well it was a good but strange year (2009)
how did everyone do?
did you buy property
did you buy more property because there was more deals out theredid you sit still because you were scared of the economy crashing further
do you think this year will be better
or do you think there is still hard times aheadIt will be interesting to see what everyone says.
Im a sydney based investor my mrs and I aquired 3 IP in the last 12months in Sydney and this is the best yr we have had growth wise(we have 5 IP in syd and 3 in other states) I think ill do well this yr too
but I think growth will slow down end of this yr as Interest rates rise
all the best
I bought a new IP(well I settle this month does that count?) and I refinanced two loans, a bit of a headache but sooo much better for cashflow. I am looking to buy again soon at least one maybe two or three properties. All of which I hope to be cashflow positive.
I plan for 2010 to be a great year
cheers
Sonya
– Had two neutrally geared IP's turn positive this year due to rental increases – YAY!
– Managed to grow the offset account on our PPOR by around $100k with debt recycling and some hard savings! (Oh how I hate non-deductible debt)
– Our shares took a big hit, but are thankfully back in the black after purchasing more shares whilst the All Ords was on the way back up (and still purchasing now too!)
– Also took a holiday to NZ and got engaged whilst over there
– …and last but not least got a promo at work and a v. nice pay increase!! Had a pretty luck 2009 all in all.
2010 plans:
– Purchase 1 more IP in the form of a house with some land in Bayside Melbourne (with the intention of moving into it within the next 5 years). If we don't find a suitable house, then might buy 1 or 2 more CF+ props in North or North West Vic.
– Throw some more cash into the sharemarket. Some buy and hold stuff and some short term stuff which is all to help me afford more property anyway…Good luck in 2010 all!
YI
Bought our third property in 2009 (Noosa area) and maxed the borrowing capacity. Oh, if we could buy more!
Not wanting to be monkeys with a trapped hand in the jar, will take Steve’s advice and sell the ripe ones for better opportunities in 2010.
Good investing to all in 2010!
I wasn't planning on buying, but ended buying in Bradford got a great deal that I couldn't turn down. I bought for cash so I didn't have to borrow anything.
Did anyone not buy anything? as they thought we were gonna be in bigger trouble than what we were with the economy
I didn't buy any as I bought in the previous 3 years. I spend the last half of last year buying shares luckily!
Although the share money will end up going into an IP later this year I suspect.
20 years old bought my first ip with my partner in oct 2009 (at 19) renovated it and now about to rent it, now on the hunt for my next project
me an the missus bought out first PPOR with a 100% LOAN in feb 2009 got it revalued last week, achieved 30% growth, withdrawing 75k to buy another one as soon as i find something decent. will prob look at cashflow positive for the next one (maybe strata titleing a block of units) as dont wanna get stuck with 2 growth properties costing me $$ each month and reducing my borrowing capacity.
It was a good year for me i nearly replaced my whole income in positive cash flow in one deal.
2009 was my start…
bought 6 IP's (units) in total for the year..
Whole portfolio is slightly negatively geared but hopefully the rental increases which are likely to come should make 10/11 a good year..
Hi Jaffa,
Can you explain a little more?
Regards,
Andrew
itsandrew
Go as far as you can see and you will see further.
I just bought a house and it was so easy, I bought property in Victoria
Brought two IPs and one naughty pug (the latter was definately my proudest purchase)
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
bought a house in sep 09 for $475k (6 bedroom + 2 bathroom + 2 toilets) and an older house to ours just sold 2 months ago 4x house down from ours, same block size and ready for demolishing for town houses sold for $706k. contract was done up for 1 year settlement!!! no interest paid, while we watch our house grew in value!
had at least 67% increase in equity within 1 year…
I spotted my old post still going and it Looks like everyone done okay for 2009, so what happend threw 2010, did you acheive what you wanted too.
2010 – For me was a difficult year to find property in Sydney that made sense from a risk reward perspective. The older posts are valid on why there is so much more interest to invest overseas..
For me in 2010, my focus has been abroad in Canada which has a stronger conservative banking system than the US, but still affected by the GFC. The interest rates have been quite low.. with rates as low as 2.25% on variable mortgage rates. Unlike the US market where the mortgage rates are low but no one qualifies for them, Canada provides the loans at low rates to people that pass a similiar credit assessment process.
I picked up property in Canada with a 5-7% yield and mortgage of 2.25%. The Australian Dollar / Canadian dollar has been quite favorable at 25 year highs so it made sense to move some money over and invest in a long term positively geared property.
This year I will focus on Australia.. maybe in NSW where I can find some growth areas that are close to neutrally geared..I'm still not sure about the capital allocation required to breakeven with rising interest rates in Australia. Especially if the Aussie dollar keeps rising.. it will make more sense to look for international opportunities.
Bought another Ip, this time two flats cashflow positive. Bought in a trust structure this time, all new experience.
Downside, bad PM ( i use the term very lightly) allowed one of my properties to get into a disgusting state of disrepair and filth, did not even know that the tenants had done a runner until i complained for the umpteenth time about unpaid water rates. Still dealing with its three months later. No tenants in place for all that time.
I am planning on 2011 being a better year.
Thank goodness all my other properties are managed by competent and efficient property managers.
started 2010 with no interest in property, other than owning PPOR and my business building. Broke toe in January 2010 and could do nothing but read. Ended up reading money magazine and finally understood the power of equity. Devoured every property book and mag I could get my hands on then me and the Mrs bought 2 interstate IPs and one locally for me to renovate as a form of LSL this year. Plan to buy more IPs this year, but unsure where (want to get in Sydney but not sure where to start).
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