Quote Originally Posted by Shareguy View Post
Congrats Habits on your portfolio. I too invested in residential property many years ago and built-up a large portfolio which enabled me to retire in my 40s. Sure there can be issues with Tenants now and again. Understand that a lot of people don’t like taking on large mortgages but overall it has been very ,very easy. Most tenants are good people. The key is picking the right tenants, doing proper reference checks and credit checks. Most of our properties are now worth four or five times what we paid for them. When we started buying people were saying the same things the knockers are saying now, “they’re too expensive, how can you cope with all the tenant problems, interest rates will skyrocket,”I have heard it all.

At the end of the day there is one simple fact “there is only limited supply of land” and like it or hate it our population is going to keep growing.

So going back to KPG I think it’s going to be a game changer for them in a positive way with residential towers at Sylvia park. The ability to take the lift down with bars, restaurants and shopping at your doorstep. A train station right there is why I think it’s going to be a gold mine. I currently have a small position in KPG and do agree with Beagle regarding the risk regarding the current net asset value. The two large shopping centres that they are selling to fund this have been on the market for some time with no announcements made.

Delta is a game changer so I would imagine that anyone looking to purchase these assets would want these at a very attractive price considering the risks. So until they have concluded the sale and we can get some clarity on the future with COVID I won’t be adding to my portfolio.
FYI they updated the mall sales process on the call yesterday - it’s in the “advanced stages” and lockdown caused some minor delay but proceeding as scheduled. In other words the sale is basically done with a few small steps left to complete before announcement is made.