Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
If you had read some of my posts over the past 2 years you would know I have sold a number of properties across Australia, I am bearish on property but that does not stop be buying at the right price. You would also know I am actively looking for land at the right price, last down turn is when I made a killing on buying prime land at bargain prices, looking to do the same again. But as us bears say, the time is not right yet.
I am bearish on property, even for Sydney and Melbourne. That wont stop me posting positive data though or trends I can see developing.
You sold the property in states where prices rose, and kept the property where prices fell.
Maybe you should right an investment book?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
You sold the property in states where prices rose, and kept the property where prices fell.
You couldn't invent a Mike if you tried.
A property bull/bear who sells his Eastern states properties just before a major price rise and holds his Port Coogee moneypit as it collapses into the dirt.
Nobody would invent somebody so stupid.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
You sold the property in states where prices rose, and kept the property where prices fell.
Maybe you should right an investment book?
No you must have missed some other posts I made even further back, I did sell a number of Perth investments.
Not due to prices but due to the properties age, lack of depreciation and tax deduction. I kept a few new builds instead to maximize my tax returns. All my investments are 3x2 or 3x1, not hard to sell them or rent them out. As I have always said for years, market your properties for what the average Joe can afford.
Rents in Perth have fallen but any investor with a few properties will tell you that interest rates cuts have far outweighed any lost income due to falling rents. At present I could really do with another development to keep a few more new builds as my tax bill be unusually large in 2017 mostly due to falling interest rates and I suspect they will go further. Every time rates fall it adds to my income (which is a good thing) but also increase my tax bill. A couple more new builds would counter this. Problem is finding land, most still wont accept big price reductions yet, I have tried. I might just buy a block I can subdivide and build two for myself rather then a large development until I can get land at the right price.
Land prices are still behaving as if the mining boom is in full swing.
Jimbo
19 Aug 2016, 06:34 AM
You couldn't invent a Mike if you tried.
A property bull/bear who sells his Eastern states properties just before a major price rise and holds his Port Coogee moneypit as it collapses into the dirt.
Nobody would invent somebody so stupid.
You are a goose Jimbo.
Most of the properties I bought over East were bought 10 years ago, do you think they lost value after multiple boom cylces.
I will give you one example of a property. It was an older property, with little to no tax advantage due to no depreciation left. It is now in need of a major renovation to bring it back up to standard with a new kitchen, upgraded bathrooms, painting, needed new gutters, windows, garage roof. It was just old and run down like a lot of older homes in Melbourne. I had quotes from builders to renovate the place with different options, minimum price was about $60,000 with the end total closer to $100,000. So I decided, bugger that, sell it as it was right when the Melbourne market had taken off. It was on the market 4 days, got top dollar for it. So I was happy, sold a property to some one who needs to spend a good sum fixing it up. Perfect for a young person to live in and fix up and a mate of mine thought of buying it for his son to do just that, only problem is his son is a bit lazy like most young kids these days. An investor bought it, Indian fella. As an investor I would never have bought this property, bought in a boom so paid top dollar for it plus it requires a further $60-100,000 of renovation. Hence why I sold it.
Maximized my profit and reduced my liabilities. Due to selling properties over east I have a large war chest to use when prices over there do pop. You do think Sydney and Melbourne prices will pop don't you Jimbo. They are in a far bigger boom then we in Perth ever reached.
A property bull/bear who sells his Eastern states properties just before a major price rise and holds his Port Coogee moneypit as it collapses into the dirt.
Nobody would invent somebody so stupid.
You couldn't invent a Dimbo if you tried.
A property bull/bear who sells his unencumbered meth lab and plunges to proceeds into his Pound/Barratt moneypit as it collapses into the dirt.
All the while renting away his gains from the US$ play because the market never fell the 25% he thought it would by November 2014. 2 years rent down the shitter.
Nobody would invent somebody so stupid.
My only hope for my three boys is that they turn out nothing at all like Chris.
A property bull/bear who sells his unencumbered meth lab and plunges to proceeds into his Pound/Barratt moneypit as it collapses into the dirt.
All the while renting away his gains from the US$ play because the market never fell the 25% he thought it would by November 2014. 2 years rent down the shitter.
Nobody would invent somebody so stupid.
Had a look in a mirror lately Mathew...
Jimbo
19 Aug 2016, 04:38 AM
Yes, 40 less houses for sale than a year ago, 2791 more houses to rent.
Look at the OP in each thread, data is supported by RP data and ABS in each thread.
If you don't like the data take it up with the providers. You are talking about threads which contain data from 6-12 months ago.
At the time posted, yes prices were rising as the data supplied states.
Mike, we all know the last three months Data is inaccurate as stated by landgate, where most of the data is derived from. The people who derive the data may fail to display the warning, but someone such as yourself who is a professional should know better.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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