- NanParticipant@nanoJoin Date: 2015Post Count: 26
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?TheNewGuyParticipant@thenewguyJoin Date: 2014Post 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.D.T.Participant@dtraegerJoin Date: 2014Post Count: 128Tracey BParticipant@tracey-bJoin Date: 2009Post 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.BennyModerator@bennyJoin Date: 2002Post Count: 1,416
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:-
While there, do check out some of the other “big picture” posts in that thread – they are often of benefit to newer readers/investors.
BennyNanParticipant@nanoJoin Date: 2015Post Count: 26
Thank you Benny. The link you shared is a very good post.ellejayParticipant@ellejayJoin Date: 2016Post 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.TaylorChangParticipant@scha9799Join Date: 2009Post 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 :)Richard TaylorParticipant@qlds007Join Date: 2003Post 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.
Yours in FinancewadezParticipant@wadezJoin Date: 2013Post 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. SorrywadezParticipant@wadezJoin Date: 2013Post Count: 18
You might just have to be patientBennyModerator@bennyJoin Date: 2002Post Count: 1,416
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 !! ;)