Don't Buy Property in 2019

MUES is only house ,if buy for 1 mil {is only example } this house and a few years later is 300000
you will be kicking yourself in the bum ,good luck with your decision

 

Hope so - settlement 15/3/19

 

melbs.

 

I'm ready to buy a ppor, cash, in Melbs too. If the right place at the right price came up I'd snag it now. Gut says prices have a ways to fall though, so I will be picky as hell and hopefully not have to pull the trigger for 6-18 months.

 

I will be looking at inner Melb suburbs but still waiting

 

The key in my opinion is - can you locate a high quality asset with a flaw that allows you to get a good price, but can be fixed long term.

Example. Is it ugly but a cheap Reno would make it livable, but near trains shops and schools?
This will get rid of the limited buyer pool and enable you to attack the vendor. It’s slightly easier for me being in Melbs when you are in Perth. But I am tracking some places on the maket months already that I think could be renovated from b grade to a grade due to their size, location on the block, suburb profile.

Find one, and get it at a mean discount from a vendor who can’t move it, and upgrade over time. That’s my plan.

As it stands there are places at 1.3 mil 12 months ago going for 1.2 now, but others you could get for 1.1 easily as they have a flaw that puts young families off.

That’s my wheel house. I got my blue chip townhouse in Carlton area a decade back doing this after it had been passed in at auction and sat around for 4-5 months.

 

Can you share it on PC

 

Not me as the end of the world is nigh!!!

 

I'm preparing for the "per capita recession"

 

How did you get that photo of me in my underground pantry?

 

Vendor due diligence .

 

If I buy a house for 1mil and in 2 years it’s 300k I think we will have bigger problems than my one house. Probably in the nature of 40% unemployment and a Great Depression.

 

Pretty much. At that stage we are roaming the land in search of water, wearing spiked shoulder pads and eating babies.

 

Adelaide again??

 

Isn’t that a buyers agent?

 

Yup Thoughts on Floor Plan Change & Budget

 

Great time to buy in some markets in Brisbane/Moreton Bay/Redlands, just bought an IP in Thorneside, under land value, with an upside. Could also be a good time to upgrade. Wouldn't touch Sydney or Melbourne.

 

Per capita recession is already here I’m afraid.

 

Under land value is always good.. seeing more and more of those in Sydney...
Why do you prefer Brisbane over Sydney?

 

Also have properties in Sydney, I am originally from Sydney. I think Sydney has a little way to fall, looking at Sydney next year, but if you can buy under land value in Sydney- well that is a good buy. Sydney is just too expensive to get into for the strategy that I use, the returns for me just aren't there as I am semi-retired and am not using finance.