The point of the post is to show the futility of looking to invest in a market with to much competition "a hot market". Like going to a brothel when the American fleet is in town, you have to pay more and everything is fucked. I always look to markets where the fools are running away.
Very good point. If the REA is not prepared to schedule time to put together a group of places and give you private showings, then the market is not right. I don't do open houses.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
1. She may have a great deal of resources invested in her residence but how much of her overall resources are invested in it? My guess is that it is a small %.
2. You are not the Queen, and neither am I. Why are you making comparisons to the super wealthy that have the luxury of being able to allocate their capital wherever they see fit?
You can do what you like with your resources, and I do the same with mine. I accept that everyone is different, and I accept that what I am happy to live in, others may not be happy with (I see this as being positive for me as I have to spend less to receive the same outcome in personal satisfaction).
I just didn't like the way you spoke as if you had all the answers or something and blatantly called all property investors idiots. You then changed it to all residential property investors (even though you invest in the much riskier "commercial" sector).
There are many reasons one may choose residential over commercial:
- you can leverage residential better and generally don't need as much cash upfront to get in. - lower vacancy rates and thus less risk attached. - lower interest rates. - generally easier to sell. - the returns really aren't much better than residential in most cases anyway (if you look in the right places for residential).
Well put, my statements are like an opening gambit in a game of chess, unlike most of you i am prepared to make the moves and lose the game as long as intelligent debate is encouraged.I don not have to be right if you can demonstrate an alternate position. Thats i hope what a forum is for. You have put forward a valid point, why rent out a commercial property. Interesting. I will think about this. Regarding the super wealthy, can i not taste caviar, can i not smoke a Montecristo number 2?? Forgive me for asking a personal question, is your wife happy with the house you live in?? (my wife is not happy with our house by the way, although when asked if she would like to move it's like she has huge electromagnets on her feet on a battleships deck) As for not liking the way i speak, Socrates was ordered to drink poison, he had broken no law. Not all property investors, just ones that use their money to supply a house for someone else to live in, please i just do not get that. Go to a cafe and buy coffee for someone else??? You don't know??? I do have trouble with this concept. Yes i concede that houses are a stepping stone. My mom and dad bought and sold over 120 houses over their life times. And i regret that they did not keep some. But they did keep some other property and it has enabled me to live without working for 30 years. Modestly i must add. Peter It's raining in Gnarabup :pop:
Well put, my statements are like an opening gambit in a game of chess, unlike most of you i am prepared to make the moves and lose the game as long as intelligent debate is encouraged.I don not have to be right if you can demonstrate an alternate position. Thats i hope what a forum is for. You have put forward a valid point, why rent out a commercial property. Interesting. I will think about this. Regarding the super wealthy, can i not taste caviar, can i not smoke a Montecristo number 2?? Forgive me for asking a personal question, is your wife happy with the house you live in?? (my wife is not happy with our house by the way, although when asked if she would like to move it's like she has huge electromagnets on her feet on a battleships deck) As for not liking the way i speak, Socrates was ordered to drink poison, he had broken no law. Not all property investors, just ones that use their money to supply a house for someone else to live in, please i just do not get that. Go to a cafe and buy coffee for someone else??? You don't know??? I do have trouble with this concept. Yes i concede that houses are a stepping stone. My mom and dad bought and sold over 120 houses over their life times. And i regret that they did not keep some. But they did keep some other property and it has enabled me to live without working for 30 years. Modestly i must add. Peter It's raining in Gnarabup :pop:
My g/f is very happy with the house. It is actually more than we want/need. We are happy to stay in the cabin in the backyard and rent all the rooms out as we are minimalists anyway. This is something we may do in the future. My house is positively geared so I wouldn't be paying for someone to live in it This is what I mean by needing to spend less to achieve the same level of personal satisfaction as the next person might, and that's a positive personality trait as far as I am concerned as it is easier to be happy with what you have than it is to make enough to satisfy over the top expectations.
You haven't had to work for 30 years and your wife still isn't satisfied? That's abit of a worry... be happy with what you got I say...
foxbat101
31 Aug 2013, 11:02 PM
Not all property investors, just ones that use their money to supply a house for someone else to live in, please i just do not get that. Go to a cafe and buy coffee for someone else??? You don't know??? I do have trouble with this concept.
Everyone knows what negative gearing is...
I am not sure why you feel the need to make a point about people that choose to engage in this type of investment. If it works for them (or even if it doesn't) and they are happy to do it, then who cares?
The fact of the matter is that nobody can say with certainty that a negatively geared property will not turn a profit, you cannot predict the future, so if that's their gig, then good for them.
We don't need to go over why people choose to invest in negatively geared property. Millionaires have been made using this investment strategy and if overseas price/income ratios are anything to go by, we still have alot of scope for price rises in the mid-long term.
Anyways, I must be off now. Gotta pack my bags as I am headed to Sydney first thing 2M morning for Fathers Day then racing off to the airport to head o/s and let the good times roll.
My g/f is very happy with the house. It is actually more than we want/need. We are happy to stay in the cabin in the backyard and rent all the rooms out as we are minimalists anyway. This is something we may do in the future. My house is positively geared so I wouldn't be paying for someone to live in it This is what I mean by needing to spend less to achieve the same level of personal satisfaction as the next person might, and that's a positive personality trait as far as I am concerned as it is easier to be happy with what you have than it is to make enough to satisfy over the top expectations.
You haven't had to work for 30 years and your wife still isn't satisfied? That's abit of a worry... be happy with what you got I say... Everyone knows what negative gearing is...
I am not sure why you feel the need to make a point about people that choose to engage in this type of investment. If it works for them (or even if it doesn't) and they are happy to do it, then who cares?
The fact of the matter is that nobody can say with certainty that a negatively geared property will not turn a profit, you cannot predict the future, so if that's their gig, then good for them.
We don't need to go over why people choose to invest in negatively geared property. Millionaires have been made using this investment strategy and if overseas price/income ratios are anything to go by, we still have alot of scope for price rises in the mid-long term.
Anyways, I must be off now. Gotta pack my bags as I am headed to Sydney first thing 2M morning for Fathers Day then racing off to the airport to head o/s and let the good times roll.
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This is what I mean by needing to spend less to achieve the same level of personal satisfaction as the next person might, and that's a positive personality trait as far as I am concerned as it is easier to be happy with what you have than it is to make enough to satisfy over the top expectations.
