Bruce,

Thanks so much for your incisive contribution to the board, I’m sure many people found it extremely constructive and worthwhile.

As the offspring of a solid line of country folk, I am glad that you have opened my eyes with your generalisation of me and my clan, and many more like us, as the lowest of the low. I will try from now on to live up to your stereotype, by quitting my job and taking a few hits of smack. I’ll even call off my impending nuptials, but not until I get my fiance pregnant, so she too can fit neatly into your predetermined category.

I’ll post again soon with a progress report.

Regards,
Richmond.

Hang on, we’re being told that Iraq having WMD’s has now been revealed as a pack of lies… and all of a sudden we’re supposed to believe Nth Korea has nuclear capabilities? I’ve heard interviews with international relations experts who have basically said Nth Korea doesn’t have the capability to launch nukes… and their longest range (nuke-free) missiles might reach Japan at a stretch. Of course, little Johnny will tell us otherwise when the time suits, and that we can expect missiles lobbing into Sydney Harbour any day now… perhaps they might hit some of those children who were allegedly thrown overboard… as long as it props up whatever his agenda happens to be at the time… hmmm, perhaps I’m just a little cynical about the whole thing… I work in the media and see how things get presented… it’s frightening how easy it is to influence the public’s perception with words and pictures… anyway, this type of stuff from me belongs on another forum… nighty night.
r

Um, it ain’t a suburb… it’s a mining city in far western NSW. Cheap houses, but the mining industry there has struggled big time in recent years. If you do a google search on “broken hill” you’ll find a lot of info.

Cheers
r

Hi…

In terms of viewing IPs as a market, I recently went on a shopping trip and bought a few… I think I did okay, because they were houses weren’t too expensive, for either me to buy or the tenant to rent, they were in good nick, and won’t require too much maintenance. To me the investment decision is quite low risk, and they will be cashflow positive… with locked in interest rates for 4 or so years they are not going to be too much of a financial burden just at the minute…

What worries me is the people who take the big, thoughtless risk… like buying some of those overpriced apartments at Docklands in Melbourne, many of which are sitting empty, because a lot of people thought it was going to be a great idea… it’s basic oversupply of the market and was always going to be the case! There’s only so much demand to cater at certain prices isn’t there?

I have always lived within my means, and even though I now have a slowly growing property portfolio, I will always think things through before spending a buck. (There’s a difference between being careful with money, and being a tight a*se! At least, that’s what I reckon!)

Unfortunately, a lot of my friends who have earned, and are still earning very good money, have very little to show for their efforts, and are going to struggle to get into the game, even if a correction in the market takes place. In Melbourne’s case, I think prices will level off… not fall drastically…

r

Hi Justin…

I was looking at houses on the web in Geraldton… what was it about it that made it an eye-opener? I must admit I was surprised when speaking to some of the real estate agents there who told me that property owners are only leasing the land of the local government… it’s a little bit more complicated than that I know, but I’d love to hear what you got out of the trip.

R

True, there are good and bad police officers, just as there are good and bad in any walk of life, but never make sweeping statements that “all” are this or that…

My sister is a police officer, and is one of the most compassionate and understanding people I know. Some of her colleagues are power-crazed idiots, while others are at the opposite end of the spectrum.

Also, as a journalist learning the ropes I was often reporting on police matters. Some of the things I have seen at the accident scenes that I had to go to defy description. When you see emergency services personnel picking up body parts of children because some fool wanted to get somewhere a bit quicker, it puts it into perspective. One night I had to go to a scene, arrived just after the police, and found a person I knew with a fencepost through his throat, well and truly dead. Sorry to be graphic, but these are the consequences of foolish behaviour on the roads.

Don’t speed or break any other laws and you have nothing to worry about. If you do break them and get caught, don’t squeal, take it on the chin and learn a lesson.

By the way, what DOES this have to do with property investing?

R

My only advice as a new kid on the block is to hit the internet, research real estate sites and statistical sites that will give an idea on economic development etc and get on the phone to local real estate agents… after you’ve done all that you can make your own judgement on whether it’s worth investing in or not, or perhaps taking a trip there for a look. It takes hours and hours to do, but you’ll have gained a lot of knowledge.