Am I alone

Since interest rates went up and the property boom came and went I haven't been buying any IP's. The last IP I bought was in June 2004!

Am I the only silly one who isn't buying at present? Maybe this is a new form of buyers remorse.

Brenda

I've bought more since the rates have gone up and demand has lessened. Not as much competition has meant better buying terms and prices.

Cheers

Oscar

My last IP was in April 2003.
We did buy the PPOR in Dec 2005

Cheers,

The Y-man

I havent bought since last year Brenda. But Im looking to buy again right now. Like oc1 says times right for doing so in a buyer market.

Rixter said:

Like oc1 says times right for doing so in a buyer market.

Click to expand...

Call me Oscar mate

Cheers

No, Brenda, your not alone. Bought 4 last year, but nothing since. I have a couple up for sale ATM & when they get sold I'd like to buy some more. Only reason I haven't bought anything lately is that I can't until I unload a couple & restructure. Good buying opportunities now, though, in my neck of the woods.

Hi Brenda,

When the next boom has come and gone I suspect you will look back on this period as one that you should have continued to buy in.

For myself I try to adopt a strategy I and others use in the share market - called dollar cost averaging. I just buy one IP each year whether the market is up or the market is down.

My recent purchases I bought last October 2005 and I bought in June 2006. That last one I just could not pass up even though I was not 'in the market'.

It was a 3 brm house upstairs and a 1 brm flat (self contained) but not council approved downstairs for $200K. I spent $20K on a reno - just a paint job & tile paint + some necessary repairs. Probably valued about $250K now with rents of $220 p week for the house & $150 p week for the flat downstairs (admittedly with electricity & water included). Even allowing $50 p week for these utilities the return of $320 per week was just too good to pass up. I think it costs me $20 per week out of my pocket after tax etc.

I financed it with a deposit on an AMEX card balance transfer fixed @ 7.99% for the life of the repaying the balance transfer back & 80% loc doc loan for the rest. I'm just refinancing it now to pull out some of the created equity - which I will put in the share market unless...............some other bargain calls me.........no must put it in the share market and write some covered calls like I do successfully in my SMSF.

I find this market just so full of buying opportunities and those pesky real estate agents which I have cultivated over the past few years are doing their job by ringing me when they found what I've told them is what I normally buy.

Hi Brenda,

When the next boom has come and gone I suspect you will look back on this period as one that you should have continued to buy in.

For myself I try to adopt a strategy I and others use in the share market - called dollar cost averaging. I just buy one IP each year whether the market is up or the market is down.

My recent purchases I bought last October 2005 and I bought in June 2006. That last one I just could not pass up even though I was not 'in the market'.

It was a 3 brm house upstairs and a 1 brm flat (self contained) but not council approved downstairs for $200K. I spent $20K on a reno - just a paint job & tile paint + some necessary repairs. Probably valued about $250K now with rents of $220 p week for the house & $150 p week for the flat downstairs (admittedly with electricity & water included). Even allowing $50 p week for these utilities the return of $320 per week was just too good to pass up. I think it costs me $20 per week out of my pocket after tax etc.

I financed it with a deposit on an AMEX card balance transfer fixed @ 7.99% for the life of the repaying the balance transfer back & 80% loc doc loan for the rest. I'm just refinancing it now to pull out some of the created equity - which I will put in the share market unless...............some other bargain calls me.........no must put it in the share market and write some covered calls like I do successfully in my SMSF.

I find this market just so full of buying opportunities and those pesky real estate agents which I have cultivated over the past few years are doing their job by ringing me when they found what I've told them is what I normally buy.

I bought my 3rd in feb this year. At this rate, I'm buying one every 2 to 3 years.

Same as you Brenda - I stopped buying in 2003.

Moved my attention to more lucrative investments instead.

I take a looksee at the property market regularly, and are monitoring the Somersoft barometer (still too many posters), however haven't seen any opportunities that provide a significant enough return in the short-term for me to redirect funds right now (I can wait longer).

When the long-term trend is right I'll do more property.

Cheers,

Aceyducey

I am almost bought one this week but someone beat me too it. It was an absolue steal! I am actively looking now in QLD....

Aceyducey said:

Same as you Brenda - I stopped buying in 2003.

Moved my attention to more lucrative investments instead.

I take a looksee at the property market regularly, and are monitoring the Somersoft barometer (still too many posters), however haven't seen any opportunities that provide a significant enough return in the short-term for me to redirect funds right now (I can wait longer).

When the long-term trend is right I'll do more property.

Cheers,

Aceyducey

Click to expand...

Thank goodness there is somebody who hasn't bought property since 2004. I was starting worry that I was alone.

Brenda,

the last property I bought was in Beenleigh in June 2005. In the areas I am looking at I am seeing no price movement but rent increases, I am waiting for some more fundamentals to be in place before I buy next, but am planning on buying next year.

I like the idea of buying one property per year, that is a great strategy mentioned by Aimjoy.

Also as I am negatively geared I need to get this under control a bit more, which is happening through increased rents and wage rises.

It seems to me there are 'bargains' but you have to be positioned to take advantage of them,and there may be a couple or few more years of little capital gain yet anyway so I am not rushed.

Regards,

Tim

last bought in april this year - and wish i had more liquid funds to buy more. it's a real buyers market here at the moment. we do have two for sale at the moment, one which is gaining a lot of interest being in the lower price bracket but the one in the higher bracket is only going on the market this week but not being actively marketed (internet only) due to tenancy not expiring until july next year. we do have one of our wrap properties settling in a couple of weeks which will see a much needed cash boost in time for ...

we did just reach an agreement to buy a block for our next ppor in merewether - near the beach and cbd so will by putting the current ppor on the market next week, after a kitchen appliance update.

Brenda Irwin said:

Am I the only silly one who isn't buying at present? Maybe this is a new form of buyers remorse.

Click to expand...

You're not alone - my last was April '04.

However travel and research has continued unabated and I am starting to see value in some suburban areas, though rental yields are still low.

So I might buy again within a year

Peter

Brenda Irwin said:

Since interest rates went up and the property boom came and went I haven't been buying any IP's. The last IP I bought was in June 2004!

Am I the only silly one who isn't buying at present? Maybe this is a new form of buyers remorse.

Click to expand...

You're not alone, Brenda! I bought our last one in August 2005, and only because it was in between two others that we owned and created a huge block.

But I've been selling like crazy! Still heaps left though! And I'm not finished by any means.

cheers

2004 for me too.
Its such a rush of excitment when you find and buy, l quess we have to expect withdrawls.Not much fun though.
cheers yadreamin

Bought in June 06. Place is a lifestyle and reno opportunity. Valued well and supported by interests. Landscape is coming round after treatment, so saved the beautiful cypresses from being cut down. Will look to enter again next year.

Hello

Here I am trying to find something in Brissy and am lost. Can someone pls help me with suburbs in Brisbane which show good prospects for capital growth. Initially I thought I would buy a place for mid 400s but after listening to a few other posters, I have also thought about looking at buying a house in Brissy for 350-370k within 7-10k of the CBD. Once again I appreciate that I have to do a lot of research and reading but I would be very gratefull if someone can help me with suburbs, as I am in melbourne. I am a new investor and I feel very intimidated taking this step, pls help.


regards

Ritzy

Since some areas in Melbourne and Sydney gone down in price, what yield can you expect in the median price suburbs? Here in Perth the yield is pretty low (<= 3% ) and I wonder if it's much better in the East?