To buy or rent (forever)???

Discussion in 'Investment Strategy' started by Taku Ekanayake, 6th Sep, 2015.

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  1. Phantom

    Phantom Well-Known Member

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    Hey Sash, when you gonna officially start mentoring? Come on rasta...:p:p:p
     
    Phantom, 10th Sep, 2015
    #101
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  2. Sackie

    Sackie Well-Known Member

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    SashOfCash Investment Consulting
     
    Sackie, 10th Sep, 2015
    #102
  3. Phantom

    Phantom Well-Known Member

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    SashofCash-The Jamaican Money Man
     
    Phantom, 10th Sep, 2015
    #103
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  4. sash

    sash Well-Known Member

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    Boys...I don't need anymore competition....Brissie getting to be ridiculous. ;):p:D

    To top it off...my friend secured a bargain a couple of days ago ....a house in very good condition for $285k. Bloody hell his went through...and I am getting buckleys at the moment......:oops:

    Will make an offer for another one....hoping $295k will buy it!

     
    sash, 10th Sep, 2015
    #104
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  5. Sackie

    Sackie Well-Known Member

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    I guess there is no chance of telling the area.....:oops:
     
    Sackie, 10th Sep, 2015
    #105
  6. HUGH72

    HUGH72 Well-Known Member

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    My bet would be its in the outer northern suburbs
     
    HUGH72, 10th Sep, 2015
    #106
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  7. Sackie

    Sackie Well-Known Member

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    I'm sure @sash will tell us he is a gentleman...:D
     
    Sackie, 10th Sep, 2015
    #107
  8. Phantom

    Phantom Well-Known Member

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    Knowing he isn't into Logan, south is out of question. So north it is...how about Strathpine?
     
    Phantom, 10th Sep, 2015
    #108
  9. sash

    sash Well-Known Member

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    With the luck I am having lately....it is hard going....how about you blokes give me a lead...PM...don't tell the whole world...have you guys had any luck around Brissie..looks like the whole place has lit up....:p

     
    sash, 10th Sep, 2015
    #109
  10. Sackie

    Sackie Well-Known Member

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    Its funny.. I had the same feeling and found it quite competitive in the 10km region when I was buying last year.... so I can only imagine now it must be kinda nuts....I don't envy your challenge ahead..:D
     
    Sackie, 10th Sep, 2015
    #110
  11. HUGH72

    HUGH72 Well-Known Member

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    Sorry, I don't have any leads. I'm just waiting for more of this anecdotal evidence to turn into decent cg gains:).
     
    HUGH72, 10th Sep, 2015
    #111
  12. D.T.

    D.T. Specialist Property Manager Business Member

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    Its Adelaide but has too much pride to say so :)
     
    D.T., 10th Sep, 2015
    #112
  13. HD_ACE

    HD_ACE Game-Changer

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    Basically It is a strategy to get ahead. Once the balls in motion ( ie No of properties on the board, certain income etc) then for Lifestyle/family reasons a ppor will be on the cards. Obviously look to buy well and add value and at the end of the day it is still an asset that can increase your wealth over time.
     
    HD_ACE, 14th Sep, 2015
    #113
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  14. HD_ACE

    HD_ACE Game-Changer

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    I get to work with alot of different people every swing pretty much. I will share this little ripper.

    A guy, early 40's from sydney working in WA. An add comes on the radio about depreciation. He turns to me and says his accountant is awesome because hes on top of all this sort of thing to get lots of tax back. He then says, I had to sell both of my properties last year though because they became positive and I would have to pay more tax. I looked at him for about 10 seconds until i realised he wasn't joking and I just walked off.

    Incredible. 2 x properties in Sydney in 2013. Would be sitting pretty now. Just the mentality of a lot of people.
     
    HD_ACE, 14th Sep, 2015
    #114
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  15. WattleIdo

    WattleIdo midas touch

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    That's sad.
    Come to think of it a financial advisor told me to do that in 2013 too. Fortunately I was able to tell him that that kind of advice was probably why he wasn't getting more business. Sad and bad.
     
    WattleIdo, 14th Sep, 2015
    #115
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  16. HD_ACE

    HD_ACE Game-Changer

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    Thanks for the number example.
    The way I see it This scenario should be utilised to get ahead from day 1, you invest the difference in money saved and use the increase in serviceability to invest further.

    If the renter blows the money (like most do) then they would be far better off buying as they would have at least 1 asset. If by renting, this means you can acquire an extra 2 or 3 properties over the term to multiply your wealth then this is by far an advantage over the long term.
     
    HD_ACE, 14th Sep, 2015
    #116
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  17. Sackie

    Sackie Well-Known Member

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    Yeah its insane. You can tell straight away they have absolutely no clue about investing. What's even sadder is that your story is not an isolated incident by any means. ...
     
    Sackie, 14th Sep, 2015
    #117
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  18. Bayview

    Bayview Well-Known Member

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    This is when you need to have one of those signs with a stick attached, that you can hold up in front of your face towards the person who makes the dumb comment,

    And it looks like this: o_O

    :p
     
    Last edited: 16th Sep, 2015
    Bayview, 16th Sep, 2015
    #118
  19. Sackie

    Sackie Well-Known Member

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    I know its shocking to most of us here but soooooo many folks out there have a warped understanding of property investment. Really nothing shocks me anymore. Not even buying in a high rise, NG, 14k strata a year as an investment.
     
    Sackie, 16th Sep, 2015
    #119
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  20. teg499

    teg499 Well-Known Member

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    It's actually not a bad thing.. More profitable for us:)

     
    teg499, 16th Sep, 2015
    #120
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