Metropole/Momentum Wealth/Binvested

Agreed. There is always way to make money even in a statistically flat market because it is merely statistics which are poor judges of individual performance.

 

Love it. Hope you don't mind if I steal it from you

 

@Westminster i can't wait to get into the Perth market from a development perspective. I'll be knocking on your door then without a doubt. Looking at around another 6 months before i seriously look into it

 

Parts of Sydney were pretty flat for around 8-10 years from 2002 -2012 . After the boom in the last 3 years , I'm not expecting Sydney to do well over the next ten years . There will be some areas that will do ok , but I don't expect Liverpool or Mt Druitt to be in that group .

Cliff

 

I agree not all of Sydney will do well over the next 10 years but I think it's likely that some areas will still offer opportunity to be grabbed.

 

I read somewhere that Sydney was playing catchup to the growth that occurred in the capital cities of many other states...
But... yes... Some areas will fair better than others over the next few years.

 

There are opportunities to be grabbed in many places, including in the (as some would see it) middle of nowhere. Depends on the numbers, as ever. So in that sense if Sydney isn't booming then you may be paying over the odds and needing to work harder for any future profit. Everyone has their own preferred strategy though and some will always stick to Sydney because it's a capital/international city or because it's their own back yard and therefore more familiar or easier to manage.

 

@ellejay agree with you. And for the record I am definetly big on state diversification.

 

No problem Leo, I was just commenting but definitely not stalking you in a weird "give me the stats you loser or I'll boil your bunny" type way

 

Hehe no worries. In all honesty if I was affected everytime someone attacked me i would have closed up shop long ago.

 

True, but do you have a pet rabbit? I'd be keeping a close eye

 

I was watching this market all this year, at around mid year prices were rising quick and was too competitive, lending changes stopped the drunken party.

I just did a search on recent sales of the same types of property and locations I was looking at & can tell you they are holding and some maybe slight growth, but basically the same pricing since lending changes, I have been waiting for a drop, it will come next year probably, or flat at best, your not going to get 5% rises, otherwise the prior trend would have continued.

If you really hunt, you may find a good buy, as have seen a couple, but do not expect growth just at the moment.

 

That's confirmed what I thought and have seen. Thanks for the reply. Going to source some better interstate deals and then come back to the area in 12 months

 

when I done my session , I found daniel honest , straight out but not rude or be littled me I was/ am a crappy situation he gave me advise on how to build a portfolio and save a few bucks along the way which worked so their services were useful to me . I have found though with out money ready to go you get a little left in the air I have tried to contact a few times and haven't had responses . but then again there so busy I no that , I do feel if I had 150k they would be more egar to talk with me

 

Mate they just tell you generic crap they recite to everyone.

It is easy to educate someone with minimal to no property knowledge when you exude some confidence and show off your portfolio.

There is no value in the info they give to you and nothing you couldn't find out yourself from reading a book or 2.
People are lazy and want a get rich quick solution like every other thing in their lives, fast and cheap without putting in the hard work.

$10k BA fee for a place that costs 200k? That's more than the stamps.

Give a man a fish he eats for a day, teach a man to fish......
Same principle applies with these guys..
There are always lazy people who are wood ducks, seen a few articles and are wowed by Daniels and Nathan's portfolio's - greed factor kicks in, they buy what they are told to buy and thy end up with mediocre portfolios.

Of course they want to sell you 2 $200k properties @ $10k each rather than 1 $400k property..
That business model says all it needs I for me. These guys play the investor Binvested community card but they are exploiting clients.

 

Yes true this is what happened to me. And to make it worse I seen properties in the same complex for the same price I paid. So nothing under market value like they claim. Despite this I am really happy with one of the properties I purchased through them. $210k rents $325 per week with lowish strata for Qld $600per quarter. On the other hand the other property is crap as the strata is way to high over $1000 per quarter. And the onsite management is to expensive. Maybe this property will have some cg although I haven't seen anything yet. (8 months) their broker is really good tho and how they educated me to structure the finance has really helped to this day. For me I was really time poor due to work and wouldn't of known where to start flying to Qld and looking at properties. 2015 for me ment 1 week off could be 5k lost income so that's how I justified it. So if it wasn't them taking my money it would of been someone else.

 

Could have been one of the better BA that the members on this forum recommend.
Just a thought.
If you are on that type of coin then you could have prob afforded a better quality property closer to cbd too.
You have taken action in any case which is positive!
On to the next one!!!'

 

Hey terry, can you please explain to borrow to pay loans ? Are you meaning for further deposits on houses ? And if you live off rents you will pay a lot more tax won't you ?

 

Yeah I wasn't tuned in to this forum back then although I should of been. Defiantly not getting that coin consistently just most of 2015 was a boom for my business. Your right I wish I'd had picked a more reputable BA. Lesson learnt.

 

With property time USUALLY heals all so don't worry. (Doesn't take into account opportunity cost of buying elsewhere instead). Just be patient if you don't see cg. I doubt that there are many investors that have not had a school of hard knock lesion in their time.