Voted yes, I buy whenever I can provided the initial numbers stack up to my criterea.
POLL simple...will you buy an IP in 2009?
- Thread starter Peter 14.7
- Start date
I voted yes.
However, with the next interest rate reduction, my portfolio goes into positive cash flow and the whole idea (and financial implication) of not having to fund any shortfall is quite liberating.
BTW is it bad to keep hoping for bad economic news to keep IR falling
?
I am not inclined to purchase a small unit/flat for my next purchase and would prefer house with development potential, which in most cases means a negatively geared investment.
So maybe its not quite as definitive as I first thought
However, with the next interest rate reduction, my portfolio goes into positive cash flow and the whole idea (and financial implication) of not having to fund any shortfall is quite liberating.
BTW is it bad to keep hoping for bad economic news to keep IR falling
?I am not inclined to purchase a small unit/flat for my next purchase and would prefer house with development potential, which in most cases means a negatively geared investment.
So maybe its not quite as definitive as I first thought
I voted yes.
However, with the next interest rate reduction, my portfolio goes into positive cash flow and the whole idea (and financial implication) of not having to fund any shortfall is quite liberating.
BTW is it bad to keep hoping for bad economic news to keep IR falling
I am not inclined to purchase a small unit/flat for my next purchase and would prefer house with development potential, which in most cases means a negatively geared investment.
So maybe its not quite as definitive as I first thought
No its not bad, everyone has their own agenda, if it works in your favour then embrace it and dont feel bad. without sounding arrogant, there will always be pros and cons of any market place.
I said yes but if anything happens it will be a build utilising an approved loan, however instead of a duplex it will be a house to hopefully move into but it will depend on whether the bank allows us to change the purpose of the loan. The dramas of last year which we have not yet come out of have done nothing to dampen enthusiasm.
Just bought one yesterday near Redcliffe, QLD!
Saw it on Wednesday....made a phone offer and flew in Thur arvo, saw it and signed the contract!
Waiting for the Building and Pest inspection on Monday!
Stuff in Brissie is still moving well...particularly stuff under 300k within 40klm of Brisabane CBD.
Cheers
Sash
Saw it on Wednesday....made a phone offer and flew in Thur arvo, saw it and signed the contract!
Waiting for the Building and Pest inspection on Monday!
Stuff in Brissie is still moving well...particularly stuff under 300k within 40klm of Brisabane CBD.
Cheers
Sash
I haven't voted, but we probably won't buy this year, as we have used up all our available equity in purchasing 2 businesses in the last year.
We made the decision to go for cashflow now over cap growth later.
I'm hoping that I can plow enough income from the businesses back into the mix to build up enough equity to buy some more property later this year or early next year.
Something with land content for a subdiv or redevelopment down the track.
We made the decision to go for cashflow now over cap growth later.
I'm hoping that I can plow enough income from the businesses back into the mix to build up enough equity to buy some more property later this year or early next year.
Something with land content for a subdiv or redevelopment down the track.
just put offers on on three - although we only want one! i went low, but hopefully not to low to insult the vendors. hubby wanted to go really really low but i considered that an extra $10k would only cost us $10/wk and bring the offer back up into the realistic range ... see how it goes.
Hey Mooze.
May i suggest you get loans approved before going to self employment. Banks dont like those self emplyed especially newly minted. They dont count you inocme as secure and ususally want 2 years books or make you go Low Doc Loan
Peter
To those who could not vote I have re-opended Poll.
Vote Away!
Peter 14.7
Vote Away!
Peter 14.7
weren't planning on...but...
One of the factories next to ours has come up for sale. Actually it's either for sale or for lease.
The old guy who owns it is past 70 and his kids in their 40's couldn't give a hoot about it. I guess for some, accumulating property has a deadline where inheritance and all of the hard work done by previous generations isn't appreciated and isn't welcomed.
Anyway, it's only half as big land wise as what we purchased, but the old guy is asking triple what we paid for ours. Thereby, the land rate has increased 6 fold in the past 4 years.
We are tempted to buy it, with a view to sitting on it for a few years and then redeveloping the amalgamated site. Ours currently is unsuitable for this purpose, as it's too long and skinny, with not enough big vehicle access. The site next door would double our street width and also allow a secondary access from a sidestreet, which is worth gold to any re-development.
The wife doesn't want to get into any more debt, but I see the opportunity and will probably kick myself if we don't snaffle it up now. The trust that owns the factory is producing excellent rental returns....so much so that we have to pay big mobs of tax on it, so I'm keen to take on more debt through the same structure and acquire it, thereby knocking the trust back into negative territory again.
My mentor always reckoned any property next door to your own was worth at least 10% more to you than anyone else in the market, and it's a great way of adding extra value, especially if it enhances development opportunities down the track.
Anyway, we are crunching some numbers to see if this thing flies or not.
One of the factories next to ours has come up for sale. Actually it's either for sale or for lease.
The old guy who owns it is past 70 and his kids in their 40's couldn't give a hoot about it. I guess for some, accumulating property has a deadline where inheritance and all of the hard work done by previous generations isn't appreciated and isn't welcomed.
Anyway, it's only half as big land wise as what we purchased, but the old guy is asking triple what we paid for ours. Thereby, the land rate has increased 6 fold in the past 4 years.
We are tempted to buy it, with a view to sitting on it for a few years and then redeveloping the amalgamated site. Ours currently is unsuitable for this purpose, as it's too long and skinny, with not enough big vehicle access. The site next door would double our street width and also allow a secondary access from a sidestreet, which is worth gold to any re-development.
The wife doesn't want to get into any more debt, but I see the opportunity and will probably kick myself if we don't snaffle it up now. The trust that owns the factory is producing excellent rental returns....so much so that we have to pay big mobs of tax on it, so I'm keen to take on more debt through the same structure and acquire it, thereby knocking the trust back into negative territory again.
My mentor always reckoned any property next door to your own was worth at least 10% more to you than anyone else in the market, and it's a great way of adding extra value, especially if it enhances development opportunities down the track.
Anyway, we are crunching some numbers to see if this thing flies or not.
May be the old guy is a wise old guy. He may know the benefits you shall get if you purchased it.
If that is the case then is it possible for you to purchase the site with the help of someone so the old guy doesn't know who actually is the original purchaser?
Cheers,
Oracle.
Absolutely. I am looking to pick up multiple opportunities this year.
And start a small development of townhouses toward the end of the year.
And start a small development of townhouses toward the end of the year.
