Lowest Purchase Price ???

[mals69]

What is the lowest price below GV or QV you have purchased a property ?

Purchased a property for my sister at auction for $67 000, the GV was $90 000 but 3 years old.

The property is worth $210 000 now,she made $100 000 in capital gain in around 18 months.

[Niall]

Bought 2 years ago. $157,500 and GV of $185,000. Bit of cosmetic and now worth @$220,000.

[Josko]

That is a great result mals69, very good buying.

I gained 42k in equity in 18months on an apartment, so in this apartment enviroment I think that is a good result, bought for 210k now valued by QV at 252k.

[Stevegoodey]

So what are we going to use to measure?

Percentage discount?

Any how?

Bought 12 months ago for $870,000 valued at settlement $1,450,000.

Steve

[Heg]

Bought 12 months ago for $870,000 valued at settlement $1,450,000.

Steve

Now that's what I call equity!!

Bought this month at $585,000 valued at $660,000

[Volatile]

So what are we going to use to measure?

Percentage discount?

Any how?

Bought 12 months ago for $870,000 valued at settlement $1,450,000.

Steve

Yup thats what dreams are made of!

[Dean@Massiveaction]

Bought 820K plus 30K unit titling costs. RV on completion 1.6 mill

[xris]

Isn't this simply a good example of how people who don't know any better but are sucked in by all this seminar hype, can get badly burned?

I would venture to guess that this is only the tip of the iceberg and that plenty more stories like this will emerge over the next year or two.

Sleep at night? What happened to buyer beware?

xris

[whitt]

Bought 820K plus 30K unit titling costs. RV on completion 1.6 mill

thats nice, Do you have any holding costs?

[SuperDad]

Bought 820K plus 30K unit titling costs. RV on completion 1.6 mill

Was that your "Rotovegas Hilton" deal?

[Snookie]

Gosh - really need to get to that broker so we can start playing in the 500+ market.... We bought for 150K 18 months ago (Rotorua) and recent valuation was 250K, so we were pretty happy. About 10-15K costs.

We are thinking of going in with another couple of family members so their salaries are also taken into consideration. Would you set this up using a company do you think? All shareholders etc and pay tax as we will be trading. Mum and I have done things thus far through a B&H trust - also have a trading trust in our names.

[Cliffy]

Bought for $1,050,000 last month, RV $1,450,000

sold to "client" off seminar mob feb this year 125k - see qv sales hisotry unrenovated with a valuation to match (valuer firm 2 hours drive away)

Are valuers in any way liable for these inept valuations?

[NZGEMS]

I have a great example of what I gave away!!!

Well sort of helped someone get into their own home. Purchased 5 years ago for $75k wrapped for $85k and now worth $250k told her the other day she really should buy me out then her costs will be lower too!! Still nice to be able to help people get into their own homes.

I only ever did 14 wraps back in 2001 still have 3 of them the others are also similar increases infact i think i may have one even better, purchased $58k wrapped $78k think that must be worth $250 easily too, it is in Keats cres in Hamilton. does anyone know? Doesnt really matter does it helped another home buyer.
Luckily i kept a good number from that year too and if i hadnt traded i wouldnt have been able to keep buying so i really dont have any regrets on what I did.

I am just so excited about the future and the incomes we create which a few years ago would not have even been in our wildest dreams and now because of that the people we can also help have a much better life.

[Heg]

I am just so excited about the future and the incomes we create which a few years ago would not have even been in our wildest dreams and now because of that the people we can also help have a much better life.

Great inspiration Robyn. We are setting up our Lease Option company and although we want to make money, it is going to be lovely to help people get into their own home.

[Dean@Massiveaction]

Hi Whitt. Property is pos cashflow pretax.