Reply: 1.1.1.1.1.1
From: Alan Hill
"Prices going up again"
Isn't it WONDERFUL!!!
I don't know about you but this is exactly what I'm in this for.......I love picking up the papers and reading this sort of stuff.
We're a funny mob on this Forum at times aren't we......many are paranoid and fearful of "when the bubble bursts". Oh dear....quake...quake.
Of course it will burst and we have to ensure we purchased and set ourselves up to handle this time. But to me property cycles can be a bit like a roller coaster ride....there's the time when you need to construct the ride.....check all the mechanics and safety issues......start the ride and climb some of those steep sections of the track......go around some fast new bends into the unknown......but hey...for me....headlines like we've seeing now have me holding my hands in the air, racing down the roller coaster track with a huge smile on my face. Sure we'll probably come to a stop at the bottom........but then, buy another ticket and have another ride......
As long as I don't feel I HAVE to purchase right now, and I'm not in a situation where I have DRAMATICALLY over extended myself, I'm more than happy to see this go on for another 6-12 months. Increasing compounded equity is a wonderful thing!
This is the time that I'm happy to spend a bit of time tidying up my structure, looking at other interim investment options and hopefully reading headlines that say "Property Prices Continue to Rise!!".
My powder is staying relatively dry at the moment so that I can put it to better use in what will probably not be the too distant future.
Not saying there aren't opportunities out there to still make money, but from a personal point of view I think it's getting harder and riskier at the moment.
Someone like a Michael Croft will probably always pick up a Reno in any part of a cycle and make money out of it......others will not have those same skills.
Sure extend your boundaries with IP but it's times like this I think you also need to be realistic about what your particular areas of expertise are to make money in a market like this.
Hmmm.....I'm starting to sound like a "conservative old fart"......maybe I should move down to Gee Cee's part of the country?