Forum Replies Created
when we started this investment journey we acquired -ve geared properties (it was at the top of the melbourne property cycle). We learned pretty quickly that was not the way to go because our aim was to free us from the jobs but by acquiring -ve geared properties it tied us more to the jobs. Don’t let this b.s. about income producing properties don’t have capital growth. Look at Logan, Croydon, Elizabeth (all ‘undesireable’ areas according to some people) the median price all triple in the past 10 years, the growth match any ‘bluechip’ suburbs !
when we started this investment journey we acquired -ve geared properties (it was at the top of the melbourne property cycle). We learned pretty quickly that was not the way to go because our aim was to free us from the jobs but by acquiring -ve geared properties it tied us more to the jobs. Don’t let this b.s. about income producing properties don’t have capital growth. Look at Logan, Croydon, Elizabeth (all ‘undesireable’ areas according to some people) the median price all triple in the past 10 years, the growth match any ‘bluechip’ suburbs !
when we started this investment journey we acquired -ve geared properties (it was at the top of the melbourne property cycle). We learned pretty quickly that was not the way to go because our aim was to free us from the jobs but by acquiring -ve geared properties it tied us more to the jobs. Don’t let this b.s. about income producing properties don’t have capital growth. Look at Logan, Croydon, Elizabeth (all ‘undesireable’ areas according to some people) the median price all triple in the past 10 years, the growth match any ‘bluechip’ suburbs !
Chief Wigam, I am still keeping it because the statistics from various sources indicate Maidstone had good growth in the past and will perform better than the melb average. But all these talking up of the melb west, I think I will stick to the east or south east from now on.
Steve’s strategy is to use cash bond to buy -ve geared properties. I am not sure if everyone is comfortable with that as it depends a lot on continuous captial growth. For the money the course is okay to give you another angle in property investing, but I feel he’s more a share man rather than property.
Then how come the much admired finance “guru/strategist” Bill Zheng trumpeted such loan as the best thing since sliced bread ???
Hi RP2606,
I sent you a PM.
thanks,
ttmanthanks Marc, I probably will keep it a little bit longer but sometimes not sure if it’s actually worth it.
Thanks folks for the great suggestions So far I have not refused any repairs and sometimes even paid for extra such as when the tenant required an additional power point in her study.
Be careful the AFP is going to knock on your door as this is a copyright infringement.
To deal with REA you need to know to play their game. I guess the problem with most people is the REA sell houses everyday whereas most people only sell their houses once or twice in their lifetime. We are at as big disadvantage.
thanks Marc I will take your kind advice on board. But I think because I am an absentee owner they think they can get away with it. Now I will montior the repairs closely. But am seriously thinking of selling too.
Milly,
‘Beats me why anyone would live in a wet miserable climate when they can have blue skies and sunshine 95% of the time’.Wondering which city you refer to – sunshine 95% of the time I mean ?
sell lots of property books, cd and tapes or run property seminars like Steve, 200 people at $500 a pop, 10g a weekend and claim not doing it for the money !
I think storage as an investment is a waste of time, just my 2cents worth.
no self advertising, Dr X !
Few years ago I used Werner Engel from Engel Homes (tel : 98177933), he was not cheap but could inspect a property quickly. Because I haven’t bought in Melbourne in the past few years, I don’t know how much he charges now. May be I shouldn’t put the boffin bit in the previous reply, but I was cheesed off at the big difference in fee.
I find arichicentre charges much more than other building inspectors, for example, a block of units archicentre asks $1900, I got it done for $480. You do the sum. Also I reckon they are boofins and not as hands on as your local builders, i.e. mechanical engineer vs motor mechanics, one learn from the books and the other learn by doing.
thanks guys
Folks much appreciate the responses. The reason for the thread is I would like to quit the job and do something else with my life. But the net return from the properties is not enough and sometimes may be less due to vacancy & expensive repairs. I am thinking to shift some of the equity to shares & managed fund so I can have a steady income, but just wondering if there are traps that I should watch out for. Once again thank you all very much for the kind replies.
