What they dont tell you in property forums??

Discussion in 'Investor Psychology & Mindset' started by MTR, 15th Jun, 2018.

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  1. MTR

    MTR Material Girl Premium Member

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    ....buying property can kill your lifestyle

    ....investors will only post success stories, its human nature

    Let me think... what else???

    .....
     
  2. samiam

    samiam Well-Known Member

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    Tenants make your hair gray....
     
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  3. Blacky

    Blacky Well-Known Member

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    Hmm - not true

    I posted (at length and multiple times) about numerous investment failures. Including a development which nearly sent me broke and when it was finished was completely unprofitable.

    Blacky
     
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  4. datto

    datto Well-Known Member

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    One day you'll have so much money you wont know what to do with it all. How many commodores could a person possibly want? After three they end up just sitting on the front lawn.
     
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  5. Harry30

    Harry30 Well-Known Member

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    Commodores! I like Torana’s.
     
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  6. balwoges

    balwoges Well-Known Member

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    Not much mention of selling expenses i.e. Stamp Duty, tax paid etc which would impact on your profit. If you bought a house in Sydney 10 years ago as an investment and sold it last year your capital gain would be through the roof but your selling expenses would also be high especially if the profit is added to your yearly income.
    Who would be willing to give us the figures on the sale of their IP?
     
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  7. Propin

    Propin Well-Known Member

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    Tracey - Perp told her amazing stories and the battles she went through. I highly respect that!

    My biggest failure - crossing loans against PPOR and becoming unstuck when I sold PPOR. Uncross before you sell.

    - Banks don’t always know their own policy so even if you get advice beforehand it may not be right
     
    Last edited: 15th Jun, 2018
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  8. Scott No Mates

    Scott No Mates Well-Known Member

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    Sufficient to say that the ATO scored a healthy kicker.
     
  9. datto

    datto Well-Known Member

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    A 3.8 V6 eats Toranas for dinner! (up to and including any unworked 202 motor).
     
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  10. geoffw

    geoffw Moderator Staff Member

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    While CGT is often mentioned, student loans aren't.

    Selling an IP at a good profit is enough to trigger a good size payment of any HECS/HELP loans.
     
  11. Rooky

    Rooky Well-Known Member

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    I view property forum as a kind of community. You pick any community or even people in your social or business circle. In any group, you will find some people who will tell true story and reveal good and bad parts of what they are telling and you will also find some people who will tell only good parts. Its human nature. After all its people who are members. So what they reveal/narrate here is largely reflective of their persona.

    That is theoretical explanation.

    However, i think, MTR, you have answered yourself what people dont mention on forum - failures they have encountered in their property journey - that has to be most common thing. You will seldom get people like Blacky who give unvarnished version of their failure or mistake.
     
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  12. Otie

    Otie Well-Known Member

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    I don't think they tell you about the lack of sleep at night factor, and the constant worry about the what ifs. I used to say if I ever won lotto that I would use it to invest more. Now I think Id just pay off my PPOR and keep the money in the bank. Investing is always a stress in the back of my mind.
    Always wondering, should I sell this one, get out now and take the money and run, should I hold that one and hope for gains...
     
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  13. bob shovel

    bob shovel Well-Known Member

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    Who to block and who not to
    Who is running multiple users
     
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  14. Tonibell

    Tonibell Well-Known Member

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    That if you say the same thing for long enough you will eventually be right.
     
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  15. Spiderman

    Spiderman Well-Known Member

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    * That property forums can be addictive and if you're not careful you can substitute reading them for action.

    * That sometimes doing nothing is the best course of action.
     
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  16. AndyPandy

    AndyPandy Well-Known Member

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    *Equity is not free money, it's just a bigger loan.

    *So called 'cash cows' being peddled are ONLY CF+ at an interest only rate of 4.5%.

    *You're not going to 'retire' from residential property alone. Those who claim to have retired are trying to sell you something in order to help THEM retire.
     
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  17. Blueskies

    Blueskies Well-Known Member

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    That many who are playing already have strong cashflow from high income jobs or businesses. A lot more doors are open when there is already a good financial position. I don't know that a lot of the newbies who join appreciate that, with stars in their eyes wanting a $3m portfolio on a single graduate income.

    That no-one has all the answers. No one knows for sure which markets will go up or down, and what property is the ''perfect" investment. The more you learn the better you improve your odds, but there is always an element of risk and uncertainty and you need to be brave enough to get to that point and pull the trigger even though the future outcome is not certain.

    Also that property is not a get rich quick scheme. It requires ongoing focus, self education, time spent researching, learning about tax, finance and structuring etc.
     
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  18. Blueskies

    Blueskies Well-Known Member

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    Also, considering asset allocation/diversification. There is a wide world of alternative investments out there that offer many benefits over property. A share portfolio will give you a lot less headaches with better yield, diversification, divisibility, tax management etc and has the potential to bring forward retirement earlier than a strategy of living off rental income alone.
     
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  19. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    well yes and no.

    I think we would need to add " early" and well to that.

    obectively a 21 yr old buying a couple of cheapies today will do ok by the time their official retirement age comes around :)

    But the average 30x family person with 300 k equity and 1.78 kids and 1.63 PAYG jobs isnt going to be able to replace their income in 10 years.

    Those are 2 different things

    We need a 4 lane highway really

    ta
    rolf
     
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  20. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    There is that 4 Lane highway again :)

    Most people on a property forum are long on resi property

    ta

    rolf
     
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