Now if real estate has topped for the moment what is the right, the better area to work in (in real estate that is) ?
I am thinking along the lines of finishing up with properties at wholesale prices.
What about some people giving their opinion ?
(I’ll contribute in good time. Others can have first go)
Pisces
Hi Pisces,
“if real estate has topped for the moment”
Is this your opinion, given YOUR current rules that you invest under? Maybe you could do research on other areas of property investment that you r unfamiliar with. This could then diversify your niches of investment.
My opinion, the market that I am operating under is still alive and well, certainly aint topped, just “inventing ” new ways in my chosen niche.
I spent 2+ years investigating my chosen niche area. Since our first purchase last Nov we have been averaging a property buy every 2 weeks and it certainly hasn’t “topped”.Had “my market topped” perhaps I would go and broaden my horizons, investigate new areas that I could apply a similar strategy to, who nose, just go and have stacks o fun!!
head above water
Afloat
Very briefly Afloat, buying is easy, buying well is a lot harder.
This topic was started to get some conversation going about buying better.
Whether the market has topped or whether it has not isn’t really relevant even though I mentioned it in my earlier post.
Regards,
Pisces
Hi Pisces,
OK, now that we know what we are talking about, “buying better”.
My opinion is to always buy better than the last property. I negotiate smarter, put in low offers to work to my numbers. Its all a numbers game, correct? then if the numbers work look further into the actual property.If the market is getting tighter, re-evaluate your strategies. Instead of looking for 12-15% yield, could a 8-11% yield still present a +ve c/f deal. Am I buying 20-30% below FMV, or should I be accepting of 10-20% below FMV. How could I reduce costs in finding these propeties or does the location not come into it.
Do I look for properties that are in need of major repair b4 tenanting, this may be a new area of property investing(niche) that is unfamiliar to me yet. Here are a few to start with. I employ many of these and more with every purchase. This is why I am buying better every deal.Who’s next?
I wonder why you are considering getting out of wholesale properties Pisces,
head above water
Afloat
Afloat said : ‘I wonder why you are considering getting out of wholesale properties Pisces’
Hahaha, that’s funny.
When I said ‘I am thinking along the lines of finishing up with properties at wholesale prices.’ I didn’t mean it the way you interpreted it Afloat.
I better correct myself my saying it in a slightly different manner.
So here goes : ‘I am thinking along the lines of how one can finish up with (buying) properties at wholesale prices.’
Cheers,
Pisces
I have a concept that I have been evolving for quite some time, if you are interested read on.
My theory is very simple but not easy as you may have to do some ground work.
You have to work out the birth, death and immigrant rate as well as population statistics in regards to growth rate coinciding with modern medicine. Throw in a few economic scales and know your geography and you should be able to pick winning area’s within Australia based on………wait for it……….The gool old united States of America.
Similar landmass if you exclude Hawii and Alaska and the same junk food!
Not trying to take the piss either Pisces because I am one too![blink]
So what do you think? Horses for courses and we are pretty much mini Australican anywayz [lmao]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
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