according to propertunity:
you BUY even there are 30% of FHB in the market competing against the 70% "normal investors" although it is best to wait a little longer for the demand to fall. btw statistic are coming from an anonymous source.
you BUY because spruikers said that property price double every 7 years
you BUY because the above are relevant and everything other economic factors are irrelevant such as wage growth, economic contraction, market uncertainty, unemployment, recession, and interest rate etc. which happens to have direct impact on the house price.
you're 1 hell of a Buyer Agent, i bet your your business is booming? no?
sweeper2009 wrote:you BUY even there are 30% of FHB in the market competing against the 70% "normal investors"FHB are just people like anyone else. So are investors – just people. Yes I buy when other people are buying. Yes I buy when other people are not buying. I buy when I can afford it. I buy when clients hire my services to buy for them. Otherwise I don't buy. I go to the beach or have a coffee or a massage.
sweeper2009 wrote:although it is best to wait a little longer for the demand to fall.Well this is your idea. I did not advise you to wait for demand to fall…..and I do not believe that demand will fall – which is why I advised Kris to buy.
sweeper2009 wrote:btw statistic are coming from an anonymous source.I already named the source – you are not reading properly. Go back and read my previous post – ABS and other data collectors. You can read all this stuff for yourself if you can use google.
sweeper2009 wrote:you BUY because spruikers said that property price double every 7 yearsI DO NOT buy because spruikers say that. I buy because that is what property does. I could not care less what spruikers say – or doom and gloomers for that matter either.
sweeper2009 wrote:you BUY because the above are relevant and everything other economic factors are irrelevant such as wage growth, economic contraction, market uncertainty, unemployment, recession, and interest rate etc.Correct. I buy if we have a market contraction. I buy when others are uncertain. I buy when others become unemployed. I buy in recessions and I buy in good times. I buy when I had to pay 11% interest and I'm buying now when I'm paying 5.2% interest. The only time I don't buy is when I cannot afford to.
sweeper2009 wrote:which happens to have direct impact on the house price.I could not care less about the up and down house price over a few months or years. I know based on the past, that in 10 years time I will have more equity than I have now. I've been doing it for nearly 30 years.
sweeper2009 wrote:you're 1 hell of a Buyer Agent, i bet your your business is booming? no?I'll let others be the judge of whether I'm 1 hell of a Buyers Agent…..but before I was a BA I was (and still am) a reasonably successful investor. I enjoy being a BA as I get to do what I love for a living and help others achieve some measure of success at the same time.
with due respect, you sound exactly like a spruiker!
sweeper2009 wrote:with due respect, you sound exactly like a spruiker!and with all due respect you sound like someone who does not own any property and is hoping that the market will crash so you can buy some – but the market won't play ball.
and what's worse, you are happy to try to convince others not to buy to help you feel better about it.
propertunity wrote:sweeper2009 wrote:with due respect, you sound exactly like a spruiker!and with all due respect you sound like someone who does not own any property and is hoping that the market will crash so you can buy some – but the market won't play ball.
and what's worse, you are happy to try to convince others not to buy to help you feel better about it.
i gain nothing from what i said here and if you believe what i contributed here just to satisfy my poor wealth status than i've overestimated you. i never said market will "crash" and i never professed to be a RE expert but i am very critic and i disagree with your unrealistic bullish view and interpretation.
i want Kris to see the other side of the camp by commenting and questioning the points you made earlier.
i think Kris asked a question if it would be better to hold off buying until the FHBG is over and i believe a sensible recommendation would be to hold off because then will be less competition and have better options.
i never said Kris should not invest. i genuinely envy you lot for having investments and big debts. i don't like debt and don't have debt.
i truly believe you when you said "help others achieve some measure of success at the same time" but i am sorry this sounded too much like a typical spruiker, i am sure they want to 'help' others to get rich too.
sweeper2009 wrote:i gain nothing from what i said here and if you believe what i contributed here just to satisfy my poor wealth status than i've overestimated you.I'm sorry that you are poor and also living in one of the wealthiest nations on earth. But I'd caution intending investors or intending FHBs against listening to the views of someone who has personally never invested and whose only argument is the ones you have put forward. I would also caution people against just listening to MY views. I am biased but I make no secret of the fact that I am a BA – so I declare my bias up-front. People need to make their own assessments in the light of that.
sweeper2009 wrote:i never said market will "crash" and i never professed to be a RE expert but i am very critic and i disagree with your unrealistic bullish view and interpretation.You might not have professed to be a RE expert but you came across with some very definte views of how you think the market will perform into the future and also the reasons why. I have no problem with you holding a different view than mine. In any market you get people that sell and people that buy – obvoiusly these hold differing views of the same market. But your views hold less weight when you have no skin in the game.
sweeper2009 wrote:i want Kris to see the other side of the camp by commenting and questioning the points you made earlier.I have no issues with that either….it is what forums are about, after all.
sweeper2009 wrote:i think Kris asked a question if it would be better to hold off buying until the FHBG is over and i believe a sensible recommendation would be to hold off because then will be less competition and have better options.and I do not believe that for all the reasons stated previously. But we've both made our points.
sweeper2009 wrote:i never said Kris should not invest.OK but you are saying Kris should time her entry into the market and based on some assumptions that you hold to be true. Your assumptions may well prove incorrect and if so it would be poor advice for Kris to be taking.
sweeper2009 wrote:i genuinely envy you lot for having investments and big debts.Thank-you, I've taken big risks and they've paid off. They might have gone the other way too, eek!
sweeper2009 wrote:i don't like debt and don't have debt.This is your choice to live that way I guess – at least I hope it is by your choice. I do understand it, but it is not how I want to live. I have some dreams that are unachievable without the intelligent use of some good debt.
sweeper2009 wrote:i truly believe you when you said "help others achieve some measure of success at the same time" but i am sorry this sounded too much like a typical spruiker, i am sure they want to 'help' others to get rich too.There comes a certain point in a person's life where you realise it is not all about you. I've made some mistakes in my life – one of them being not investing earlier. I like to help people avoid some of the pitfalls of where I've been. If that comes across as spruiking – then so be it – nothing I can do about that. It is more in the mind of the listener than me. I make more money out of my investments than from working. It has taken some years to get to that point. I make nothing from posting on this forum except the warm fuzzy feeling that it may help someone, who in all likelihood I will probably never meet, along their way.
People have helped me, many without ever knowing it – if I can give something back then fine. If you can't agree with what I say – fine – its not for you – its for someone else.
I wish you well sweeper, I've enjoyed the banter.
I hope over time your views change but I can accept that you may not want to – its a free choice. Cheers.sweeper2009,
propertunity is a buyer agent.. of course his/her recommendation is TO BUY
despite booming or glooming… because of COMMISION generated…well any observer can see you're gaining by posting in here. its a cheap advertising method; spruiking just about every post , each post has your website link presuming it's the same as the name of your company and your position. a great place for spruik and fishing beginner investors.
unlike you i got nothing to sell or advertise or financially benefit from posting here, my view is truly un-bias, give input where i see fit.
GOM,
i don't debate how anybody makes their living and its none of my business but as a licensed BA i'd expect a level of diligent -not just about commission-and that was why i questioned propertunitys recommendations and his reasoning, as i found it too unrealistic, and hopefully Kris will be benefitted from this info and can decide for he/herself. hey after all this is a help blog
sweeper2009 wrote:a great place for spruik and fishing beginner investors.I actually expected better than that of you sweeper. No matter. I already said that most beginning investors or FHB do not have the money to pay our fees. The more experienced don't need our expertise. If you think posting on a property forum is advertising for a BA – well fine – it is a very poor one then from a 'return on time invested' perspective. As I said earlier most of our clients are busy professionals – they don't visit forums like this.
sweeper2009 wrote:unlike you i got nothing to sell or advertise or financially benefit from posting here,OK
sweeper2009 wrote:my view is truly un-bias, give input where i see fit.Well it is not un-biased. I find your posts very biased. At least I had the guts to come out and say where I'm coming from (I need not have done so). We don't know who you are.
Look if the property market doubles every 7 – 10 years and you accept that, and we know that Sydney and surrounds has peaked in 2003, then surely 2010 represents a time that "could" be a turnaround in property's fortunes. Maybe it will take until 2012 0r 2013 – who knows? But if you get in a bit too early then who cares as the interest rates are so low the holding costs are zero anyway.
If I was a BA in Perth I would be saying don't buy
If I was a BA in Darwin I would be saying don't buy
Maybe I'd have to choose another profession if I was there right now?
Those 2 places have some falls yet to come (based on the Sydney experience).
But of all the places with the most unmet demand in terms of housing starts – its is Sydney.
sweeper, if you don't believe in debt – fine – this is wasted on you anyway if you maintain that view. You'll always rent – investors need tenants who always rent. Thank-you for that.god_of_money wrote:sweeper2009, propertunity is a buyer agent.. of course his/her recommendation is TO BUY
despite booming or glooming… because of COMMISION generated…You can take that cynical view. But I am putting my money where my mouth is. I purchased a lot post-2000. I have not purchased for myself for 2 years BUT I am buying NOW (for myself).
Also, not one of my clients has asked me for my 'recommendation'. When clients approach me to help them buy a property, they've already decided that they are 'in'. All they are looking for is someone to act for them and get them a good property at the lowest price.
don't worry, propertnity, i don' think any1 here would take you seriously enough to hold accountable for your advice or recommendation since you aren't qualified for it anyway. beside you admitted you're bias
sweeper, (I hope that is not your job title), my fears for you are that you want to see all the way down the road with all the lights green before you do anything. It is never going to be like that. Even if there was a situation where you considered it a good time to invest you don't believe in taking on debt. All the best with the savings plan.
sweeper2009 wrote:since you aren't qualified for it anywayCorrect. I am not a qualified FP – and I don't want to be and even if I was, I don't know enough about you to offer you advice. This is a forum and nothing posted on here should be taken as advice. Its a place to share ideas. Actually with your views on debt, I don't even know what you hope to gain by being on here? Unless you see yourself as the lighthouse keeper warning all and sundry of the dangers posed by investing in these dark & troubled times.
sweeper2009 wrote:beside you admitted you're biasIt is also pretty obvious from my signature, but I declare it upfront so you (or anybody else for that matter) can read my comments and form their own view knowing where I'm coming from.
thats a pretty good spruiking mentality.
maybe you should direct your answer at the OP by giving "realistic" and explain the real pitfall by following your 'idea' and maybe we could all be benefited. don't worry about the + we already know, price double every 7 years-you're mega rich.
sweeper2009 wrote:thats a pretty good spruiking mentality.I'm going to ignore those continual snipes – they are getting boring – grow up.
sweeper2009 wrote:maybe you should direct your answer at the OP by giving "realistic" and explain the real pitfall by following your 'idea' and maybe we could all be benefited.OK so you want a balanced view of "my idea" of buying property as you can afford it. I suspect a few others before me had the same idea – so I can't claim it as mine. But at least the Q's are starting to become a bit more intelligent. The pitfalls of buying (or investing) in real estate:
1. Something happens to the property:- landslip, falls in a sink hole, gets washed away by the sea/tides, gets flooded, gets a termite infestation, catches fire and burns down, has an aircraft crash into it – destroying it, has a truck crash into it, get damaged by a tree falling on it in a storm etc
2. Something happens to the land. It gets rezoned by council, it gets resumed by main roads department, flight path appears over head, housing commission buys the house next door, bikie gang buys the house next door, they discover radio-active waste on the land, they discover some other contaminant on the land etc
3. Something happens to the finance. The mortgage gets sold to another lender who jacks up the interest rate, interest rates rise making it un-affordable to you, the house price falls and the mortgagor wants you to tip in extra cash so they feel comfortable, etc.
4. Something happens to you tenant's ability to pay rent.
5. Something happens to your ability to fund any shorfall in operating expenses over time.This is not a complete list, its all I can think on on the run. But I do know this: There is no such thing as risk-free investing. What anybody has to do is mitigate their risk to as low as possible.
If you think about each and every one of the points I've made above there is an answer that will either eliminate the risk entirely or minimise it to something acceptable. Otherwise you don't invest.
sweeper2009 wrote:don't worry about the + we already know, price double every 7 years-you're mega rich.That's just silly. Nobody (or very few) get rich by buying one house. The ones that I know of that did – lucked out. The town grew up and out to be around them and their little 5 acre farm became prime residential land suitable for sub-division. So they became 'overnight' millionaires in 10 years. Very few people engage in this type of speculation (as I'd call it) rather than investing.
propertunity wrote:That's just silly. Nobody (or very few) get rich by buying one house. The ones that I know of that did – lucked out. The town grew up and out to be around them and their little 5 acre farm became prime residential land suitable for sub-division. So they became 'overnight' millionaires in 10 years. Very few people engage in this type of speculation (as I'd call it) rather than investing.sound great!
very impressive what a wonderful idea, can you show me how to get rich?
should i click on your signature, visit your website now and inquire directly?
daniellee wrote:With that said, it is always possible to find bargains relative to any market. My wife and I recently purchased an IP at council valuation in early May 09 after 7 mths of searchingguys, excuse my newbie comments, what is meant by council valuation?
thanks in advanceericyan wrote:daniellee wrote:With that said, it is always possible to find bargains relative to any market. My wife and I recently purchased an IP at council valuation in early May 09 after 7 mths of searchingwhat is meant by council valuation?
A council land valuation (or Valuer General's) is in no way shape or form an indication of likely sale price. It is calculated very conservatively, only refers to the land component and is very often out of date by some years. D did very well to buy at that price.
propertunity wrote:ericyan wrote:daniellee wrote:With that said, it is always possible to find bargains relative to any market. My wife and I recently purchased an IP at council valuation in early May 09 after 7 mths of searchingwhat is meant by council valuation?
A council land valuation (or Valuer General's) is in no way shape or form an indication of likely sale price. It is calculated very conservatively, only refers to the land component and is very often out of date by some years. D did very well to buy at that price.
thanks for the response. the next question is, how do we find out what is the council valuation for any given property?
ericyan wrote:thanks for the response. the next question is, how do we find out what is the council valuation for any given property?Ring the council – talk to the rates section. They use the VG valuation to calculate the rates assessments. While you're on the phone – ask them the date the VG's val was done.
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