Forum Replies Created
Matt,
How long have you invested in property?
Eric
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Matt,
Great that you attended my Workshop last weekend, good to see you have taken action. I wasnt aware that it was a wrap deal, but anything is possible in this market.
Please do not misunderstand what I shared in the workshop, the past 50 years in Australia residential property have been proven to double every 7 to 10 years, majority of people with properties in this itme would have seen the growth themselve. However, that means homes increase on average 10% per annum, but this is an average over a number of years, in reality some years may be 5% growth, others 28% growth.
The fact are in 1980 average median home in Melb was $43,000, and in 1987 it was $90,000 (DOUBLED). In 1997 it was $170,000 and then in 2007 it was $402,000 (DOUBLED).
So as mentioned no one can garantee captial growth of how much or how fast, but based on history shows, property does increase in value over time. The key is to get in the market and hold on to it for long term growth.
Jan Somers has been a ver strong investor for over 30 years. She has seen a number of recessions and tough times, however she has aways believed in buying wiht 4 major fators present:
1. Property value
2. Rent
3. Interest Rate
4. Your WageIm glad to hear you are very happy with Shanti's service, we do pride ourselves in our quality of conduct, service and expertise.
Best wishes Matt! I'm sure you'll do very well in any market!
Regards,
Eric
Jay,
Thanks for your thoughts. All banks do require purchasersto place a minimum of 10% deposit themselves, on top of the FHOG (if they qualify).
Grant or no grant, anyone who does buy a property should look at their financial capacity of course.
Cheers,
Eric
Richard,
Teh grant was only for a limited time, the Government can't really afford to cover more grants/boosts. All good things do need to come to and end.
For sure, excellent time for investors, and I'm sure the new cycle has now started!
In the long term, you can not go wrong with property investments, I just read the recent Australian Property Investor Magazine, Jan Somers together with a number of other experienced property investors share that this is a great time to buy, with low interest rates, low vacacies, fair market prices and good wages. They also shared to be confident in this market, do not listen to negative news, people with no investments, also look at the positibve of employement rates are over 95% rather than 5% unemployed.
I know who to listen to.
You have obviously done well with 45 IP's ! good on you, very rare for to meet a financial planner who also invests in property! Would love to meet you one day!
Cheers,
Eric
Daniel,
You are correct, a number of people may have borrowed up to their ears, however all banks have been requested that FHB but a deposit of 10% recently, so at least there equity in the properties. Banks are not giving easy loans away as they were 4 to 5 years ago.
If your comments are correct about mortgagee sales in 2010-2011, then it'll be an excellent opportunity for investors.
Eric
Richard,
You may or may not be aware of the NEWS HEADLINE just minuets ago…..
"PRIME MINISTER KEVIN RUDD CONFIRMS FIRST HOME OWNERS GRANT WILL END 30 JUNE 2009…."
Read here:
http://www.news.com.au/business/money/story/0,28323,25373584-5013951,00.html
Eric
Richard,
The basic first home owners grant of $7,000 will remain, what I meant is that the extra bonus of a further $7,000 and $14,000 for new constructed homes, will most likely not go ahead.
Of course the FHOG has been excellent for Australia's economy, and everyone hopes it will continue, I do too, however certain experts are sharing that the bonuses will not continue.
Your thoughts please?
Eric
S Hales,
Thanks for your reply, thats really ok, I do apreciate your response. Please know that all Im out there is to share information and news as I love property and investments. I've met many people who can do it, only they are either not well informed by facts, dont have any contacts that are successful i doing so, or too afraid to.
Its a good thing to be cautious, you are only protecting yourself and your family. This is natural, you must be a great mother.
Anyways, glad to have met you. Have a great day!
Eric
Jay,
Thank you for your response. I agree with you that a number of people are doing what they can to take advantage of the FHOG, however, many others would not be able to afford to get into the property market otherwise.
Obviously, the FHOG will be ending this 30th June anyway. The Government needed to boost the economy and it did exactly that.
As to property prices and picking the so called "Bottom" well thats up to everyone to work out. Everyone seems to have their own thoughts to when the markets at its lowest, but when has anyone ever mentioned when is the best time to buy?
If not now, then when?
Eitherway, first home owner or not, property fundamentals are very strong for Australia, more in certain states and others. I believe the REIA qouted that residential house medians for Melbourne in
1980 was $43,000,
1987 was $90,900
2000 was $170,000
2007 was $402,000and now anyone in Melbourne can tell you what an average home would be worth, but it sure isn't $0 !!!!!
I'm not sharing my opiion here, these are facts.
By the way, do you have any property investments ?
Thanks for your thoughts, I did read your blog. I acknoledge your concerns about the FHOG. Not everyone should buy based on their finances or affordability.
Best Regards,
Eric
S Hales,
Thank you for asking about who I am.
My family came from Vietnam 30 years ago with absolutely nothing. I have grown up in Australia learning that life is seriously tough.
I have been investing in property since I was 18 years of age. I also owned and operated my first business with First National Real Estate since I was 21 years of age.
I am an active property investor with 18 properties at the moment.
I am on of the Co-Founders for International Empire with offices in Melbourne, Sydney, Brisbane and Adelaide.
My recent workshop was in Melbourne last Weekend.
I love property and wish to only share information for positive discussions, which I welcome.
May I ask who you are and how may I learn from you?
Best Wishes,
Eric
PS> You may also look my profile or International Empire's profile on google, Linkedin, Ecademy, Facebook, MySpace & Twitter.
Robert Allen
Thanks for your prompt response!
I really love what you've shared and totally agree about the fundamentals of property. Yes, so interesting about the global property market, I feel like a child in a candy store…. so many yummie lollies to buy!
You seem like you have doen well in your property investments?
Good on you champ!
Best regards,
Eric
