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Sydney property owners making $200,000 a year for 'doing nothing'; Bringing home the bacon
Topic Started: 3 Sep 2016, 05:24 AM (19,099 Views)
Bardon
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Sydney real estate on FIRE the article says it all.

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Sydney property owners making $200,000 a year for 'doing nothing'

A two-bedroom apartment at 65-75 Brighton Boulevard on Bondi Beach sold for $2.155 million. The seller bought the unit five years ago for $1.1 million, and made an easy $200,000 profit a year for "doing nothing", the agent said.

"Some of the prices don't make sense but people are buoyed by waves of confidence." Having rented for 15 years, he has decided now it the time to buy. "It's the new norm to buy property. I just want to own one," he added.

A young family of three with a double income who missed out on the Kensington one-bedder as an investment believed there was a "wealth effect" in Sydney which was steering towards real estate as the favourable asset to buy.



Read more: http://www.afr.com/real-estate/sydney-property-owners-making-200000-a-year-for-doing-nothing-20160823-gqzic5#ixzz4J7lQjBaq
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Edited by Bardon, 3 Sep 2016, 05:29 AM.
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Simon_S
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Bardon
3 Sep 2016, 05:24 AM
Sydney real estate on FIRE the article says it all.




Read more: http://www.afr.com/real-estate/sydney-property-owners-making-200000-a-year-for-doing-nothing-20160823-gqzic5#ixzz4J7lQjBaq
Follow us: @FinancialReview on Twitter | financialreview on Facebook
Quick you better Buy more as they can only go higher and you wouldn't want to miss out......

Buy five and in 12 months you will be a Millionaire!

How many would you need to become a Billionaire?
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Bardon
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This post and article is about the effortless collection of big dollops of "economic rent" by owners, not to do with would be buyers.
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Rufus
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Simon_S
3 Sep 2016, 08:56 AM
Quick you better Buy more as they can only go higher and you wouldn't want to miss out......

Buy five and in 12 months you will be a Millionaire!

How many would you need to become a Billionaire?
Hard to say, Here is the chart for house prices in Vancouver below.

Now things have just changed in Vancouver, they have brought in taxes for foreign buyers that are deterring them from buying, and sales have plummeted.

So the question is - will those buyers come to Sydney instead? What do you think?

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Edited by Rufus, 3 Sep 2016, 09:08 AM.
Take risks - if you win you will become wealthy, if you lose you will become wise
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Not a bad earn at all.

Will the next owner be so lucky ?

Will it go up 200k a year for the next few years ? Or down 200k for how many.

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Simon_S
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Bardon
3 Sep 2016, 09:01 AM
This post and article is about the effortless collection of big dollops of "economic rent" by owners, not to do with would be buyers.
OH so if I bought today I wouldn't make 200K in the next 12 months......Why not?
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Bardon
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Simon_S
3 Sep 2016, 09:16 AM
OH so if I bought today I wouldn't make 200K in the next 12 months......Why not?
I have just written up a House Buying Plan for my nephew. He visited me last week from Barrow Island and I convinced him he needed to put some seed capital into the Brisbane property market before he does his big trip to South America and pisses his large savings up against the wall.

His actions now will allow him to collect the economic rent in due course, its the way of these things.
Edited by Bardon, 3 Sep 2016, 09:28 AM.
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Trollie
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Simon_S
3 Sep 2016, 09:16 AM
OH so if I bought today I wouldn't make 200K in the next 12 months......Why not?
How's your plan to time the market working out?
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Simon_S
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Trollie
3 Sep 2016, 09:33 AM
How's your plan to time the market working out?
Better than the Central Bankers Plan to create Global Growth........
Bardon
3 Sep 2016, 09:21 AM
I have just written up a House Buying Plan for my nephew. He visited me last week from Barrow Island and I convinced him he needed to put some seed capital into the Brisbane property market before he does his big trip to South America and pisses his large savings up against the wall.

His actions now will allow him to collect the economic rent in due course, its the way of these things.
Until the Business Cycle re asserts itself.........
Edited by Simon_S, 3 Sep 2016, 10:47 AM.
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Bardon
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Simon_S
3 Sep 2016, 10:47 AM
Until the Business Cycle re asserts itself.........
On the wave man and in fact me and him are surfing it...............
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