Forum Replies Created
Interest rates are to go up or that is the prediction, so assuming that they do this would mean that property prices will fall as people that are over committed will be forced to sell.
If these rates continue to increase towards the end of the year then the average mun and dad must be packing death, oh well why not put it on the credit card …
D
To Ozi,
Valuation was 1.4mill sale price not at Auction was 1.835mill – no mortgage.
Regards D
Peter you are rich in my eyes – good on you for getting in there and doing it – YOU WILL do well i am sure, all the best to you …
D
OK i’ll be different,
SELL now for as much as you can, give the property a face lift to get the max dollars back.
OK you have a tax loss which can be off set against a capitol gain.
Go find a decent investment for a bargin price, do a cosmetic renovation and sell for a profit.
Claim you previous loss against the profit and move on to the next deal.
Kerry Packer was the king of this, not all deals are winners so he took the loss and moved on, it’s just property and bad luck, its a game of life .
The secret of the rich is what they do when they do it, now you have some experience – welcome to our world, we have lost plenty of thimes its just that we win more is the reason why we are in front,
Good luck ….. D
Yes i’m with Craig i feel i’m on a roller coaster ride with Gross not very motivational for me and very confusing in his explainations.
Gross are the deals real ones or just hypo’s
D
Every site is different and the baulkham hills council is not the most pleasent to deal with.
1…Why 700m/2 why not 350m/2 which is common in that area now.
2…Why not town houses, get the DA and flick it to a builder or investor.
3…Why not a block of 3 storey walk ups.
Go see an architect …
D
No scokar lots of people here don’t own any properties at all even some of the oldies only have a few if that.
I think there is a lot of people who want to keep their assets quiet for what ever reason, even if they don’t have any.
I bought my first property when i was 19 and didn’t know what i was doing. If it wasn’t for my older brother who was a builder i wouldn’t have got the loan ($28,000.00) first big mistake is i sold that one when i was 23 and mades lots of profit.
Today we control a tidy number thank you, so my answer to you is its never easy to get started but some time you will need to take the plunge if you want a better life than working and paying half your money to the government.
Rich or Poor the choice is yours, you and you alone control your destiny not your parents or friends or even your boss has any control over you, the decissions YOU make today in life will determine where you will end up. Don’t compare your self with others or how much they have and how much they own, not many start at the top of the ladder.
So how old are you and what are your dreams??
D
How about using the services of mortgagerefunds or cashbackhomeloans and you get part of the upfront fee back ?
Any body giving finance advice on home loans and mortgage reductions programs will need to be licienced either now or in the future.
At least this will keep the rat bags out of the finance industry as i understand there are lots of brokers who still charge what you can get for free from banks and reputable brokers
IMHO
D
And all of that it’s interesting that while on my last visit to QLD last week there is a drastic shortage of regrisrered land which is pushing prices up and they are talking a mini boom again in the sunny state up north … any body in a buying mood?
D
Hi all i’m back from rainy QLD, thaks for the interesting replies.
As well as looking at the results of our retired parents who are living in fear of losing their pension card benefits etc it’s interesting to see just how few actually make it.
I mean ask yourself just how many people you know who are well off compared to the people you know who arn’t.
D
No Foundation you are not a loser, you are honest and at least know where you are which is far advanced than most people.
I attended a seminar a little while ago where the presenter said that all we have to do is own our own home and one investment property outright to be in the 5% wealthiest people.
I thought <edited> how scary is that are Australians that broke and if that is all i have to do then its a target i believe that is easy to achieve, we are more furtunate than that.
The truth is you dont need or have to own lots of properties to be successful and its not a race. We are all different and very few people actually have the mental capacity to own a large portfolio.
D
After these biggies the next cycles run something like
1/ Conservatism 1890s /1950s
2/ Social relevance / 1960 or the suffurgette movement
3/onservative snap back 1970s /1910-1920
4/ Monumental Piss up 1980s / 1920s
Then the cycles repeat.
Each cycle is a reaction to the one before.
Posted by gmh454
Dear gmh how do you caculate a monumental piss up (4) ha ha … very funny.
I still feel the big problems are coming after 2010 onwards when the baby boomers start retireing = 25% of Australias population.
D
Hi gmh454, My accountant tells me to cash up realise my profits then reinvest, his theory is a profit is a profit – works for him he has plenty.
Now cycles within cycles that has nothing to do with washing machines, please tell me more about this i am very interested!!
Will we have another depression or a subsidised recession??
The Perth market is booming – higher prices than QLD – it’s amazing to me how people follow the flock – i hope they don’t regret it.
Hey great work Winston you are in the game and have a good wife to support you along the way, good luck old chap.
The reason why builders are building NEW properties while other stuff near by hasn’t sold is IMHO people want to buy brand new instead of doing a deal on a one round the corner that hasn’t sold – go figure.
D
Thanks for the link Simon i will have a read, as to your boyish good looks it must be all the women in your life that keep you looking young – or an old photograph, oh sorry bout that one, very naughty of me.
Take care Simon i enjoy your input,
D
Shame we cannot run a poll here to show that more than 5% of this forums membership invest in real estate. But I imagine the numbers would be significantly higher.
Posted by
Simon MacksSimon i believe it would be very easy for you to run a poll and would be extreemly interesting for the rest of us.
Of the 42,000 members how many are active or even visit the site
The 5% theory (2,100 members) which is not mine but a global belief would be interesting to run.
I read the posts closely and to me the greatest number of questions is generated from people starting out or JUST wanting to know how to get started (tire kickers) eg; living at home or young people wanting to get off first base.
Of the 2,100 (5%) members i really cannot count more than 50 people, if that, that i can determine own more than one investment let alone multipul properties.
I would say that the Master Class would be in the 5% but how many of them are achieving real success.
Now don’t get me wrong because we control a lot of property and my post is purley driven by interest.
D
Hi Cuey no don’t give up the deals are there you just don’t see them with your eyes!!
D
I just visited a friend of mine who works for a large mortgage company, he said the biggest part of their business that is growing is the loan forclosure section … is this a concern to future property investors??
D
Tizzy you need to talk to Simon (moderator) about what womens needs are towards information and investing stratagies or read his responses in another post, your experiences are not alone from other womens experiences.
a lot of women i know will only deal with women professionals, brokers, agents, planners etc … men should take note to this IMHO
D
Thanks Dazz,
Firstly WA is too far away to analayise numbers over the net then fly over to get disapointed.
Most +ve cash flow properties we found were in the sticks and quite frankly from our past experiences of selling properties in country towns it can take years if the market is not right and we like to cash in sooner.
We are currently controlling over 35 properties and are doing well with small office suites in prime locations – however we furnish the suites and rent them fully fitted out getting over 12% return for our trouble and the tennant pays the out goings not like residential.
We are about to exchange on a 51m/2 office now with water views on the top floor, rip out the carpet install vitrified tiles and marble reception desk and other nice stuff. We have a friend who wants to sign a 5+5 lease for $xxxx which will give us a 14% return.
As for QLD Dazz well 1. its closer 2. its on the East Coast 3. thers more happening up there than the West IMHO … cheers
D
Please go and attend some liquidated auction houses – great bargins to be had for all …
D
