdrew
hahaha
Thanks for your comment mate my eyes are wide open now. 

Thanks for those ideas guys, both are tenanted but not at market rent due to long term tenants. Also, they are close to transport and shopping. They would cost around the same to reno. I havent made an attempt yet to speak with locals. Will also see which 1 could possibly be negotiated at a lower price. At that price and being commuting distance to the CBD I think both are decent buys.
Thanks.