Property show on ABC2 Tonight.

[Andrew_A]

Great to know the squatter lady wasn't making any ethical sacrifices, good to hear.

Otherwise it was a pretty well done piece of TV I thought, really impressed compared to the last piece of drivel I watched that was linked on here (The one about Western Sydney and mortgage stress). Some interesting viewpoints, and there is no 'one correct' answer, the guy who wanted to party and travel during his 20's is making no less an ethical decision than a person who wants to own heaps of houses imo.

But.. what would I know? I actually pay for a roof over my head, silly me.

 

[Bandita]

Hilarious guys, thanks for the support.

Yedreaming, i will make a post in the next couple of days with my story, will take a while to type it all and im somewhat sleepy @ present.

Thanks Nathan, please do!! I've seen many of your posts on what you're buying, but not how you got started, how you've acheived what you have so far, etc - will be a great read!!

Next Interview = Nathan??

Cheers,
Jen

 

[Nathan]

Thanks Jen,

Talking about myself aint my fav topic, have to have the time to concerntrate so i dont blabber..

hopefully tomorrow il have a bedtime story posted.

 

[hobo-jo]

Well done on the show Nathan. Think you got your point across a lot clearer than a lot of the others, perhaps if anything that's more because you appeared to have a clear goal whereas a lot of others on the show seemed to be drifters with a vague idea of what they wanted.

You seemed to be dressed up more than any others on the show (I don't think I saw any other ties), not that it's a bad thing, I was just curious as to what they asked you to wear on the night...

How is your portfolio as a whole? Is it close to neutral?
I admire the guts it would have taken to build up such a large portfolio at such a young age!

 

[craigb]

ONYA! Nathan, well we know those who will be naking a second look back when they are in their forties, well done cheers.

 

[Nathan]

Thanks Jo and Craig,

I was told to be casual but was wearing a suit so thought i would just roll with that....

some are neutral some are like 200 neg per week.

now with IR reductions, im about $800pw negative., but if all rents go up $50-100pw il be in great position.

I wish to buy 2 more in near future. Sitting @ 9 currently.

 

[sunshine]

Love your work Nathan!!

Congrats for the show and the fantastic success at your age.

I hate to admit it but at your age I was the female version of the student - without the study!! I have spent at least 2 IPs on travel and good times. Don't regret one minute of it though.

Well done for knowing what you want and making it happen.

Look forward to reading the Nathan story.

Sunshine

 

[craigb]

and all of the other people were future customers or as some put it buisiness parteners, not so much the squater because all of our properties will be full,

 

[DavidMc]

Thanks Nathan, please do!! I've seen many of your posts on what you're buying, but not how you got started, how you've acheived what you have so far, etc - will be a great read!!

Next Interview = Nathan??

Cheers,
Jen

Agreed! An interview would be great.

Way to go Nath, I liked your 'it's a great feeling to provide people with accomodation' comment.

 

[DavidMc]

its all good, i know one day, the same people will turn around and say i was born with a silver spoon or some crap like that.

Trust me it will happen. I'm 30 and I'm getting my first bit of it now. Hmmm... my Dad's last job was assembling plastic hose bits n pieces at Nylex and my Mum worked behind a bar in Cranbourne... I also joined the Army to save my deposits quicker... Anyway... Strange thing is you try and help these people by educating them then you are 'just talking about money all the time! How superficial!'. Best just to keep it to yourself especially in this climate where many people are under financial stress. I too was a D grade celebrity for 15 minutes and boy did that get a few sour looks from two or three of my "friends".

some are neutral some are like 200 neg per week.

now with IR reductions, im about $800pw negative., but if all rents go up $50-100pw il be in great position.

Are you using debt/equity growth to service debt? Unless you've got a spare $800pw from your job?

Your achievement is inspirational. I've done quite well myself, but to think where I'd be if I pushed that little bit more.

The show was interesting. It seemed to portray you could only 'live it up' or 'buy property'. No in between option, which is BS as I started with nothing and have been doing both for years.

 

[redwing]

Thanks for your support Jo.

Yeh im sacrificing... well for me i hate sport... i would rather shove marbles up my AR$E then watch sport, not for the fact im into doing such, just for the simple fact that i dont like sport and may have similar views on sport as i have on IP's... each to their own views, if i cant get my views expressed which in my mind im correct then i will not enlighten them to this side of the world...


Nath.

Nath


I dont know how to tell you this mate...ummm...that's not how you play marbles

 

[Trogdor]

Hack Half Hour ABC 2 @ 8:30 tonight.

Give it a watch people who have ABC2.

Is there a weblink to your segment Nathan to watch online?

 

[sailor]

Just watched the show. Good on yer Nathan! Stick to your guns mate.

I would be interested in seeing a "where are they now and what have they done" show of these exact same people, in 20 or 40 years time. Some will be dead. Some will be unable to retire and struggle to keep working to pay the rent. Others will be living on the streets.

and Nathan? Nathan will be comfortably retired from a normal job, having adventures and still be able to pay the bills.

 

[kissfan]

I would be interested in seeing a "where are they now and what have they done" show of these exact same people, in 20 or 40 years time. Some will be dead. Some will be unable to retire and struggle to keep working to pay the rent. Others will be living on the streets.

Was just about to post saying the same thing except I was thinking along the lines of an update in 5 and 10 years time, just to show what can be achieved (or missed out on) in a fairly short period of time.

Regards
Marty

 

[WinstonWolfe]

Downloaded the show yesterday. Wasn't as laced with left bias as I'd have expected from anything to do with JJJ. Maybe Antoinette took on board what was said here.

I thought everyone got their opinion across clearly and gave reasonable respect to others, apart from the derogatory cackles when the investors were speaking (i.e. when Nathan mentioned delayed gratification and that there was a gf/s).

What I found disappointing though was the level at which the debate was held. Using a mixed analogy: the debate was similar to discussing whether it is better to be on a yacht, catamaran, or motorboat, when there's a cyclone approaching.

No mention or understanding of what drives property prices, availability and cost of credit, opportunity costs, effect of compounding.

Instead, you have squatters more concerned about global warming, the adverse effects of which are still not known, and will not be significantly effected by what Australia does. These squatters are more likely to die of starvation, due to a lack of oil based fertilizers before global warming impacts them. If more people followed their example, they'd be stuffed due to high demand for and lack of supply of squats. Their ethics are hate based.

The surfer/physio student/ traveller/party animal......well what can you say....young dumb and full of c*m....the stereotype angry antisocial urban Marxists love to deride, because they are envious these guys get the chicks and have an uncomplicated view on life. If he is fit and strong, and has wealthy parents, he could do ok...cos what he lacks in financial acumen, he'll make up for by being good natured, which helps a lot in his line of work. I have worked with many guys like him and they end up settling down and having kids and being salt of the earth.

The girl who wanted to save and buy a house. Great attitude, though doing it tough working those hours. Would give her a job in an instant. And talk her out of buying until the credit crisis was over. Don't know why she had a thing against renting though. Maybe she couldn't find non party animal like mindeds to share with.

There were a couple of meek mannered opinions expressed that were very interesting. There was a girl who talked briefly about house co-ops where several people get together and buy and live in a house presumably. It is an important concept and should have been explored further by the host.

The Marxist researcher who wants the govt to step in and demand longer leases so tenants can personalize their residence....well, wtf. How many property investors would build new stock if that was the case?

Lots of opporunity for the investors to have defended themselves by mentioning new housing supply has traditionally been supported by investors. Ethnics esp Italians, Greeks, and Eastern Europeans have a tradition of building 6 packs for young renters. When supply was not constrained, rents were cheap enough for young renters to save a deposit for their own house further out. Historically it hasn't been an option for kids to stay at home until they saved a deposit.

Finally, those who don't value buying a house want to think less selfishly about the repercussions of their actions. It is their choice to stay in the rental market that drives competition for rentals up, and will make it a lot more difficult for younger renters coming through. So the choice to not save a deposit and buy younger in life, is increasing demand for rentals....and making things even more sucky for Gen Z and AA.

 

[HiEquity]

The Marxist researcher who wants the govt to step in and demand longer leases so tenants can personalize their residence....well, wtf. How many property investors would build new stock if that was the case?

Hi WW

Great post. I would give you more kudos but I must "share it around" first!

I'm not so sure about this paragraph though. Looking at other countries which have these long leases as well as the commercial market with the same long leases, they aren't necessarily a big problem for investors. Most of the time in Europe for example on a long lease you don't get curtains, light fittings, appliances etc etc - the renter has to supply them for themselves.

The arrangement has all the hallmarks of our commercial / industrial leases - little interference from equivalents to the Residential Tenancies Act is the main outcome. Personally I can see the benefit to investors of longer (10 year for example) leases provided investors aren't asked to fix the toilet etc and the property is returned to good condition prior to finishing the lease, new carpets and paint etc. None of this "reasonable wear and tear" guff. A bit like the Defence Housing leases come to think of it... I can certainly see the advantages - it puts the relationship on a more commercial footing.

 

[WinstonWolfe]

A bit like the Defence Housing leases come to think of it... I can certainly see the advantages - it puts the relationship on a more commercial footing.

Can see the sense of what you are saying HE, but that is very much dependent on cutural values, personal responsibility, tenancy regulations, job permanence, workforce mobility, renter's ability to pay for refurbishment, ability of renters to absorb owner interest rate rises.

In my experience, renters themselves choose to have shorter leases and go periodical on longer occupancies. They don't want to be locked in long term. Maybe the diff with Europe is Aussie renters are younger, and less settled, on average.

Further, investors would have less risk with longer rentals if they could get fixed interest loans for longer periods. My experience has been if you try to pass on all of an interest rate rise to the tenant, they will move to cheaper rent provided by someone who doesn't pass on the full rise.

 

[steveadl]

In my experience, renters themselves choose to have shorter leases and go periodical on longer occupancies. They don't want to be locked in long term. Maybe the diff with Europe is Aussie renters are younger, and less settled, on average.

Spot on, cultural differences.

My uncle and aunty in Germany got married, moved into a rented 2br apartment, had 2 sons (now moved out and in their mid 30's), he died a few years ago, she still lives there and has no intention of moving. So almost 40yrs or so in the same apartment.

Granted this is only one case and pehaps an extreme, but you get the idea. Unheard of in Aust.

 

[WinstonWolfe]

Actually, one thing the Marxist researcher said, was widespread private property ownership was due to anti communist policy in the 40s and 50s, with many mortgages being financed by the state. Before that, property ownership was low.

I'd seriously like to check her interpretation and facts.

 

[WinstonWolfe]

Are squatters morons?

It seems so to me.
Let's look at some hard facts.

How big is the problem
Of a recent student survey, 220 out of 8424 said they were homeless....whatever homeless means....so that's 2.6%

Income
The maximum independent student living allowance is $213 a week.

A full time university degree is designed so that an average student gets average marks if they devote 40 hours a week to lectures and study.

It is not difficult to get work for $15 an hour. If a student worked 7 hours on a Saturday, they'd make $105. Combined with $213, that's $318 a week to live on. That's without considering full time work in the hols.

I don't know what one has to do to get maximum independent youth allowance, but friends I know who's student kids have had a gap year to qualify didn't seem to have trouble, and they work as well.


Cost of Living

Groceries
Anyone who shares in a communal house can easily do all groceries and meals for less than $100 a week.

Transport
can be inherently free. Gees, if a 20 year old can't walk or ride a bicycle 10km round trip to uni, they are bludgers. Doing so would save them on gym fees too. But let's allow $25 a week for buses or trains.

Cost of Education
Let's throw in another $500 a year for books, though smart students would use the library or share books with friends.

I figure a student should be able to make ends meet on $300 a week if paying $100 a week for rent.

Accommodation
I just looked for rentals in Footscray Yarraville area and there's 150 flats and houses students could share and easily pay less than $100 a week in rent.
Some of the nicer houses would require no more than 2 people to share one of the rooms.

Compare that to the whiner in the article who shares a leaking garage at the back of a house.

Students should be able to save enough money to buy furniture in the hols.



What peeves me about these morons, is that they expect the tax paid by working class check out chicks and labourers to contribute to their university education, so they can get ahead of the check out chicks and labourers.

Am I missing something or are squatters and those calling themselves homeless too stupid to be at university????