Hi All, as times have changed and it is getting harder to make the $, would love to hear from people who have positive success stories of late.
A reno which has made big $, or whatever….. lets share….Marisa… thanks
Hi Marisa – some time since we spoke. Back then you were considering CF+ and commercial opportunities – I think you went down the path of a country CF+? Are you happy with how things went?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Hi John
I purchased my first country/regional centre CF+ 3 weeks ago and renovations will be completed in about 1 weeks time. Unfortunately cant get another at the same price in this area as prices at the lower end have now soared.What’s happening in your world, are you still considering North North….
Cheers, [biggrin]
Hi Marisa,
So if prices of similar props have soared, has the price of yours also soared ??
Sounds like a happy ending story to me.Heres my happy ending story…
Completed 2x 3bed 2 bath units April last year. Sold one straight away for full asking price $299k
Sold the second one last week (rented for 15 months) for $305k.
Conclusion from this: buyers are a lot thinner on the ground but they are still out there, and at this stage prices are holding up…no correction yet.KP
kp
thats a great happy ending, were these the Melville IPs?Also, did you at any time consider holding on to these properties?
[biggrin]Marisa is that all those crazy CF+’ers pushing prices up? [arrowhead] I have been so busy on the day to day activities that I haven’t really had time to look at much. Just read Kiyosakis last book which was interesting – well it was and it wasn’t! A quarter of the text would have been a small mercy, but his attitudes to people seeking capital gains were interesting. In summary he says people seeking capital gains are dreamers and just traders and you need to look at the deal based on todays cash flow, which fits in with the whole CF+ approach. I guess the difficult concept to accept is that ‘blue chip’ property has a track record of increasing over the long term and that is the appeal of it for most people, yet under the CF+ theory we are asked to just think of that as a bonus. This arguably means looking at properties in less desirable locations which I find hard to do. Thus my focus is to look at ways of extracting higher returns from the lower yielding properties – so diverting the overly taxed trading profits into lower yield property for a long term hold. It just puts pressure on me to trade harder and faster! Do you see yourself doing more and more CF+ deals then? i.e. would you declare your first a success?
Kevin – great to hear you are out of your duplex development. Will send you a PM.
John
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Thanks John…got the PM and have replied.
Hi Marisa,
They’re in Melville shire same as the other two under construction.
Its nice to “hold and keep” in theory, but sometimes other considerations come into play ( read…financial) and hence the decision to sell.Basically the first sentence, hints at the problem…current construction has been much delayed and also costs have blown out a bit ( not too much but enough to force me to invoke plan
The theory was to build two keep one and sell one, and then move onto the next development, repeat the process.
I am a firm believer in taking a profit, even if it comes at the cost of CGT, agents fees, etc.So, instead I have decided to keep the two currently under construction, as they are better properties (4×2’s with more features) in a better area ( Ardross vs Booragoon ), and most of the gain has already been built in due to the strength of the market last year..even if the rental yield will end up being pretty ordinary.
KP
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