afloatParticipant@afloatJoin Date: 2004Post Count: 48
Very recent, November last year, paid $75k, rent $200. It has been valued today at $93k. The numbers kept stacking up and have bought 4 others similiar.
head above water
Afloat[thumbsupanim]AdministratorKeymaster@piadminJoin Date: 2013Post Count: 3,225
Ist ip 2002 lge regional centre 2 br brick house built circa ’90 $68k now worth 110k rent $135pw (increase to $145 pw in may)
2nd ip oct 2003 2br unit nr beach nice complex nth qld $142k rents @ 200pw
3rd ip Dec 2003 2 br brick villa nice complex – same regional centre as 1st ip 113,000 rents @ $145 pw- to $160 soon
We have a buy & hold strategy.
Ist house I ever bought- Sydney 1978 3br new brick bought for $34k sold in ’86 for 64k (yes- just b4 the ‘boom) that house would now be worth circa 450k………..long BIG sigh!!![biggrin]
oh…..and don’t get me started on the WATERFRONT land we knocked back when we moved to Qld in ’86RiskyMember@riskyJoin Date: 2003Post Count: 146
My first ip was early 2003 paid $169000 for 3×1 in Mandurah (Falcon) renting for $155 pw just had valuation done on it for other ip purchases ,came in at $215000 .Bought it before i started learning about pos gearing although i am planning to build a second house on the block as its 1200 sqm and zoned right, Just waiting for the sewage to go through which is due im told in 2005/6.
If you want the rainbow youve got to put up with the rain!melbearMember@melbearJoin Date: 2003Post Count: 2,429
First IP bought mid 1993 – Waterford West 2 bed townhouse. $112K. Rent $130. Value now $125K, rent $125. D’oh. Two tier marketers.
Second IP bought same time. Canberra 2 bed townhouse. $120K. Rent $120pw. Sold to friend in October for $260K. $20K discount for friend and no agent. Was renting at $210, but should have been $250.
MelMikeRobinsonMember@mikerobinsonJoin Date: 2002Post Count: 27
Hi gang,My 1st IP cost$13000 in 1996.I rented it for $90/wk.Now worth $30000 and still rents for $90.Have had the same tenant for 4yrs.MickbalooParticipant@balooJoin Date: 2003Post Count: 122
Bought an off the plan 3 bd townhouse in Chadstone, 1998 for 179k. Rent returned between 230 – 250 pw. Sold last July for 325k.
Still wondering if selling was the right move. Time will tell.The DIY Dog WashMember@the-diy-dog-washJoin Date: 2003Post Count: 696
Our first IP is a serviced appartment in Rosehill NSW with a balcony overlooking the rose gardens and rosehill racecourse, you can also see the harbour bridge and homebush stadium in the distance. Great at this time of year for the slipper. Paid $165k now worth $185k with a 5% or 5.5% rental guarentee.
We currently have it on the market below market value for a quick sale so we can put the money into our new PPOR.
We went on to discover Steve and +cf investing and late last year purchased 3 houses in country Vic all renting above market value because we ensure that our properties are the best in the market place.
After our PPOR is settled we will be on a buying spree [thumbsupanim].
Leigh KwombleMember@wombleJoin Date: 2004Post Count: 1
bought in FNQ ppor 6yrs ago.102k..tdy worth 220k. am moving as (refinanced)and will rent for $220.per week…new house bought. finance approved tdy!!!..153k. two story – self contained flat downstairs rent $110 per week with [biggrin]me upstairs…6mnths time will swap..me downstairs..rent upstairs $180 per week…then will move onto next ip…1WinnerParticipant@1winnerJoin Date: 2004Post Count: 478
First IP bought in Sydney in 1998. 40 years old b/v 4 bedroom house for 154k rented at 200xw. Today its 450k and rents at 240xw, still with the same tenants that never skipped a beat.
May God bless you
and prosper you.
MarcSalubriousMember@salubriousJoin Date: 2004Post Count: 252
Brought 1st Penrith 1996, 155k rent $220, today 400k rent $250 but only owe 100k. Should of brought 25 Acres on Fairlight Rd Mulgoa in 96 for 325k now valued 1.2 Mil!!!
Never sell……….. Unless you know theres a brothel going in next door………
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”TzakiMember@tzakiJoin Date: 2003Post Count: 36
1st IP bought 2000 in Aspley Brisbane for $157k rent $210p/w now worth #275k and rent $230 p/week.
2nd IP 2000 in Wynnum West $154k rent $195p/week now valued at $240k and rent $210 p/week
3rd IP 2003 $160k Mt Gravatt East rent $210 p/week, now cvalued at $240k and rent $230p/week
NOW i gotta find some cashflow +ve properties![biggrin]
Opportunity knocks softly, listen carefully!gatsbyMember@gatsbyJoin Date: 2003Post Count: 708
Ist IP purchased in 2000 in Melbourne eastern subs for $150k (3 bedroom house). Absolutely no idea what I was doing but got sick of doing the auction circuit after 6 months. Currently valued at $300k. Rent was initially $190 per week, currently $220.
2nd IP purchase in inner east of Melbourne also in 2000. 1 bedroom flat. Paid $112k and rented for $150 per week. Currently valued at $200k and rent $160 per week. Property investing happened to me just out of sheer luck (ie bought at the right time unknowingly). Since then I no longer believe in luck. I believe you have to make your own luck. No such thing as a free lunch but if you study hard on the lunch menu, it is possible to get meal of the day for free. Don’t lose your shapo and start with the end in mind.
Gatsby.gatsbyMember@gatsbyJoin Date: 2003Post Count: 708
Ist IP purchased in 2000 in Melbourne eastern subs for $150k (3 bedroom house). Absolutely no idea what I was doing but got sick of doing the auction circuit after 6 months. Currently valued at $300. Rent was initially $190 per week, currently $220.
2nd IP purchase in inner east of Melbourne also in 2000. 1 bedroom flat. Paid $112 and rented for $150 per week. Currently valued at $200 and rent $160 per week. Property investing happened to me just out of sheer luck (ie bought at the right time). Since then I no longer believe in luck. I believe you have to make your own luck. No such thing as a free lunch but if you study hard on the lunch menu, it is possible to get meal of the day for free. Don’t lose your shapo and start with the end in mind.
Gatsby.Tim_3Member@tim_3Join Date: 2004Post Count: 35
First IP in 1991 Logan for $73k rent $130
now worth $180-200k rents for $185
TimboScullyMember@scullyJoin Date: 2003Post Count: 48
Our first investment property is a 3br house in Castle Hill, Sydney. Bought in 1997 for $202,000 and rented out for $285 a week.
We still have it. Last valuation was $460,000 some months ago and it rents for $380 a week, but the rent is about to go up $10 a week.
KarenkaloniMember@kaloniJoin Date: 2003Post Count: 124
first ip 1984 $55k rent $110
Now 350k+ rent $220
still havePouncerMember@pouncerJoin Date: 2004Post Count: 3
Good Evening All,
Well, I have just done a quick scan of the pages of this forum link and it’s all …HISTORY, HISTORY, history.
Try this, …. Our first IP is (will be) MAY 2004!!!.
It’s in regional NSW, BIG population, reasonable rental, great CG and the area is set to get BIGGER & BIGGER.
We are paying $245K for a 4 bedder – 2 bath (with spa), haven’t settled yet and have been offered $270pw for the place without doing a thing.
Naturally with a paintjob and a bloody good clean-up we could fetch $290 – $320 pw.
You think this is good? …
Now add the challenge of:-
1) 2.25% exit on IPs
2) Todays news of possible reviews on tax relief of IPs
And we are sailing into a great future….???
Who cares … It feels good!!!….Relax and enjoy the ride BEFORE we hit the iceburg eh???
[cowboy2]mikeboydMember@mikeboydJoin Date: 2004Post Count: 1
Our first IP (well family home really) is in Kingston TAS, 4bed/1bath, 1/2 acre, purchased Sept 2000 for $129K. Just been revalued @ $260K. We are looking @ sub div and building as a rental or wrap.
2nd IP 1860’s sandstone cottage in New Town TAS. $200K last August, only signed off 2 weeks ago due to easment issues, revalued @ $280K. Currently renovating, expect commercial rental around $300-350 pw. Might even make something on the old 1800 – 1830’s copper and silver coins and artifacts that are all over the place. Unbeleivably exciting.
TAS growth is expected to be around 18% this coming year so as far as capital growth goes we’re doin just fine.
We bought 1st IP for 110000 in 2003, spent 10 000 on it. Rents for $130 per week. No property manager though as family so in good hands. Recently valued at $146 000.
2nd IP also in 2003. Paid 119 000 for two bedroom unit which rents at 140 per week. It is in a complex of ten and strata fees are around $ 800 per year without huge potential for capital growth, probably wouldn’t have bought this one knowing what we know now.
Currently looking at changing loans to interest only as having them both p and i is okay for now but stops us buying any more for a long time. Ah, the benefits of education!!