Even if you sold it at a profit now (and the profit would be tiny after expenses), do you think it would be worth it after all the research/hassle of buying it in the first place? I’d say hang on to it for at least another 9 years, 4 months

Hi,

One of my major life goals is to take a holiday in space for one or two weeks. Needless to say this will be expensive, even if the cost does come down in the decades to come. I figure by the time I’m ready it may cost me about $5 million but that’s just a guess. So this is one of my main motivators for creating wealth.

After I’ve taken care…[Read more]

Thanks everyone, those are great replies!

And I think condos are a bit like buying ‘shares’ in a company (the block of units), then the number of shares you buy entitles you to live in one of the units.

I could be way off tho, I’m from Brisbane not New York.

Yeah, I’d go if I lived in Melbourne… for $990 (off the internet) that’s a great price.

Originally posted by Julia:
Ian,
I am a Qld accountant but on Bribie Island Rd. If you send me your e-mail address I will send you my free rental property booklet.

julia@bantacs.com.au

Hi Julia, I tried to email you at that address a few days ago but it bounced. I will try again.

No… the ‘correct’ way (really there is no right/wrong) would be to keep looking. Throwing more capital at a property will just give you a lousy CoCR anyway.

I know Sydney had a downturn in 1989-90 where across the board a drop in housing prices of around 13% occurred but this was on the back of a 40%+ rise the year before.

I think it was also the result of high interest rates.

The cost of various types of insurance compared to other suburbs can also be an indicator of the crime rate.

Are there any vacant shops in the area by the way?

-Ian

With commercial it’s very different. There also aren’t many books on the topic.

I recommend this great book to anyone that hasn’t read it yet:

“How Investing in Commercial Property Really Works” by Martin Roth

I got the 7000 immediately, and there was no mention of a minimum occupation time (only that I had to move in within a year).

quote:
DON’T

Why not?! The best property I’ve ever purchased was one that I bought unseen

…of course, I’ve only ever bought one property.

Hi Ken!

Regarding what Julian said… I think you’ll find that a great many Australian-born Australians don’t even know where most towns are. I am 25 years old, and until recently had no ‘feel’ for where towns were (apart from major cities and the biggest towns).

Anyway, a few weeks ago I went out and bought myself a giant (and very detailed)…[Read more]

Yeah, those ‘evil’ wrappers are helping people own their first home.

I’m not exactly cash-strapped, I just don’t have $20k More like 4.

Yeah it would be interesting to see where your money’s going… I have a friend who works at City Beach and he says clothes/shoes/everything gets marked up about 200-250% there.

quote:Well done on your bartering.

Hehe thanks, I think you mean bargaining… you make it sound like I swapped them a sack of potatoes for a fridge

I’ve still never been to the good guys yet, but everyone I know who has been there tells me they should have been called the worst guys. But I guess they’re making the comparison at a time when…[Read more]

Thanks redwing, I will check out an interest free deal as I would have no problem fronting up with the money in two years time.

Speaking of Harvey Norman, I spent 40 mins negotiating a $1000 fridge down to $810 at Harvey Norman in the Boxing day sales <- proud of myself, had to tell someone! (at the same time, I saw a girl pay $948 for a fridge…[Read more]

Thanks everyone for your input!

A couple of points: I’m not planning on living in this place for 30 years and so will sooner or later be a rental property.

Also, I had a valuer in a few days ago and told him about everything I wanted to do to the place, spending about $20,000 on it and he suggested that after those improvements, the place would…[Read more]

Hi! I’d be very interested in meeting investors in the Brissy area… Please email me more info!

<- my login name @hotmail.com

The thing that makes me suspicious about Uni Lodge is the same thing that makes me suspicious about “Cathedral Place” in The Valley… in any given week there are 1-3 units being sold there.

I’d bet if you go to realestate.com.au at any hour of any day there will be at least one Uni Lodge unit for sale and at least one Cathedral Place unit []