I've grown up my whole life hearing that property only goes up!

Discussion in 'Property Market Economics' started by Safe As Houses, 29th Oct, 2018.

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  1. larrylarry

    larrylarry Well-Known Member

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    True that.
     
  2. Handyandy

    Handyandy Well-Known Member

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    Many shared experience (spiritually) with you story.

    We had one unit where there cockroaches were in plague proportion. Tenant had done nothing about spraying or other deterrents whilst they were in place. We sprayed the unit with the strongest chemical I could find and bombed it for good measure on the way out. Left it for about 4 days and be it there were many dead they were still there and multiplying. Turns out the block of units had a roach problem and they were simply migrating between units. We had to no more gap every little hole to stop them. Finally worked but took two weeks.

    Another time I was repairing a stove and had to battle the roaches to access the wiring. They were just everywhere in the actual stove. Couldn't spray the stove as tenant was right there in still in place. Again tenant refused to do anything about the roaches and it is the tenants that bring them in when they bring back their fruit and veg from the local stores.
     
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  3. kierank

    kierank Well-Known Member

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    I grew up hearing nothing about property and, after 62 years, still know nothing :eek:.

    I just used luck :D.
     
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  4. The Y-man

    The Y-man Moderator Staff Member

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    Many people can't - because you need to refinance to get that extension, and with the tighter lending criteria. This is the main crux of the argument for the IO/PI crisis

    The Y-man
     
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  5. skater

    skater Well-Known Member

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    Same!
     
  6. willair

    willair Well-Known Member Premium Member

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    Most would have started that way,myself I started looking over the shoulders of more experienced property investors and being a activity that requires not only knowledge and let the trend identify itself,,..And it also help to marry the right person that understands failure..

    This is always a good time oy year for me,i started investing in property on Melbourne cup day 1983 --that 4k I invested that day have turned into a number that I never thought was possible..
     
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  7. jsoe000

    jsoe000 Well-Known Member

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    Exactly my point here. Refinancing used to be an option. Not anymore.
    And it’s my personal choice of not paying down IPs and we already have 50% equity in them and it’s quite enough. I need to make my offset money work hard somewhere else and not go towards the bank. Not all eggs in one basket. Just my personal choice.
    I will now check out “other investment” posts in the forum.
     
    Last edited: 2nd Nov, 2018
  8. jsoe000

    jsoe000 Well-Known Member

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    About the original post....
    Probably it’s a teenager who’s still trying to learn to invest. If that’s the case, good in ya for starting young. Important to have an open mind, some opinion and let yourself grow. No one is born a “know it all”!
    They’ll learn in their own time. Just don’t give up exploring and venturing out. Keep learning, make some mistakes, get back up and keep growing.
     
  9. Sackie

    Sackie Well-Known Member

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    I grew up only hearing from my teachers on Parent/Teacher night what a disaster I was in the class. Distracting, playing around, poor concentration, and the recurring theme from my maths teachers "your son doesn't apply himself".


    I currently have 2 rentals being let to teachers. ;)
     
  10. skater

    skater Well-Known Member

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    Clearly you did apply yourself....just not in the way they wanted.
     
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  11. larrylarry

    larrylarry Well-Known Member

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    Yes I think I agree with your own description.
     
  12. Lizzie

    Lizzie Well-Known Member

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    By crikey I hope so - if only I knew what I now now even a mere 20 years ago - we'd be multiples of millions better off
     
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  13. kierank

    kierank Well-Known Member

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    You haven’t changed at all since leaving school :D.

    Some might say you have gotten worse :eek:.
     
  14. Sackie

    Sackie Well-Known Member

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    :mad::mad:

    Just you wait. .. (evil eye)
     
    Last edited: 2nd Nov, 2018
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  15. Lizzie

    Lizzie Well-Known Member

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    Is that a Chinese Burn threat - or Ninja Slap - or Branding Ball ...
     
  16. Angel

    Angel Well-Known Member

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    Poor Lizzie - regularly gets lucky and paints the lounge room during the heat of summer.
     
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  17. Angel

    Angel Well-Known Member

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    These P&I payments are serving us well. We are down to 60% lvr this week.
     
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  18. Phar Lap

    Phar Lap Well-Known Member

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    Me too then !
     
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  19. Phar Lap

    Phar Lap Well-Known Member

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    well, Somerset and Jan Somers books educated me majorly. Is that a word?
     
  20. skater

    skater Well-Known Member

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    Nope! It's all just luck! What I mean to say, it was just luck that you found the forum, & more luck that you followed through.
     
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