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I have just bought an ocean front townhouse with great views that needs some renovation work (turn from 2 bed to 3 bed). It is not positively geared, but I like the idea that one day we can live there and rent it out over the holiday period for extra income…we simply use this time for our holidays.
If you can afford a property like this, and the corp. body fees etc are not too high, why not. I believe it will have great capital gain in the future as there are only so many ocean view/ocean front properties.
My 10 cents worth anyway.
Ah, something to aspire towards! It’s time to work towards my next I.P. Next storm I’m out there looking for sheds that have blown away, and will start saving up for a couple of long ladders. I have a few square metres of land spare, so I feel I’m on my way.
Michael, great minds must think alike
Valiant Wagon, it is rare to hear from someone who has (I assume successfully) traded the stock mareket for 30 years. I lost money in it back in the tech crash, but since then have taught myself charting, using mainly volume, trend, support/resistance and the rsi (this helped me know to at least get out before Sept. 11th).
I see now many of the small specs starting to break out, not only those that were in a long term stage 1, but also the downtrenders. I am therefore starting to dabble again, even if it is for only the next few weeks. I am currently looking into Gann’s sqare of nine rule wondering if the laws of natural mathematics help.
Like Michael, I would love to be gently guided in the right direction. Can trading be profitable over decades? Why are you looking into the property market after all these years?? etc etc (would love any info you could throw this way).
Crashy, I used to watch you on the daytraders channel talk of a crash. Trouble was, you talked of it almost a year and a half before the tech crash happened. Think we all know when a market is potentially overheating…but getting the timing right is the tricky part.
So Valiant Wagon, I will be waiting with baited breath for any morsels of info you can throw my way.
Our Loans manager suggested this to us to ‘bump up’ our borrowing power (bumped it up more by reducing our credit card borrowing capacity). All we needed to do was to get a letter from a real estate office stating what they believe it will rent for.
The loans manager stated this is fine as at a pinch we COULD actually rent out our PPOR and live in the investment property.