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From: Jack Moro
G,day all
Just read the posts from some respected investors (In or out the market)
You may need to slap me in the face with the obvious but, I cant see the problem with buying now, I say this because
1. Cheap rates 6 - 7% up to 10 years N.A.B.
2. I've done it before in November 1989 (Young and dumb) bought a cheapie which has more than doubled in value (On par with Jans expeerience)
3. Post 1989 (the recession 1990 1991) the property I bought in 1989 I dont believe went down in value, to be honest I am not sure what happened with its value as I am a buy and hold P.I. what did happen was people still needed a home to RENT and they rented it, my sums at purchase, showed a property _ quite -ve but wouldnt you know it by 1994-1995 the bull was hitting its straps the property soon became +ve and in hindsight Iam glad I bought it them,It was my first venture.
(Now we have cheap money sums should work out O.K.)
This may only suit buy and holders, I also remember reading in Jans book where she seems to have bought in so called bad times (High interest rates) and she mentions only paying $80 pw for her I.P "I am sure we can do better than that at the moment!!!"
(Iam in Melb and buy out East)I can and I am a relative newbie so come on and slap me with the obvious other wise I am going to buy an over priced house which is only slightly -ve and fits in with my servicability, and I believe will continue to rise in value in coming years even if we have a couple of bad years.
Jack
G,day all
Just read the posts from some respected investors (In or out the market)
You may need to slap me in the face with the obvious but, I cant see the problem with buying now, I say this because
1. Cheap rates 6 - 7% up to 10 years N.A.B.
2. I've done it before in November 1989 (Young and dumb) bought a cheapie which has more than doubled in value (On par with Jans expeerience)
3. Post 1989 (the recession 1990 1991) the property I bought in 1989 I dont believe went down in value, to be honest I am not sure what happened with its value as I am a buy and hold P.I. what did happen was people still needed a home to RENT and they rented it, my sums at purchase, showed a property _ quite -ve but wouldnt you know it by 1994-1995 the bull was hitting its straps the property soon became +ve and in hindsight Iam glad I bought it them,It was my first venture.
(Now we have cheap money sums should work out O.K.)
This may only suit buy and holders, I also remember reading in Jans book where she seems to have bought in so called bad times (High interest rates) and she mentions only paying $80 pw for her I.P "I am sure we can do better than that at the moment!!!"
(Iam in Melb and buy out East)I can and I am a relative newbie so come on and slap me with the obvious other wise I am going to buy an over priced house which is only slightly -ve and fits in with my servicability, and I believe will continue to rise in value in coming years even if we have a couple of bad years.
Jack
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