Forum Replies Created
I think properties will have to come back to statistical levels of affordability. Especially with the RBA trying to contain inflation, especially wages inflation. So I dont think wages are gonna catch up to the increases that have happened in property. Therefore property will meet wages, not the other way around.
I don’t think a lot will move outwards from cities either because property prices are not the sole factor in determining where to live. A lot of people who live inner city do so for lifestyle and convenience reasons and will not change this just because properties are too expensive at the moment.With all the hype and news of affordability, interest rates etc. it’s enough to make your head spin. I think property will eventually come back to where it should have been statistically had we not had a boom.
Hope this helps…G7
It sounds far too risky. If these properties are so good why do they have to come all the way over here to sell them?
There are much better ways of finding and buying good properties in the US than that. Try Westan on this forum, he’s a spotter for good deals in the US I think.
Hey Dom, I got in first last time and I’m doing it again. I’m still of the same opinion, the market I believe is going to take a turn that will considerably favour the investors who know what they’re doing.
Property will retreat back into the shadows until it winds up again ready for another boom, say about 2011!? [wink]This guy probably just made up any nice sounding ideas to get the dummies in the audience excited enough to buy whatever he was flogging at the end of the seminar.
Free seminars and their information are usually intended to butter up the audience for the salesmans ‘close’ at the end.
In these situations use your own judgement, take anything said wih a grain of salt and dont rely on anyones opinion until you’ve done your own investigating and due dilligences.I am definately NOT buying. My reasoning is this, I will enter the market when there’s an oversupply of desperate vendors and people will have to be open to negotiations (generous ones at that too, in my favour!)
I am so sure of this becoming a reality that I’m sticking to this strategy no matter what. If this doesn’t eventuate, then obviously I’ll change strategy, but I’m so confident that it will I dont think I’ll be reverting to any plan B.I know this is a pretty strong opinion and stance but my crystal ball is saying it’s gonna be a smorgasboard for good buying fairly soon!
I would lay low for a while. Who knows what todays market is anyway? The RBA is announcing whether rates will go up again or not on Wednesday and I see the market in a mexican standoff sort of position. Everyone’s holding their breath as to what will happen, but one thing’s for sure, any new capital growth in the near future, I believe is non-existent.
Say what you want about Alpine propeties, but I think they’re a great investment. Have a look at this one I purchased in ’98 for $325 000 that I’ve recently put up for sale.
http://www.christiesgreatestates.com/greatest_estates/ge_wildcat_ridge.htm
Gotta love a booming property market…[biggrin]
Absolutely, I would. Great deals can be found anywhere, anytime. No matter what stage the market’s in there are plenty of gems to be discovered!
Usually that type of land at that price has got something wrong with it. I was just looking at land with great beachfront views in Nth. Qld for $85k upwards.
But who knows, could be a potential goldmine.1. You dont have to be friends with anyone to find the good deals or motivated sellers.
2. Typically a suburb you’d think would be good to invest in, you watch for awhile. Through this you will eventually know all the houses for sale, what price, roughly how long they’ve been on the market, what is and isn’t selling and the list goes on. I consider myself to be a semi-expert [grad] on market conditions in various suburbs and areas that I haven’t even been to.
3. If you want to buy in an area and say there are 20 houses for sale at $100k each, in todays market, 99% of the time one of those vendors would be willing to sell for $75000, or less!
Don’t worry about ‘low-balling,’ some say do it, some say don’t, but who cares, it’s your money anyway. And dont worry about agents either, they’re just an irritating and unavoidable obstacle in the way of your next deal. [grrr]
I firmly believe in this market the ball is definately in the buyers court.
Hope this helps…Good Luck G7
Usually subject to a soil test. That is just in case 20 years ago it wasn’t used as a hazardous material dumping ground etc.
‘Carn the HAWKS, we’re on our way baby, another few seasons and we’ll make the 8.
Yes definately, great post. You get a lot more bang for your buck renting at the moment, that’s (like you said) if you can ignore the ‘throwing money down the drain attitude’.
If you can amass an investing warchest while renting and put it to good use, well bugger it, I’d live in a shipping container!Not really, the banks who foreclose because of morgage defaults just simply refer them to an agent to sell. I am not aware of anyone being privvy to this information or obtaining this type of information before the reposessed house hits the market.
Try something creative. Sell them yourself and with the money you’d pay an agent in selling fees, chuck in a free car for the buyer.
Or you could maybe talk to the council and if they’re developable, get an architect to draw up some appealing options for re-development.I dont think you’d have that much trouble, the area is pretty desirable, but in todays market…?
Good Luck…G7
5×5 means a 5 year lease with an option after that lease has expired for another five year lease. If it’s something like 3x5x5 that means a 3 year lease with two additional options of another 5 years each.
The outgoings expense is usually negotiated on a lease by lease basis.
A commercial/retail/industrial property is usually as valuable as it’s current lease and leasability. If you’ve got a great looking office building with everything that opens and shuts, but nobody wants to rent it, it’s worth about as much as the materials it’s built with (scrap value).As a general rule for residential; location, location, location. For non-residential; leasability, leasability, leasability.
Hope this helps…G7
I was in Mt.Morgan the other day and it’s one of the biggest dumps in Australia. You shouldn’t waste your time going there, let alone investing in it.
I drove past the pub at 10.45 in the morning and it was jammed packed. Most of the houses are about 6 squares, 50 years old and falling apart. Mt.Morgan is a place you’d go if you’ve failed dismally at everything in life, and are looking for somewhere miserable to die.
Close to a train line is good, however a general rule is anything less than 300m from tracks or a station negatively affects a property.
I used to live across the road from a small station and the ferals, gutter crawlers and scum eventually drove me to the brink of a homicidal campaign against those who had made it their second home.Yeah, I wish I could go out and buy a negatively geared apartment and get showcased as a young gun or spend all my inheritence on land and run out of money before I could put anything on them.
Typical of the API magazine, each month it just keeps getting <edited>ter and <edited>ter.
Usually in those situtions, the +CF areas/towns, you’ll find that the town is a dying town.
It looks like this: Houses $50-70k and rents $100-$150 per week. In these places, population decline causes this phenomenon. The houses aren’t selling, thats why they’re so cheap and the vacant properties, well there’s nobody there to rent them.
Remember, if you want a house that delivers $20 per week +CF, with no chance of future capital gains, your investing simply becomes a ‘horses for courses’ type of deal. Keep your money and keep looking, there are still plenty of gems out there if you know what to look for!
Good Luck…G7
