NATHAN’S CASHING IN ON A MT DRUITt PROPERTY
After purchasing this brick veneer house in Mt Druitt in 2011, Nathan has decided to put it on the market to reap his gains.
POCKETING $350,000 IN 6 YEARS
Nathan bought this three-bedroom house for just $205,000 in 2011.
Now, in 2017, he is aiming to sell it for $550,000.
WHY IS HE SELLING?
Though it is raking in $380 rent each week, Nathan has decided to sell this house in order to redeploy capital elsewhere.
He says, ideally he wouldn’t want to sell properties like this, however, in order to take himself to the next level, he needs to free up some cash.
NOT AT MERCY OF THE BANKS
By selling some of his foundation properties, Nathan will be able to pay cash for upcoming developments. This means he will not be at the mercy of the banks.
While this house has delivered nice gains, there is nothing that can be done to add more value to it at this stage.
SOME PEOPLE LAUGHED AT MT DRUITT
So many people used to tell Nathan he was crazy to invest in Mt Druitt. They said it would never go up – but, it did.
Those people have lost hundreds of thousands in opportunity costs, while Nathan has made hundreds of thousands in capital gains.
Now, Nathan is using these gains to take the next set of opportunities in front of him.
He says, it is important to have goals and targets for your properties. Constantly reassessing your plans will help you to stay on top of your game and build on your success.
Have you sold foundation properties in order to move up in your investing? Please share your experiences in the comments section below.