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bigben
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@bigben
Join Date: 2003
Post Count: 62
February 17, 2004 - 7:19 am
Hi Ronulas,
I have to ask if you have had any capital growth in the last 10 years on your 1st property? If not then i will let you in on a secret….you should have spent a little more and bought in a good location and i dare say that in the last 10 years many properties will have almost tripled (or trebbled??)in price!
I certainly hope that your 1st property had this sort of growth however i doubt it very much.
This should be an example for what will continue to happen.+CF is a great idea but remember that real riches are made in capital gains Ie. $1m property doubles to $2m nice profit….$60,000 doubles to $120,000 nice but not in the same league.
Hope that this helps cause if you are like me then $12 a week will not buy you a lunch every week. Maybe easier to save $12 per week and call it profit!!!!
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 11, 2004 - 1:46 am
Well here is my 2 cents,
I am 25 and i have a few mates around my age and my brother is 17 and he has mates of that ageand here is what i and he have noticed
That even though i have 2 IP’s and a PPOR that i still seem to be able to go out as often as most of my mates however i do drive the oldest car out of all my mates.They seem to need to have they latest model commodore ute that hits the market. I drive a 1995 model. Not one of my mates has a PPOR ( They all rent )however they all earn only around $60 PW less than me.
They all have a mobile phone less than 1 year old.
my phone is over 2 yars old.
My brother noticed how even though he only earns $130PW (part Time) he has more money than his mates as they smoke and drive cars that are only 5years old.
Just some observations of the younger generation that i have made[]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 6, 2004 - 7:03 am
Hi Roo,
Well i must say that this sounds like a good deal as i have my trade in carpentry and am working for a building company at the moment till i can pull the pin and work for myself on my own projects.
Just one question…..will you pay for my flights and accomodation to fly me to where you are thinking or doing this work……oh how i hope that you are thinking sunshine coast….or bribie….or maybe even port stephens …yeah that would be sweet….perths good also!!!![^]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 6, 2004 - 3:16 am
Hi There Snowy,
well i have to say that you really didn’t sell me on the town and if the rents start to decrease then i will bet my last dollar that values will follow. Pull out now and sow the money into a more fertile field.
But always look at the positive- you will never make that mistake again and it didn’t even cost you money so all is fine!!
Positive cash flow is good but the real money is made in capital gains.
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 5, 2004 - 7:11 am
Well,
I must say that i have been there a few times in the last few weeks and as some of you have said these areas are sort of “low socio economic” however i see this as a window of opportunity as i cannot begin to imagine that these suburbs are going to stay that way when you have $1m properties for sale close by. Looking at sydney then i suppose that paddington was in a similar situation 10 years ago.
Mayfield seems to be buzzing with power saws and paint brushes.
Tighes Hill seems to be just starting to boom with new garages and extensions going on and also some nice properties on the “creek”.
Islington……lets wait and see….
Carrington Wickham, Lots of developers putting there money where there mouth is so that is always good.
I just feel that if i wait for the suburb image to improve then i pay a premium price??
Your thoughts![]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 5, 2004 - 5:29 am
Hey Bluecat,
It sounds like you are looking at this area as well. Just going to pick your brains as i have a few suburbs that i have been concentrating on and these are Tighes Hill,Wickham, Mayfield,Islington,Carrington. What are your thoughts on these suburbs for houses that are still a little undervalued?? [8D]
Prices have gone up considerably but still cheap compared to Hamilton Barbeach Etc.
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 5, 2004 - 4:48 am
So,
Do you guys believe that it is riding along on its own merit of is it just surfing sydneys wave?
From my experience the city seems to always be busy and self supporting as Mortgage hunter stated the beaches are the up there with the best of em.
I think that it will always be a desirable place to visit or live and the only thing is that i believe that the tourism industry need to pull the perverbial finger out and start to market the place. Maybe then it would be truly a city that looks fter itself and not just a poor cousin of sydney.
If sydney does start to stall do you think that it will push up newcastle price as investors look elsewhere?
I also believe that newcastle unit prices have to stabilise however i strongly feel houses have room to rise!!!!
bigben
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@bigben
Join Date: 2003
Post Count: 62
December 16, 2003 - 6:54 am
Sounds good book me in for one
bmakaroff(at)cordukes.com.au
bigben
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@bigben
Join Date: 2003
Post Count: 62
December 16, 2003 - 3:23 am
Yeah that sounds good but what is your email??
bigben
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@bigben
Join Date: 2003
Post Count: 62
December 4, 2003 - 4:00 am
Hi Chris,
I am in a very similar position to yourself at the moment and have been pondering just what to do to try and make things easier however at this stage i have not had any real problems servicing the loans and still have money left aside.
For this reason i have decided to keep all my neg geared properties and use the equity that i have to but positive cashys. Remembering that your properties that you have now will most likely be in better locations than you will find positive cashy’s and hence will usually get better capital gains while you new positive cashy’s will start to produce income !!
Hope i have helped in some tiny way!
Also as others have mentioned just cause your accountant shows a loss it doesn’t mean you are actually making such a big cash loss!!
“Sooner or later the man who wins is the man who thinks he can “
bigben
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@bigben
Join Date: 2003
Post Count: 62
November 27, 2003 - 7:54 am
Hey chooky,
I dont know about you but i needed oxygen after trying to read that one. I think that maybe he was excited!!
bigben
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@bigben
Join Date: 2003
Post Count: 62
November 27, 2003 - 3:19 am
Thans All,
Well i think by the sound of it that i will be better off just leaving things run as they are for the moment and i will only refinance if down the track money gets tight.
Tax man has me by the short and curleys![]
bigben
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@bigben
Join Date: 2003
Post Count: 62
November 26, 2003 - 5:02 am
Hi there,
I think that what you may wish to do is to relook at how the figures stack up with the capital gain tht has occured and you may find that is is in quite a good financial position due to the $50000 increase. If not then it certainly was negatively geared highly.
Have the rents increased with this price increase??
If it still is in bad financial shape then you can always cut your losses however i think gains like what you are getting says that it still is a good investment!
Keep me posted.[]