NSW Sydney Price Correction 2018 - post examples

You could be right on everything in the world, you could have more money than anyone on this forum, but measuring "dicks" is not a sign of any intellect.

I am very bullish on NW Sydney and just yesterday made an offer on a 2.4 acre R3 site at half its value of 15 months ago. But despite those that say they wouldn't try catching a falling knife, I think great RE wealth is set up in difficult times by the purchases to be enjoyed in the sale.

After 39 years of working in and investing in RE, I dont believe that one person can accurately predict every movement in a future market. All we can do is draw large brush strokes and be quick to act as we see changes.

Remember that every person that has won a lottery has thought "One day Im going to win the lottery" This does not make them more or less a lottery expert than those that thought it and have not won.

Enjoy your bragging rights, dont criticise others, and get out there and invest soundly, without trying to predict the future. Because one day you will be right, no matter what you predict.

 

Lets look at the facts shall we for the Western Sydney Airport ..shall we:

1. He is the details on the airport. Western Sydney Airport Note that any reference to it being a major tourist hub is absent. At best it will be very similar to Avalon near Geelong and mostly for discount carriers and cargo planes. Give the budget no way you can build something like Kingsford Smith.

2. You are in mid thirties...so based on your claims....you would be about my age by the time you realise the profits. The last boom ended in 2003...and the current boom peaked in 2017. So based on that ....it would but you near 50. Time in the market son......not speculation. To think the market would move another 50% in the next 5-6 years is being naive.

3. Probably the most important thing you are forgetting....which experience investors understand is that the market in Sydney has cycles. ....10 plus years is a very long time.....you are assuming assets in Western Sydney won't drop.....so you could potentially buy for less than what the assets were bought for if a major down turn happens......

Somethung to think about....also if you can't learn on this forum should't you be a zillionaire on the front page of the Financial Review?

 

I told you long time ago I was invited to do a article for a real estate magazine but declined after having a chat to some of my trusted advisers and friends. Don't want the public attention on me. What for? I rather stay anonymous.

I agree. This is a online forum where we can have a bit of fun so I do so. Look its quite simple I didn't get here to my position without having any kind of smarts. I think we all know that.

At the end of the day what is the end goal for property investment? Money and Freedom right? I think so. It is for me.

So, what is the ultimate measure of success? Think about it and we can discuss when I get back on my holidays in Mid Feb. For me I look up to people who have already made it and give me advice on what I am doing right or wrong. I dont care for people who are still in the game "trying" to make it and by the time they do well the are already well into their 50s or 60s. That is not what I am trying to achieve. I want to be fully retired before 40. I think I could probably retire now but choose not to as it would be bad for my health.

Anyway, I'm off on my Asian holiday tour flying out this arvo so have a merry Xmas everyone, stay safe and make sure 2019 is the year of prosperity for all. I hope everyone makes millions. See you's all mid feb.

 

A complete pr*ck, and I'm afraid you can't cure that.

I started with nothing, and I've still got still got most of it!

On the other hand I was also a millionaire in my thirties, things change, sometime tragedies happen. When I was making my money in the square mile I was surrounded by arrogant knobs with flash watches. Due to illness and tragedy my life is no cakewalk now, but boy am I glad not to be still drinking with those guys!

 

Haha. Thanks for the laugh.

Sorry to hear about your troubles, they seem to pile up as we go along. Hopefully they help us have compassion.

 

Harry Oskar Triguboff AO, is a Chinese-born Australian billionaire real estate developer, and one of Australia's richest people. He is the founder and managing director of Meriton and is known as "high-rise Harry".Wikipedia
Born: 3 March 1933 (age 85 years)

you still have at least 25 years to go @sash

i hope i still have the passion for this business when i'm 85

 

Agreed to be so sharp at 85 is awesome ...he is still doing deals

 

Back on topic:

50A Bridge Street, Lane Cove, NSW 2066

Sold for 1440 at the peak, Jun 2017, 5 bidders at the time. Back on the market and when I talked to agent, vendor would be happy with 1.0 - 1.1 depending on contract conditions. Auction obviously failed, no bidders registered.

IMHO given the shape of the block, bush protection zone in a back, gum tree in a front, I can't even put a price on it at which it will clear. It seems like a perfect example of bubble insanity.

 

Sorry I am new to this. Why is the bush protection zone, gum tree a problem? Other than you can build anything

 

Cause you won't get the DA approved if building envelope violates the restrictions, so more time & hassle to try to vary the restrictions and so on. And gum trees are more likely to be protected by preservation/protection orders and again more likely to be PITA to deal with. It's much easier to deal with non native tree species.



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