Forum Replies Created
by the way, stock market’s gained about 20% in last year, 20% of $420,000 is $84,000, so your comment:
“if you bought shares in just 1 year you’d be up $162K” is also unfounded.hb..I believe in diversification of assets. I am fully aware of the performance of the stock market since 2003, I already have a share portfolio, although I wish it had been bigger. However, this is a PROPERTY forum. When I want to chat shares, I go to the Comsec chat room.
Anyway, let me explain why I said what I said. I have 3 IPs, 2 I own outright which have both had great capital growth and rental income. The Brunswick one was my latest purchase. My reason for saying I would be happy with a valuation around $470,000 is because clearly the market has been flat since late 2003, so I would be glad to have ANY capital appreciation on this particular property. The rental income has been great on this property too. Of course, in HINDSIGHT, had I invested the $420,000 entirely in the stock market I would have done much better. However, I didn’t have a crystal ball at the time, maybe you did.
Your comment:
“forgive them lord…they know not what they do they hang onto any word that breathes a positive sign…..”
was insulting and could not be further from the truth.Finally, what the hell are you on about when you say:
crazy….assuming for last 2 years you be getting 400/wk rent you’ve lost $16,000 no rent minus $30k LOST without adding CPI
Just read the paper and Melb has supposedly had a 5.6% increase in the median price of property for the December quarter. Suburbs where I have my IPs have supposedly outperformed this with around 7% increases. I was rather sceptical of the figures, but when I consider that the owner of the 2 new townhouses built next door to my townhouse in Brunswick (which I paid $420,000 in early 2003) wants $500,000 each for his which are very similar, then maybe the figures do stack up. I know he won’t get $500,000, but if he can achieve even $470,000 I’ll be very happy for both of us.
Is that $6500 or $650?!? Either one sounds absurd to me. My last IP cost $420,000 (not that the property value should have any bearing on conveyancing cost) and I paid my conveyancer about $300 from memory. I’ve never used a solicitor for buying or selling property. Never had a problem. My agent has put together my section 32s and my conveyancer has done the rest.
Thanks again AP
Thank you very much Alistair.
Thanks for clearing that up shake.
