- Originally posted by Risky:
Im still buying, infact i bought one this week, although im buying regional now to stay positive geared.
Regards Risky
If you want the rainbow youve got to put up with the rain!
What region Risky?
“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….”
Originally posted by MiniMogul:“Is there an edit button for these posts???”
yes! but you have to log in to see it!
cheers-
MiniThankyou was thin king i was already logged in when i posted but not to be
I had almost converted to the herd mentality that prices were on the way down. Then about 3 weeks ago we had a rush on and have shifted about 140 properties in a few weeks (investment properties, off the plan and finished lifestyle products, renovators delights, all sorts). The signs are there – little articles from agents in the weekend paper saying they have never been busier, interest rates at or near their peak. Don’t be fooled… there’s more heat left in this market!
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
Yes, but do we want heat when we buy? A RE agent told me the other day it’s a buyer’s market now, but he would say that [baaa]
kay henry
I can’t wait for BS Free Realty to open!!
I think there is room for growth in some areas still. Some price brackets as well.
There is also the option to change you investment strategy to suit different economic climates. Renos are a good option if thats your thing, wraps and flips take a bit more work/networking but can be done. And the good old buy and hold for the long term (10+ years) if the price is fair and not over valued.
J
I certainly don’t want heat – my portfolio is only about 5-10% filled…. a lot more buying ahead of me!
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
We have moved out of buying residential property and into development. Lots more headaches and stress but good fun.
I’m with Ausprop on this one, I am still in the market for deals as long as they fit my mould.
BTW, the stories about some houses attracting much lower bids than last year – reality has just hit our suburb.
A niceish 4 bed + study house on a 900sqm block was put up for auction in November last year. It was tenanted for 6 years and needs a little work (paint, carpet, landscaping, paving etc) but overall a reasonable house (9’6″ ceilings, stainless kitchen, marble b/r’s etc.). It was a bank matter and had a reserve of around $1.3m. The highest bid on the day was $1.02m but was increased to $1.05m after neg. The bank refused (silly them) and now it is on the market for sale.
I enquired about it as we are looking to move our PPoR, but was a bit shocked with the price. BUT it seems that the highest offer since the auction has been $950,000. The bank still wants $1.15m.
Milkmanjr, I think BS Free Realty has just hit us!
If I hang on long enough, all interested parties might go away and I could snatch it up for mid $8’s. I reckon with less than $100,000 we could make it look like a $1.5m house. There doesn’t seem to be a problem moving those price houses still as long as they are in v good condition and ready for someone to move right in.
‘Eat rich food, barbeque a yuppie’ [greedy]
I was under the impression that. the market was settling and had slid off the top.BUT last weekend in Dural sth of round cnr, 5 lots of acreage went off. Council has said absolutley no development for 25+ yrs, and 4 out of 5 went for 2mill+, with a top of 2.8m.
All blocks but one were vacant.
They’re record prices for the area folks, morale to storey is not all markets are the same. Know your market.Any one know how to get great returns from investment properties without buying any?
Anyone guarantee what they think the market might do?
Anyone?[buz2]
lifexperience
Originally posted by lifexperience:Any one know how to get great returns from investment properties without buying any?
Anyone?[buz2]
lifexperience
Become a real kick arse PM. I reckon with property going the way it is, investors will be relying heavily on PM’s. The best ones will get all the business. Word of mouth works well!
‘Eat rich food, barbeque a yuppie’ [greedy]
Rugby,
Good answer.Is this a career path anyone can comment on. Good, bad, overworked, under paid..?
lifexperience
NO not really although I know some good ones and bad ones.
I am really interested in Body Corpoarte Managers though.
I have looked into this career and see it as hard work that could pay off. I know what the BCM’s are like looking after our properties! I reckon that a lot of theor practises could be improved on.
‘Eat rich food, barbeque a yuppie’ [greedy]
I thought the idea was to lose the career path
Cheers,
Aceyducey
Acey,
I find your input to usually be very valuable, so don’t take offence,,, however on this matter:I see the PM s as the ones getting their hands dirty. I have a lot of respect for any time spent at the nitty gritty end of the line.
I would consider leaving my current job(which is great pay but unrelated to property ) and even taking a pay cut to get some valuable experience in the industry, even if it was just until FREEDOM arrives. It might even speed up the process.
As a tradesman, i notice that the best engineers had spent time on the shop floor.
Just wondering if the same applied to investing?
lifexperience
Hey Lifexperience,
I never take offense (well rarely ever)
That’s one way to look at it – I know a number of people who do REA courses just to learn the ins & outs when dealing with REAs
However after spending years working WITH our PMs, we’ve found that you get many of the skills without having to go work for someone to get it. And you can lean on the PM when specialist experience is needed.
Maybe most Engineers should start on the floor – but property investors don’t need to start out as Real Estate Agents or Property Managers
Cheers,
Aceyducey
how to get a great return from a rental property without buying one?
um, sublet?
or, kinda – rent someone’s 2 percent returning negatively geared nightmare which is costing them 8-10 percent after costs, and possibly also going down in value, thus giving you as a tenant the lifestyle of living in a property you could never afford to buy, and freeing up income cash to invest in +ve CF properties which will let you get into more properties even quicker! Snap up some of those bargains going for a song coming up in the next few months!
Oh but I forgot, the rule was not actually buy….well, then,
just….ummmm*stuck*
oh yeah, start a home business and use a portion of your home as an office. claim a portion of your rent back in tax as a business expense, thus increasing your ‘return’ from a property you don’t own. (but someone else does.)
hehe
I’ve gone the other way – I’ve sold three of the four properties. I’ve only kept the dual occ. property. I’ve given property a miss for awhile.
I’m now share trading. If I keep going as I’m doing at the moment I could chuck taxis and my job. Not that I am going to do that, but every morning I think about it.(It’s easy to make money on a rising share market).
The taxis are doing well( I now own four).My next step is to lease six plates, employ a mechanic and the book keeper, lease a industrial property and set up a business. My input would be to do nothing, but oversee all and fill the breech if there’s a need to.Mechanical or driving. When not doing that I would be messing around with the shares.
Not owing the bank over one million dollars is a nice feeling!!!!!!bbruham.[biggrin][biggrin][biggrin]
winners make it happen.
losers let it happen.There could be some forced sales in the next few weeks, if people have to pay stamp duty on sales in NSW.
I reckon it could be a good way to negotiate. The vendor will have to pay the tax unless they sell it quickly.
The only downside is it will probably mean land tax for the purchaser.
‘Eat rich food, barbeque a yuppie’ [greedy]
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