Well it makes you wonder –

I recall that back in Oct 2000, I borrowed $10k and put the money into a BT Time (Technology)Fund. Do you remember those days when everyone was making heaps of money out of IT stocks.

In March 2004 its worth $3300.

I am not saying property will go down by 60% but it could go down 5-20% or remain flat for a very long time – some say 4-10 yrs.

This is just an example of the herd mentality and I was part of it….

Go check out guru watch for comments on all these.

Personally I have always done my own research but I am an accountant and as I grew up my family worked in the building industry.

Read as much as you can and if something grabs your passion and attention go for it. But no more than $2k for a course. Anything more is probably BS.

In addition to the research on property.

Continue your studies through university in a field you really enjoy.

Hopefully you can generate a good income from that and that allows you to borrow more money.

The quicker you start the better – but dont rush things. Its time in the property market that pays.

Good question.

I would do the following;

1. Buy a PPOR or rent if I could not afford a PPOR.
2. Save and pay as much off ppor as possible
3. Save – knowing that there will be some good opportunities out there in 2-4 yrs when all those that bought properties in the last 2 yrs get disenchanted with no growth after buying properties expecting to get the same growth we have had the last 3-5 yrs.

My first investment property was a 2 bed unit in Mentone, bought for $90,000 in 1997. It rented for $135 now rents for $205.

Never lost any rent except for between tenants which was only a week or two.

I have replaced Kitchen, carpets and landscaped backyard and painted.

An unrenovated unit sold for $250k a few months ago so I reckon mine is worth a little extra.

Its tripled almost in that time. Its also allowed me to purchase 3 additional properties. And two of those have doubled in the 4 years I’ve had those.

I will only sell if I want to upgrade my PPOR and need the extra equity.

Now you can see why I am pro quality growth properties.

<<<<I think this is the first time that Yack, SIS and Chan$ has somethings in commons…lol….quality investment property:>>>>

Now we need to work on Leigh K, Mini Mogul and Pisces. Well there are some battles you cant win.

I went to a State Trustees auction this weekend for a property in my area. It was a 2 bed unit and I thought the price sold held its value quite well. There were a few bidders competing.

I was expecting it to sell for less.

I would pursue it with the Investors Club – they should be looking after your interests as thats the premise of the Club.

I would also take it up with Kevin Young. Tell him you may speak to the radio and make a fuss, you may even speak to Jenman about it, go to all the meetings in your State and post it on boards like this and somersoft and bring it up at the Qld conference.

He should do whatever he can to assist you. Talk to your support member and other support members.

Hopefully by doing this, it can be resolved prior to court.

Morally there is no reason why settlement should not occurr in your favour.

Good luck with it and keep us all posted on progress. Dont be scared to post it here.

Mini <edited – no name calling thank you!>

I acknowledge all your good points.

I just dont have the time for researching a particular area for ve+ investing. There will be a time when I will need to have ve+ properties as I approach semi retiring.

As my portfolio is neutrel or very close, I dont need to go to far from home. I will just wait for the market to correct.

In Victoria.

My understanding has been that I can increase the rent if I give 3 months notice. A letter is sent from the property manager. If they want to stay on a month by month, they then start to pay the increased rent. If they want to leave they give 4 weeks notice.

So eventhough I dont have a 12 month lease, I still get the increased rent after the 3 months notice.