Forum Replies Created
South – just a little over half way between the city and Frankston
Well, I am talking Melbourne. We have not yet really embraced the beach concept yet. I live presently in a beachside surburb about 25 kms from the city (50-60 mins drive in peak hr). My home is only 10 mins from the beach pushing a pram (about 400m) and the houses go for $360-$380k. We are even closer to the railway station. But I want to live a few surburbs closer to the city where the good schools are. (Mentone).
Anyway in comparison to Sydney, these Melbourne beachside surburbs are undervalued. I cannot work out why. I have 2 kids under 5 and we went to the beach the other night after dinner and had the whole area to ourselves.
I better shut up before it gets discovered. And just in case you gunna say its the weather – it rains less here than Sydney and our winters maybe a little colder but I have had some great walks along the beach during the colder months.
Anyway – I believe that these surburbs will catch up in price with other surburbs around the world that hug the beach.
Sounds good to me. Any other ideas? Anyone doing anything like these ideas? Surely you must reach a point one day when you think you deserve to live in a nice house.
I want to keep my eggs and eat them too.
Hi
That sounds good. But thats assuming you can afford to buy an old house on a good piece of land in the area you actually want to live in.
Old houses still go for around $500k in the area I want to live in. So its not possible for me to do that. Having a family and kids, its a bit hard to live in an old house. They still want some comforts.
IF – thats a small word. but can have long lasting consequences. Things may go the other way and you may incur a capital loss. Those people who trashed the houses up the road now need somewhere to rent. A house up the road may appeal to them.
Whats wrong with looking at houses in your area? Or ones that are 15 mins drive away if the ones in your area are too expensive.
Have you read any Jan Somers Books? Current numbers like the 11 sec rule dont allow for future hassles, finding tentants, attending to repairs and replacements.
Ok. Noone has more than 10 yrs experience to date. Anyone got over 7 years. Anyone had to struggle in a down market? We have all been riding an increased market over the last 7-8 years. I bought my first investment property 8 years ago and I have not experienced a down market yet. So I would love to hear some experiences from those that have been investors for a long time.
Its just that I keep hearing about buying positive geared property in rural areas. I want to hear from a property investor who has 20 yrs experience, to see if they were happy to have invested in these areas over this long period of time and found the returns exceeded the hassles and that if he has his time again he would still buy in rural areas and not in city areas eventhough there is some short term pain (negative gearing).
I am not satisfied all these people rushing to rural areas is good property investing over the long term. Does the hassle (tenants, low capital growth) over the long term exceed the cost.
And YES – I have read all Jan Somers books. Hers was the first I read.
Thats where I am coming from. Thats my view – all I am saying is be cautious. Thats my final word.
<<<<<Steve’s first house as I recall was the best house in the street in the worst neighborhood. Seemed to turn out alright for him.>>>>>>
Yeah that was 4-5 years ago. I doubt an investor with 10-20 years property investing experience would consider that a good investment.
Dont buy it. The 11 sec rule is not everything. How about the 24 hr rule. Can you sleep at night. Will that property end up like the ones down the street. Can you always find a tenant? how far from your home is this property? any chances of capital growth? Is positive cash flow of $1000 really worth all the effort.
There is more to property investing than the 11 sec rule. I doubt Donald Trump uses the 11 sec rule.
RIP Hookesy.
I grew up as a kid at the time he was playing his cricket. I used to enjoy his batting.
I was also an avid fan of his on 3aw. I used to hear him on the radio at 7:25am a few years ago. I would always listen to him and Gerard Healy at 6pm on the way home from work. I love that radio show. The tribute I heard from gerard Healy and others brought a tear to my eye as i was driving home. I drive past the Beaconsfield Pub every day to work, that place will never be the same to me.
I feel I have lost someone, I grew up with. A bit like Shirley Straun.
I know someone who built a granny flat. Its rented our separately. To get council permission its not supposed to have a kitchen. The council treats it as a detached extension. I am not sure of the actual terminology.
So after its passed by council, a kitchen is added and then its rented. The only problem is that the gas and electricity meters are the same, so you have to work out whose name the bills are in and how to split, but i think you can get separate meters.
sounds like a $65k headache to me
Hi
A few quick questions –
1. Once you transfer to Citibank do you pay the balance off?
2. Are you always creating a new credit card account with Citibank or are you using the same credit card account ie. just transferring the points.I dont see how Citibank gets any benefit from you.
Hi
They meet the first Tuesday of every month and announce their decision at approx 9am the following day (Weds).
I reckon in Feb rates will stay the same. The $A is too high. Too much pressure now on our exporters and local manufacturers. But they may still be a little worried about our consumer spending and trying to deflate the property market a little more.
Ok. So its a bit each way.
Hi
My rules with insurance to reduce premiums are as follows;
1. Pay in lump sum
2. Get the highest excess. The higher excess means lower premium.I only have insurance for worst case scenarios. I dont go lodging small claims so I am more than happy to have a large excess.
I think they do? If you pay your bills using the credit card account it does. Thats what I do. All expenses go via my credit card account. But I have never checked my monthly credit card balance versus my monthly points balance. Now you got me a little worried.
Hi
Just bear in mind the positive cash flow (rural) comes at the expense of asset growth (metro properties). In the long term its asset growth that allows you to retire and increase wealth.
I too am with CBA Wealth Package. At one point I was with NAB (chartered accountants package) but when we lost the $1 for 1km Qantas frequent flyer, I returned to CBA. My points have been handy in organising holidays.
Qld007
Why do you use the investors club and not local real estate agents? Does the investor club get a better return for you?
Cheers
Andrew
