Do you get judged by your friends on where you buy?

[kamchatsky]

I have had discussion with my colleagues in regard to buying IPs recently. You generally get different looks from colleagues (and friends) depending on the location of the property you invested. For example, my colleague just bought a house at Lower North Shore of Sydney, and everyone's eyes lighted up. I bought one at end of Hills district and they think it is not bad but "could be better". Then there are people buying in the west .....

Looking at somersoft there are lot of investors buying in "value for money + CF+" suburbs (eg 2770 areas, Logan council areas, Elizabeth, Frankston etc), instead of "prestige" suburbs. Do you get judged on where you buy your property? Or do you even tell people where you invest your property?

Also do you buy IP due to some emotional/"prestige" factor? Of course we cannot talk about PPOR due to different requirement for lifestyle for each person.

 

[Rixter]

Anyone who judges you on prestige factor clearly is a total property investment unconscious incompetent. They are stating something more about them selves.

You cant control what others think and dont do - only what you think & do. Dont let it get to you.

 

[Harro]

It is YOUR investment. As long as it meets your financial requirements, why should it bother anybody else.

 

[DavidMc]

I bought a property in a fancy area. If I'm honest with myself, the whole 'trophy hunting' thing did influence my decision (however it was more the 'prime inner = best growth' theory I believed in and that it was something I lived in for a while).

Worst... investment.... ever! Yield, CG, vacancies, neighbours and maintenance all terrible. I overpaid for the property at auction as well. That experience taught me well.

Give me a bogan outer suburb anyday! Easy to buy, rent, sell and good cashflow.

When I do recommend bogan suburbs to friends asking about investing I do get a hesitant response, so it is a thing, however I totally agree with Rixter on this one.

 

[devank]

For example, my colleague just bought a house at Lower North Shore of Sydney,

If I can afford I would buy there too... not because it is prestige.

Having said that if the 'prestige' badge can help to increase the CG then why not?

 

[grand dad]

Give me a bogan outer suburb anyday!

Totally agree.

I am heavily invested in Frankston - one of very few beachside suburbs in Australia where you can buy a perfectly decent brick house on a dual occ site for around $300,000.

When its this cheap, its impossible to go wrong in the long run.

 

[Ideo]

PPR yes. IP no.

 

[impala67]

Yes.

Buy in value for money suburb. Critical.

Buy in top tier suburbs. Critical.

Haters are gonna hate !

 

[EN710]

No, I don't get judged for IP location, too trivial for them. I just say I bought a cheapy house in the middle of nowhere 2 hours from Newcastle

My young colleagues react more on the fact I just bought a PPOR than that I have an IP bought last year.

 

[macca446]

Hi ,
Yes I got told buying in 2770 was a dumb idea and when I bought my PPOR at Umina Beach again comments like Mt Druitt by the sea,It did not bother me as when I purchased it was right for me and have seen substantial gains and this comes from relatives that have always rented lol and do not own a thing.

 

[perthguy]

Do you get judged by your friends on where you buy?

No.

..........

 

[S.T]

I just make sure I don't have many friends

 

[Cherry Pro]

No.

..........

+ 1, ditto for me

 

[VYBerlinaV8]

Do you get judged on where you buy your property?

No.

Also do you buy IP due to some emotional/"prestige" factor?

Hell no.

 

[datto]

I get judged on more things than just my investment areas.

"Slum Lord" sometimes gets yelled out as I walk down the aisles at work

I usually turn around and point my finger in the caller's general direction. I then reply, "Ridicule me now, but one day you may be my tenant and you will regret making that statement."

 

[VYBerlinaV8]

I
"Slum Lord" sometimes gets yelled out as I walk down the aisles at work

Ha - some of my friends call me the same thing!

 

[alexlee]

You tell people what you buy? Why?

 

[travelbug]

The first thing people say to me when I say I have properties out west is

"Don't the tenants trash it?"

The other day someone asked me where my properties were. I said mostly out west, one in Potts Point (WOW!! their eyes lit up). They didn't even l;isten after that. They thought I was so amazing. LOL I tried telling them it was tiny but it didn't matter.

Buy what you know to be a good investment.

I've learned to only listen to those who have what I want.

 

[VYBerlinaV8]

You tell people what you buy? Why?

Some of my friends have asked, then started investing themselves. The slumlord thing is always said with a grin.

 

[nhg]

Yes I have.

The ones who get it are now doing it themselves.

The ones who don't have an equally confused look on their face when they hear I'm going on a holiday for the umpteenth time that year.