Expert Bust #26 Investment grade props

The whole point of my post was to highlight that investors should NOT discredit lower socio-economic areas for investment potential. And once again, I grew up in Mount Druitt and my parents still live there.

I'm not a BA. I got into property investment research after building a portfolio of 16 properties. I lived it, bought it, sold it. But even if I was some university kid with no investment experience, that doesn't invalidate the data.

Yes, there's an interpretation/opinion regarding the data. But at least the data is consulted.

There's no way an individual can get to thousands of auctions and open inspections every weekend across the country. Humans can't process millions of data points. And they process with bias too. Analysis of big data has some extremely powerful advantages over personal experience.

I do value personal experience, if the individual has a track record of success. But even then, algorithms are already beating the pants off the experts.

 

Out of curiousity have you checked Rp data on them and is it accurate?

Mine are not, and if they ain't there's a good chance others are wrong. All of which is not reflected in the data.
Add to that what isn't normally included such as improvements and renos.

 

Yes, there's almost never a case where the median can be a true reflection of the real value of typical properties in a suburb. That's why we examine thousands of suburbs over decades, looking for a general rule or pattern to emerge in the data among all the noise.

The pattern I've noticed is that suburbs have a spurt of growth and get ahead of the pack, only to be caught up by the others over the long-term. That's why affluent areas are no better a choice for investors pursuing growth than cheaper areas.

 

Bully for you. That still does not give you a free pass to stigmatise everyone who lives in an area does it?

You say that as if you deserve a badge of honour. So, you went out & bought 16 properties & THEN decided to do some research?

 

Def Continue please - I might have disagreed with some of your posts in the myth-busting series but I really admire the thought and effort you put in your posts and the value it brings to the forum. Not everyone is going to agree and it would be awfully boring if they all did.

Those who have 'lived experiences' that might run contrary to your data might disagree the loudest! But then again, we can fight and go contrary all we want with a personal experience that directly conflicts your data but that would be an 'outlier' rather than a norm. I have a lot of respect for data so please keep sharing!

 

Please continue. I enjoy reading your posts

 

You make a good point! 'Bogans' indeed are fair game but all hell breaks loose if any other minority group is 'labelled' with a funny (derogatory) stereotype! Could perhaps be that it's a term used as much for endearment as it is for ridicule. Don't want to derail the thread but it also occasionally gets my goat too...

 

A nice hedge with some flowers would be spot on as then you can say g'day to neighbor's and watch over the community, multi-tasking like a BOSS!

Big value add for sure!

 

Piston Broke questioned my experience. I responded.

I never called anyone from Mount Druitt a bogan.

My post actually DE-stigmatises Mount Druitt, from an investment perspective.

But as Taylor Swift sang it, "haters gonna hate".

This is a forum for property. Anything insightful you'd like to contribute?

 

Quite aptly really. Tells a lot about you. You bought a handful of properties & THEN thought "I'll do some research now'.

Oh, right, so I misread where you said 1000 bogans buying dog-boxes in Mt Druitt?

As an investment, sure....but what about the PEOPLE that live there. If you can't see the difference, you really do have a problem.

 

I researched before I bought my properties and then went on to a professional career in property research.

 

Yes, you did misread. I never said that.

 

We all have problems.

 

Your words, not mine.

OK, you didn't specify Mt Druitt in that sentence, but since the subject WAS Mt Druitt it was implied.

 

Again.....your words, not mine.

 

That's right, I didn't specify Mount Druitt. You implied Mount Druitt, perhaps you have some prejudice.

 

I'm missing your hate-point here. Yes, I did some research before I bought my properties. And yes I moved into professional research after that. It's like making a coffee for yourself before opening a cafe. I'm missing the crime you seem to be implying.

You sound desperate to find fault. It might be deemed as trolling. How about providing some useful insight for property investors instead.

 

Nope! YOU were comparing Mt Druitt to Cottesloe, not me. There were no other suburbs mentioned. Pretty clear to anybody what your intent was.

 

How about you think about the words you use when you post.

Your exact words were.

You did not say 'I researched property investment, bought properties & then did more research'. Your words are there in black & white. No two ways about it.

Also people won't be offended by your words if you don't use the words that offend people.

You seem to find it hard to admit that you are not always right. Not that hard.

 

My intent was indeed obvious, to compare 2 suburbs: one clearly classed as investment grade by the experts and the other the polar opposite.

I don't believe bogans are low-life, so I don't find the term offensive. But I accept others might, so my apologies to you.