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We’re doing a dual occ subdivision in Sydney’s North shore, however we did buy in 2001.
So part of the profit has come from a good buy at the time ( about four weeks after 911) . A large part of the profit has come from the fact that we paid no premium for a large block , because the vendor didn’t think it was subdividable.
In fact when I got to the place I looked around and asked the agent how big the land was., She said 3000m2. I said ” why the …. didn’t they have the land size in the add ” .. The agent said the Vendor had specifically said they didn’t want it advertised as they found the up keep to hard , and thought that people might be put off from seeing the place if they were concerned about the land size….
As a result of this anyone else who might have been looking specifically at large blocks didn’t target it as some where to look at.
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Originally posted by resiwealth:IMHO i focus in property what is the flavour of the month. I read sooooooooo many doom and gloom stories, and “the sky is falling” timid no hopers that it makes me sick.
I bought a property in 1994 that every body told me i was an idiot and today i am rubbing it in their faces because of the profit i have made.
The point in any market is to MAKE MONEY over time and not get rich over night. There is a group on this forum that only post stories relating to falling markets and doom and gloom.
resiwealth.com
Resi
It really depends on your view point and time frame. One persons ” doom and gloomer” is another persons “Timing the Market ” and both time in the market and timing the market are valid approcahes.
I tired of anyone who posts a link, article or post which in anway puts a negative spin on the market as being a Doom and Gloomer.
Personally I want to hear all of the views I can , and then I’ll make up my own mind on what I’m going to do. The more info I hear the better.
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Back to the original topic
Not sure on the stats re this , but I have heard that most people do a better job picking properties as a PPOR than they do with IP’s , simply because they live in it .
As a result PPOR’s appreciate better than IP’s.
Obviously because everyone around here are brilliant investors and do a really good job on picking their IP’s ,that irrelevant [baaa]
The tax free Capital gain has been a big one for us. We’ve made a lot of money over the last few years on our PPOR’s , but the last two have become part of our investment plans both having fallen victims to subdivisions and new houses.
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