Every day we here stories of record lending for investment properties all over the country.
NSW now lends nearly 50% to investor’s for property.Qld lends 38% again to property investors.If ever there’s a time NOT to buy property, it must be now.I see first home buyers
sinking themselves up to their eye balls in debt.
If you know Sydney and some of these first home
buyers suburbs, Kellyville,Quakers Hill etc try driving around them. Some house lawns are looking a little unkept.Some houses are not keeping up to the rest of the street.This is where I will be looking for some good deals, as the strain becomes too much on paying the mortgage etc.
People buying in Tasmania, the joint is going backwards!! Wait for the first cold winds of credit restrictions to hit the place, and Tassie renters will jump ship. heading for the main land where there’s a better chance of employment.
The same goes for these country towns, most of your tenants are unmarried mothers.Grovelling so you won’t increase the the rent.(They might offer
to cut the increase out).Some of the posts I’ve read tonight are on this theme.Country towns are only where dead beats rent.Unmarried mothers, drugies, unemployed who just won’t work.If they really wanted a job they would be in the cities.
Want a headache? invest in reginal towns.
Me! I’ll stick to the city, THE ONLY CITY,Sydney.
Bruce G.[
I’m speechless!
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You must be joking!?!?!
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Hey Bruce,
What were u smoking when u wrote this ???????Bruce,
Thanks so much for your incisive contribution to the board, I’m sure many people found it extremely constructive and worthwhile.
As the offspring of a solid line of country folk, I am glad that you have opened my eyes with your generalisation of me and my clan, and many more like us, as the lowest of the low. I will try from now on to live up to your stereotype, by quitting my job and taking a few hits of smack. I’ll even call off my impending nuptials, but not until I get my fiance pregnant, so she too can fit neatly into your predetermined category.
I’ll post again soon with a progress report.
Regards,
Richmond.Unmarried mothers deadbeats! Mate thats harsh, my own mother sends a two finger salute (very smart lady with 3 brilliant children who came to the country with 10 dollars!). Geez.
Bruce
I’ve also heard that many brilliant leaders are in fact brought up in regional areas. They have the advantage of being able to think outside the square a bit more than others. ie they haven’t been brought up with the stereotypical thinking that people from big cities have!!
What ever it was that you were smoking when you wrote that post, can’t have been good stuff.
Ish
Correction[
ie they haven’t been brought up with the stereotypical thinking that people from big cities can have!!
Not meant to be a slight on city people!!!
Ish[
having slept on my response to bruce, I’d like to add that my mum, in a regional area, was left single by the death of my dad, who passed away aged 26… she brought up 3 kids… one is now an airline pilot, one is a television journalist, one is a police officer. gee mum, couldn’t you have done better? (Sorry to sound self-righteous, but I’m proud of my mum, and don’t like what bruce had to say)
R
Bruce,
Positive cash flow strategies are not for everyone. There is merit in both strategies (i.e. investing within 15kms of CBD and investing in high yielding country areas). You have made some gross generalisations that are perhaps a reflection of your lack of knowledge in this area.
I would think its every investors aim to secure strong tenants. Weaker tenants can be found in all areas (even in Sydney).
Good luck with your investing.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.auWell, both our sides of the family are from, and in, the sticks. Thanks for socio-economic profile of me and mine.
Y o u W a n k e r
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