Hi all,
I thought I would start a new topic to see what your best deal (just one) that you made from real estate. I believe it would be totally inspiring to the new investors to hear some great stories of how much money or profit you made and how you did it.
I won't start with mine yet however I will share a short story …. we all know stock brokers and financial planners hate real estate and push shares etc; a FP friend of mine bought a huge run down property opposite PLC in Sydney and up the road from Avondale Golf Club (1,800 sq/m land) bought the property, did a massive clean up and new landscaping, renovated the house with new bath rooms, kitchen etc moved in and sold it within 2 years and made a profit of $800k … oh he was so proud of him self as he should be – but one night while doing a seminar he told the audience how much money he made as above, one intelligent lady in the audience stood up and asked a question … thank you for sharing such a great story of how much money you made from real estate now can you share a similar story of how much money you made for your clients as a financial planner in the last 2 years … opps!!
D
Hi, not a massive deal, but a nice story,
I purchased a little house in south gippsland on half an acre for $60k ($1k more than asking price) 100km from CBD. I recieved the first home buyers grant, and used the money I had saved whilst living for a year in a caravan park, as the 20% deposit. My mortgage repayments at the time were fixed at $75 pw. I have done minor improvements such as adding a picket fence, building a shed, and practicing many small projects to educate myself on reno work . As the property has increased in value I have used the equity to pay for my car when it needed replacing, my lifestyle, (I worked as a casual for three years), and just recently I refinanced the property which is now (after 5 yrs) worth $145k, to pay for my wedding and honeymoon. Considering that my initial investment was about $5k of my own money, and for the entire five years my "rent" was $75 per week, I don't understand why more people don't just put thier greed dreams on hold(giant house full of goodies, 1/2million dollar mortgage), be a little patient, and build up to larger things.
I am currently working on a house in Hampton park with my new wife (paid $114, now worth $200), which we are living in to then rent out, as we move into another which we will keep to live in as our base house, we then plan to reno three to buy one cash flow positive rental a year, until we achieve our goal of $100k after tax passive income PA.By the way I still have the South Gippy property and will be extending, renovating, and retiring in about ten to twelve years…I'm 34…property works.
Well..in terms of equity and time, our second PPOR (After first became an IP), went from purchase price of $95 to now $170+ in 1.5 yrs…
Almost 100% increase in 1.5 years….hurrah!!!!!
I lost a ball in the bushes on the 5th hole yesterday. Went in to look for it, found mine and 5 more.
500% return in 2 mins.Have a deal for $175k (25k below asking price & 80k under council valuation). Offered before xmas on a 30day sale, it still hasn't settled and we added one clause that if after 30 days the titles (as it was a subdivision) have not gone through, we could put a tenant in and pay all rates etc… It's been 8mths and we are still collecting $170pw rent and waiting. Not bad for 10% down.
Funny that LA …
My husband lost his ball in the creek last week, found a new ping putter while looking for his ball then got disqualified for carrying too many clubs (15) …
D
I built my first PPOR that was completed early 2001. Cost was $185,000. By mid 2002 its value reached $300,000. By early 2003 we had people door knocking offering us $380,000. Not bad for a young couple with there first house in a country town.My biggest mistake was not taking advantage of the growing equity earlier by buying a IP in early 2002. LIve and learn
Wealth,
The guy who disqualified your husband doesn't know the rules or they both don't.
If you find a club and put it in your bag, you can declare that club not in play and there is no penalty. You can actually start the round with 15 clubs and declare one "dead" and still carry it without penalty, as long as you don't use it.
If you know the rules you can't be bluffed by those who don't. Bit like Property Investing really.
Mind you, I would happily cop a disq for a free Ping Putter – small sacrifice.I was bragging to crashy (during yet another of our arguments) last week how I shot 70 (2 under) with a triple on 16; yesterday I shot an 80 with 3 shanks.
Ahh, golf!
Teeing off tomorrow at 9.00am.
Black tees.Thanks LA always love yr come back … however … 1st I was pulling your leg as I often do with you … second if u start the round with 15 u r out … Ian Woosam ???? remember …. once u tee off thats it, like borrowing money or having s.. it's too late
My hubby will get the rule book out when he gets home …
LOL … D
I knew you were just playin' Wealth.
I remember Woosie's episode vaguely. I'm not sure that the decision was correct though; from my distant memory it is only a penalty up to 4 strokes for the extra club.
Let me know what the rule says.
Hi, if you looking to inspire people I hope you don’t mind me sharing one story which is not about myself. In 2001 a house and 20 acres was offered for sale. It was purchased by a couple I know very well. They paid $286,000. In 2006 they sold the property to developers for $2.7 million. The amazing thing about this deal is that it happened right under my nose (200 metres from my front gate). I didn’t even consider the property when it was offered for sale??? Often I hear people say that good deals are hard to find. Well I can tell you from experience that the deal of a life time can stare you in the face, but unless your’re looking at with the right attitude, you may not even see it??
Hallg
Hey Wealth;
I knew (actually I hoped) my brain wasn't that frazzled from all the alcohol.
I googled golf rules and found this:"How Many Clubs are Allowed to be Carried in the Golf Bag?
Fourteen clubs are the maximum allowed in one player's bag. Any number below 14 is fine, but more than 14 is not.Also, those 14 clubs cannot be changed during the course of one round. You must finish with the 14 you started with. (There are some exceptions in the case of a club breaking.)
However, if you begin with fewer than 14, you may add clubs during a round as long as no delay is caused and as long as the club(s) added are not borrowed from another player.
The penalty for exceeding the 14-club rule in match play is a loss of hole for each hole played in violation of the rule, up to two holes lost.
In stroke play the penalty is two strokes for each hole played in violation of the rules, with a maximum of four strokes."
Your husband was ripped off.
Yep LA and he said he is going to wrap that "ping" putter around some ones head … after his of course …
Keep your balls clean!
D
Congratulations wealth4life,—- Happy Anniversary for tomorrow— 4 years since you joined.
Cheers Len
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