what would buffett do??

[sandyfeet]

He said that 'wealth is the transfer of money from the impatient to the patient' and I'm wondering if for our situation, may it be a case of wait and see or are there still good opportunities available to suit our strategy?

We are looking to spend upto $450k max with a 90% lend in Brisbane. We considered other areas (Logan, Toowoomba and to an extent we are still considering Redcliffe) but as this purchase is a long term hold with CG in mind, we believe a house, townhouse or villa within 15ks of the city will provide better returns over the long term. (I will also mention that we are not looking for a development site, we would consider an internal cosmetic reno but this is not a priority for us)

Despite Brisbane seeing growth over 2013, will this trend continue over the next 2-3 yrs? The low interest rate environment has certianly encouraged a lot of investors into the market but is there too much competition at the moment and are locals seeing prices edging beyond what a property is worth?

And finally, is it time to wait and see what happens or since we are holding for the long term, is there still value for us in Brisbane? I think the latter, but interested to hear opinions,

Thanks,

 

[Classclown]

WB said that if your not prepared to hold onto your investment for 10 years then don't even hold onto it for ten minutes

So go out and buy and hold tight for ten years

Ph a few agents in Brissie go to a few opens and get a feel of what the market is doing then make a decision from there

 

[TMNT]

WB said that if your not prepared to hold onto your investment for 10 years then don't even hold onto it for ten minutes

So go out and buy and hold tight for ten years

Ph a few agents in Brissie go to a few opens and get a feel of what the market is doing then make a decision from there

not a big fan of assuming, just because some successful investor , then everything they say is gospel and applies to you!

some people buy and flip,
some people buy, reno and flip
some people buy develop and flip
some people buy, hold for less then 10 years and flip,

and are more successful then everybody else

Does that prove WB is wrong? or these people know more then WB?

for the record, I think Buffet is a deadset legend

 

[keithj]

not a big fan of assuming, just because some successful investor , then everything they say is gospel and applies to you!

Agree entirely. If you have the skill, knowledge, contacts & backing of WB then certainly follow his rules.

Otherwise develop your own rules that fit your skillset. And there will probably be a few rules that overlap.

And I have great respect for WB.

 

[redwing]

Other than a farm, a commercial property and maybe his PPoR, what property does WB hold?

 

[Classclown]

Other than a farm, a commercial property and maybe his PPoR, what property does WB hold?

Probably a lot of young hot woman

 

[superAndrew]

Despite Brisbane seeing growth over 2013, will this trend continue over the next 2-3 yrs? The low interest rate environment has certianly encouraged a lot of investors into the market but is there too much competition at the moment and are locals seeing prices edging beyond what a property is worth?

Since you are holding for the long term then you should ask yourself if Brisbane will grow the most compared to other cities in the long term and make your decision based on that.

Personally I think that it will.

If it keeps growing for another year or 2 won't be that relevant if you are not planning to sell.

Andrew

 

[sandyfeet]

Ph a few agents in Brissie go to a few opens and get a feel of what the market is doing then make a decision from there

Thanks Clown

I am actually heading up for a week next month to have a look at a few areas of interest, I'm still trying to identify what type of property and location will best suit our criteria of <$450k, <15ks to city, long term hold without need to reno immediately.

 

[sandyfeet]

Since you are holding for the long term then you should ask yourself if Brisbane will grow the most compared to other cities in the long term and make your decision based on that.

Personally I think that it will.

If it keeps growing for another year or 2 won't be that relevant if you are not planning to sell.

Andrew

Thanks Andrew, Our Brisbane decision is also based on the fact we believe it will grow the most over the next 2-3 yrs and allow us to recycle equity. Secondly, we are also trying to get our L plates for interstate investing as we have 3 in NSW already and would like to diversify. Learning about a new city from a property perspective for the first time is daunting

Thanks again for your comments,

 

[greedy2000]

I'd probaby go out on a limb here and say that WB wouldn't invest in Australian residential real estate...

 

[The Fence]

I'd probaby go out on a limb here and say that WB wouldn't invest in Australian residential real estate...

Beat me too it...

 

[ZachAnSel]

Imho, the price already up quite significant since last year.
Especially inner circle ring and south (logan) surround.

But I believe good bargain still available. Just harder to find, Not sure if brisbane will be as hot as sydney..

Your holding period will determine how far can you go

 

[Moneyman_85]

Here's an off topic question lol

Who here sees logan similar to mount Druitt in Sydney (I know this has been said before)

Looking at the prices in Mount Druitt now, things are looking up for logan?

$180k for a unit

Ps: I love logan lol

 

[TMNT]

Here's an off topic question lol

Who here sees logan similar to mount Druitt in Sydney (I know this has been said before)

Looking at the prices in Mount Druitt now, things are looking up for logan?

$180k for a unit

Ps: I love logan lol

I think youd be crazy to buy in mt druitt now,

logan has a lot more steam left,

there is more demand and power in sydney overall then brisbane, so for logan to hit $800k, then brisbane would have to be like 1 mill each, that aint gonna happen for a long time

 

[Moneyman_85]

Once people can't afford Sydney though other major cities will get these people.
I sure as hell can't lol


Talking down the track tho..

 

[MTR]

Agree entirely. If you have the skill, knowledge, contacts & backing of WB then certainly follow his rules.

Otherwise develop your own rules that fit your skillset. And there will probably be a few rules that overlap.

And I have great respect for WB.

+1 Totally.