NSW Watching the Druie Drop in Slow Motion (2018)

The work is in lining up, extracting from ATM as soon as it hits, finding a hit, and staying on it.....usually by being the biggest basket case so they just give in.

Or what many of them must do, is have Dr's who will put things on paper so they get other forms of payment.

While we joke, I saw a property investor recently who got busted taking govt payments too, must not have told them about the rent roll.

 

Also the only place I’ve heard a fire truck being pelted with rocks when responding...multiple times.

 

That is the real issue, it only takes a small % who are drugged up constantly, who will get physical over nothing, or who thieve, rape or assault on a whim etc.

It is very clear, not from just what we say, but what people will pay, to be in the better spots, or to be near a school, etc etc, pick the wrong place and it can literally become a nightmare, or even cost you your life.

Plenty of thugs carrying weapons and guns in many places, and they will use them, and they do not care about anyone.

 

At some point the interstate migration rate will ramp-up in force as people realize you can buy an inner city house for 700-800k in a city like Brisbane, close to jobs and with a better lifestyle then the outer-west of Sydney..

 

Glad to see you getting a bit of a taste of your own medicine. Now you know how I feel? You basically told me off when I posted about my experience and thoughts about Hobart. You do realise a lot of the place that you either bought or considered buying (in the Moonah and Glenorchy regions and I'm sure you may have bought a bit further like Claremont too) is pretty much identical to your experiences of Druitt right? It's funny how once you've experienced something negatively, you immediately go on the attack. Without living in Hobart you have no idea how tough a lot of the locals are doing and a majority of the people I know can only afford the >10-15km out from Hobart and if you ever been in the traffic here it's the third worse in the country and no toll system. You have no idea how lucky we are being in Sydney with the public transport so location is more important. The joke is that the locals rent from Sydney landlords because they can't afford to buy where they can live within commuting distance to work (CBD) or Uni (Sandy Bay) hence the low vacancy rate. Yes it's going through a boom but that's because it's similarly to the Sydney one where there is a lot of FOMO and where there is like two Sydney buyers to every one Tassie for every property. My closest friend who is a Dr had to purchase a PPOR unsighted in West Moonah as he kept getting piped by a Sydney investor.

Like you told me, don't based your investing decision on your experiences or emotions. I doubt whether you fully considered the attractiveness of Blacktown price point but when you think of any Sydney family who are desperately looking for a place with a bit of backyard (or not an apartment where you can get noise complaints from neighbours), close to train station, not too far from work or schools etc.

Tell me where else you can buy that's still affordable for a family that's not an apartment? Me and my wife will be having kids in the next couple of years and the only places we have looked are Auburn, Lakemba (TH), Campsie (TH), Dundas/Telopea and Blacktown. We are hopeful of further price reductions so we can get in closer but that's about our max (only if equity stays constant or increase in next couple of years). No doubt @eletronic_exp0430 and @skater probably the most successful there. @skater probably could had been more successful had she stayed but hey that's hindsight and still did really well there so kudos!

 

Dundas is getting very expensive, at least a million for a new duplex.

 

I am under the impression is those areas may have 99.99% well educated successful family oriented people

 

Spill over from Ermington. That whole area has exploded this boom cycle.

 

Now, yes.

 

yes. I was late for Ermington.

 

You should really read not come into a conversation when you don't know the whole context and start cherry picking things to suit your own agenda .

Unlike you bagging Hobart because you didn't like living there , I have NEVER said that Mt Druitt is a bad place to invest ( even though I know I wouldn't want to live there ) , though now is not a good time to buy there because the market it at it's peak.

I have always stressed that timing is the critical thing when it comes to investing . Now is not the time to invest in Mt Druitt , but IMHO it's a good time to invest in Hobart .n several a.

Purely due to timing issues I haven't bought in Mt Druitt , but given the right circumstances I would happily do so and have said so many times in the past

If you've read more of my comments about Tasmania I have said that Tassie " bogans " are in a league of there own and there are places I wouldn't buy in Tassie , Ravenswood and Gagebrook being top of the list .After all it was a Tasmanian who won the series Bogan hunters.

The reason for pointing out the issues in Mt Druitt was due to one poster implying that all the suburbs in that area are the same and they are not.

By the way , what's been said in this thread is nothing to what's been said to me in the past .

Lets see what happens to Hobart in the next years

My current advice to people in Sydney who are wanting to buy in Sydney is don't . We bought a sofa last night from someone who has just moved into a unit in Chatswood . The block was targetted to Chinese many of who have walked away leaving their deposit . Most units remain unsold and the developer is starting to rent them out . They were able to negotiate a good rent but they were offered a 20 % discount if they wanted to buy and this is a well located unit in Chatswood

Cliff

 

Huh? If I stayed? Not sure what you mean. I've still got IPs in the area.

 

Where else but Druitt do owners roll in new Camaros

Camaro | eBay

 

Wow. He's got 100% positive feed back on eBay! Must be new to the Druitt lol.

 

Oh? I remember you saying that you're taking profits now. In any case, if you have kept ALL your IPs there you would had done better but hey no one can predict that so I was saying you've done well and probably against the popular advice of buying as close as you can to CBDs! Well this was my thought for a couple years before learning from everyone on PC!

I don't have an agenda. Just saying that you should know how I felt in the Tassie thread when you guys talk as though living in Hobart is like heaven or something rather the actual content that's been said. The fact is most Tassie expats don't come back once they leave for obvious reason. THERE'S NOTHING TO DO IN TASSIE. All the stuff you hear are stuff you do as a tourist for maybe a week and then the mundane life of living there takes over. All the Tassie friends I have on facebook never post anything interesting (or anything at all) - it's because there isn't anything to do and thus not newsworthy. No music festivals, no events (music or sporting) except the same ones every year (falls, taste of tassie etc). I left because the life there is slowww..... and everyone and everything moves at a snail pace. Ask any PC members here whether they would in their right mind move to Tassie where the crude affordability level is only 4% lower than Sydney (21% vs 25% according to ABS). Tassie is going gangbusters because of the mix of interstate investors coupled with the low wage in Tassie which means that a lot of people can only afford to rent or buy up to around 400k (prime price range for investors) so competition is hot and that is also coupled with HCC being anti-development... If you read my post carefully you'll know that I never said it's bad to invest there - I was just saying that it's not a place that you'll want to live there so the interstate migration will always be low compared to the rest of Australia. It will also be the last to receive much funding for any major infrastructure and will be awhile for any HSR to connect to when it does finally start.

You're right about Mt Druitt not being the right time to invest and that's fine but you can't say people don't want to live there when it's the only affordable place to buy for now and I'm sure that's why the median is over 700k. I remember when I was selling H+L packages in Riverstone it was 620k for a 3/2/1 and a few months later it was 900k and it's median is now more than Mt Druitt probably due to the Norwest Rail. I heard that Riverstone is pretty bad too back then. It's good and all when you're a DINK and you don't have to move but when you have a kid(s) and thus a growing family you want to have a bit of stability and room. In my mind, they may not be the same but being in such close proximities, it won't really matter for me personally if I lived in Mt Druitt, St Clair, or Colyton or Rooty Hill - With the price point pushing out the more undesirables I won't be too fussed if I can get a house. That being said, I'm just sitting on the sideline for now and wait to see if I can get a house closer to CBD.

 

Tell me about it. I considered it cause it was not too far from James Ruse School. When I was looking I could had gotten a 3/2/1 TH for 700-800k. Not sure about now.

 

With all due respect, I think you should know more about someone's situation before you comment on how well they could have done, if they did something differently. I'm guessing you didn't know the number of IP's held was way into double digits, or that only 2 of the ones that we sold were in Mt Druitt, or that we are VERY happy with the timing of the sales to limit CGT, or that we rolled half of the funds into more IPs in a different area, or that we retired hubby from the workforce by reducing debt, or that we have been LOR for a couple of years now.

Personally, I'm not sure how I could have done any better than how it all panned out. Even the timing was pretty much perfect, there was only one property that we could have squeezed a little more out of $$ wise by holding on a while longer, but the extra $$ would have been eaten up by CGT, as there would have had to be 2 sales in the one financial year instead of spreading them out like we did. But hey.......what would I know.

 

I do agree that Tas might be a one hit wander. There might be capital gains but in the long run it’s not sustainable. A have a few friends who are from Tas and they pretty much mirror @Pentanol comments when asked about the place.

Not much to do, not afforded (now), boring and everyone who can get out, gets out.

 

I have 2 dealers our. Company supplies.
When I chat to the younger principals e yo e comments above.
Lack of staff to. Do, lack of jobs.
Youth are bored and drinking drugs.

I'm going by this as. My opinion.

Since I'm not investing in Tasmania. I have not reaseached personally

 

Whether right or wrong, when someone else says, "The smart money has left The Druie", most people would be thinking the author was referring to you - which they may have been, right or wrong. (Even though it was a silly thing to say).
Begs the question: Who is this 'Smart Money'? Probably some associate of Sophisticated InvesTor.
There are a lot of Smart FHBs who are very grateful to this Smart Money.