Hello, another new member

Discussion in 'Introductions' started by RealSprinter, 29th Dec, 2020.

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  1. RealSprinter

    RealSprinter Member

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    Hi

    being a member of a number of forums and seeing how many members you have I wonder who reads these?:)

    Anyway a short blurb about me. I mainly work overseas, this last time was mean to be three years but thanks to COVID etc will now be four. I own two properties at the moment. Did have a third but was a disastrous choice and having bailed out of it now looking to make a smarter choice next time.

    In any case on some forums I am the expert and try to help new people. Im hoping that favour will be returned here.;)

    Neil
     
  2. spoon

    spoon Well-Known Member

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    Welcome! So what happened to the third one exactly? Just curious.
     
  3. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Hi Neil
    Welcome to PC!!
    You are in the right place
     
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  4. RealSprinter

    RealSprinter Member

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    well long story short I was doing well with my first two and, for some reason, assumed that meant all i touched turned to gold. It was a few years ago and it seemed like property was just going to keep shooting up. Any way shortly after prices stalled and rents followed suit. Then started to decline. Then I separated from my partner and, rather than sell, decided to buy out her share. So now I owed more on it than it had ever been worth! I kept telling myself it would turn around and just wait it out. Rents plummeted and eventually I realised I couldnt afford the actual cash I was putting in to keep it going. So I sold out of it at a point it was worth $45000 less than I paid for it.

    Luckily the other two are still plugging away for me.

    So yes a prime example of chasing negative growth and negative yield. :( As Homer Simpson says "buy high sell low thats my motto". o_O
     
  5. spoon

    spoon Well-Known Member

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    Sorry to hear that and at least that's history. Just curious. Was the third one an apartment or a property in regionals or mining town? As most properties in capital cities would have done well or at least not going backward in value, much, anyway. I thought would be good lesson for me too. :)
     
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  6. skater

    skater Well-Known Member

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    Welcome! There's plenty to learn in this forum. Good luck.
     
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  7. RealSprinter

    RealSprinter Member

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    Its a unit. The other two were houses. Its was a newish high rise in an area that was otherwise low rise so had some distinction with views and fitout. As with all units though it doesnt take much to encourage a newer build. Suddenly your unit isnt that individual anymore.
     
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  8. datto

    datto Well-Known Member

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    Welcome Sprinter. Sorry to hear about that third property but good to hear the other IPs are doing well.
     
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  9. Gockie

    Gockie Life is good ☺️ Premium Member

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    Great! What are the other forums? Guessing you could be a runner with that forum name?
     
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  10. RealSprinter

    RealSprinter Member

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    I didnt mean property forums, mostly motorbikes, cars and home renovations. :)

    Im "Sprinter" on most from my motorbike racing, That was already taken here:(
     
  11. Gockie

    Gockie Life is good ☺️ Premium Member

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    Ok cool, was wondering what you have expertise in. :)
    Welcome :)
     
  12. RealSprinter

    RealSprinter Member

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    Yeah probably not a range of skills people here are looking for. Although I did work in a Bank for 21 years as well..
     
  13. spoon

    spoon Well-Known Member

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    There is a car thread on this forum too. And you might be surprised if you start talking about car/motorbike racing how many followers you generate: Let's talk cars... 2020 [Cars & Motorbikes]
     
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