Forum Replies Created
I’ve been following this thread with interest… But i’d like to have an each way bet at this stage. [
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I think S.I.S has done a great job to achieve what he has at such a young age, well done !! As far as the HECS thing is it really anyone elses business when or if he pays back the debt ?? I’d rather see a guy “take advantage” of the system to secure his financial future than some pisshead that would rather lay on the beach and stay on the dole forever do the same…As for his accountants details i don’t think that’s relevant. If he doesn’t want to tell anyone that’s his choice. I’m buggered if i know why he chose to take down his posts though ?? [
]Maybe S.I.S has just had enough of being under the microscope ?? On that note if you don’t want attention, don’t constantly seek it… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
I’ve done some sniffing around and obtained some figures from my old man who has been buying his own real estate since before i was born… Here’s a few interesting facts he told me:
In 1981 he bought a place in Valentine NSW (Newcastle area) which he paid 48k for. That same house is now worth about 420k.
In 1985 he bought two properties in Sydney – One at Green Valley for 40k (now worth 330k) and another at Liverpool for 59k (now worth 440k).
In 1987 he bought a property at Cecil Hills (Sydney) for 177k. This is his current PPOR and would comfortably fetch 650k…
Why did i find these figures so interesting ?? Because i’m always hearing “house prices double on average every 8 to 10 years.”
Can anyway really see current prices doubling again in the next 8 to 10 years ?? Affordability is at an all time low, many of the guys i work with NEED to work 6 days a week (ie, 2 o/t shifts per pay period) just to keep their heads above water…
I for one honestly belive real estate is a great investment, after all people will always need somewhere to live right ?? But what worries me is that a correction may be needed to bring the market back to some sort of sanity. We have seen the inner city unit market cop a hiding lately, but blind freddy could have seen that coming. I just wonder will it reach out and hit harder than most of us think ??
I’m in it for long term, and even a 20% correction wouldn’t sink me. Unfortunately a lot of others aren’t in the same position. The next 12 months will be interesting for sure. I’m paying as much as possible off my PPOR (aim to own it outright within 3 years) and the others should take care of themselves…
But i also think some real good purchases may be available in the next 12 to 18 months. After every boom we have had a “bust” or a “levelling out”.
This one will be no different… []Ok, sorry for exceeding my 2 cents worth… [:p]
Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Thanks Sue for your support !! [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Rest In Peace Hookesy, seems it’s true that only the good die young… [
]I really hope the thug that ran 60 metres to “king hit” Hookesy from behind is proud of his efforts. What a senseless waste of a life… [
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Hope you spend 20 years in jail you weak bastard…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Thanks Mel… [:X] [
] []“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
I think the days of positive cashflow properties are pretty much gone for a few years at least, and possibly forever…
Those who bought anymore than 2 to 3 years ago are sitting pretty, but some people who have bought recently will struggle when interest rates rise, especially if values fall 10 or 20% as predicted. Plenty of inexperienced “investors” will bail out at the first sign of trouble, and when they see there investment dropping the “sell sell sell” mentality may well kick in…
I was too young and stupid to get involved in investing earlier, and rue many missed opportunities that i simply didn’t care about because i had plenty of time… Now i have set a goal i look at things differently. Problem is times have changed and we need to change with it. For that reason i’ve just made an offer on two properties in a very large coastal city.
With over 2100sq.m of land for $250k i can see in a few years a nice block of 8 to 10 townhouses where i can sell half and keep the rest…Time to think outside the square people. Steve’s method worked great at the time, and now he has the resources to work with. The majority of us don’t. Do what works for you, the positive cashflow boat might not be back in port for quite a while… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
That boat has well and truly sailed already. Tassie didn’t have a great deal going for it except perhaps good returns – now it doesn’t even have that !!
I remember going down to Launceston in 1996 to visit a friend i met overseas and being amazed that they paid $120 per week for a house that at the time was worth about 40k… Such a shame i was young and stupid at the time, i knew the figures where good but thought “Who the hell “really” would want to live there ??”
That same place now (at Invermay) sold recently for 135k… Damn, i should have (and could of !!) bought a dozen of them… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Yes Kay, i saw it – didn’t believe it though… [
]Pisces – Sorry mate, my post wasn’t intended as a shot at you… [
]Buying property at the moment is like playing roulette – it could end up being red or black. Hmmmm….
I think things will be a lot clearer by next Christmas, my biggest problem is worrying whether or not to grab something now that i’m keen on. Bit like trying to decided which horse to bet on unfortunately… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
I love the way people keep talking things up… [
]Anyone who believes property is not on the slide is kidding themselves, particularly in Sydney and Melbourne – I think the interest rates still have at least another 1% rise to come in the next six months, hopefully some sanity might return to the market then…
Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Yep, they are pretty selective about who is allowed to advertise in here and who isn’t… [
]Do a google search for “somersoft forum” and maybe try your luck there…
Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
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Go Brent… LOLRubbachook – Bill’s post was over a month ago unfortunately… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Has anyone read the latest Rich Dad book, “Success Stories”?Yep, i bought it yesterday actually, for motivation more than anything else… [
]As far as buying at the moment, i’m sure there are probably a few good deals still around at the moment, but i honestly don’t think there are too many “exceptional” ones about…
Even a nice regional area i was looking at has recently overpriced itself… to the extent that a block of four villas that were advertised at 440k was pulled off the market and readvertised at 500k just weeks later… [
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Funnily enough they knocked back my offer of 410k without a moments hesitation when it was at 440, it ended up going for 485… []Property works in cycles, i get the feeling now and the next 18 – 36 mths aren’t going to be so flash…
Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
There once was a guy called Bill who frequented this forum and tried to help everyone like you…
But they started a witch hunt and pretty much forced him to leave the forum… []It’s a shame, some of us miss him – if you are still reading Merry Christmas “billfromoz”… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Hey Bear, firstly let me say i have no problem with what you are doing – if people are silly enough to hand over $$$ for deals they could quite easily find themselves i think they deserve to be pay you a fee !! [
]But others have “advertised” deals, or offered to pay for a “heads up” and have had posts locked, deleted, and/or edited…
Is it just me or does it seem a case of double standards ??
Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
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