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devo76
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@devo76
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September 6, 2007 - 7:22 am
I have made a good profit off muscle cars recently but i believe they are reaching there peak. If i see prices stall i will put my car on the market quick as at just under going rate to move it quickly. Then ill invest the money in either my PPOR or another IP,depending on the market
devo76
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September 6, 2007 - 12:43 am
Thanks guys. Im not sure how high muscle cars can go. History shows that once housing is flat and the economy slows.Muscle car prices suffer a fair bit becouse they are a luxury .I also heard that muscle car profits may be tax in the near future. I guess it was only a matter of time before the tax man got his slice.Also prices for cars in america have flattened and dropped on some models.
So i guess i want to jump with a good profit instead of risk it.
As for walkies being crap. What ever. $110,000 offers say they are alright to me.
So if i sell i save money on interest payments and after another IP purchase get some axcess to more capital growth.
devo76
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September 5, 2007 - 11:30 am
Ha ha ha. Yes i wouldnt pay what they are worth today thats for sure. But i have had three genuine offers of $110,000 so you will have to increase your offer a bit.
devo76
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September 4, 2007 - 12:52 am
hsv group a Walkinshaw
devo76
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September 3, 2007 - 8:32 am
Good point. Unfortunately many would rather do nothing and when they hit the wall,they will bitch that no one helped them or warned them of there impending financial doom.
PS I have two of which one i could cut up tomorrow.
devo76
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September 3, 2007 - 4:41 am
I know people making good money and save like mad but absolutely hate borowing money. They would never consider lending money for investment purposes. Only to pay for there own home and they still only bought a very modest house in average area. Choice (A) would suit them.
But many people understand borrowed money and good cashflow increase wealth and to them option ( would be the only way to go. Me too
devo76
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August 31, 2007 - 9:05 am
devo76 wrote:
Bugger 64
Re assesed with where i should be in one year (house paid of and second investment property) Increased to 365 on the dot. Now to stick to my plan and increase again and again and again.
devo76
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August 31, 2007 - 7:37 am
Bugger 64
devo76
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August 30, 2007 - 12:39 pm
Tysonboss1 wrote:
The only way the government will lessen the burdan off high prices off lower income families is by giving incentives to developers to develop more low income housing.
taking away the tax benefits means less investment dollars will flow into developments, less property available means higher rents. how would this help people own there own home.
low housing affordabilty is not somthing new, look at any big city world wide, try to see if the average wage earner can afford a 4 bedroom house in londan, new york, tokyo or paris.
Australian cities are now entering the age where they have grown to the piont where they will become unaffordable for the average wage earner to buy a home it's completely normal and unavoidable.
yes there was a time where even a low income could buy a 4 bed house on a1/4 acre block,…. but those days in the capital cities are over.
Spot on. I believe australia is entering a period where major city housing is for the well established investor or life long renter.
Same as many other major cities world wide.
devo76
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August 28, 2007 - 9:25 am
From what i understand the government tried this before by removing neg gear tax breaks. When they did everything went to s#!t leading them to reverse there decision. Also not everyone will buy a house with many just renting during there life.The government will not provide housing for everyone so who do renters rely on for housing INVESTERS. Many groups believe more needs to be done to bring investers back to property not drive them away.
devo76
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August 27, 2007 - 8:57 am
Me i love the luxuries but still plan for the future. Not much point living like a hermit so you can retire at 40.DUDE YOUR 40. Thats a lot of livetime spent and gone. Id personally rather live a comfortable life all the way through than just save for the last part. All about balance i guess.
Im 30 and by the end of the year i hope to own my PPOR 100% and add to to my first IP soon after. I have also
Owned many cars,boats,bikes,pets,toys, etc etc
Traveled
Partied like mad
Made friends all over the place.
Splashed out on crazy luxuries.Tried most things once or twice
Done many stupid stupid things
And had NO REGRETS.
You only live once so make sure you live the whole way through.
PS The 40 comment wasnt directed at anyone,just trying to get my point across.
devo76
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August 26, 2007 - 8:20 am
I have bought two. (although i wish i bought them before i bought my IP). I find them handy for people like me who are just starting out in property investing.I understand the general areas that are booming. ( SE QLD etc). But i find the reports tell you before the areas increase to much and gives reasons why to buy there. Those reasons help me understand more about the market and help me find my own places to buy. I bought the latest SA report. Even though i know adelaide is likely to boom next this report goes into more detail about specific areas. Probably not worth it to more advanced investers but definately worth it for people starting out.
devo76
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August 25, 2007 - 7:53 am
I second that comment. While i agree many may be in stress. There are a whole lot more that could easily fix there problems by changing the way they live.
devo76
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August 24, 2007 - 12:50 am
I built my first PPOR that was completed early 2001. Cost was $185,000. By mid 2002 its value reached $300,000. By early 2003 we had people door knocking offering us $380,000. Not bad for a young couple with there first house in a country town.My biggest mistake was not taking advantage of the growing equity earlier by buying a IP in early 2002. LIve and learn
devo76
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August 18, 2007 - 7:04 am
I only purchased a IP about 6 months ago although i wanted to buy one just after purchasing my PPOR 5 years ago.
That waiting cost me possible capital growth in a IP like i expierianced with my PPOR. Live and learn.
What finally got me going was dropping in to a few lenders and finding out my borowing power. From there i had a idea of what i had to do plus the investing bug began to bite. Thats just my expieriance.
devo76
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August 18, 2007 - 6:59 am
I like this topic. Its like the holden vs ford debate. It can never be won as it relies heavily on personal taste and expieriances.Still a good read but.
devo76
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August 18, 2007 - 6:56 am
I live in nowra on the nsw south coast. I was born here although i spent some time living in canberra. I love it here.
Minutes to the beach with some world famous beaches and jervis bay is fantastic for all watersports
Endless bush for dirtbike riding and camping
Some of the best rock and of shore fishing in australia
less than 2 hours to sydney and 2.5 to canberra
fairly cheap to live.
Night life is not great but you can drive to wollongong for a night out or go to sydney for a big one.
Mountains nearby
The land is very attractive,green,undulating,close to rivers ,bays and beaches.
Plus all my friends are here. There all coming over tonight for a bit of a rage.
Despite financial uncertainty in times to come with housing and debt etc
I LOVE MY LIFE
devo76
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August 17, 2007 - 8:03 am
Thanks foundation. Thats good to look at. Now do you believe we could ever see a flat period of that size ever again. Surely in modern australia with a growing population etc we should still see steady growth for the long term. We are a relatively young country so we were only really just getting going early in that graph.What are your thoughts
devo76
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August 17, 2007 - 2:20 am
foundation wrote:
crashy wrote:
money is pulled out of equities and is reinvested in property. thoughts?
What money? It's the same credit expansion that's been the main force pushing shares higher, property higher and national productivity higher for the last decade. Credit = loans. People borrowing to buy. If they pull money out of shares they'll pay back loans first. This also adds volatility to the market… higher leverage = more flighty investors with more to lose = wild and unpredictable swings.
Geez, I know people that have 'pulled equity' out of their home to buy shares! Crikey, talk about doubling down! Excessive borrowing led to excessive house price growth which led to further excessive borrowing (against house price growth) to fund further excessive growth in house and equity prices…
Forget about the 'subprime crisis', what we should all be focusing on is the liquidity crisis. If lending slows significantly, we'll have simultaneous falls in everything that has been bid-up by the credit bubble. Equities, house prices, art, muscle cars, numismatics, domestic productivity… you know, all that stuff. I posted a two-part rant about this here and here if anybody cares to read it.
Muscle cars. Hope not
devo76
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August 16, 2007 - 10:22 am
v8ghia wrote:
Hey Devo – don't worry about wasting money – just imagine how the poor cow that would be silly enough to spend 100 large on a VL Commodore will feel a couple of years later on…..heh heh (nothing personal – just telling it like it is—if you can get anywhere near that take it and run!)
Funny thing is it will probably be worth $250,000 in years to come, The next muscle car boom will probably see them reach $500,000. I cant hold on for that long. Want to pay my PPOR of and buy more property.