The Go-Getter
-
Jan 2006: My
family & I migrated to Sydney from Singapore.
-
April 2006: After
looking at 20+ properties, we fell in love with a house in
Concord West. It was an emotional purchase.
-
February 2009:
Paid off my PPOR in Concord West.
-
April 2009 (Bottom
of market, in Buying Zone): Purchased a Victorian terrace in
Annandale for capital growth
-
March 2010 (Rising
market, in Buying Zone): Purchase a house in Fairfield on 1,500
smq block of land for sub-division & development
-
November 2010 (Bottom
of market, in Buying Zone): Purchased a Victorian terrace in
Surry Hills for capital growth, got early access & cosmetically
renovated it, Mixed use zoning.
-
June 2011:
Re-financing my loans (all stand-alone), properties valued by
bank as follows, LVR = 67.3%.
|
|
Concord West (2006) |
Annandale
(2009) |
Fairfield
(2010) |
Surry Hills
(2010) |
|
Capital
Growth |
45% (in 5
years) |
12% (in 2
years) |
0% (in 1 year) |
4% (in 6
months) |
|
Gross yield |
N/A (PPOR) |
5.1% p.a. |
4.1% p.a. |
4.4% p.a. |
Lessons:
-
Your greatest
asset = You. If you love your full-time job (which finances
the negative gearing) & you love property, you get the best
of both worlds.
-
I Buy
Houses. Units are too restrictive.
-
Time the market.
Only purchase in the Buying Zone.
-
Add
value quickly! I should have started on the sub-division as
soon as I settled on the property in Fairfield in March
2010, instead of taking my own sweet time.
-
Pay to Caesar
what is due to Caesar = Taxes.
ML
|
|
