What do you hate most about Property Investment?

$300K invested at 50% LVR (total $600K) earning 6% (long term capital growth expectation) capital growth over 20 years amounts to $1.924 million. Subtract original $600K and you are at a loss of $1.3million because of fees. Ouch.

Cheers,
Oracle.

 

Forgive them father for they know not what they do.

It’s an addiction to drama they can’t help it. Ignore ignore

 

Hold them responsible for the notice they are meant to give. Ie 28 days in SA

 

Also time the lease so it doesn't end around christmas time.

 

Are they in a fixed term lease or did it go month to month (periodic)? If it went month to month, why did it go periodic?

 

It was long overdue to take the game to the next level and move into commercial.
I still buy impulsively as always.
Only found this place one week ago online and decided it was worth a punt.
It's the only place I've looked into, no shopping around for me.

 

Best of luck with it!
And... I'm an impulse type buyer too.... I totally get that!

 

Land tax, coastal councils (NSW) DCP's and big 4 banks lending criteria on pre-sales (currently 100% - 120% of hard costs.

 

@Xenia @D.T. @Gockie
They gave my PM a months written notice to vacate the premises.
They originally signed a 1 year lease then went month to month.
I am being a big whinger about this IMO.
The timing for vacating is obviously unfortunate over the Christmas/New year but they have been month to month for 6 or 7 years now IIRC after initial lease expired.
They have also been great tenants, no late rents, no unnecessary complaints, pretty clean premises kept.
Going to use the Christmas break/New Year to give it a lick of paint, new carpet, a Security Door for the front & a few other minor things. All ready organised with trades who are open for business after Boxing Day holiday.
Should be ready by no later than end of 1st week January for potential new people.

Timing is bad for me due to the time of the year, but it happens.
I wish them all the best.

 

So... They had that right. It's great to hear they did the right thing by you that whole time though.
Idea.... Airbnb it for New Years? If you can quickly source furniture for it!

 

Spot on @Xenia. A troll takes their power from intentionally upsetting people.

Tagging @Leo2413. When you engage a troll you give them the power. You can take back the power by ignoring them.

That said, if someone is not playing by the forum rules, you can politely report the post.

Let's agree not to waste any more energy on trolls.

 

How to be a sophisticated investor

They wouldn't happen to be referring to this, would they?

 

Every 2nd investor in Sydney would probably qualify for this.

 

That people you care about (especially parents) think they know better and do not support your investment/development decisions, regardless of what successes you can demonstrate.

 

Agents and property managers that lie and can’t admit to a mistake.

 

Not being able to get the funds when you know exactly how you could double/triple the money. It's so frustrating.

 

Admin probably.

Owning x number of properties may sound glamorous, but the admin costs of managing is annoying (emails about repairs, minor paperwork, bills, DD changes, etc). It isn't much work really, but nonetheless distractions from what i really want to do & focus attention on.

I see why people turn to other asset classes later (more passive, less hassle) & why some wealthier people prefer large portfolios with a smaller number of assets.

 

I agree it can be difficult when family, particularly close family do not support your chosen path. To all other people other than close family that we've encountered who were counterproductive to our journey, they were gone quicker than you could say boo! We don't tolerate any of that BS the losers give off in our life period.

 

Yes the trick is a small number of quality assets to reduce your overhead. The other assets don't offer you the same benefits that only property can.

 

A careless property manager. It's a nightmare.