Is Dallas that bad?

[Aulyna]

Hello all,

Bought an IP in Dallas VIC few month ago, which yeild >5%. Thought it's an good IP, but just found info from domain:

If it only increases value 6.8%, which is lower than the interest interest rate I'm paying, what's the point to keep it?

The house itself looks nice. Is Dallas that bad?

Any thoughts, please.

 

[The Y-man]

The house itself looks nice. Is Dallas that bad?

Any thoughts, please.

Have you been there?

Cheers,

The Y-man

 

[Sunfish]

Read about The Gambler's Fallacy. Seriously, yesterday really is history.

You must be forward looking with investments but having no idea that there was a Dallas outside Texas, I can't help in predicting what will happen. Importantly though: Nor can anyone else!.

 

[BV]

The long term trend is misleading because it only shows the past 10 years or so.

If you take into account that prices went up for a couple of years and have been stagnant for the remaining 8 then 7% it's not a bad return.

Cheers

 

[Aulyna]

Yes, I only been there one or twice while looking for an IP.

I know some areas are not good, but my IP is on Terang St, the street looks pretty good. The suburb is in between 2 railways, not far from CBD, thought the price would ncrease in the future, but from the info, it sounds like the worst suburb in north area, is it?

 

[The Y-man]

...but from the info, it sounds like the worst suburb in north area, is it?

You sound like you are suffering from a bout of "buyer's remorse".

You've bought it - let's wait and see how it goes.

Cheers,

The Y-man

 

[skater]

You sound like you are suffering from a bout of "buyer's remorse".

You've bought it - let's wait and see how it goes.

That's what I was thinking too. The property must have some redeeming features to make you want it in the first place, surely?

 

[BV]

Yes, I only been there one or twice while looking for an IP.

I know some areas are not good, but my IP is on Terang St, the street looks pretty good. The suburb is in between 2 railways, not far from CBD, thought the price would ncrease in the future, but from the info, it sounds like the worst suburb in north area, is it?

No it's ok.
Don't worry we all have 2nd thoughts when we buy IP's
It's rented isn't ?
Cheers

 

[Aulyna]

According to some mentor, only buy IP in the area always perform well above average.

Selecting Dalllas is an wrong decision, right?

 

[Aulyna]

No it's ok.
Don't worry we all have 2nd thoughts when we buy IP's
It's rented isn't ?
Cheers

Yes, the vender rented it back for 6 month. Hope he stay longer

 

[The Y-man]

According to some mentor, only buy IP in the area always perform well above average.

Selecting Dalllas is an wrong decision, right?

Ok, so a few things:
1. you know something to do for due diligence on the next property
2. the graph for this suburbs looks like higher volatility - so chances are that there will be ripsnorter years and bad years. Might be a buy-sell proposition than a buy hold?
3. Is your data reliable?


Cheers,

The Y-man

 

[oasis1frog]

too many cowboys !!!!

 

[Dazz]

Yippee !!!

Any town that produces a gal as good as Debbie must be just AOK.....

 

[Aulyna]

too many cowboys !!!!

What do you mean, you mean it's risky to buy IP in Dalas, VIC?

 

[skater]

What do you mean, you mean it's risky to buy IP in Dalas, VIC?

I think you will find he was referring to Dallas, Texas.

 

[Aulyna]

Ok, so a few things:
2. the graph for this suburbs looks like higher volatility - so chances are that there will be ripsnorter years and bad years. Might be a buy-sell proposition than a buy hold?

It costs too much for a buy-sell, especially if didn't buy under market value.

Ok, so a few things:
3. Is your data reliable?

The data is from domain.com.au. Not sure about the reliability.

You do think it's not a good idea to hold it, do you?

Thanks, Aulyna

 

[Melbear]

You've only factored in growth versus your interest rate. What about the rental return?

 

[ozi]

Dallas has one of the best kebab shops in Melbourne! I wouldn't base your investing decisions on that alone though. hehe

 

[The Y-man]

You do think it's not a good idea to hold it, do you?

Didn't say that! I'm just saying keep an open mind. If it doubles in one year, maybe it might make sense to take some profit?

Look it wouldn't have been the first suburb on my "look at" list - but then I don't live in the area, I don't frequent it, I honestly have no idea what it's like (from an IP perspective).

Cheers,

The Y-man

 

[skater]

Bought an IP in Dallas VIC few month ago, which yeild >5%.

If it only increases value 6.8%, which is lower than the interest interest rate I'm paying, what's the point to keep it?

The house itself looks nice. Is Dallas that bad?

Any thoughts, please.

According to some mentor, only buy IP in the area always perform well above average.

Selecting Dalllas is an wrong decision, right?

You do think it's not a good idea to hold it, do you?

Thanks, Aulyna

You appear to have buyers remorse. I'm sure you checked the area out before you bought. Why not just hold the thing for a while & see what happens. You will only lose money if you repeatedly buy & sell without any specific plan. You are unlikely to find someone to stand up & say "Sell at all costs, it's a terrible place", same as you are unlikely to find someone say "Dallas is the best place in the country". It is all realative. Dallas may well be the best place in the country for you, because you know the area etc, but could also be the worst place in the country for someone else. It's all relative, so just relax & trust your own judgement. Time will tell if it is a good buy or not.