1million in Equity!

[NOI53Y]

Oracle I like the way you think. What you have said is pretty much a similar plan to what I plan on doing. Whether it is the right plan or not i'm not sure but there is only one way to find out

Well actually there is probably other ways to find out but I understand Property and Shares so i'm going to stick with what I know unless I learn otherwise.

Cheers,

Glenn.

 

[kissfan]

take music for example you wanna be a great singer, but you only like to sing the style of songs you like only and dont listen to singers or music of other genres, is that the best way ?

Depends how good you are

Regards
Marty

 

[jaycee]

Sure Marty you canconciously choose resi property and be succesful at it

Whether that makes it the best, I'm not so sure though, know what I mean ?

I mean me personally, I fell into this idea cuase it apealled to what I already knew and I felt safe because of it, but I must admit I jumped in pretty blind just hping to make up for lost time not doing anything - certainly not THE best way to approach things, but hey.... hopefully in th right dirction ? but the best ? possbily

 

[kissfan]

Sure Marty you canconciously choose resi property and be succesful at it

Whether that makes it the best, I'm not so sure though, know what I mean ?

I mean me personally, I fell into this idea cuase it apealled to what I already knew and I felt safe because of it, but I must admit I jumped in pretty blind just hping to make up for lost time not doing anything - certainly not THE best way to approach things, but hey.... hopefully in th right dirction ? but the best ? possbily

Hi jaycee...hehe....my post was actually just referring to music, but I see your point. I feel that you have to be comfortable in whichever way you go and obviously the more knowledge you have (and understand), the better, which is why I personally prefer property over shares (as a ratio). Suppose, it's a confidence thing.

Regards
Marty

 

[jaycee]

KISS did pretty well out of focussing on one style of music

What sunfish was suggesting (I hope !) and made thnk hmm, hard to argue with that .... was a mature view to take would be to understand money / investment options and choose accordingly and apprpriatley for ourelves and based on wht's going on I dont feel I actually hve the knowledge to do that ! Sounds like a good thing to be able to do though...

 

[kissfan]

KISS did pretty well out of focussing on one style of music

Yeah...I suppose you could say they did (and still do) pretty well .

Regards
Marty

 

[Truly Exotic]

Rastus, it wasn't just greed that led to this situation, it was also 'fear of missing out' as the market careered towards the top of the bubble.

I have friends who bought in Tokyo 18 years ago who now have negative 100% equity in their home, and still 32 years to go on their mortgage. They are not unique. There are large chunks of an entire generation that should be entrenched in the 'asset accumulation' phase of their lives that are facing the prospect of negative equity until the day they die.

This has exacerbated the capital losses on property as the well of potential buyers has massively shrunk over a period where more and more sales became forced. Even from those savvy enough to recognise the opportunities, there are plenty who can't do anything about it since they have accumulated too much debt. And for those that don't truly understand risk, the capital losses on display from the last 15 years are scaring the herd from purchasing.

I know someone who spent $16-18million on a tower of apartments just before the bubble burst in 89-90, I think there are between 30-80 apartments

A similar tower (probably slightly newer) nearby recently sold for $900k,

that would not be fun

 

[wylie]

30 apartments in a tower sold for a total price of $900K is $30K per apartment.

80 apartments in a tower sold for a total price of $900,000 is $11,250 per apartment.

Surely those figures cannot be correct?

 

[Ausprop]

what's the yield?

 

[MTR]

Whats really weird is ..... this topic was originally posted in 2006 and I guess $1M in equity would be considered pretty amazing at the time.

How things have changed... .

MTR

 

[redwing]

Whats really weird is ..... this topic was originally posted in 2006 and I guess $1M in equity would be considered pretty amazing at the time.

How things have changed... .

MTR

Unless you still have aspirations for $1M in equity

 

[weg]

Whats really weird is ..... this topic was originally posted in 2006 and I guess $1M in equity would be considered pretty amazing at the time.

How things have changed... .

MTR

They sure have, especially as I can now afford to buy whole 30 to 80 apartment tower blocks (I'll assume they're not in Iraq ).

Who would have thought.