Pelican,

Not ALL of us have said that the people were greedy. I know it makes it easier when we all agree, but I just think they were some people buying into a market when there was no boom, wqhen RE wasn’t so popular, and when the ability to do research was not as easy as it is today.

When I bought my first IP, i had barely a clue as to what I…[Read more]

I have no fear, uncertainty or doubt. It’s quite clear really. And that article wasn’t changed. I read it over a number of times. I just find it interesting that Spruiker No. 5 feels so sad about it all.

It’s funny how people on here get into so much trouble for questioning things. And yet, the Spruiker No. 5 just tells it like it is, and…[Read more]

Noam,

Why do you want to sell? Why would you invest such a large amount of money to then sell at a 5% discount? Why do I feel you are pulling our legs? [jealous]

kay henry

kathryn,

Do you really need to sell? Can’t you keep the place as a rental? Then you can continue to use the equity in the place to keep purchasing other properties. Perhaps when the RE sale contract lapses, you might think of keeping as a buy and hold.

And kathryn, your price sounds about right. You are in the home of pozz gearers, but you have…[Read more]

Ruggy,

I’m all for responsibility. But these people were TOLD they had an independent solicitor, and they had major banks backing these scams. The banks had the correct valuation on their desks, but got people to sign for contracts 60k over the valuation!

I tend to *believe* my solicitors in my dealings with them. Why would these people think…[Read more]

The problem is, that when people bought the two-tiered marketing places, they were then in negative equity and had to sell their PPOR’s if they had one (as was shown on the program). Or some people just tried to sell off the IP as soon as they found out it was a ripoff.

Remember too, that research wasn’t as easy back then as it is now. There…[Read more]

Ahhh… so the answer is just in believing it can happen huh? And it doesn’t have anything to do with having a job or some savings?

How does this millionaire in a year thing work, folks? I’d be interested to know how each and everyone in Australia can be a millionaire in a yea. Gee, I really think if it was so possible, that we’d all be…[Read more]

oh come on folks! We know people will believe anything they’re told. Wanna be a property millionaire in a year with a working poor wage and no property? SURE! No problems! And as soon as anyone says it might not occur, the person is slagged off as a negative naysayer.

Scams and false promises DO occur. We all know that. Talking about it is good.…[Read more]

What if you have an aim of getting your IP’s paid off before 15 years, yack? And don’t fixed rates limit the amount one can pay off? (just asking this latter question- not sure of the answer)

Yack, if the RE market slows down to a large extent, the RB may reduce rates to reenergise activity.

But see me in 15 years, when you have your rates…[Read more]

Welcome back PG- you’ve been missed by the forum funsters! [hair2] Hope you’re doing well over there. By the way, we split up your IP’s in your absence. I got the caravan. [hmm]

kay henry

Well, as Spruiker no. 5 said recently:

“Short of blind luck, it’s impossible for anyone to become a millionaire in a year.”

Spruiker No. 5 also said, “Here’s my apology if you want it: If I have created the impression that people can become millionaires in a year, then I apologise for that perceived error.”

If it’s good enough for Spruiker…[Read more]

my take on it hissho, is that they don’t need to use negative gearing, because they don’t actually have the debt on the properties and need the tax breaks. God- look at their incomes. Thry pobably own the properties outright. Neg gearing means keeping oneself in debt. So every time you almost have a property paid out, you keep buying more to keep…[Read more]

Sibo,

Another thing to look at in those (circa 1965 era) unit-intensive areas of queanbeyan is the rents- sheesh, they’re low! $95 for a one-bedder? *boo* *hiss*

Having said that… actually, when I relooked at Q’beyan last night, there ARE still cheap places to be bought. Much cheaper than goulburn and surrounding areas.

Best of luck with it,…[Read more]

Oops- just had another thought about this. eflecting what I was saying above… you know when your house is a [oink]sty, or your car needs a service and a wash… when you clean up your house or car, it only just really brings it back to what it was supposed to be. hehe- don’t know if this thought is worthwhile putting, but it makes it clearer for…[Read more]

Reno’s will not automatically increase a valuation. If your reno just brings a place up to scratch, it doesn’t mean it will be valued 20k above your neighbour’s house. It doesn’t mean it will automatically increase the rent either.

Whilst holes in the walls or a roof falling off will probably *reduce* the valuation, a coat of paint and a cosmetic…[Read more]

Tank,

I like to think about successes that have already occurred. If you have some property, you’ll probably already have achieved some CG. It’s pretty motivating when one buys property, and then gets CG and can think- wow, that’s 2 years less I have to work in the future!! [lmao] Remember how past successes have felt and how ya wanna replicate…[Read more]

holden,

Why don’t you check out the new edition of property investor magazine. It has pages and pages of info about predictions of places- including victoria. Be aware though, that victoria’s map of CG is mostly yellow, meaning not much CG, and qld’s is red, meaning more than 25% CP. You might wanna look a bit further afield than vic.

Check out…[Read more]

Turismo,

As a property investor, become a student of RE history- or recent history, at least. Most people here who have had property for over 7 years will tell you that property prices were flat as a pancake 6-10 years ago, in many areas, and that RE prices did drop considerably with neg growth in some areas.

The difference between this boom and…[Read more]

Mike, you still need to be able to service the loan (and ask what you like in here. As for me, if I understand the question, I’ll answer it. If not, I let the smarter ones do it! :o))

A pensioner with a multimilion dolar mansion in sydney is not going to be able to use his or her equity to buy another place. Well, perhaps an unscrupulous lender…[Read more]

Sibo,

I did some looking on realestate.com.au, and there are a HEAP of older-style units for sale at cheaper prices (under 85k). Check out the size of them though- whist they say 1-bedroom, a further look has some of those ones at around 32sq metres. That is VERY small.

Good luck hunting )

kay henry