Forum Replies Created
- L.A Aussie wrote:
My guess is either you are Peaknik, or you've roped in one of your GHPC mates to come in and give you a hand.
Was it the comment about gold that gave him away ?
Yossarian wrote:Not good advice to provide to others in the current climate IMHOFirst, I 'd like to say that I'm no adviser so I couldn't possibly advice anyone and it shouldn't be taken as such.
Secondly , I found the best time to buy property or shares is when the market is looking gloomy. Like in the current climate, interest rates at or near the peak with lots of sellers and very few buyers and imminent wage increases.
And thirdly , Life IS a gamble. You're taking a gamble whenever you cross the road yet that doesn't stop you from doing it. Hopefully after you do the research first by looking Right and Left and calculate the risk.Matt007 wrote:I have been involved with all this wealth creation seminar stuff for 5 years, done the 21CA, Massland, Nik Hallik, Planet Wealth, etc etc etc. Am I any further ahead? No.Hi Matt, unless you start your own wealth creation seminars or can come up with some other scam there are no shortcuts to wealth creations.
My suggestion for starters is to stop paying for wealth creation seminars and any other get rich schemes and books out there. "Free" seminars are ok , it may give you new ideas and get to meet and talk to other investors. Just leave your money, cards and cheque book at home if you are easily talked into departing with your money. And don't sign for anything no matter what they offer and how good it sounds. Always remember there is no such thing as a free lunch and they are there to con you into signing up for expensive seminars, sell you s**t you don't need and generally to create wealth for themselves at YOUR expense.
Next suggestion is to read all you can about investing in property and shares, ask for suggestions, opinions and options but at the end of the day its your money you are playing with so make your own decisions. You will have to find your own method that will work for you and the risk you are comfortable with. Never let someone control your money, tell you what to do with your money or influence you in any way, shape or form. And yes that includes whatever you read here.Good luck.
Scamp wrote:And together with you , 99% of the people looking for houses have 0 options either. So , houseprice will come down since noone can afford them. Easy enough. Don't invest in property for at least a few years.There are always options, you may not see them clearly or are to scared of the options but they are there.
"Don't invest in property for at least a few years" , what kind of bs advice is that ? At any one time there are different market forces at work in each state even down to each suburb level. Or maybe you think you will scare enough investors to cause a price collapse to a level you can afford to buy in? If so you are dreaming and will remain a renter for the rest of your life. Sure it can be scary to jump in but remember that Risk =Rewards.When I bought my first IP for 45k back in 1985 CBA and NAB knocked me back because based on my 10k gross earnings I couldn't even come close to affording it. They were probably right but I managed to score a loan with T&C anyway and struggled to make repayments for the first 2 years before the wage and rental increases caught up with the repayments and I could afford it. By 1989 when the interest rates went up and prices doubled in Perth I couldn't afford to buy another IP but bought one anyway and struggled with even higher interest rates until wages and rental increases caught up with the repayments. Since then I've bought a few more properties which I couldn't afford at the time that are now +ve geared and will remain so even if we turn into a banana republic with interest rates at 18% again. If I was to follow your advice and waited for house prices to come down to a level I could afford I'd probably still be waiting to buy my first IP.
Scamp wrote:Sav wrote:What can you buy with 150k?There's plenty of houses for sale for 150k.
Yes, but would YOU buy them ? There are either in places like Wilcannia or somewhere you'd spend 3 hrs and $300/week to get to work. May as well find a place in the sticks for under 50k and retire on Centrelink benefits.
Reminds me of Mitchel QLD about 5 years ago when Johnnie doubled the FHG for a while. All the real estate in town sold out in a few days and some buyers were even getting refunds from the leftover FHGScamp wrote:I'm not going to elaborate on why the property market is crashing, suffice to say that it will crash much harder and faster than anyone expected ( well.. except perhaps me ), and don't expect a minimal 10% or 20% drop, expect 50% drops all over Australia.You sound like one of my ex-neighbors I used to have here in WA. He owned a 3×2 house across the road from me and sold it in 2001 when the "experts" believed the market has reached its peak. Because he still owned the banks 30k he got this bright idea to go to work in UK for a 3-4 years, save his dough and buy another house when the house prices would came down a bit in 2-3 years. He sold his place for 149k paid back the 30k and put the rest in a high yield bank account.
By the time he got back in late 2004 the prices for a 3×2 house in the area he used to live doubled. Even with the 100k saved in UK and the 140k in that "high yield " account he was still 60k short of a replacement house. I suggested he'd get a duplex which at the time he could afford or see a bank manager but he knew better. He was going to wait for the property crash and buy with cash at half price from the "greedy property investors who were going to get burnt". He waited and waited for a crash and by the time the prices peaked last year a 3×2 in that area has gone above 450k. Last I talked to him he was still waiting for that BIG crash so he can get back into a 3×2 and in the mean time he is renting some asbestos doghouse on the edge of Cannington under the flightpath of Perth's domestic airport.
I wonder how many more like him are there, returning from working O/S after a few years only to find the house prices tripled and they can't afford to buy a place anymore.Scamp wrote:It's a shame that property investors gone wrong never bother posting here,it would certainly fire up the discussion.Hmmm, and all along I taught that's why you are posting all that G&D here.
cheers & good luck with the house hunting
Luke.S wrote:Has anyone rendered a brick house ??
G'day Luke,
Not as easy as it looks when the pros are doing it but it can be done if you have plenty of time, a few tools and a strong arm. If you don't have the later don't worry, you WILL by the time you finish the project.
I did some brick fences last year, about 160 sqm took me almost 3 weeks to finish mostly because I was learning. First coat was very slow and took over a week the second coat about 5 days and third one 2 days. I sponged the last coat to get the swirl effect I wanted and to match the color and texture with the limestone retaining walls I used 1 part cream cement, 2.5 parts brickies sand and 2 parts hydrated lime. A wheelbarrow of mud would do one coat of about 10-12sqm, a bit more if you don't spill that much on the ground.Good luck.
Scamp wrote:They offer them fair market value, which is 50% of what these idiots paid for their houses,What exactly is fair market value ? If a scammer cons someone to sell them a property at 50% of the average price for a suburb does that bring down the fair market value for the whole street by 50% ?
Scamp wrote:Stupid spruikers, defending the 'poor investors' who so unsuitably can't make 200% profits every 5 yearsIf they made 200% good luck to them, however some of them are not " but rather owner occupiers who will end up renting .
I feel sorry for them because first they got conned by the spruikers and now they are being circled by vultures.Scamp wrote:Don't make me laugh, please.
Before you break into a laugh, you still haven't answered the question :
"You seem very certain of this, care to share with us how do you know that FOR SURE ?"Scamp wrote:Sell.The market will keep going down until at LEAST 2010. Then it will stagnate for years.
You seem very certain of this, care to share with us how do you know that FOR SURE ?
Not that you couldn't be right Scamp but there are a few "corporate vultures" and "entrepreneurial predators" around as Graham Samuel puts it who could be spreading doom & gloom for personal reasons. So don't believe everything you read and trust no one.http://www.news.com.au/business/money/story/0,25479,23866914-5013951,00.html
ItalianDragon wrote:Imagine the next few years when petrol will cost $2 a litre, then $3 , then $5 and eventually $10 a litre.
Do you think it`s not going to happen?I'm sure it will, I remember when petrol was under $0.30 /Ltr but I also remember the average house price 10km from CBD was under $30,000 at that time.
Sure you can wait for the house you wanted to drop further but if has already dropped 40k chances are some investor will snap it up and then RENT it back to you. If the vendor is desperate there is a good chance you could pick it up for 300k or so if you present a cash offer. It can be scary to make such a big decision but as they say in the stock market, nobody will ring the bell at the bottom. By the time the "experts" analyze the data collected its 3 months old and the market has already changed direction.
Good luck with your house hunting.Probably a push by tree-huggers inside the gov. to save our foreshores from future developments and buy back the land on the cheap. They must be from the place where they stopped the wind generators from going ahead because of 1-2 suicidal parrots flying into the blades .
If the guy wants to build near water on his own block let him, who cares that the sea may rise between 18 – 100cm in 100 years? I doubt that he'll care about it by then.
Most marina developments in the past few years have already had the predicted rise in sea level worked into them. Port Wakefield in SA looks like is having problems getting off the ground and I think one of the developments just South of Mandurah in WA got knocked back recently as well so you could be right about the bandwagon.
I'm thinking that it'd be good news for the existing marina,coastal estates as the scarcity factor would push up the prices. Someone who can afford a waterfront property now is not likely to be around in 100 years anyway so the predictions are irrelevant even if they were proven to be right.I taught the media stopped all that "save yourselves, head for the hills" nonsense after Y2K but looks like it didn't take them long to find some other reason to spread gloom and doom and sell more papers. I hope they go ahead with the class action and take the council to the cleaners as well as the media for spreading the rumors. Also I'd like to see the "experts" accurately predict the rise in sea level over the next 100 weeks instead of 100 years and if it turns out they are right then fine, continue to pay their wages. But if they are wrong have them charged with spreading fear and terrorizing the population, confiscate their assets and locked them up for at least 30 year.
