The Entrance
- Thread starter emily
- Start date
Emily
There is a post on central coast at the moment .
Same sort of arguement .
Cliff
There is a post on central coast at the moment .
Same sort of arguement .
Cliff
No, The Entrance is not a good place to buy for investment.
1. Massive oversupply of units in big highrises. Lots of resi and commercial vacancies.
2. This suburb is heavily tourist dependent. Virtually dead in winter
3. Quite different to the rest of the Central Coast in the sense that it does not benefit from commuters
1. Massive oversupply of units in big highrises. Lots of resi and commercial vacancies.
2. This suburb is heavily tourist dependent. Virtually dead in winter
3. Quite different to the rest of the Central Coast in the sense that it does not benefit from commuters
China
Have you bought one property yet ! Oh , yes , you bought a house , but no IP's
It took me a couple of days of coming back here to realise that you have absolutely no idea what you are talking about . I suspected after about five minutes ...You maybe great at figures and analysing ( I'm pretty good at that myself ) but when you come to conclusions I wonder if we're talking about the same thing.
I'm not saying The entrance is a good place to buy but to dismiss it the way you have done is just wrong .
You are the ultimate arm chair expert , or as they say " All hat , no Cattle "
I have no illusions about being a guru , but I try to keep a sense of balance over what I say , because I know that people are influenced by what we say here , and not everyone has the ability to sift through the crap that gets posted here and make an informed decision .
Wake up to yourself . You have ability but if you keep on going the way you're , at the end of this cycle you'll be saying " I think Prices are overbought at the moment , I'm waiting for them to correct and then I'll buy "
................end rant .....................
.........................sigh ...........
Cliff
BTW , if you reply to this , don't bother commenting on the Entrance , concentrate on what I'm saying
Have you bought one property yet ! Oh , yes , you bought a house , but no IP's
It took me a couple of days of coming back here to realise that you have absolutely no idea what you are talking about . I suspected after about five minutes ...You maybe great at figures and analysing ( I'm pretty good at that myself ) but when you come to conclusions I wonder if we're talking about the same thing.
I'm not saying The entrance is a good place to buy but to dismiss it the way you have done is just wrong .
You are the ultimate arm chair expert , or as they say " All hat , no Cattle "
I have no illusions about being a guru , but I try to keep a sense of balance over what I say , because I know that people are influenced by what we say here , and not everyone has the ability to sift through the crap that gets posted here and make an informed decision .
Wake up to yourself . You have ability but if you keep on going the way you're , at the end of this cycle you'll be saying " I think Prices are overbought at the moment , I'm waiting for them to correct and then I'll buy "
................end rant .....................
.........................sigh ...........
Cliff
BTW , if you reply to this , don't bother commenting on the Entrance , concentrate on what I'm saying
I am still of the opinion that The Entrance is not a good place for investment in terms of resi IPs/
The Central Coast is not one big uniform property market. It is quite a vast place and there are markets within markets.
Whilst prices may rise generally with the overall market, the Entrance is unlikely to outperform with the absence of any fundamental drivers.
The Central Coast is not one big uniform property market. It is quite a vast place and there are markets within markets.
Whilst prices may rise generally with the overall market, the Entrance is unlikely to outperform with the absence of any fundamental drivers.
Earth to Brick wall
Depressed area. Motivated Vendors
Opportunity to buy REALLY well.
Everywhere goes up
If you buy really well , your % gain can out pace buying in Nice areas.
I do both . Nice and Crap .
Made very nice MONEY , doing both.
cliff
Depressed area. Motivated Vendors
Opportunity to buy REALLY well.
Everywhere goes up
If you buy really well , your % gain can out pace buying in Nice areas.
I do both . Nice and Crap .
Made very nice MONEY , doing both.
cliff
I confirm above.
So can 1 . Max , That's not the point I'm trying to make to China
The best investor I've seen on this forum ( Nivia P aka the Wife ) would specifically look at problem areas and see opportunities that others over looked . She made Millions doing that.
Most of the long term members made money in the last cycle buying in places that the locals didn't want to buy in.
The agents in Logan and Rocky couldn't understand why we were buying there. One in rocky would dispense advice on how to make money buying gold ...One I know in logan sold me properties for 70 k and two years later bought one for himself for 200 because he could see a lot more potential in the area .
I'm not saying the entrance is a good place to buy , but I'm saying don't dismiss it so simplistically.
cliff
The other major problem with The Entrance at the moment is that despite the dampener on the prices, it is still over priced compared to similar situations elsewhere on the Central Coast. Hence, prices are not truly depressed and the opportunity to buy at a good price is simply not there.
Furthermore, there is no potential for further development and it will take a long time to overcome the excess supply of units on the market. The demand is simply not there due to the Entrance being a very seasonal, tourist dependent type of suburb.
When the first high rises went up, you could command high holiday rental style fees but even that is now gone due to the glut in the market.
Furthermore, there is no potential for further development and it will take a long time to overcome the excess supply of units on the market. The demand is simply not there due to the Entrance being a very seasonal, tourist dependent type of suburb.
When the first high rises went up, you could command high holiday rental style fees but even that is now gone due to the glut in the market.
China, you are an intelligent guy and you often write eloquently. But what on earth are you doing on a property forum if you aren't an investor?
Your "problem" seems to be that your brain seems to be hard-wired NOT to pull the trigger finger.
It does not take an especially high IQ to be an low-end investor. But you DO need to have a strong stomach and a lot of patience. I hope you find these qualities someday and join the rest of us on a more equal footing.
Be a man China - bite the bullet son, and join the rest of us.
Your "problem" seems to be that your brain seems to be hard-wired NOT to pull the trigger finger.
It does not take an especially high IQ to be an low-end investor. But you DO need to have a strong stomach and a lot of patience. I hope you find these qualities someday and join the rest of us on a more equal footing.
Be a man China - bite the bullet son, and join the rest of us.
Ok, I'll put One Worlds question to you another way.
Where is, in your opinion, a good place to buy for investment?
Sure, a little off topic but I have referenced your earlier remark and just curious. If it's not relevant enough then I shall ask you in a new thread.
Ok, I'll put One Worlds question to you another way.
Where is, in your opinion, a good place to buy for investment?
Sure, a little off topic but I have referenced your earlier remark and just curious. If it's not relevant enough then I shall ask you in a new thread.
My humble opinion.
A good place to buy for investment is different for different investors. Depends on what their strategy is, what phase of investment they are in, their appetite for risk and their ability to do renovations, etc.
Myself I am focussing on Sydney, lower and upper north shore. The area is well known to me, as is the Central Coast. Further more, I am also looking for commercial opportunities.
I believe that the north shore has a strong sustained history of capital growth. Mixture of high rises and ordinary houses - still potential for development. Plenty of infrastructure and facilities to ensure future residential demand. The median price ranges also have plenty of upside, having been at a plateau for a few years.
I don't think there will be stellar growth in this area but growth should be quite stable and steady - so it suits me.
Actually North Shore is moving strongly atm China .
Wahroonga was mentioned as a potential hot spot in The Sun Herald on the weekend .
We live there . Agent has told us we could about 200 k more than when we first talked to them earlier this year.
We bought our future PPOR in Turramurra and settled on that about ten days ago . Agent who we trust said we could already easily get 50 K more than when we bought it six weeks earlier . Renting it out for a couple of year while our current PPOR goes up in value.
The market under 1.5 is strong and we saw a knock down house in an average position attract two offers during the first open when we were looking two months ago.
We weren't seeing massive crowds , but the people looking were serious and weren't waiting around trying to negotiate people down . They were happy to meet the asking price as we did . This was two months ago and we certainly saw a big increase over that time in other areas we have been looking in.
The lower end unit market on the north shore and northern beaches is very hot atm and if you looking for a reasonably priced unit atm , you won't find it . I'd say 10 % up on earlier this year at this stage.
The market over 2 mill isn't as strong as under 2 so if you're wanting something more upmarket you could probably get this for high 2's. Have been through this . Very nice house .....
http://www.realestate.com.au/property-house-nsw-turramurra-114311415
Cliff
Wahroonga was mentioned as a potential hot spot in The Sun Herald on the weekend .
We live there . Agent has told us we could about 200 k more than when we first talked to them earlier this year.
We bought our future PPOR in Turramurra and settled on that about ten days ago . Agent who we trust said we could already easily get 50 K more than when we bought it six weeks earlier . Renting it out for a couple of year while our current PPOR goes up in value.
The market under 1.5 is strong and we saw a knock down house in an average position attract two offers during the first open when we were looking two months ago.
We weren't seeing massive crowds , but the people looking were serious and weren't waiting around trying to negotiate people down . They were happy to meet the asking price as we did . This was two months ago and we certainly saw a big increase over that time in other areas we have been looking in.
The lower end unit market on the north shore and northern beaches is very hot atm and if you looking for a reasonably priced unit atm , you won't find it . I'd say 10 % up on earlier this year at this stage.
The market over 2 mill isn't as strong as under 2 so if you're wanting something more upmarket you could probably get this for high 2's. Have been through this . Very nice house .....
http://www.realestate.com.au/property-house-nsw-turramurra-114311415
Cliff
These days, one can buy a house in Beverly Hills Calif for less than a house on the North Shore! I find this truly amazing. We are surely in a red hot market.
There seem to be lot of wealthy people around with big chequebooks. It would be interesting to see what % of the deals are being done with cash.
There is massive value in the North Shore market over the $1.2mil mark. Especially when you compare that with what houses are going for further west.
This is also my perception of what is happening on the upper North Shore - there is different activity levels at different price ranges.
2 mil plus is not good for investment but for PPOR.
However, the lower price ranges are indeed quite competitive and you have to be at asking price or above to get a guernsey.
Wahroonga is very popular with specialist doctors because they can service the North Shore market as well as the Central Coast market. It also allows their kids to go to top private schools.
But I actually see far more potential in the lower north shore in terms of townhouses (Rixter style) around the 1m range in terms of yield, growth potential, relatively modest stratas, etc. And if I do end up buying resi IP, I suspect that it will be a townhouse style property between Chatswood and North Sydney.
2 mil plus is not good for investment but for PPOR.
However, the lower price ranges are indeed quite competitive and you have to be at asking price or above to get a guernsey.
Wahroonga is very popular with specialist doctors because they can service the North Shore market as well as the Central Coast market. It also allows their kids to go to top private schools.
But I actually see far more potential in the lower north shore in terms of townhouses (Rixter style) around the 1m range in terms of yield, growth potential, relatively modest stratas, etc. And if I do end up buying resi IP, I suspect that it will be a townhouse style property between Chatswood and North Sydney.
What suburbs in the North Shore do you have in mind, Shahin?
Prices definitely up in this area. Have been keeping a laser focus on west pymble for the last 6 months and prices are up by at least 10%. Just not much stock around in the sub $1.2 market which is white hot.
