I would like to get some input from the more experienced investors, and how they view the property prices in Sydney.
Do you think there will likely be any more growth? Will it stagnate and level out, even with the expected cut RBA cuts or will prices continue to increase?
Hi,
I have been investing in r/e for 30 years and my 3 lessons was :
1) When is a good time to buy r/e = NOW!
2) Where should I buy = LOCATION, LOCATION, LOCATION (prime water front, harbour front with million $ views, Beach front)
3) Should I sell = NEVER.I have done this with all my properties and retired at 40 on a $400K income.
I NEVER looked into the fundamentals that a lot of people talk about when buying. However I learned there are sharks out there like the one who recommended buying in Moranbah QLD a few years back. Bloody idiots!
Sorry I’m so blunt, but its that simple and has worked for 30 years and I learned this from my Uncle who had been an investor for 40 years himself.
I had it almost done, but IMHO the rate cut(s) have given it a bit more room to grow. It still scares me the thought of overpaying there now though, especially when there are so much more attractive buy in options that haven’t come off their low base by much yet.
BuyersAgent | Precium
http://www.precium.com.au
Email Me | Phone MeSouth Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
Buy in gloom.
I don’t think anyone would suggest that Sydney is at or near the bottom of it’s current cycle, so you have to question yourself as to whether it may be more fruitful in targeting other markets in Australia which may be still early in their current growth cycle and showing strong fundamentals.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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