Hi,
Have just read this post, and would like to make a comment.
After putting together a small portfolios of 6 IP’s in the last four years,in the last quarter of last year amid a lot of uncertainty re property investing, I decided to it was time to sit on my portfolio for a couple of years and play a wait and see game.Property investing had been very good to me, but I could see the cycle changing and prices had reached a point where I could no longer sustain my guiding principle in investing,that is: ” THE PROFIT IS IN THE BUYING”
Instincts told me there were better opportunities else where for medium term future investing.

So, I placed money that would otherwise have been used in financing the next property in the share market and proceeded to immerse my self in the world of the ASX.

Well, how wrong I was.That 2 year hiatus from property investing lasted 6 months. Recently,I noticed a 3 bedroom house in a bayside suburb listed for $199k.I thought it would have to be dump for that, but as it located not far from where I live, I drove past and was suprised how good it was and so close to beach.I immediately rang the agent, discovered it was a deseased estate and the relo’s were selling out quickly.
Any way I offered 170k by email that day and asked that agent not to ring back unless it was to say the offer was accepted.That night I owned my seventh property. What a shock! This deal could probally be flipped, but at this price I will offer cheaper than usual rent and sit on it for ever.I have already made money on this one.
So I am back in the market, ( i’ll keep the shares, but stop buying until the world calms down a bit.)I believe now is a great time to hunt out those bargains that are being sold by the pessimists and intend to up the ante in the next 12 months. As for interest rates rising, well I would prefer they didn’t , but one has to take the longer term view with real estate. My great capital gains over the last few years will help sustain some knocks in the next year or two.
Bye,
Hula