What they dont tell you in property forums??

Nah....I dont

Many of us could be cooked slowly.......depends on luck really.

 

My true definition of Wealth is when you can sustain yourself without working
now to some it 60K a year, to other it 100K or a million

 

...the general assumption that “things were so much easier” when you started out 20-30 years ago.

Just wait..

In 20-30 years time, the younger generation will be saying the same thing to you.

“Dad, in 2018 you could buy a house in Sydney for under $2 million! Why didn’t you buy 4 or 5 when they were so cheap?
Marg

 

Things WERE NOT easier 30 years ago. Its BS.

 

The half story.

Eg.
I live in a multi million dollar house, with millions in property in 1 property cycle, my strategy was to buy 5% gross ROI $300k properties in low capital growth areas.

*dig a little deeper*

I started with a $10M inheritance and a business making $500k plus a year.

*dig even deeper*

I did some high return flip deals.
Oh, I can also find you OTP 5% gross ROI $300k properties in low growth areas for a fee. / I'm a broker that can help you buy such properties.

*whispers "oh wow, he made millions in property by buying low return loe capital growth properties, he can help me get there too"*

NHG slaps forehead.

 

Things were probably similar, except you did not have to swim in debt as the average or below average Joe, that is fine except for if the music stops while your holding the parcel....

 

Our debt amounts were lower because interest rates and LVRratios were so much higher, and IO was virtually unknown. The effect on lifestyle and work to make mortgage payments were no better than today, with higher amounts owing but much lower interest rates.

The more things change, the more they stay the same.
Marg

 

I was going to start the grumpy ole *******/ess movement ..... LOL....don't know about being on the .money....after reading all those article about young uns making 300k in 4 years...with 2m plus in debt....i am thunkun....I must be a pretty conservative dinosaur who belongs in Jurrassic Park...

 

The one thing I must admit that I really miss is the lo docs/no doc loans, this was a serious leg up for those who could continue using equity and buying in hot markets.
Imagine if you had this product today

 

What they dont tell you..... when property markets start to soften??

I am not talking doom and gloom here, but I do notice that if fundamentals turn negative, in many cases the messenger gets shut down, or is referred to as a doom and gloomer... Am I the only one who has noticed this.
No biggie, nature of the beast, its a property forum after all.
Eyes..... Wide..... Open

Why?

live in hope
deluded
ignore signs of softening market
belief that markets never tank
inexperience/newbie
belief blue chip always performs regardless
belief that OZ major cities are land locked
no understanding of fundamentals of cycles
not understanding tools to determine market
selling something

 

We did as well.....

Go the girls

 

Optimism bias does not a good business/ investor make. Now, quick "think positive" !

 

I miss them only because you do not have to BS around for many hours and days.....it has become a red tape admin nightmare.......

 

Good to hear that you did, but did you run a business that enabled you to do so?

 

There must be some very overworked PMs out there still dealing in $m portfolios. I'll stick with the $B in the portfolios much easier dealing with these any day.

 

No! We were on one low income for much of the time. The business came later as a means to get over $500k worth of losses out of our family Trust.

 

I think there is a lot of information on this forum - a lot of good advice (some not so good) - and positive stories as well as negative.

I think part of the problem is that people only see/read what reinforces their own viewpoint and glosses over anything uncomfortable ... which happens in all aspects of life

 

Agreed! I know I've shared stories of things that have been less than perfect.

As to the quality of the advice given, I like to think that most people TRY to give accurate, helpful advice, however not everything will suit everybody and you have people with all sorts of experience levels. Sometimes you have to work out who's who in the zoo, so to speak, to know what might be helpful to you, in your own unique situation.

This is a real issue. Once upon a time, I could easily read every thread. These days, the volume is so large, it's just not possible to read everything, even if you spent all day, every day just reading the forum.

 

So true - in every aspect in life.

I go to a garlic growers seminar every year - have to, being on the Board - and in a room of 100 growers you'll hear 100 different ways of growing. It's all about listening to everyone you can about how they grow - from planting to mulching to fertilising to harvesting to curing to selling - everyone has a different method ... and then deciding what would work for you personally to get the result that you want.