Your worst IP purchase

Because when the IR rise, there will be price drop for the property in some area, I believe that's the right time to buy.

Anywhere in NSW or in QLD.

Correct me if I'm wrong.

 

Southbank Melbourne hi rise apartment. Before I knew it, an even taller apartment right in front of my face took away most of the view, not to mention extra supply...and it was the same gawd-damn company! Had to offload it, even after a hefty discount.

 

which area did u buy

 

When my trusted builder described my first renovator as "too far gone".

 

Depends on how many IR rises..

 

Gateshead.

 

Rosebud's median house price has actually increased by $220,000 since December 2015. This growth is the exact same as experienced in other expensive nearby suburbs such as McCrae and Dromana. In terms of capital growth, Rosebud wasn't a poor choice. Although, the more premium suburbs such as Portsea, Mt Eliza, Mt Martha and Sorrento have experienced significantly higher capital growth within the same period.

 

We still have our lemon and our hoarder

 

And how will you know when the bottom price is reached, when will you enter to what price drop?
No one can pick the bottom or top precisely and just waiting for circumstances like IR rises and assuming property drops to enter the market is not an investment strategy. We cannot change the circumstances, what the banks or governments or the markets will do but we can change ourselves...
I always bought when I could afford as a strategy to add to my asset base. I also assume 80% of CG will depend on location hence personally in my strategy I sold out from Ormeau and would not invest in Upper Coomera, the issue for me for those suburbs, there is too much surrounding land that will become available in the future for development which in turn can dilute all land and house prices. However, it really depends on your strategy...but for some we learn over the years...it comes with experience and time.

 

At least you didn't sell it below cost.

 

I set aside about 5k per property. Only have 2 properties though but thats my rule as i progress to more properties.

 

My worst IP purchase has been a house in Revesby, NSW bought in 1985.

Unfortunately, I have had far more tenant issues with this property than the other two I own which are in lower socio- economic areas. Just another reason why I dislike Sydney so much.

 

1985! May ask what age bracket are you in? 55-65?

 

Palmerston,NT

Purchase price $415k
Six or seven years later it’s worth probably $350k......

 

I will be 59 early next year. This property obviously has grown in value greatly, capital gains wise, however I have had far more tenant issues with it, unlike the other two I own.

 

Worst property purchase I have ever done is buying in where you lived because you were told you can keep your eyes on the property.
That was my first mistake in property purchase.

 

I technically haven't ever bought any...

 

Hi just wondering if there is anyone who can give advice on 2 bad property purchases one townhouse in Richlands Qld in 2011 for $331000 now worth $285000 predicted value by the finance company in 2018 is $650000 other property the same but in Deception Bay.Is there any way to hold these finance rats to account in legal terms for being deceptive in there predictions. Cheers James

 

The properties were bought by my daughter through a company called Property Analysts Australia she lives in Adelaide and saw an opportunity to invest in Queensland She bought them off the plan. They supplied a whole lot of facts and figures that looked really good on paper She went to commonwealth bank and they gave her the loan interest only for 30 year So 10 years later properties have gone down in value instead of being worth $660000 her partner and her were sucked in with lies and deceit. All the company and their employees were concerned about were commissions