Most of you know I’ve been away from the forum for a while (not by choice – mind you) and I’ve just been popping in, whenever I could. This place is still fantastic as ever! [biggrin]
Well, as everything in my life was pretty much put on hold, I’d not paid much attention to the property market (well I did from the side of my eyes..after all some obsessions die hard [cap]),
As it happens last night in a property scan of 15 minutes, I found 6 properties that immediately favoured the 11 second solution!!! I was impressed. Especially because these were in townships that fit my specifications and were well known townships.
What’s happened around here? Has all the early X-Mas parties made everyone sleepy??? [shocked]
Ahhh…that’s me ribbing you all…
Truth is they’re still out there if you want them. Of course markets change and due diligence is always of utmost importance. As I’ve been out of the game for a while, I’m also renewing my bases.
When a problem is created the solution is created simultaneouslyredwingParticipant@redwingJoin Date: 2003Post Count: 2,733
have you had many PM’s?
as no post’s here, are people to wary to make a move?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorNobleoneMember@nobleoneJoin Date: 2004Post Count: 146
Care to share the state/territory regions?
Cheers, Nobleone [thumbsup2]richmondParticipant@richmondJoin Date: 2003Post Count: 831
In certain towns in regional Australia, residential properties meeting the 11 sec solution are very very easy to find… whether they are a good investment is another matter.
rNobleoneMember@nobleoneJoin Date: 2004Post Count: 146
I agree with Richmond… I can find 11-seconders all over… But I would not want to invest in those towns for obvious reasons…
Sooshie… Still not sharing?
Yes, I agree with both of you Nobleone and Richmond, and NO pm’s as yet Redwing!… However these townships have large populations, hospitals, water, large shopping centres, job opportunities… They are NOT just your 500 pop regional townships. These are established townships. As you know, I’ve been on the outskirts of the game for some time, so it’s REALLY interesting, to see
1) what’s happening out there
2) Mentality of investors and
3) Which direction things are heading in.
Just today looking through my local newspaper I found potential deals in good areas. One was a house (3 bed etc) with extra land at rear going for a price that I thought was a misprint. This property is located 10 minutes away from me, closer to bayside!!! Now I haven’t asked any questions to the agent, I haven’t went past the property, nor done any diligence, but at least it was good to see that I hadn’t forgotten to many things I’d learnt. Seeing potential is the first step. My mind was blown away by the possibilities.
In fact, as I mentioned in the opening post, I saw a number of properties being advertised. I passed the deals by a seasoned investor who also agreed it was a great deal. It’s pretty weird to see what’s happening with confidence in the market. Yet again, it means that there are people cashing in on the hesitancy of others.
Victoria is where I look first as this is the State I’m based in, and if I had to get the kids into the car and drive, well let’s just say it’s easier to do it somewhere your familiar with and at least have the tools for (ie. RACV membership/roadside assist , MELWAYS etc).
As always I’m happy to share. However, as I am getting back on my own two feet, it’s up to everyone who wants to be serious about their money to do their own due diligence.
When a problem is created the solution is created simultaneouslyFFCommMember@ffcommJoin Date: 2004Post Count: 627
I think alot of investors are becomming don’t wanter landlords. They’ve got all excited and bought “CF+” (probably more like CF- after expenses) without having a real idea on what there doing… Now they see only $15p/w hardly as anything (and most are too lazy to create any extra value) so they are selling… to buy things like 4WDs. And to give their money to people who charge them $$$ for ‘managing’ it.
Interesting point you make. Another thing I noticed, during the housing boom the number of home loans being put through was amazing, then all of a sudden if you wanted a 30 day settlement you had all types of hassles with your bank/lender etc, paperwork etc. Laziness started to kick in. I guess it makes sense. Sharks feed in a frenzy then they settle to the bottom of the waters to rest once full and content. So after the gluttony of the housing boom, I guess mortgage brokers/bankers are not so ‘out there’ to get your business and as usual they are back to being difficult and rigid to deal with. Of course this is not the case with all brokers etc. Many are still dedicated to getting the right product for their client. Actually, some are members of this forum. 
When a problem is created the solution is created simultaneouslyStill in SchoolMember@still-in-schoolJoin Date: 2003Post Count: 1,844
yesterday, when going for a drive, but also wanting to get out and have a break from home and the computer screen.
took the car out for a drive and stopped at every single real estate agent along the way (though was not going to buy, but sticky beak, in the interested areas), and would you believe my luck, with the last 2 real estate agents, i was fortunate to find 2 cashflow, property investments (after 10% deposits) in a metropolitan very high growth area…
anyway long story short, manage to sign a contract and the seller agreed to the asking price and terms of my contract. (but also, by the time this property settles, it will be a cash cow, due to its high potential of captial gain… very low vacancy rate + its immediate cashflow, it delivers.
the 2nd property, will not know till monday, but if things go right, will also be signing up on it. but these are high growth properties in metropolitan areas. that deliever a high level of capital gain + cashflow… that can be still found…
wasnt this similar to the time that Robert Kiyosaki, was buying up in Phoneix ( US ), when interest rates were high, property prices were at slump levels… and rent returns, were being pumped up…
*** no not really….
but what is scaring people from the property market, when there are plenty of potential gains to be made and cashed in…?
sismuppetMember@muppetJoin Date: 2003Post Count: 900
You saidbut what is scaring people from the property market, when there are plenty of potential gains to be made and cashed in…?
Perhaps the property market has soaked up all those who wanted to invest in it and therefore there are no people left to buy investment properties.
Perhaps most property investors have all the IPs that want to deal with.