Forum Replies Created
Hi Steve,
What I meant by that was, I believe that most of Australia has reached the peak of the property boom, as do many others.
When interest rates go up more than the .25% as they have recently, some people who bought the wrong property, or are geared too highly, i.e. using a large line of credit, will start selling -There will possibly be bargains galore!!….
Also, when certain towns have large vacancies, due to too many investors, they will sell also. An empty house doesn’t pay it’s way…
If anyone is a first time investor, I’d be hanging off a little while longer, and just wait and see what prices do.
Prices MAY drop a bit, (but of course they also MAY not). I’m no expert, this is just my personal thoughts…..
Good luck,[
]Del
Hi aj,
Each time we bought a PPOR, it was meant to be for life!!![
]We changed our mind (a couple of times)[
] and then we went for a bigger house – we built a HUGE one in fact, but found that to be cold, uninviting, and not cosy. To us it was a TAJ MAHAL in a paddock. In December 2002 we moved to a nice farmhouse on 20 acres set up for our horses, and this was definately for life,[] but we ended up only living in it for 11 months and 1 week. We will definately miss this one….[]We sold it purely to start investing in a big way. We know that the interest rates are on their way up, and we wanted to lower our LVR and get rid of our LOC. We will be in a much better financial position, and in hindsight (spellcheck), we should have stayed in the first house that we bought(a 90 yr old home on 2 acres). Ah well, life is an adventure….
Good luck all,[
]Del
[
][]How did you manage that?
I obviously couldn’t arrange that because Will & I work together running an asparagus packing shed and Will is the boss…
He would never go for that…
It would mean he would have to do it all himself.Actually, he got phoned to go back to work in the afternoon ‘cos 4 people were away, and had to leave ME to finish it all…
AND he worked all Sunday….(Not by choice)
NOT HAPPY JAN!!!!
Oh well, slowly but surely it will all get finished…ONE DAY!
Life is too short to worry about “little” things…
Oh Muppet, I think we beat your record….
We have actually bought, sold, bought sold, built sold, 5 times in the last 5 years…
Perhaps we shouldn’t unpack any boxes…
Just live out of a suitcase – would be easier…[
]Bye.
Del
“BIONIC CARROTS” [
][][]Haven’t heard that one![
]St John’s is a good one, however, some people find it daggy… I don’t know why, because they learn some great stuff, that can really save lives.
Cheers,
Del
We shifted last weekend! It was caos!!!
No matter how many times you do it, it really doesn’t get easier…
We have sold and are renting now also. It is by choice, to use all our money on IP’s and have some spare $$$ to spend when houses get a bit cheaper. No more line of credit – YAY, so we wont just be making the banks rich.
The house we have just moved to is much smaller than what we had… NO ENSUITE!![
] and NO DISHWASHER.[]Even though it’s smaller, it feels very cosy, and it will be much easier to clean![
] not to mention cheaper to run.We’re renting a property owned by Will’s parents, so we are lucky. It’s on 25 acres and we can bring our horses – thank goodness.[
]Good luck with it all,[
]
Bye,Del
Hi Melissa,
Yes, these properties still do exist, even in today’s market, however, NOW may not be the best time to buy your first investment property.[
]Personally, I would try to avoid getting too excited, and I’d sit back and get organized. I’d arrange my Accountant, Solicitor, Mortgage Broker (for pre-approval) etc, and then I’d save like mad.
I believe than “soon” there is going to be a much better time to invest in Australia. However, if you can find a really good deal NOW, don’t sit back and think too hard, ‘cos it won’t wait long.
(Make sure you do you due diligence though…..)[]Best of luck,[
]Del
hi redwing,
I agree with you about this site compared to others.
We are lucky to have so many knowledgable people here who share their time and experiences with others, for free.
Thanks guys & gals,[
]Del
That is actually good!!
We are in the middle of shifting house this weekend. Having no forum will keep me from getting on the computer…(except I’m on now)[
]??Sorry, gotta go and finish unpacking. Where do you accumulate all that stuff????????
…Just had to do a test to see if the computer still worked….[
] Thank goodness – it still does.[]Bye all,
Del
I’m with you Westan,
I’d always pay cash for a car.
Del [
]Hi Lawry,
If you use the search function, you should find heaps of stuff on NZ sites and towns.
Just be aware, as an offshore investor there are taxation issues.
Good luck,[
]Del
Hi Jay,
If you want accurate advice, I would ring your insurance company, or legal aid or a lawyer.
Your car I take it, is worth a fair bit of money, so asking a property investing forum may not be to your best advantage.
Sorry to hear about the damage. We have a farm and have suffered large losses this spring due to hail, wind & frost. It’s a pity we can’t sue mother nature.
Good luck,[
]Del
Hi Jaffa,
There is a new upgrade due any week now on this site. It will have a lot of enhanced features, I’m not sure about the photos though…
It will speed things up a lot also, which will be great.
Regards,[
]Del
Hi Bear,
Well done, I’ll be at the Melbourne seminar. Hope to meet lots of forumites there.
Regards,
Del [
]Hi Kelly,
Just make sure you research “structures” over there. Their tax laws are very different to ours, as you know. As an off shore investor, there are good and bad ways to set yourself up.
Good luck,[
]Del
Hi Pelican,
Well said, I reckon it’s time you did less lurking and more posting..[
]DinoWeb,
I believe Steve’s book is more of an introduction to a different way of investing. A chance for people to “open their mind” to a new concept of positive cashflow investing. If they choose to go down this investing path, then they should probably seek further education via seminars, or places like this forum.Nobody can expect to “know it all” simply from reading the book. It was not intended to do that.
It doesn’t suit everyone, which is fine.
I thought the book was great, but I can’t wait for the end of this housing boom to take full advantage of it, although I am very satisfied with our success so far this year, following Steve’s concepts.
Regards,
Del
Hi Fizman,
I’m sorry but I must have missed a bit lately..I don’t know what you are referring to about your situation..[
]My advice to anyone considering buying +ve cashflow ppty at the moment, (ESPECIALLY IF YOU ARE JUST GETTING YOUR HEADS ABOVE WATER AGAIN):
“There will be much better times to buy property when interest rates increase a bit. I would definately hold off a few months. I really believe that realestate is at it’s peak, and nobody really knows what is going to happen.”
Hold tight, and keep saving.
Glad to hear things are now going well,Good luck,
Del
Hi fullout,
I must say I haven’t for similar ones of ours.[
]Probably should have with two that we did small reno’s on though.
Haven’t helped much, have I?
Regards,
Del
]
]
] and then we went for a bigger house – we built a HUGE one in fact, but found that to be cold, uninviting, and not cosy. To us it was a TAJ MAHAL in a paddock. In December 2002 we moved to a nice farmhouse on 20 acres set up for our horses, and this was definately for life,[
] but we ended up only living in it for 11 months and 1 week. We will definately miss this one….[
]
It would mean he would have to do it all himself.
]
