Nah, you're wrong there as well.  There's plenty of people out here in the investing world who earn a decent positive income from property……it's just that, unlike some people, we don't carry on like a pork chop about it.

Scored 135…..that is years…not days.

Looks like my unborn grandkids and even their children can now retire.

But what's the point….may as well keep doing what I'm doing.

Ah Foundation is at it again.  I was one of the fortunate ones on this very forum I suppose who had the pleasure of listening to Foundation's excellently researched and most convincing high level economic theoretical arguments.  Didn't believe a single word of it mind you, but it was most entertaining.  You definitely missed your calling F….you really should of been a lecturer, not a quasi- property investor.  And I suppose you're right in some respects, the assets that the average smo' is investing blindly without thought or reason, and following the herd, TIC would be a fine example of this…..yes, they are likely to have problems in the future.

As for us….since reading your theories in early '05, when you divested yourself of your IP's with the dire predictions as so well detailed above…..well we've magnified our portfolio eight fold.  The wife and I now regularly compete against super funds, large institutions and big companies for properties.  It's been a hoot.  The next 4 years should see us quadruple again….I'll come back and give you a hoy then F to see how your theory has gone against mine.

That's exactly what I did with your dire predictions and advice, spat it out like a pip and then rolled my sleeves up and got on with the task.  It's been plain sailing now for quite a while.  Wish me (astute and prudent investing)…….not luck.   

Haven't posted for about a year now, but this one caught my eye.

What a fantastic "I told you so" post……absolute poppycock the lot of it.

The Perth market is a tad larger than little ol' residential Ellenbrook and Stratton.

The wise ol' sages from the eastern States should stick to what they know.  We are still experiencing a once in a lifetime surge – wouldn't call it a boom…….and the things that are underpinning and driving it all, the 25 and 30 year mining and oil/gas contracts are all still there – they aren't going anyway in a hurry…..much to the chagrin of the chaps that wish to see Perth market crash and burn.

The clowns from all of the Sydney and Melbourne media outlets (especially the oft quoted doomsayesr from BIS Shrapnel) need to stop writing about these things and actually go out and try investing for a change to find out what it's really all about.

You are all hoping to shoehorn the median residential housing market into some much larger industrial international contracting landscape, and as the experts over East have been finding out – she doesn't quite fit.

The premium residential market is still well and truly buzzing along.  Our PPoR did 44% last year, and I reckon it'll do another 30% this coming year.

The commercial and industrial markets in Perth are zipping along beautifully (over 70% last year) and are projected to do even better next year and well into 2009  !!!  Woohoo.   Not good for the wise ol' sages and their predictions that "We lead the pack, and Perth over there will fall in line with us – just watch them, we've been through it all before."  Unfortunately, Sydney and Melbourne aren't writing too many 25 and 30 yr international contracts of late.   Oh well.

Rents are also going through the roof.  Our Lessees have just been hit with rent reviews ranging from 35% way up to 105%.  About time too – they've been woefully low for far too long.  It's dragged them into the real world for a change.  They may need to cut back on the beers and pizza for a while – oh well – so be it.

ROI is just fine and dandy.  Just about settle on a nice Perth property on Friday.  6.9% nett yield to start with.  With a market review scheduled within 18 months, that should increase to well over 9% nett.  It's on St Georges Terrace right smack bang in the middle of Perth CBD, so expect over 30% cap. growth in the next 12 months. 
 

Good people of this forum, whatever you do, do not believe the naysayers and blockers that are out there.  There are deals everywhere you look, in all states, in all capitals, at all times.  Get your finance sorted and get your hunting boots on.

Life's great over here in Perth – get after it.  Whatever you do, don't become part of the "I told you so" crowd.

Steps down from aforesaid soapbox.
 

Dazza

F,

I gotta hand it to you for consistency…..you’ve been bangin’ that negative drum of yours for the full two years that you’ve been on this forum as a member.

You have come up with a massive array of thoughtful, well researched data about why the sky is going to fall in. BUT, you have consistently avoided my questions about what you would have or did invest in.

It’s OK to pour cold water on property if you wish, but instead of telling us 10 or 15 reasons why you think property is inevitably headed downwards, tell us 5 or 6 reasons why you WOULD invest in something….and what that something is.

Whilst you’ve been dissuading everyone from property investing, the wife and I have been taking action on a reasonably large scale….to the point where that investing reward from our risk taking endeavours has grown (Bank’s Mortgage Valuations came in last week) by about $ 80K p.w…..every week, for the past 2 years. This has literally set us up for life, and we now compete against super funds and institutions for prime CBD properties.

Keep on encouraging the newbies to be cautious and rent, so that they don’t make the plunge…..but they should know it’s going to cost them a fairly large price to listen to your naysaying.

All I can recommend is do your DD, play your cards smart, grit your teeth, get disciplined and get cracking. Time is ticking.

Exactly…..and if you’ve ever had the opportunity to meet one of these highly praised “Club researchers”, you’ll quickly discover that the blind faith placed in these guys is staggering to say the least.

Of the two I’ve personally met, both stood up at the front of the meeting and proudly claimed that they had no formal qualifications, and having been ‘doing this’ for only 3 or 4 years…..but with the Club’s ever so helpful support – everything is OK.

One had 4 properties worth about 900K and another had 5 properties worth 1.2 MM.

How that possibly qualifies them I’ll never know. The wife and I buy individual properties worth 6 or 7 times their entire portfolio and still wouldn’t have the gall to stand up in public and declare they are one of the vaunted “Club researchers”.

Still, if you are coming from a low investing base, these people must appear like demi-gods.

Love the free cup of tea and chocky bickies though – they are excellent for that.

Yeah mate….

I’m not interested in any of that technical mumbo jumbo or stats or whatever….it’s all double dutch to me.

Alls I wants to know is how do youse guys buy 10 MM bucks worth of really good houses without having any of the hassles…oh…and I don’t want to pay anything either. Giv vus a cuppla those and she’ll be apples mate.

I don’t have a deposit…..but me Monaro mate – ya should see her – she’s a beauty. 10.5 for the 1/4….better than this property lark any day.

See yas. [happy3]

Good on you smiley71…..congratulations on your first IP purchase.

The wife and I walk past # 20 every morning during our daily constitutional. It’s been permanently knobbled.

It used to be on one title, on the corner and fronting the river. A beautiful 102m frontage to a quiet street, and a 40m frontage to both Jutland Parade and the Swan river. A prime 4,000 sqm block.

Since the river frontage was carved off and sold for two tiny battleaxe blocks, it’s permanently wrecked it. The remaining house on about 2,200 sqm is a shadow of it’s former self, on only half the dirt with two low brick boxes permanently wrecking it’s river views.

Whoever paid 12.3m got royally ripped off. Probably expat Chinese clients of ‘big Willie’, who bought the 15.5m house, mistakenly reported in the attached SMH article as being “high on the hill in Claremont”. In fact that place was on Victoria Ave in Dalkeith also.

The journo’s certainly didn’t do any homework when they wrote that article. Must be Sydney based.

The largest and most expensive house in Perth by far is the monster on the Mosman Park foreshore. Anyone travelling up the Swan river by boat would know what I mean. People offered 42m for it just recently and they were told to go away – not enough.