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When will the Bulls eat humble pie on WA?
Topic Started: 24 Mar 2017, 12:18 AM (19,226 Views)
Foxy
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Zero is coming...

Blondie girl
24 Mar 2017, 02:12 PM
Hey veritas

I have always believed in buying what can be afforded and I haven't changed that rule over the years.

Yes, the Perth rental market is somewhat challenging for some, but if one is realistic with what a prop can be rented out according to the current market decisions it does make life easier. I do get realistic feedback from PM's but I also do my own checking in the location my props are in other similar props.

In regard to buying, its about what works for you.

I currently have a vacancy in one prop and the tenants are out this Monday, the prop has been promoted for approx. 2-3 weeks (cant remember excactly) and there has been 1 bite but I did not accept it coz their financial checks was a bit iffy.. so the rental rate may need to be further reduced a little. I have been fortunate that these tenants were in the prop since 2012 and the crazy thing is they did periodic in a time when the market changed to their advantage but they never haggled for a rental rate decrease. Another good thing is the main tenant is a registered painter and he is happy to paint the areas when its been iffy over the time they leased the prop.

The hubs will be buying another prop from mid to later this yr as he has to get a prop up to scratch before it sells... (was his Mothers place).

ps
try to avoid limestone walls.....
Just telling how it is honey dumbs.


Another thing veritas?
Don't get into the trap of stewing decisions, if one overdo, compares, goes back and forth for ages one will never make that decision to buy.

Its about opportunity and if it ticks what you are requiring in the prop one should eventually put the offer in with confidence.
I have gone way past being not confident when I first started out despite family support to understanding that if one sees a prop that is quality built, or has the land to develop and its in a great location I go for it with realism to budget.

What you don't get is people's situations.

Some in very strong financial positions can hold long term and intentionally not develop some land in their props so their offspring has opportunity in the future.
Some need to learn about Trust stuff and tax minimising strategies.

Acquiring prop is subject to financial changes which can be for the better like part estate proceeds from the death of a parent.

True.
However for some the current Perth market can provide opportunity for some choice in buying and understanding what suits their budget.

Visit the home opens and use the agents to forward tons of emails of props ...........

Cant hold a breath ongoing...........

:wak:
Limestone sucks....

And a little story,

Rental 3 years ago $240 pw
2 years ago $220 pw
now $200 pw.

Slow steady decline.

And as people start to get liquidated, good tenants will buy their own place, leaving the dregs to rent.

Or the smart and rich.

The landlord will be marginalized...
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Jimbo
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Rufus
24 Mar 2017, 05:44 PM
I assume you will already know that the rental market in Perth has tightened and vacancies have dropped for the first time in 4 years.
Asking rents are rising for the first time in 2 years, and asking prices are falling at almost a snails pace and look as though they are finding a bottom.
Any current tightening will most likely be down to a lack of new investors rather than an increase in demand. Also, there is always a bit of an uplift in the final quarter as new students look for places to rent before the start of the academic year.

However, looking at the numbers of rentals advertised, there has been an increase of 1000 over the last year (according to REIWA) to 10,486. Realestate.com.au has 12,500 properties advertised for rent.

This number was below 3000 in 2012 when we were pulling in 60,000 new people a year.

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.
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PVN
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hidflect
24 Mar 2017, 12:22 AM
They're too busy mowing their tenants' lawns between working a second job to keep up with the interest-only loans. All the time mumbling to themselves how they are "Lords" and the dude sitting inside their house paying pennies for rent is a sucker.
:lol :lol :lol nice joke. But, sad, in 6 months time they will leave it for the banks to mow.Only reason RE haven't crashed in Perth is the realisation of the 'Lord" that they will be indebted to the bank the same amount whether they keep the house or not. catch 22
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Rufus
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Jimbo
24 Mar 2017, 05:55 PM
Any current tightening will most likely be down to a lack of new investors rather than an increase in demand.
That statement doesn't make any sense Jimbo, want to have another go.
If investors aren't providing new stock the market must tighten. Population change is still positive.

Take risks - if you win you will become wealthy, if you lose you will become wise
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Chris
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Rufus
24 Mar 2017, 07:25 AM
Perth houses are at or very close to the bottom. You really should have bought by now if you want a home for your family. I say that not because of price but options and choice. With a PPOR things like being close to schools, family, work, shops etc have a value, and as the level of stock declines those choices become limited.

It will still be good buying in Perth for the next 12 months, but you may have missed the very best buys. No big deal though.

Remember the population growth figures we got yesterday were for Q3 2016, they may not be what is happening today. Same for all of the other data although unemployment numbers and real estate data is pretty good.

But please wait until you see prices rising, apparently you need confirmation before you buy and you enjoy paying rent.
This sounds like financial advice Rufus, given you are not as incognito as you would like to be maybe you should retract from such statement. You maybe held to acvount with a civil suit if someone was to take that advice and end up with an adverse outcome.
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Trollie
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Chris
24 Mar 2017, 07:57 PM
This sounds like financial advice Rufus, given you are not as incognito as you would like to be maybe you should retract from such statement. You maybe held to acvount with a civil suit if someone was to take that advice and end up with an adverse outcome.
When you suing those bears who told you not to buy in sydney?
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Rufus
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Chris
24 Mar 2017, 07:57 PM
This sounds like financial advice Rufus, given you are not as incognito as you would like to be maybe you should retract from such statement. You maybe held to acvount with a civil suit if someone was to take that advice and end up with an adverse outcome.
I don't take any notice of idiots like you Chris,

Cheers
Take risks - if you win you will become wealthy, if you lose you will become wise
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herbie
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Rufus
24 Mar 2017, 08:03 PM
I don't take any notice of idiots like you Chris,

Cheers
Nasty bitter twisted little f*** ain't he? - Oh well, maybes he just had a bad childhood I 'spose ... LOL
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Steve99
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hidflect
24 Mar 2017, 12:56 AM
Lord Shabitat is a wealthy person who owns many multiple properties. Generally these people start from pre-existing family wealth and, lacking business nouse, do nothing more than establish themselves as rent-seeking economy extractors. What p1sses me off is how they sell this as the most brilliant maneuver ever conceived and urge everyone else to do as they do which will help him enrich his own position by encouraging demand but actually brings beggaring poverty to many believers who lack the capital to simply start with multiple properties. He can't help it. His self-validation is intricately bound to the need to be a Business Guru rather than just a simple extractor of other people's income by an act of exclusion to access of land.
Sounds a bit like that C-word running the US now
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Rufus
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herbie
24 Mar 2017, 08:35 PM
Nasty bitter twisted little f*** ain't he? - Oh well, maybes he just had a bad childhood I 'spose ... LOL
I've been patient with him, but no more.
He oscillates between poisonous and nasty and I'm not attracted to either.
Take risks - if you win you will become wealthy, if you lose you will become wise
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