Forum Replies Created
Hi Stu macca,
Good on you for having a go and investing in property.
I personally think that your timing is probably wrong and I would probably advise you to get out if possible for the time being. It does look like we are heading for a recession that could last at least 5 years, and the international markets are marking the Oz dollar down, which suggests that they think that our dependance upon China to buy our mining output is high risk.
With commodity prices diving and the world economy slowing to a crawl, there is a real risk of some of these mines being put into moth balls very soon.
I would not pay much attention to Scamp. He is a Dutch IT worker, soon to be made redundant in the wave of sackings that is sweeping across the worldwide IT industry like a tsunami. Scamp by his own admission is sitting on large amounts of Euros which he plans to use to buy up loads of Oz property. Sadly, the Euro may not even exist very much longer if the EEC countries cannot get their act together. It may not matter anyway, because poor old Scamp is currently waching his chances of migrating to Australia under the skilled migration scheme evaporate in front of his eyes, as Kevin Rudd threatens to pull the pin on the current high levels of migration.
He has been predicting doom and gloom for years now and it looks like he will be consumed by his own nightmare.
As for that pathetic forum he recommended, Save yourself the trouble, I have checked it out, and would you believe that Scamp is actually one of the more positive posters there. It is a miserable negative site, based upon the expectation (hope) that house prices will crash..
Most of the posters are pimply-faced under-achievers who were too scared to buy houses when they could, and have missed the boat. Now they hope that prices will crash and they can move in like vultures. Sadly, most of them will probably be the first casualties of unemployment, and will quite likely have lost a lot of their deposits in the stock market collapse, if they even have bothered to save a deposit.
Most of that sad lot are doomed to spend their lives living in their parents house.
If prices do crash, its more likely that the grizzled veterans on this site, who have a track record of taking action will be the ones that pounce on the bargains and add to their portfiolios. I know that I will be ,Thats my two cents worth anyway,
KevI personally think the big bad Global Warming boogie man is a complete scam, dreamed up to sell newspapers and get cheap publicity for crank scientists.
I work in the computer industry, and I can assure you that our current state of the art computer technology is not capable of modelling complex weather and climate patterns with any more reliablilty than the daily newspaper horoscope.
I have seen so many of these orchestrated scares in my time that I totally ignore them now.
If the levels of global warming that are predicted actually happen, there will be so many billions of people in low lying parts of Asia and Africa affected that we will have worldwide famine, homelessness and wars as millions of refugees move to higher ground and swamp the people already living there . The last thing on our minds will be a few waves lapping at the door of our coastal property.
But to move on to more constructive matters, I have just put in an offer on a unit in Batehaven and hope to take ownership of it in the next few weeks. Its right opposite the beach, 100 metres to shops, walk to clubs, tennis, golf course etc. Really looking forward to getting my hands on it.
Does anyone know if there is a good thread on this site that discusses the pros and cons of renting out beachside units as either permanent rental versus short-term holiday let?
I have done a quick search on the site using keywords "holiday" and "let" but got swamped with results, most irrelevant.
I need to find out a few details about what standard of furniture and fitings I should build the place up to, whether its a good idea to let a Real Estate agency manage the lettings or should I use one of the internet sites and DIY the lettings (could be difficult with me based in Canberra).Would love to hear about other people doing the same thing, success and horror stories both welcome.
Cheers,
Kevin
