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Forum » Another house sold another $190k in the bank (140 reps)
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Thread: Another house sold another $190k in the bank (140 reps)

post 1632427623 02-26-2021, 01:43 PM
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#1
  1. r32gojirra
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  1. r32gojirra
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Another house sold another $190k in the bank (140 reps)

Pretty happy right now

This is the second sale of this financial year - after paying out the mortgage, agent fees, CGT provisioning and legals should net out about $190k

Overall that’s put me up about $380k for this financial year just on the property side of things

I don’t mind admitting that’s significantly more than I’ll earn in fees and other employment income

Makes me wonder sometimes why I get up for my office job

Thread on the first sale here:

https://forum.obnoxiousbrutes.com/showt...9000431&page=1

Cliffs:
-sold another property, doing well, feeling good

Reps, obviously
post 1632427783 02-26-2021, 01:44 PM
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#2
  1. Titansfan08
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  1. Titansfan08
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Nice, CEO 10k a day
post 1632427833 02-26-2021, 01:44 PM
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#3
  1. MikeLowrrrey
  1. MikeLowrrrey
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$190k? How much is that in American dollars?
post 1632427903 02-26-2021, 01:45 PM
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#4
  1. SultanofBling
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  1. SultanofBling
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Das it mane. Good hustle
None of the above constitutes legal advice nor should be interpreted as such.
post 1632428113 02-26-2021, 01:47 PM
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#5
  1. Dogkrack
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  1. Dogkrack
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nice...how bad will you get raped on taxes?
post 1632428273 02-26-2021, 01:48 PM
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#6
  1. keyboardworkout
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Originally Posted By MikeLowrrrey⏩
$190k? How much is that in American dollars?
About $350.00
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post 1632428343 02-26-2021, 01:49 PM
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#7
  1. r32gojirra
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  1. r32gojirra
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Originally Posted By Dogkrack⏩
nice...how bad will you get raped on taxes?
That’s the figure after allowing for tax

In Australia you get taxed 47% on every dollar earned above $180k however there are discounts on some capital gains so $190k excludes the $50k I put aside for tax on the gain

Ofc that’s federal tax, the cost base for construction includes all kinds of BS local government charges and fees
post 1632428373 02-26-2021, 01:49 PM
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#8
  1. tripod29
  1. tripod29
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Das it Op.
post 1632428583 02-26-2021, 01:50 PM
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#9
  1. OffwhiteBrah
  1. OffwhiteBrah
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You owe us all a bottle of henny op
post 1632429103 02-26-2021, 01:56 PM
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#10
  1. calumscotland
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mirin brah good to see some of us are making it brah
post 1632429493 02-26-2021, 02:01 PM
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#11
  1. StrongFella
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gah damn all these successful miscers, there really is hope for some of us, gjdm
NPC Bodybuilder, former U.S. Navy
***Muay Thai Crew***
***Wrestling Crew***
***Black Crew***
post 1632429573 02-26-2021, 02:03 PM
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  1. jasticus
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Put all into btc and enjoy being set for life
post 1632429583 02-26-2021, 02:03 PM
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#13
  1. PassiveLearner
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Really impressed, OP. Congratulations on your success. Keep hustling cuzzz!

What market are you in?
BORN: 6/15/2006 DIED: 5/31/2021

I'll misc you, brahs!
post 1632429863 02-26-2021, 02:06 PM
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#14
  1. Nicklol
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can I borrow 10k
Doordasher crew (SRS)
Bidet Crew
Nissan Versa 2023 crew
Bald crew
post 1632430203 02-26-2021, 02:09 PM
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#15
  1. littlemissy
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Congrats! What's next?
R 1 35
L├┼┤
2 4 6

"No Pecs No Secks, Can't do a curl - won't get a girl" - Chengman
post 1632430213 02-26-2021, 02:09 PM
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#16
  1. kingmanaverage
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pics of house?
“Steroids is now just a word that the lazy and ignorant use to describe any guy that has more muscle and dedication than them”– Mike O'Hearn


"I am like getting the feeling of cumming in the gym; I'm getting the feeling of cumming at home; I'm getting the feeling of cumming backstage; when I pump up, when I pose out in front of 5000 people I get the same feeling, so I am cumming day and night. It's terrific, right? So you know, I am in heaven."
post 1632430323 02-26-2021, 02:11 PM
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#17
  1. kimm4
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That's great good for you!
National Level Competitor (Female BB)
post 1632430473 02-26-2021, 02:13 PM
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#18
  1. frutistafreeze
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Fuark GJDM. Mirin hard brah
post 1632430523 02-26-2021, 02:14 PM
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#19
  1. Lefticle
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OP = high value male

Mirin and repped
Always Neg Back Crew.
post 1632430593 02-26-2021, 02:15 PM
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#20
  1. Fuqdatass
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Still on spread I got to stop getting banned

Great job brah
I don’t want a large farva, I want a goddamn liter of cola

Send In The Clowns
post 1632430853 02-26-2021, 02:18 PM
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#21
  1. r32gojirra
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Originally Posted By keyboardworkout⏩
About $350.00
I think you mean tree fiddy
Originally Posted By Spazzzzy⏩
Sorry if mentioned before

How do you go about finding deals
Lawyer background from memory, who else do you partner with to get it done
Do you just buy fixer uppers or sub divide/knock down put 2 hours in a property
Where did you get initial cash from to start
How old
-get loan approval lined up then sit and wait for the right property to be listed
-my wife and I are running it, but we now have found good architect, engineer, finance guy, real estate agent and accountant so from here on out we don’t plan to have much involvement
-these are all knock down multi units, first one was 3 and we’re currently in planning approval stage for a much larger 4 unit
-bought some property at the end of the 90’s following the Asian financial crisis, used the equity from that to finance the subsequent deals. I never hold cash
-40
post 1632431013 02-26-2021, 02:20 PM
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#22
  1. TypeNirvash
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One day it will be mine turn

Mirin
post 1632431383 02-26-2021, 02:25 PM
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#23
  1. Adam16121
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Man that has to feel good. Nicely done brah.
post 1632431803 02-26-2021, 02:30 PM
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#24
  1. notbadnotbrad
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Did you just wagecel at a high earning job and save your money?

How did you get to the point where you’re so successful in real estate and have capital to invest in multiple properties
post 1632431813 02-26-2021, 02:30 PM
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#25
  1. Zackad
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are you flipping properties? or
"So t
post 1632432043 02-26-2021, 02:33 PM
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#26
  1. r32gojirra
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  1. r32gojirra
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Originally Posted By kimm4⏩
That's great good for you!
Thank you bby I’m putting away a good chunk of cash for when you finally drop your onlyfans content
post 1632432163 02-26-2021, 02:34 PM
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#27
  1. JIA
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Just noticed your location. Nice, if foreigners are doing this to get rich, then native Australians should too.

Here in America you must have lived in the house two years of the past five years to avoid a hefty capital gains tax on the realized appreciation.
post 1632440733 02-26-2021, 04:31 PM
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#28
  1. r32gojirra
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  1. r32gojirra
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Originally Posted By PassiveLearner⏩
Really impressed, OP. Congratulations on your success. Keep hustling cuzzz!

What market are you in?
I’m on the east coast of kunststralia

Some of the most expensive real estate in the world

And it keeps getting expensive-er
post 1632444793 02-26-2021, 05:21 PM
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#29
  1. dfndallsparrows
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Hey I have been analyzing the australia housing market (where jobs are) and comparing it to average wages. The time frame is 1994, vs. 2020. So the suburbs prices had 6X and the wage prices have 2X. This leaves an increase of relatives as TRIPLE! My conclusion is.....FUKD CITY OF ASS PISS. Smack out... I'm guessing Canada same shiz. I pray you sold it to an aussie local buyer
post 1632444953 02-26-2021, 05:23 PM
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#30
  1. Winston56432
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Just wait until china starts trade tarrifs on australia. China literally controlls austarlia atm.

australian market will tank. they have not had recession in 30 years so any property guy thinks they are genious.
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