The PROPERTY DOCTORS, Sydney Australia Novak Properties
NOVAK PROPERTIES CREW and PROPERTY LEGENDS in the industry share their experiences and knowledge. Hacks and tips to make you a smarter property GURU :) Learn with exclusive content, advice, insider info and HOT real estate industry PRO SECRETS. For sale, for lease, residential, commercial, buying off the plan, finance, mortgages, interest rates, first home buyer, investments - all topics covered. The untold real estate info you've been waiting for.
The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP. 1452 Make $100k in 100 days! finding the needle in the haystack
Ready to discover how savvy investors are making $100,000 in just 100 days? Our latest deep dive takes you inside the world of strategic off-the-plan property purchasing, focusing on a golden opportunity that's hiding in plain sight.
We take you through the Havana project in Dee Why – a nearly-completed development that's offering remarkable value compared to current market prices. Through our analysis, we highlight specific properties like a standout level-four courtyard apartment priced at $1.173 million that could potentially be worth $1.35 million upon completion in just three months. This isn't wishful thinking; it's based on our comprehensive market knowledge and recent comparable sales.
The conversation explores the fascinating "banana bump" phenomenon – where the final units in a development establish new price benchmarks, creating instant equity for early purchasers. We delve into market dynamics and explain why the strata market is primed for significant growth after lagging behind house prices for years. The wisdom shared is captured beautifully in our retelling of the Calcutta Diamond story, reminding listeners that exceptional opportunities often exist right under our noses.
Want to find your own diamond in the rough? Listen now to learn how to identify undervalued properties, understand developer pricing strategies, and position yourself to benefit from the coming strata boom. Contact us directly to explore the Havana project floor plans and discover how you could be securing your own slice of immediate equity.
a hundred thousand dollars in a hundred days. It's possible with off the plan. We're gonna give you some tips this morning.
Speaker 2:I'm the ringleader. So let's go. Morning. Josh Rapshot. Mike Novak 100k. Top of the morning, yeah, top of the morning, yeah.
Speaker 1:What do you think? Now, this is your topic this morning. You were keen to talk about this. What are you seeing? What do you know? Now, this is your topic this morning. You were keen to talk about this. What are you seeing? What do you know?
Speaker 2:Yeah, well we had a look over the plans of the Havana project. If anyone doesn't know, that's the new development on the corner of Oaks and Pitwater Road. See, we're getting closer and closer to OC there, guys. So I believe 1st of September, is that correct, mark Yep? So right around the corner. And I thought not too many off the plan opportunities, most the ones we talked about 18 months, 12 months plus, whereas we're coming down to a three month period almost to to the completion of the Havana project. And, like I said, we're looking through the plans and I thought why don't we bring up some hero stock or some stock that we thought really stood to the completion of the havana project? And, like I said, we're looking through the plans and I thought why don't we bring up some, uh, hero stock or some stock that we thought really stood out for a chance to buy us, to make some money?
Speaker 1:what about let's? What about the attitude of the team?
Speaker 2:yeah, it was quite surprising. We did a a bit of an exercise where we put prices on things of where we thought they stood and then we went back and checked them against the developer pricing and there was a couple of standouts where we thought really well priced and an off the plan opportunity that, like I said, you're not going to have to wait too long until completion. So it's almost like a three month settlement in a way. Mark you know, buying, buying now at the moment if you've got a longer settlement, it's almost like buying live on market it reminds me of the um the calcutta diamond story.
Speaker 1:Have you ever heard that story?
Speaker 2:oh no, please refresh me I'll give you a.
Speaker 1:I'll just give you a really, um, a really brief version of it. Um, the story, the story of the Calcutta Diamonds, um, was this farmer. He's like this is too hard, this farm's too hard, and he gets told about diamonds by this, like wizard that comes to his farm. He searches everywhere, around his city, around his country and around the world, and his farm goes to rack and ruins and his wife pisses him off. And, um, he comes back to the farm five years later and he sees this farmer, much like him, happy kids working the land, and he's like man, that was the life I just should have stuck to. That was such a good life. And he goes up to the mantelpiece and he looks at this, at this diamond on the pant on the mantelpiece, and goes to the farmer where did you get this? He goes, oh, just the two, just the rivers at the back, the two white peaks, the rivers there. And I got it. And it was the story of the Kolkata diamonds Under your nose. Off the plan, money to be made, the diamonds.
Speaker 2:Wow, yeah, well, that definitely relates to think of this topic this morning because, um, I think we've sniffed out a few diamonds late, late yesterday and um wanted to share viewers this morning to to ensure that, uh, people that are watching in only get educated but, uh, opened up to opportunities on the market that they might not thought thought of are there. So, yeah, that's exciting stuff. But I thought, um, I thought we'll start off with an example of a, a hero within the havana. Um, we've got a, a quite interesting courtyard apartment that's actually sitting on level level four, so it's almost like a elevated courtyard of such Really nice apartment. So it's on level four. It's a two-bed, one-bath, 69 square metres internal, and you've got about roughly a 40-square-metre backyard area, whether it be a courtyard or the balcony area itself. So you're sitting on about 109 squares on title and the price on this is $1.173 million and I thought that was really well priced considering what we've seen a lot of courtyard apartments go for in DY Are they going to make $100,000 in 100 days.
Speaker 2:Well, I think for that example, yes, I definitely see a courtyard apartment of that stature, brand new, right next to the Merriton Lighthouse. You know you're talking 135. You know that's what I'd be guiding around, those sort of figures on market, if I was representing someone now. So I think there's maybe even more than 100 in this specific unit, especially with the fact it being brand new. A lot of the stock we've been selling is either you know, the newest stock with courtyards, and things are in the 2000s, so you're talking about 25 years newer as well. Mark, we've been selling is either you know the newest stock with Courtyards and things are in the 2000s, so you're talking about 25 years newer as well, mark no-transcript.
Speaker 1:But what is that with people Like I had and I was talking with some senior management from Merriton the other day and you know the community just did not like Merriton DY when it was in the planning stage, so against it Got approved, started getting billed People like nah, nah, nah, nah, nah, nah, not, not, not, not, not, too big, too big, not, not, not. And look at it today. Look how much you know I was. I was saying they were selling. The people have made 65 on average in six years. People that have bought, bought that property. So I'm just like, oh my god, that has made so much money so quickly. And here is another property under your nose, needle in a haystack diamond in a rough the calcutta diamond story. It is there even under your nose, josh, even under my nose. We, we did not know that value and we sat down and just I was so convinced. And then I looked at it and I was like, oh my God, there's some crackers in there.
Speaker 2:Yeah, yeah, exactly right, there really is, and I think it also plays on, you know, the positives of what Meritan, or a lot of the residents, take out B-Line bus line is right in front of your doorstep, all shops, services, medical, all within walking distance and, like we've seen, yeah, I think Merriton has been one of the best additions to the DY centre. I think Cis could you name something else that's probably come in, that's had this much impact, and I think it's been very positive.
Speaker 1:Definitely not Now. I think the timing's important as well. I think, guys, if you're super smart, listen to what I'm saying. The strata and I've been saying this and it's playing out. You can go back on any of our pre-recorded stuff.
Speaker 1:Six months ago, nine months ago, 12 months ago, 18 months ago, I have been saying houses have doubled, units have not. Houses have doubled, units have not, and I've been saying it for years that units are going to have a big run. We have seen a massive run on units in the last two months. We will see a massive run on units in the last two months. We will see a massive run on units the next two years, and this type of stock is going to benefit from that. In addition to what we're talking about, not only is it a good buy, not only are people fragmented when they buy off the plan, because this is not a full plan, if almost now, because it's going to be finished in 12 weeks. So you're still getting off the plan. Cheapness, but you're getting that finished price. You're going to get that bump plus. You're buying in a in a red hot strata market definitely.
Speaker 2:Definitely. Well said, mark. Yeah, I think it's a real opportunity. If anyone was looking for something, um, this is. This is an example of a great buy. You're sort of landing yourself straight into equity and, like you said, you're getting the benefit of your pricing. That's off the plan, but essentially it's ready and ready to go within 12 weeks. So massive opportunity out there for any keen buyers, investors. Where I just see this stock sitting against the rest of the market currently, which is you know we're real see this stock sitting against the rest of the market currently, which is you know, we're real low on stock levels, I think it's great and it's only going to be a matter of time before these opportunities are snapped up.
Speaker 1:That's a good point. That's a great point, you know. Look at those stock levels the last month or two. Now what I want to teach people is there's a thing called depth of market. So if you look at DY, for instance, it probably sells 30 to 40 units a month.
Speaker 1:What happens when you introduce 100 units a month that have to be sold? There's only going to be a consumption of 30 to 40 units. You can't possibly sell 100 units. The only way to increase that depth of market is by heavy discounting. So these developers discount this stock because they realise they simply can't sell that 100 units in a month. They just can't. There's only 30, 40 selling and that stock's always coming on. So the depth of market with Off the Plan is great and what it actually creates is a thing I call the banana bump. And the banana bump is that what it does when the last one's sold in the building? Josh, you sold the last one in Jubilee 15 Jubilee warehouse and all the other warehouses were selling for what the last one sold, for what that's called the banana bump. Tell us more.
Speaker 2:Yeah, so last all the warehouses were selling for about $1.98. I think towards the end of to ends of negotiations we landed a one, two, five, so um inclusive gst there. But yeah, big, big bump, um considering 15. Yeah, exactly how many weeks in a matter? Well, the last sale before that was was two weeks ago so, but prior to that the last one. So supply and demand uh, less supply demand's always there in the Northern Beaches. So as that supply comes down, just like we're seeing in stock levels, you'll start to see those prices increase as well. So I think this is a great opportunity where you're potentially not competing against other buyers here as well. It's first in best dressed.
Speaker 1:It's fatigued, fatig, it's fatigued, fatigued, fatigued stock. People get used to having the stock for sale and around, and when it's gone, it's gone. Everyone's like, oh my god, I should have bought one, and there's that banana bump at the end, there's that banana bump at the end. So, guys and girls, that is how you can make a hundred thousand in a hundred days. If you are out in the marketplace and you're buying something, enjoying the banana bump, finding the diamond in the rough, finding the needle in the haystack and off the plan um, and benefiting from it, talk to us. We will hold your hand and step you through what we know are exceptional buyers.
Speaker 2:That's what we're going to do exactly exactly big opportunity guys, specifically that courtyard apartment that I really like. If you'd like to look at the individual floor plan or know a little bit more about the Havana project, please feel free to reach out. I think this is an opportunity not to be missed. Go on, Josh.
Speaker 1:Good spot, good spot. Thank you See. You guys have a great day. We'll see you next time.