Why Hasn't Brisbane BOOMED

My parents are so old they are practically dead. Well, not really but they are around 80. They have just sold their IP in Melbourne and reinvesting the funds in Adelaide. Mum wants to buy houses needing cosmetic renos and project manage the renos herself. She just project managed a cosmetic reno of a PPoR they sold in Adelaide last year and is ready to go again

I would love to be doing what they are doing at their age. So I don't have any plans on not investing. If you have the time, passion and money, why stop?

 

I think you can do both

 

For me, it is a little thing called travel. Someone once told me that there are 200 countries around the world. If you do four a year, it will take you 50 years to see them all.

If I have the time, health, passion and money, I would rather travel (in style) and not 'waste' my last 50 years investing.

But each to their own.

 

I admire your parent's drive and your love of property but I personally couldn't think of anything worse.

 

All I need is a lap top and I can do both, work anywhere in the world, I must be super talented that's a joke...

Seriously though, I have been developing property in Melb and now Atlanta and live in Perth and will be travelling extensively in 2017, it can be done, just get the right crew together and perhaps visit once, twice pa.

 

This year we took out our biggest loan ever and we have been retired for 6 years.

This latest loan was more than twice our previous largest loan, taken out when we were both working and had our own business (sold when we retired).

Buy me a beer at the next Brisbane catch-up and I might spill the 'good oil'.

 

Different strokes for different folks, I must admit I would never ever renovate properties, did that year ago, way too much work for me.... there are far easier ways to make money just my opinion.

 

When I travel, I eat, drink and take photographs (landscape and seascape).

I don't have time for this property ********. I blow my lid when I get an email from a PM requesting approval of a maintenance item, a lease renewal, ...

Geez, give me a break. I am on holidays .

 

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If you have an ABN this will help when trying to source loans, RAMS do lo doc, its brilliant and may be a product that would suit you now that you are retired.

 

Really interests me when I see stuff like above, some people can post very average buying, total speculation on price growth at some point in the future (may even take several years to cover just the buying, selling and holding costs), but have pages of posts congratulating them. Not necessarily anything wrong with speculating if you want to, but some seem to get a disproportionate amount of praise and zero challenge questions. I think we've seen on at least one thread what happens if someone asks a question challenging buying in a popular market or challenges a popular poster. Would be interesting to know why some markets i.e. Brisbane and some posters are way more popular than others. It must be confusing or a bit misleading for newbie investors to work out. I did wonder if maybe anyone fitting the 'young gun' image or has featured in API may be so popular because their stories can be inspirational (not sure but just wondering if this is true), or anything that fits with the current herd view buy in Brisbane/S.E.Q is automatically popular. This thread is good for raising a bit of much needed thought.

@MTR asked why ignore a rising market and buy into one that isn't rising? I agree if you can buy into a rising one it has to be crazy to ignore. You have to buy what fits with your budget though, the timing of your finance, or your strategy (you find something in a non rising market where you are certain you can make equity). If you're not doing that but buying in Brisbane because everyone says it's next in line for a boom then I suppose that's also a strategy too.

Personally I haven't bought there because my budget would mean I'd be 20ks or more out of the cbd I assume and then what? I hold on for a few years and wait for price growth to cover all my costs and a produce a profit worth actually talking about. Can't say I feel excited by that idea so bought in outer Melbourne and NZ instead. Melbourne because it was going nuts so I anticipated profit would at least cover my costs and NZ because rent covers all my costs (and I unexpectedly got the growth as well).

 

Did not those pesky properties afford you to attend said eating, drinking and photographic excursions?

 

Nope, I am negatively geared.

So they are causing me to lose money .

 

The holidays or the properties?

 

Patience ...gunga din...patience.....but agree it ain't going to grow at the break neck speed of Sydney.

Jobs are the key...thus I suggested buying in areas where the locals targeted...my places have had about 100k growth in about 2 years.

The stuff I bought for 230-3250k will probably end up around the 400-500k mark by about 2020...nothing spectacular like Sydney but if you own seven and you have 1.2- 1.4m in equity between them without raising a finger that ain't too bad.....

 

Owning seven properties in almost any city is likely to see you making money by 2020, depending on purchase of course. That's why I always prefer cheaper entry point properties.

 

True if it is in the right part of the cycle for the city...you are unlikely to make much out of Sydney by then....if I pick up say 1.5m out of Brissie...and another 700k out of Adelaide...and then say another 800k out of Perth...that would be great it add another 3m to my portfolio and that does not include any growth from NSW regionals..or outer Melbourne growth.......that would probably add another 1.5 to 2m....

 

Exactly.