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I bought a Brisbane home and regretted it - I was trapped in hell; What a sucker I had been, thinking that happiness lay in home ownership
Topic Started: 19 Aug 2013, 01:27 PM (29,796 Views)
skamy
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miw
20 Aug 2013, 11:35 PM
Rare footage of Catweasel preaching to the flock. Not White Shoe or Korean either.

Be jeesus --he sounds like he kissed the blarney stone
Bardon
21 Aug 2013, 01:17 AM
I don't suppose anyone has a photo of said frustrated house owner?

Here she is
But don't show her to Mel we don't want him getting into any more trouble with the boss.
Edited by skamy, 21 Aug 2013, 06:22 PM.
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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peter fraser
19 Aug 2013, 03:24 PM
I would buy that if it was priced well.

To hell with the ghosts.
It's the Keating House at Indooroopilly.

Thanks to a commenter on the APF Facebook Page for the discovery.

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Ned Flanders
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peter fraser
20 Aug 2013, 11:10 PM
In any house sale the price should be at market value, but it's not always so.
OK, so by 'market value', you do mean something other than what the buyer and seller agree to. Is this market value observable?
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One bed units in Brisbane are very good investments if you buy well positioned units for the right price. There are such units available.
I think I know what you mean by 'well positioned', presumably close to employment or economic opportunity. What is the 'right price'? Is this below 'market value' that you alluded to earlier?
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I would let agents manage property for me, but I wouldn't let a fund manager manage cash investments or shares for me. I know that it suits some people but I think that people should gain the skills to manage their own money. Of course exceptions do apply - eg lottery winners.
If you think you can beat the market, then the market wants you to play. Market movements are just noise, you buy an index and the shares are self selecting, as they drop in market value they drop out of the index. Picking shares is a mugs game (IMO), but there are plenty of 'investors' with survivor bias who would disagree.
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I think that property carries a lower risk profile than shares, and is not much riskier than cash over a period of 5 or 10 years or more. Inflation is the enemy of cash, but it can be a friend to property.
That's probably true historically. Hard to know if it will continue in the 21st century. There are some countries, cities in the developed world where it is already no longer true.
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Shares can be good, but if we are still talking about an investor who is not sharp, then the risk is quite high. It could still be managed if they had some training.
Again, why wouldn't they just buy an indexed fund? Is it the need for a 'big score', i.e. an adrenaline rush?
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Investment property is usually leveraged. That both increases the risk if values fall, but it magnifies the profits if values increase. It's just maths. If we use a 20% deposit and then over say 4 years we get a 20% nominal lift in values, then we haven't made a 20% nominal profit, we have made a 100% profit. Same applies in reverse.
The same is true of any leveraged investment.
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But if we bought 5 X $500K properties each with a 20% deposit, we would get a zero rent return over 4 years, but 100% on the stake of $500K to $1M in that time. That's $375K more profit by using leverage. If it went the other way our stake would be lost, but past history has favoured gains over time periods of some years.
If it goes against you, how easy is it to get out of the investment?
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The downside risk is in interest rates, the loss of a tenant, and competition for the best buys.
If the property remains untenanted for 10 years, does the math still work out the same?
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" ... which is that all-too-familiar dynamic in Irish life where people tell lies, cover them up and create all sorts of collateral damage, sometimes spread out over decades, and never take responsibility."
- Alan Glynn
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The importance of building inspections in property transactions

By Tim Mansfield
Monday, 21 May 2012

Whether you are buying or selling real estate the importance of property inspections is paramount in a smooth transaction.

Not being prepared can lead to last-minute disruptions in a sale or purchase and cause major headaches to all parties involved.

For a buyer, a pre-purchase building inspection report (whether it is for a house, a strata unit or a company title unit) is used to ensure that the property is in good condition and does not have any major defects that may affect the property’s value or cost money to rectify in the future.

For a seller, providing a pre-sale building report (including a pest report if necessary) is always a good idea. It demonstrates transparency and honesty on the seller’s behalf and means that prospective buyers don’t have to order and pay for one separately, often at the last minute. Some buyers may still wish to request an independent report, but that is their decision.

There have been cases where the seller has provided the report in the contract of sale as an annexure and included a condition that the cost of the report should be reimbursed by the purchaser. This seems a bit miserly to me. What the seller should do is concentrate on achieving a good sale price through a smooth exchange of contracts and write off the relatively low cost of a building report. The benefits of providing the report in advance far outweigh the outlay involved, so it should be included at no charge.

For buyers it is critically important that they request an inspection report (if one is not already available) as soon as possible once they are interested in a particular property. The process can take two to four days, during which a physical inspection or inspection of strata or company title records is finalised.

I have seen many cases where the successful purchasers of a hot property among several interested buyers were the ones who first obtained their inspection report. Once they were satisfied that the property had no major defects they took the plunge and exchanged contracts. It often comes down to a race between who gets the report first and is willing to go ahead, not who will pay the highest price.

Legislation in NSW provides a five-business-day cooling-off period from the time of exchange of contracts until the exchange becomes unconditional at 5pm on the fifth day. This short period can be used to obtain a building inspection report, but it is cutting it very short.

In the case of auction properties it is particularly important for buyers to have already ordered a building report they are happy with before they bid successfully on the day (or exchange contracts on the same day after it is passed in).

In summary:

Sellers should attach a current inspection report to the contract of sale (and provide it free of charge).

Buyers should be aware of the importance and urgency of obtaining or viewing an existing inspection report before purchasing a property by private treaty or at auction.

Read more: http://www.propertyobserver.com.au/residential/the-importance-of-building-inspections-in-property-transactions-tim-mansfield/2012052054762
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Billy Jack
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The Duke of Brisbane Town

Alex Barton
21 Aug 2013, 06:34 PM
Nice upkeep there. It does look ghetto. Frankly, living in the Ass end of Taringa aint for me, but I will say one thing:

Indooroopilly has one nice looking house like that.

Detroit has literally tens of thousands like that.

But here its "special".
Tell Billy Jack the Truth
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