Property Myths Busted

Yes, I emigrated from UK in 2008 and found myself selling at the bottom of GFC. One of the big selling points of my UK home was the garden. It looked great when I put the property on the market in August at £300K but with no bites and winter approaching it looked less and less of an asset and so I decided to take the one and only offer on the table, £235K. The buyer sold five years later for £665K, having probably spent around £60K on the place. On the plus side, I moved the sale proceeds across here at around $2.25:£1 and then watched the rate progressively fall to a low of about $1.40. So, yes, distressed seller + somewhat brave purchaser = super return.

 

Buy at 200k

5 years later rent is 3k p/w

78% rental yield

Yup they are good for cash flow.

This is what I was alluding to with the post every 'myth' can be debunked with a different set of scenarios.

Would I buy mining properties no but some people have made a lot of very good money from them.

 

Your fixed quote for the works is X amount.

(inserting a hysterically laughing icon)

 

* conditions apply

 

aka, expect to get ****** at some point.

 

OH THAT WAS PLUS GST

 

Exactly my view and why I keep banging on Timing the Market is everything, not time in the market.. no BS

 

Bump

time to bring this one back

 

Rising now. 2020
18%

 

Next 2 years will be huge....it is just ridiculously cheap.

Even the APRA DTIs and rates going up 1% will not do much till Perth's median hits 750kbplis.

 

Yes

also rents are tight/rising in many markets, in particular houses

I recall rents falling 25% in Perth’s downturn. Scary stuff

Melb currently cheapest State to rent, what does this tell you????

 

Not Geelong rents there are knuts. Melb has dropped so has Sydney

 

i am talking metro/inner city

apartments/town house oversupply of rentals

 

Yes true ..but even there some low rise units getting good sales. Rent is down but places like Richmond still food

 

Well, Sash polished the crystal ball on that one. His Sydney one is broken

When this thread was going on I would have liked to have bought there, anyways, cannot do anything for a while it seems.

How is the iron ore likely to impact, it has to have an effect on the state as a whole & the country....

 

Are you a sash doppleganger...its the invasion of the body snatchers..??

 

Yeah apparently that bloke has moved onto buying Ocean front properties in Arizona for 30k...making @MTR deals in Atlanta look like chump chain.

 

Let me polish my crystal ball…..

anyone hold mining shares I guess will be feeling the pain

We have other stuff happening in WA. We are coming back baby

As far as property goes …..we are lowest median in Oz, I see value here. Seems many ES seeing same and jumping in

l am very bullish….. lets see over next 18 months if I got it right

 

You'd better be! I am following your path like a sheep to its shepherd.

 

You wlong....nutin to see...move along.