I agree with previous posts, but only to a certain extent.
It really depends on what reason your may be "attacked" for.
See HIH & One.tel cases. ie it did'nt work for them.
Also check what your biz insurance covers, read all that fine print.
L Bernham makes some interesting and valid points.
Just because you don't always agree with them (neither do I) don't mean he is to be flamed.
Unlike most he also has the courage and conviction to post them, with his reasoning behind them.
Yes there is a chance that prices may decrease...
Sounds like your making a big drama and grossly exagerating.
I pay land tax, most of it being for vacant land and it's really bugger all in the scheme of things.
Imagine when the interest rates keep going up....
I tend to agree with Jacque.
I've learned long ago not to talk IP's when I'm around others who do not invest in real estate or much else. I try to avoid the topic. If some seems really interested in IP's I might meet later on a one on one basis and proceed very cautiously.
When I'm with...
It seems to me they really have no opinion and are happy to repeat whatever they hear on the news, tv or even worse the sunday papers.
They love repeating what they read in those advertorials you find in the thick weekend papers about how apartments are the best type of real estate investment...
Go np2003! I'm cheering for ya mate! :D
Do your calcs, then go for it. Life is about making your dreams come true.
Make sure you run the figures past a trusted accountant.
Make sure you speak to people who alredy live in the area as well. You seem to be in the higher end of the market...
For the area the return is reasonable. Returns are usually lower then that. Do your research on the area as their are many changes happening.
You also need to look at your tax situation as well as discuss it with your trusty accountant.
I sold (2001)in a higher cashflow area to buy in a more...