Forum Replies Created

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of CherCher
    Participant
    @cher
    Join Date: 2003
    Post Count: 2
    September 28, 2003 - 1:05 pm

    Here’s an example to support Billfromoz’s post:
    Have a number of rental properties (Victoria)which hubby and I live off, bought over last 15 years while bringing up 3 kids and both working full time(on low to average wages)Followed Jan Somers advice early on and bought at the lower end of the market in the suburbs and held.
    Now we look at regional cities. Over the last 6 months, we have found that cheap properties are on the edge of town, run down and we know from experience, just wont rent well.This wasn’t our experience 12 months ago when we bought good positive cashflow property close to town (e.g. Lakes Entrance including a to-die-for large waterfront block of land for $32k)
    So we just bought a house in a large rapidly growing regional town,with dual occupancy potential on a corner, beautifully renovated but far below suburbs prices.
    Still no positive cashflow, but the land, house and rental return make it a good investment for the long term..a buy and hold.
    (We have stuck to the dual occo formula and it works for us).
    A question though …I know about property cycles..but we have a wildcard happening surely…all the 50 and over babyboomers who have to invest in something with their superannuation pay outs in the next 5-10 years..They need to be factored into the property investment market. They aint going to all be happy with just buying shares.So this could keep the market up?

    Profile photo of CherCher
    Participant
    @cher
    Join Date: 2003
    Post Count: 2
    September 28, 2003 - 10:48 am

    Hi; First posting.
    Retired early and now living very happily off rental investments. While ‘enough could be enough’, I agree with Steve’s insistance on managing your portfolio of properties. e.g.Some get old and need to be sold while you build on the land beside or behind others to develop new ones etc.
    Also when hubby and I started, interest rates were 18% & we sold our lovely house and bought 2 crappy ones, (which our 3 teenagers hated us for) one to rent out.
    But boy, did they learn heaps so that all 3 now in their 30s have their own renters, one using hers to fund a dog refuge.
    In short, we still actively look for properties to add to or replace others and it is a wonderful lifestyle.It also includes keeping our tenants happy too.
    Hope this helps.[:D]

Viewing 2 posts - 1 through 2 (of 2 total)