Has Somersoft changed or have I?
- Thread starter Sunfish
- Start date
More property has gone down than up.
Maybe there's no point leading the blind, unless you lead them to bankruptcy and buy their assets from the administrator.
So buy up big peeps, real estate never goes down, you can't lose.
Hmmm..... heard of distressed sellers in a quiet market but.....
The Y-man
DOH distressed sellers. Sleep deprived posters.
Peter
But from when, I bought in 2007 and all have gone up.
When I worked in Development I was told but a experienced boss, you make your profit when you buy it. Buy at a really good price and you do well. That rule still applies.
Peter
Well I was one of the bears who use to post here a lot up until early 2009. The Bears were expecting the fallout from the US to affect the market here, and many of us had different theories about what would happen when it did. Some thought there would be 90% falls, some of us thought prices might flatten for an extended period, so there was no point rushing in, some were in between those two extremes.
I expect those who were hoping for big price crashes have been disappointed. The more sensible bears have probably been getting on with things.
I saw prices falling in Brisbane and found a property that met my needs, then started renovating, along with having a couple kids. Two things happened, I went from being time rich to time poor, and my interest in property prices diminished, my interest in getting tradies to site took over. So even though my available time has recently improved to a point I could keep posting bearishly about property prices, my interest factor is pretty small.
I might start thinking about it again when the financial markets get over their current problems, it is unknown how long that will take.
I expect those who were hoping for big price crashes have been disappointed. The more sensible bears have probably been getting on with things.
I saw prices falling in Brisbane and found a property that met my needs, then started renovating, along with having a couple kids. Two things happened, I went from being time rich to time poor, and my interest in property prices diminished, my interest in getting tradies to site took over. So even though my available time has recently improved to a point I could keep posting bearishly about property prices, my interest factor is pretty small.
I might start thinking about it again when the financial markets get over their current problems, it is unknown how long that will take.
Does anyway know what happened to Alex Lee? I used to always enjoy his comments.
You are asking have I bought in these years or have I seen them values go up?
If the first, yes one villa in 2010. Paid $230k and recent sale was $225k which was not as good a position between two where we were in the sun only shared with one. So overall no increase in 12 months.
Values.
Depends where.
VIC I would say been flat since 2009 but rose 2007 to 2009 about 30%.Rents say 25%.
SYD 2007 to 2013 doing 5% each year. Rent much higher say 10%
Am I happy? well what is my strategy.
STRATEGY
I strongly believe having a clear strategy. Peter Spann and others have said this is essential.
My strategy was sell IP to pay off PPOR. DONE
Move to Country and buy dual occ site. DONE
Build Retirement Portfolio. ON ITS WAY.
Development Dual OCC. STALLED NO TIME
Setbacks, some evicted tenants in VIC
Property is long term game. Each area is different. As long as rents stay stable and rise and are paid I am OK with the above. Construction Costs keep going up.
At the moment as stated Gold Coast is undervalued in my opinion. You cannot build it for what they are selling and rents are high. At the bottom IMO.
Does this answer you.
Peter
christ - it's the internet, not a government agency open to public audit.
this site is very well google-indexed, it's full of likeminded property folk who are here to learn, engage and promote property.
so what if a mod has a link in their sig?
I would argue otherwise. I would prefer to know what they do for living or what their interests are alinged with so I can judge their view!
Agree. In fact the last thing you want in Mod of Property Site is someone with no interest or experience in property?
Peter 14.7
Alex and I would fight like cats and dogs. Was a Mod. Last I saw he still was.
They were the days when I was always in trouble with Sim. We're over that now aren't we Sim?
Sim! Don't throw that keyboard.
Shuggy,
Can I ask, why are you here?
You seem to simply want to put a contrary view to anyone, show no respect, take words out of context, take cheap shots, insert your own views and never reply to clear requests?
Is it only to "verbally have a go" at people?
Why did you need to take 2 cheap shots a Lizzie?
I am have been longer (in another name so believe me) and then chided her grammar. Well mate , you are Shuggy, you are 502 posts. Past lives don't count. Lizzie is 9,036 posts, they count, she wins.
And I can care if they are not grammar / spelling perfect along as they are relevant.
As someone who claims to be "associated" with 800,00 members elsewhere, I would have thought you would consider that English may be her second language and she may have worked very hard to post her but you just took a cheap shot on how pleased you are she is back.
Reply to this, go me, bring it.
Peter 14.7
Why not? Is Sim's primary interest RE or IT? I honestly don't know.
But I see where things have gone. SS has gone back to it's roots as a sombre bunch of landlords swapping yarns. I sold out of my property some time ago and never did know much about the nitty gritty anyhow. Only hung around for the chat I guess.
Baring my soul to bankers and constantly doing finance applications is the pits for me. Bought a new car recently and could have financed it @ 5% but couldn't bring myself to do the application, so wrote a cheque. My interest has always been the broad canvas and where property should fit into a portfolio of assets. The thought of "retiring" with 20 IPs is totally alien to me. Sounds more like a prison sentence. I always drive with my eyes on the horizon and I try to invest the same way.
A few of us used to have spirited discussions about this, but no more. Everyone is singing from the same hymn sheet.
What happens when you don't look in the rear vision mirrors and keep going foward,only to find out a total slow down in the miners and rear ended by a dump truck..
It only needs a quick glance to check the mirrors. But I think I know where you're coming from: I am more leery of the miners than I was. This MRRT is the wake-up call, with cash strapped governments world wide joining in the Great Rip Off. But I was calling the bull run ten years ago. Not too bad for an amateur.
I am seriously looking at the Perth Mint certificate program now. What is a retired gentleman to do?
Maybe your right but SS is a property website so it attracts property interested people. I have been on a diet site, some renovation, builders site, subaru and Hot Copper. Most don't hold my interest.
Each to their own. I have had some shares and don't like the lack of control and constant monitoring. Some would say property is the same. With two recent renovations due to evictions I am a bit weathered.
Overall, I think a wide portfolio is best. My super is shares usually, (presently in cash) so that my balance. Whilst keen on IP it is not always good times, it is long term.
regards
Peter 14.7
Don't know with all the talk within the Labor Government to deal in all the billion dollar babies big :Clive'ect ,,miners and slow it all down you would want to keep a close eye on the miner as it;s only less then 100 days till the carbon tax comes in then it;s open to anyones guess..
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