Posted: December 9th, 2014 | Author: Marcus Dangerfield | Filed under: Business and Economy, Wealth Creation | Tags: Alan Dixon, New York Property Market, Wealth Creation | Comments Off on Aussie Property Mogul Becomes Biggest Single Investor in the Big Apple
An Australian businessman’s investment fund has divided locals after amassing hundreds of properties and becoming the largest single investor in family homes in the New York region.
Over the past three years, Alan Dixon’s fund has spent $610 million on residential property, buying nearly 600 houses and making his company the biggest investor in single family homes in New York.
Mr Dixon’s fund buys historic houses, many of them abandoned or rundown. They buy them cheap, renovate them, and turn them into luxury homes which command top dollar on the rental market.
The purchases are made entirely in cash, and real estate broker Victoria Hagman said Mr Dixon’s all-cash deals are driving up prices :: Read the full article »»»»
Posted: May 21st, 2013 | Author: Michael Courtenay | Filed under: Favorite New Thought, STANDOUT, Wealth Creation | Tags: Altona-Point-Piper, Copper Beech Farm, Lauder Greenway Family, Real-Estate-News, Standout | Comments Off on New Home? ….Copper Beech Farm $US190 Million
Earlier this month Sydney’s house prices topped out at $AU50 million – Altona, a Point Piper harbour front mansion – In the US however, a house has just gone on the market with an asking price of $AU195 Million.
Copper Beech Farm – named for the Copper Beech trees, not a US misspell – is set on 20 hectares/50 acres of manicured (subdividable) lushness, it boasts 12 bedrooms – excluding separate staff quarters – 9 bathrooms, standout views across Long Island Sound, two islands, private beach, grassed tennis court, 25-metre swimming pool, a proper geenhouse, gatehouse and stone carriage house.
The style, a Neo-French Renaissance manor house, isn’t why the asking price is so high, nor is it’s history, Copper Beech Farm is a breezy 45 minute drive – as if you’d drive – to New York City. What’s that sound real-estate agents keep making? “Location, location, location.” Check the full rundown of Copper Beech Farm at it’s international agents website: christiesrealestate.com :: Read the full article »»»»
Posted: February 8th, 2012 | Author: RP | Filed under: Business and Economy, Wealth Creation | Tags: Demographia International Housing Affordability Survey, Home Owners, Housing Debt, Investment Advice, Mortgage, Property Investment, Wealth Creation | Comments Off on SMH MONEY: Blueprint for Wealth
It has been the wealth strategy of a generation. Buy a home. Look after it, improve it, upgrade it. And if cash flow allows, gear up to your eyeballs to buy more property for other people to live in. For the baby boomers and for many from generations X and Y, it has been an easy path to success.
But the prospect of lower rates of capital growth and possibly even falls, if the doomsayers are right and the global economy takes another big turn for the worse, has changed the outlook for property investment.
Home owners and investors will need to be smarter about property. Solid rental yields, buying the right property at the right price and less dependence on gearing will be the key to making money. The days of certain returns made by gearing up and hitching a ride on the market boom are gone. At least for now.
In November, The Economist magazine said Australian housing prices were still 38 per cent overvalued when compared with incomes and a hefty 53 per cent when compared with rents. Household debt levels in Australia exceeded those in the US at the peak of the boom, which makes us highly vulnerable to falling prices if the worst case of a second crisis – worse than that of 2008-09 – happens.
In December, ratings agency Moody’s said Australian house prices were unsustainable and last month a leading US real estate analyst, Jordan Wirsz, predicted Australian house prices could fall by as much as 60 per cent.
Last week, the Demographia International Housing Affordability Survey found Australia was one of the least affordable countries in which to buy a home. The median house price in capital cities was 6.7 times the median annual household income – with only Hong Kong being more expensive. Sydney was the least affordable city in Australia, with a median house price 9.2 times the average annual household income.