All Topics / Help Needed! / Frustrating – Steve and Nathan's success not applicable to current market?

Viewing 12 posts - 1 through 12 (of 12 total)
  • Profile photo of NanNan
    Participant
    @nano
    Join Date: 2015
    Post Count: 26

    Hi,

    I have been looking for the investment property for 2 years now and still looking. Steve and Nathan’s property achievement stories taught us to buy property at low price. But at current market, there is no way to buy property under market price and in the opposite way, we have to buy them over the market price. When Steve bought his first properties in rural area, the house prices just double in a short time, then he moved to buy units, then NZ, it seems like whatever he bought, the house price just increased massively when he sold them in a short period.

    How do we achieve this in current market?

    Profile photo of TheNewGuyTheNewGuy
    Participant
    @thenewguy
    Join Date: 2014
    Post Count: 151

    I’m not sure what others will say but there is an element of truth in what you say. Back 15 years ago you could have bought anywhere and made a profit – the amount varied though. But the current market is much tougher and everyone wants to get rich off property in a short time frame. I don’t think it’s as easy or realistic anymore, but it can be done it just takes more effort and a longer amount of time.

    Profile photo of D.T.D.T.
    Participant
    @dtraeger
    Join Date: 2014
    Post Count: 128

    Given Nathan’s is illegitimate I wouldn’t be trying to emulate.

    D.T. | DT Property Management
    http://www.dtproperty.com.au
    Email Me | Phone Me

    Adelaide Property Management - whole Adelaide metro

    Profile photo of Tracey BTracey B
    Participant
    @tracey-b
    Join Date: 2009
    Post Count: 158

    Look for the gems because they are out there. Maybe not like Steve’s did initially, doubling in a short time but it’s the ‘non-standard’ properties that sometimes deliver exceptional returns and outcomes. You just need to think outside the box.

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,416

    Hi Nan,
    I can sense frustration, so I would love to be able to help…. but I am struggling with this from you:-

    But at current market, there is no way to buy property under market price and in the opposite way, we have to buy them over the market price.

    I am trying to understand just what you might be seeing that has you saying this. Can you add a bit more about WHAT you are looking for, and WHERE? Maybe you are just looking for the wrong item in the wrong locations?

    Have you checked out Westnblue and his results? Could you do something like he did (just a few years ago, so quite recent). Here is the link to his story:-
    https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/#post-4697977

    While there, do check out some of the other “big picture” posts in that thread – they are often of benefit to newer readers/investors.

    Benny

    Profile photo of NanNan
    Participant
    @nano
    Join Date: 2015
    Post Count: 26

    Thank you Benny. The link you shared is a very good post.

    Profile photo of ellejayellejay
    Participant
    @ellejay
    Join Date: 2016
    Post Count: 4

    You’ve missed some incredible buying over the last 2 years. Have you joined any investor networks apart from this one? There is at least one forum I can think of that has a huge amount of information and network options to help you buy. You may need to adjust your expectations about price etc, but there are still many opportunities currently for making money.

    Profile photo of TaylorChangTaylorChang
    Participant
    @scha9799
    Join Date: 2009
    Post Count: 234

    Maybe tell us what you want to achieve and what’s your current situation here.
    then we can see how to help you.
    Because maybe what you see no opportunity, other may see great potential.

    we all here to help and learn :)

    TaylorChang | Finance Broker
    Email Me | Phone Me

    Home loan | Commercial loan | 0414 691 517

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Buying under market value is merely one strategy.

    Again only works in a rising market.

    There are a number of other ways to increase your wealth and keep your serviceability up.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of wadezwadez
    Participant
    @wadez
    Join Date: 2013
    Post Count: 18

    When the market is expensive (depending on how you measure it) an investor must be patient. Warren Buffett stay out of the stock market for 3 years during the tech boom in the late 1990s. Do you have the temperment to sit on your hands? As Charlie Munger says he get pay by being patient and something in the line that inpatient what get most investor in trouble. In regards to mentioning housing are over price it really depends on how you are comparing it to (eg income to house price, debt to GDP, increase debt, ect) if you compare the returns base on interest rate they may be consider cheap. Potentially cheaper if interest rate continue to fall. As George Soros mentioned 7 years ago we are in an age of currency wars it is hard for Aus to remain competitive (particularly in our export driven market) when our interest rate is high (relative to other nations). I am now just ranting. Sorry

    Profile photo of wadezwadez
    Participant
    @wadez
    Join Date: 2013
    Post Count: 18

    You might just have to be patient

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,416

    Hi Nan,
    Wadez words above struck a chord with me – the words “Be patient” are easy to say, but I wont say them to you….

    What I do want to say is that I heard Steve teaching recently that the property goes in cycles, and that cycle includes a flat price period that can make up the biggest part of the cycle (70% is common). Now, when that happens, you may be forced to be patient IF you are only investing in one area. Or, you can look for other areas that are in another part of their cycle.

    Search for the “Property Clock” to see which areas are at what “time” in their cycle. Areas that are at midday or 1pm have already peaked and are likely into their “flat or slight drop in value” timeframes. Instead, go looking at those that are around 5 to 6 o’clock, and even 7 o’clock and later. These are the areas that are looking at the beginning of (or are already in) the “boom” part of their cycle. These are the ones whose value can likely increase over the next year or two.

    Make the property cycle your friend and it might MAKE you some money (or at least SAVE some money for you).

    Good clock-watching !! ;)

    Benny

Viewing 12 posts - 1 through 12 (of 12 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.