A very interesting article in November’s API Magazine on Darwin investing (pg 132). Confirms many of Westan’s statement on the market up there.
I was up there recently and couldn’t help noticing the level of building activity going on at present.richmondParticipant@richmondJoin Date: 2003Post Count: 831
While I consider API a good read, I’d like to see them do some more stories on the other side of the coin. ie, investing decisions that haven’t gone too well, and what lessons have been learnt.
There’s always the profiles on investors who have made heaps of dough, and while they sometimes include the bad decisions, they gloss over them a bit… I suppose it’s in the magazines own self interest to keep pumping property investing up as the thing to do, or else their circulation falls, advertisers drop off, then hey presto, no more magazine…
Anyway, that’s that,
(footnote – I am committed to property investing being the base for wealth building, so this wasn’t meant as a gratuitous slagging off of property)
aren’t you a little tired of all the negativity in the press re: the property market? Can’t be doing much for the values of people’s IP’s.
I enjoy reading about the success stories of others, and try to gain inspiration from them.richmondParticipant@richmondJoin Date: 2003Post Count: 831
I don’t really think there is all that much negativity around. Yes, there’s stories about possible interest rate rises, and there’s also stories about declining values, but they are just pieces on what economists think, and regurgitation of statistics. Don’t get me wrong, I am of the belief there are plenty of good buys around, and while I don’t want to read “disaster” stories, I’d like to hear some of the cons as well as the pros, especially in publications like API, just to give things a bit of balance. I’m aware of the pitfalls of property investing, but there are still a lot of newbies who come here and think they can make their fortunes in 5 minutes, however we both know that’s not the case… it’s a “game” (I hate that term) of patience and “get rich slowly” not “get rich quick”.
rRodCMember@rodcJoin Date: 2002Post Count: 335
I must agree with richmond, I don’t see all that much negativity in the press at all. Maybe everyone is distracted by the oil price.
Rod.shaunwalkerMember@shaunwalkerJoin Date: 2003Post Count: 403
i saw that too yorker, thank goodness my place is on the fringe of the cbd (bought there on purpose).
the thing i didnt like, was how the person from the REINT was talking up tennant creek. recent news paper articles from darwin newspapers (about a month ago) were saying that people there couldnt give their houses away and had to just abandon them, and that alot of bums had moved into these houses and trashed them.
lost alot of respect for the article after that. so although i still beleive theres at least 18 months left of good capital growth (BIS expects 28%), i wont pay too much attention to what a real estate agents says about his state.
Lead, Follow or get out of the bloody waywealth4life.comMember@wealth4life.comJoin Date: 2003Post Count: 1,248
Welcome to the property investing game, isnt it interesting, one minute its a boom next theres doom, then the interest rates, then we get the stock market gurus, then Dolf de Roos goes commersial and dumps residential, one area goes bad while another some where else goes mad, oh heck I need a pill –
You need two bits of ingredient in life, good luck and good timing. The more informed you are the better the decission you can make – times are great even Harry from Meriton is turning up the heat because he thinks the market is improving, and he is the best in Australia at it !!! so he should know.
You can only make profits if you are investing, come on you young blokes get into debt and see whats its really like.[biggrin]shaunwalkerMember@shaunwalkerJoin Date: 2003Post Count: 403
totally agree with you residential.
i just signed up with peter spann, any action is better than none.
Lead, Follow or get out of the bloody wayFWMember@fwJoin Date: 2002Post Count: 478
Personally I would be happier if API would be a little more creative with their subject matter, although not necessarily negative.
I’m getting a little bit tired of reading the “same” profiles over and over, it sometimes seems only the names and locations of the properties change.
But I’m aware that editorial policy isn’t particularly adventurous.