Forum Replies Created
I saw that advertisement but didn’t cut it out.
Yeh, I wouldn’t mind being driven around. [:o)]
However I bet they will be putting on the hard word.
(Sign or else [}
]I’ve heard stories before that people going on a free trip who won’t sign up are threatened that they will be left behind.
I am not talking about these people (I wouldn’t know them from a bar of soap, have never ever heard from them).
That story related to people being taken on a plane trip interstate.
Pisces133
thanx for that!! Much appreciated [
]For some weird reason all my emails were sent to junk mail..so Im sooo outta the loop its not funny!!
Im really starting to dislike my puter…I may be tempted to turn it onto a fishtank!
Jarrod, I cannot find you in the phonebook !?
Can you provide us with your email address or a phone number ?
Thanks,
Pisces133
Sorry guys to be monopolising this topic as much as I have.
Unfortunately I need to respond to Kay’s question which asked : “Flips would seem to be to be an extremely risky strategy in any time other than a boom.” and “How can one be sure of making a quick profit these days? One might be lucky to break even.”
There aren’t any guarantees Kay. Nevertheless,
flips is the one thing which I am very keen to do at the moment. As long as one works in an area where people can afford to buy a house there will be buyers. (To me that means a price range of between $ 100 K to $ 350 K).(So the City of Sydney and immediate surrounds are out).
The comforting thought is that as long as one doesn’t overcommit one cannot come to much harm.
And if one wants to reduce the risk start thinking of working with options.
For me, building new dwellings and/or buying negative geared properties are out because I don’t really know what the future will bring.
If that sounds contradictory to what I said to housesOnly, it isn’t.
I am merely playing safe. Like many others, I expect that there will be a downturn in the prices of properties. What I don’t profess to know is how big and for how long the downturn will be.
As I don’t want to sit at home twirling my thumbs I choose what I consider safer areas for the time being.
If anyone has another viewpoint I would love to hear it.
Pisces133
>>Nobody can argue that today is at, or close to, the peak of one of the biggest booms that Australia has ever seen. This should be an fair indicator to the extent of the boom and thus the extent of the bust that is required to return balance to the market.<<
HousesOnly, I happen to be an old sharetrader and most interested in cycles. I have learned one thing if I have learned anything at all and that is that a long term trend isn’t going to reverse overnight.
Your expectation of the sky falling in is based on an assumption that there will be a retracement of considerable magnitude.
One other thing which I have learned is that I cannot, economists cannot, the Reserve Bank cannot, no-one can, predict what exactly will be the future.
One can project yes, but …………. just make sure that whatever one projects isn’t written in stone as ANYTHING can happen.
Large trends are caused by important fundamentals, the other socalled causes which reputedly move the market only do so for a short time only.
The one important fundamental which I keep returning to is the continuing influx of immigrants.
That factor alone will cause a demand and drive the market up (or at worst, sideways).
The other important economic factors are the economy and the employment. Both appear to be on the up and up.
So what large negative factors (factors which will move the market in a large manner) can you see ?
Terrorism ?
Pisces133
Chan$ posed the following questions to HousesOnly :
What if the property price is not downward?
What if the price is not downward at time you suggest?
what will you do from now to your prediction date?
I have disclosed my strategies, i.e. that cashflow +ve properties and flips are the way to go. so what are you going to do HousesOnly ?
HousesOnly, if you are really absolutely convinced that the sky is about ‘to fall in’ rather than playing the devil’s advocate let me too ask you a question.)
Am I right in assuming that right now
you are in the process of flogging off any property you and your family might control and putting the dollars into government bonds ?And why not as you will be able to buy them back later on for cents in the dollar if your scenario turns out to be correct.
Pisces133
>>All booms are always followed by a bust.<<
Housesonly, those words are too strong. They evoke pictures of the sky falling in.
Prices retracing a bit may well be a disaster for those of us who are overcommitted but it isn’t a reason to stop being interested in buying properties.
One’s strategy may perhaps have to be adjusted, that’s all.
Cashflow +ve properties and/or flips are the way to go in times like these.
Remember, no matter what happens people have to live somewhere. So if one has rental properties the sky cannot ‘fall in’.
As long as there isn’t an oversupply or a threat of a stack of new dwellings being built to compete with us (how could a new dwelling possibly compete rent wise ?) one is safe as …….. eh houses.
Pisces133
Pisces133
Wow, you have got $ 50 K and you are only 17 years old as yet ?
You will set a record on this site.
My first thought was to give you a facetious response to your question ‘How to retire with
50 K’ by suggesting you move to a low wage country where, with that money, you could live like a king.There are indded countries around like that.
However, I take off my cap and bow instead, you are obviously a very enterprising and industrious young man to have earned as much as that before you are even eighteen years old.
I take it you are still going to school with a part time job ?
Now please don’t disappoint me by telling me that some aunty or uncle gave it to you.
Matt, you have the world at your feet.
You complain about not enough people having responded to your post. I would think that sofar you’ve had good advice.
If I may add to this it is to not ‘Act in haste and repent at leasure’. Take it slowly to start off with.
Just the one purchase is ample for the time being. It will get your feet wet and you can do some further study.
I also would like to suggest to not pay for the property out of your own pocket. Take an 80% loan with an offset account attached where you can park the balance of your money.
Then if you find another good buy you can move in.
Pisces133
You CAN get 80% finance though possibly you may need to go to more than one lender (and of course you can only do that if the proeprty is strata titled.
BTW, here is a tip.
You can apply for strata titling, and upon approval the council will endorse your linen plan.
There is however no need to lodge it until you desire to do so (many years later perhaps).
Thus the rates will likely be less that when the block is strata titled.
Also council may put many more conditions in the D.A. approval (for example fire protection or contributions etc) if you wait a long time before lodging the D.A. with council.
Warning : please check with your state’s Land Titles office to check whether what I said above holds good for that state.
Pisces133
>>so that means the developers solictor could be holding three or four deposits on each unit ?<<
WWWWhat ? Are you selling one and the same property several times ?
I suggest that next time you put a condition into your contract of sale which states that the deposit is to be released to you upon exchange.
The buyer’s solicitor will probably jump up or down because his imagination is creating big mishaps in his mind.
You need to disclose in the contract anyway that, despite the fact that you are selling the property, you aren’t the actual owner yet anyway so it is a small step from there to get them to accept that you have already paid a deposit yourself.
If the buyer’s solicitor still objects, tell the buyer that you will only proceed on the basis of that condition being part of the contract and to tell his solicitor to either accept that condition or else go away.
You may also point out that you don’t want the point raised with your solicitor (thus probably increasing your bill) and if the buyer’s solicitor does so that in that case the deal is off.
You must of course be reasonable and provide evidence that you have actually paid a deposit yourself already.
A bit of posturing will go a long way and make things a bit more interesting.
Pisces133
Ill stick to well earned much used and never fail excuse!!
“but I was looking at that cute guys buns..”
OK it might not work for all of you……hahahaha
:þ
well I opened this post with much trepidation…….coz I know what we were doing at midnight!! hahahahahaha [
]Needless to say after that……we watched a vid LOL
Happy (belated) New Years ppl!!!!! [
] Hope you all had a good one!!:þ
Hi Guys,
Food for thought… I purchased a block of 5 units in whoop whoop for $150,000 while my friend purchase one house in suburbia QLD near the beach for round the same price and round about the same time(beginning of last year). They have both doubled in value, so the capital gains is about the same. The difference is however is that my I get $430pw in rent and he gets $200pw in rent… So who in the end is better off?
#####################
Tomorrow, you might wish you started today.
#####################Guys, when talking about commercial properties please detail what kind as then at least everyone is on the same wavelength when we are talking.
Commercial can mean anything e.g. shops, offices, specialised retail like a service station, a freestanding isolated shop or premises, etc, etc.
They all have different returns and carry different risks.
The location too can make all the difference in the world so a more detailed description will enable everyone to immediately get a similar picture in their mind.
BTW, I absolutely love shops, especially in country towns. Lots of opportunities there, especially recycling existing buildings.
Thanks,
Pisces133
Everything is fine ………….. until one buys a cat in the bag.
Who do you blame ?
Pisces133
There are some auctioneers around who will auction your property.
You yourself will have to be responsible for the promotion and publicity of the auction.
Pisces133
Despite the catchy headline in my post the post’s
purpose (main purpose if you like) was to bring to everyone’s attention that one can onbtain free access to the thoughts, as expressed in different talks, of the Reserve Bank’s heavies.Pisces133
Smiley (if you are still around, you posted four identical posts, can you delete three of them please ?
Alternatively, are you able to do this Richmond ?
Thanks,
Pisces133
Hi Philip,
These are genuine questions so please be so kind to answer them.
Please tell me what exactly is a ‘buyers advocate’ ?
How does this work ? Is it just someone with strong opinions shooting from the hip (read ‘lip’)or does it look as if he looks at statistical data to arrive at his opinions ?
Can you please explain to me (with an example) what you mean by “c income negative/cashflow positive”.
I also don’t understand what you mean when you say “I use a buyers advocate as Im not ready to do the deals yet but can afford to get into investing.”
The above statement raises two questions in my mind :
Firstly, what has a buyer’s advocate got to do with your type of purchase ?
Secondly, (presumably you mean by the word ‘deal’ buying a property and reselling it quickly again) would you please explain why you aren’t ready as yet ‘doing a deal’. Is it because you haven’t got the time required or is there some other reason ?
Pisces133
Hi IWFFNP,
Obviously this is in a small town as $ 65,000 generally doesn’t buy much.
When you say ‘commercial property’ what do you mean by that ?
A shop ? An office ? An industrial property ?
Assuming it is a shop, is it located within the shopping centre, small as this may be.
How many shops are there close together (as in “a shopping centre”) and how many are empty ?
If you were to lose your tenant are you confident that other prospects would be readily available ?
How does the rent compare with what other tenants pay for a similar sized shop ?
In country towns (and certainly in smaller type towns), without having seen the location, I would expect a return of around 12% + at least.
Sometimes one may even get a return of as much as 15%.(Assuming one can be confident that, because of the location, one can always reasonably expect to find another tenant) a retail shop is a good type of investment because there are less likely to be problems with tenants not paying the rent as the shop tenant has a business to protect.
Pisces133
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