As with another comment tonight you can apply yourself to this Dilbert cartoon.
Again Dimshit is the pointy haired boss and newjez is Dilbert. You get the brown shirt. I see three issues with your proposition:
1) None of the income 2) All of the costs 3) "and pay it off as much as I can and then move there" would imply he wants something to live in at that particular moment I would compromise proximity to beach for city and you can do well.
I would also not sell your earning capacity in Perth short. Our IT Manager earns $225k per annum salary plus benefits (excluding super). I have mates working Rio, BHP, Chevron and FMG in IT earning more.
There is money to be made in Perth irrespective of what the clueless claim.
Smart money is to buy something in Perth that covers your Sydney rent. If you then pump the difference into your mortgage here you get the exact scenario that you are looking for.
If you do that between Karrinyup Road to the north and Leach Highway to the south you will be fine. Cap that to the Graham Farmer Freeway or Tonkin Highway to the East and no matter what you buy it will not crash.
Good luck to you.
Thought you were the guy picking the land shortage?
Five years till he comes to Perth.
Or he could buy that one in Manning or similar, let it to students for five years then rebuild.
But distance letting is a pain in the butt. Done it too many times.
Thought you were the guy picking the land shortage?
Five years till he comes to Perth.
There is no shortage of land. There is a shortage of land sales, and a shortage of quality land at cheap prices in inner suburbs. But until we join the north to Dongara and South to Bunbury we have plenty of uneconomical urban sprawl to play with.
Quote:
Or he could buy that one in Manning or similar, let it to students for five years then rebuild.
The only issue I see with his strategy is he has lowballed his target price and own earning capacity.
But distance letting is a pain in the butt. Done it too many times.
I haven't been to one of my investment properties since we did the handover inspection 4 years ago. My agent sends me photos at every inspection and money net of fees every month. The houses we lived in we still see because we are still friends with neighbours that we lived with at the time still living in the street. We catch up a few times a year for a drink or meal and I look at the outside of my former home, but don't go in. Again the agent does that. The other I drive past from time to time on my way somewhere else, a quick look out the window shows it hasn't burnt down.
If you have a good agent, you have no worries no matter where your investment is. If you have a shit agent you have plenty of worries no matter where your investment is.
No different to shares. No point worrying about things you cant control.
My only hope for my three boys is that they turn out nothing at all like Chris.
My comment was specifically about finance, a topic on which I have some knowledge.
However I don't know Perth that well and I don't feel confident in giving you advice on where to buy. You should seek some advice from those here who do know Perth well, but I warn you that there are some quite weird people on here from Perth. You will get a range of views including some that won't make any sense at all. You'll have to filter that advice yourself.
While I happen to know Rufus offline casually, and respect him and the work he does on a personal level, it's useful to step back and consider the exchange between the OP and Rufus.
The OP doesn't know much about the Perth market. Rufus doesn't know Perth "that well" either. Yet the latter can readily (and quite legitimately) arrange a loan for the former to invest hundreds of thousands of dollars in the currently-declining Perth housing market.
The phrase "what could possibly go wrong?" simply doesn't do the situation justice.
There is no shortage of land. There is a shortage of land sales.
Due to what Matey?
Lack of demand maybe?
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.
While I happen to know Rufus offline casually, and respect him and the work he does on a personal level, it's useful to step back and consider the exchange between the OP and Rufus.
The OP doesn't know much about the Perth market. Rufus doesn't know Perth "that well" either. Yet the latter can readily (and quite legitimately) arrange a loan for the former to invest hundreds of thousands of dollars in the currently-declining Perth housing market.
The phrase "what could possibly go wrong?" simply doesn't do the situation justice.
No. Rufus said the OP shouldn't have a problem getting a loan. That's a bit different from arranging a loan.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
While I happen to know Rufus offline casually, and respect him and the work he does on a personal level, it's useful to step back and consider the exchange between the OP and Rufus.
The OP doesn't know much about the Perth market. Rufus doesn't know Perth "that well" either. Yet the latter can readily (and quite legitimately) arrange a loan for the former to invest hundreds of thousands of dollars in the currently-declining Perth housing market.
The phrase "what could possibly go wrong?" simply doesn't do the situation justice.
In any market regardless of direction there are still people buying. They have their reasons and those reasons are none of our business. I try not to be drawn into giving clients advice on buying, not giving market advice is my preferred stand.
Let me make it clear - telling someone to NOT buy is still giving them advice, and it has the same risk level as advising them to buy.
He asked a question on whether finance is available to buy in Perth - I answered that question and gave zero advice on what to buy, where to buy, or whether in fact he should buy.
How much of a Nanny state do you think we should create. Are people no longer allowed to make their own decisions, whether or not those decisions are wise, and do any of us know where house prices in Perth will be in 10 years time.
Take risks - if you win you will become wealthy, if you lose you will become wise
Demand for housing is unchanged in decades Dimshit. People still have an iron clad desire to live in a house as opposed to on the street or in the sand dunes.
Land sales are down because there is a glut of finished product.
I posed the question before and you didn't answer so I will pose it again:
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