Time or Timing The Market

Well said mate. Glad to have you back

 

Not only prices but rents were hammered in the last Perth downturn. Imagine that with interest rates going up.

 

Perth 25% drop in rents, now fully recovered and tight, rents are rising fast in many suburbs

fast forward today, Melb has cheapest rents in oz, oversupply
now imagine when interest rates go up. Disaster as median of Melb is at $1M.

 

i have noticed get off your arse and do something for a change

 

I think finance is easier for most people who are buying their first or maybe 2nd property…..bc interest rates are super low.
However, myself with multiple properties and despite the large uptick in equity. …I still can’t get any new loans. In fact can’t even get a new credit card. So finance is definitely tougher for some.

 

.. and rely on dumb luck

 

because the criteria has tightened to service debt. I think banks now look at 5 x annual income/salary

It was prior to changes 12 x annual salary ??

Massive

 

As we are talking timing, how many completely ignored Canberra market???? Guilty

 

… and Tassie dependent on Tourism

Boom Cycles, got to love them

 

... and for those selling an IP to buy a PPOR. Investments are not looked upon as favourably.

 

I didn't really know when Brisbane was gonna 'run' but I knew when it was cheap.

 

No wonder I can’t borrow anything ! And prob shouldn’t even have the loans I currently have.

 

Sucks

 

I did. Also Tassy. But there are plenty of markets to do well in. If you can choose 2 or 3 markets and get home runs in em, that's more than enough to do very well.

 

New to the property game, but time in market! If your intention is to buy and hold long term. Leverage yourself as much as you can until your boxed in by all the lenders. Or you could buy 5 properties pre-covid. That works too .

 

I have been able to time the market a few times… but it has been luck. In saying that, to be in the position to be able to buy was not all luck- it took a lot of discipline and hard work.
Time in the market is very hard for me…. To do nothing but wait takes a lot of resilience.
Conclusion- hard work, determination, resilience is required for both strategies.

 

Never ever experienced that problem.

The only brake I have experienced is the wife. She doesn’t want want any more IPs - she does the bookwork and doesn’t want any more work as we are retired.

I do all the other work associated with our IPs (maintenance requests, rent reviews, …) plus I do all the work associated with our shares (the wife wouldn’t even know which shares we have). I enjoy it as I don’t see it as work.

Maybe I married the wrong woman?

 

As the one that pays the rates/strata bills, it can be depressing every 3rd month ... and don't talk to me about tax time!