All Topics / General Property / Your First IP !! – Post here !

Viewing 20 posts - 21 through 40 (of 40 total)
  • Profile photo of afloatafloat
    Participant
    @afloat
    Join Date: 2004
    Post 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]

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post 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 ’86

    Profile photo of RiskyRisky
    Member
    @risky
    Join Date: 2003
    Post Count: 146

    Hi Redwing,
    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.

    Regards Risky

    If you want the rainbow youve got to put up with the rain!

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post 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.

    Cheers
    Mel

    Profile photo of MikeRobinsonMikeRobinson
    Member
    @mikerobinson
    Join Date: 2002
    Post 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.Mick

    Profile photo of baloobaloo
    Participant
    @baloo
    Join Date: 2003
    Post 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.

    Profile photo of The DIY Dog WashThe DIY Dog Wash
    Member
    @the-diy-dog-wash
    Join Date: 2003
    Post 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].

    Cheers
    Leigh K

    Profile photo of womblewomble
    Member
    @womble
    Join Date: 2004
    Post 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…

    Profile photo of 1Winner1Winner
    Participant
    @1winner
    Join Date: 2004
    Post 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.
    Marc

    Profile photo of SalubriousSalubrious
    Member
    @salubrious
    Join Date: 2004
    Post 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….”

    Profile photo of TzakiTzaki
    Member
    @tzaki
    Join Date: 2003
    Post 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]

    Steve Kerr

    Opportunity knocks softly, listen carefully!

    Profile photo of gatsbygatsby
    Member
    @gatsby
    Join Date: 2003
    Post 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.
    Cheers,
    Gatsby.

    Profile photo of gatsbygatsby
    Member
    @gatsby
    Join Date: 2003
    Post 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.
    Cheers,
    Gatsby.

    Profile photo of Tim_3Tim_3
    Member
    @tim_3
    Join Date: 2004
    Post Count: 35

    First IP in 1991 Logan for $73k rent $130
    now worth $180-200k rents for $185

    Timbo

    Profile photo of ScullyScully
    Member
    @scully
    Join Date: 2003
    Post 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.

    Cheers,
    Karen

    Profile photo of kalonikaloni
    Member
    @kaloni
    Join Date: 2003
    Post Count: 124

    first ip 1984 $55k rent $110
    Now 350k+ rent $220
    still have

    Profile photo of PouncerPouncer
    Member
    @pouncer
    Join Date: 2004
    Post 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….???
    (I think).

    Who cares … It feels good!!!….Relax and enjoy the ride BEFORE we hit the iceburg eh???

    Wadey
    [cowboy2]

    Profile photo of mikeboydmikeboyd
    Member
    @mikeboyd
    Join Date: 2004
    Post Count: 1

    Hi all,

    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.

    Thanks or sharing. Mike javascript:insertsmilie(‘[thumbsupanim]’)

    Profile photo of alexanderalexander
    Participant
    @alexander
    Join Date: 2003
    Post Count: 5

    Newby too

    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!!

    Profile photo of mrsimba2mrsimba2
    Member
    @mrsimba2
    Join Date: 2004
    Post Count: 8

    Bought first IP in:

    Location: Carlisle, WA
    Property: 3 bd green title villa
    Cost: $170k a year ago
    Now Valued: $220k
    Rental income: $180/wk
    Yes I still have it.

Viewing 20 posts - 21 through 40 (of 40 total)

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