quote:

Originally posted by Beat Blog I can't afford that either.

I've met people who have built property portfolios starting with a zero and even a negative cash position so I think anything's possible. You just need to think outside the square and work out how.

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www.kellysbeachresort.com.au is my investment! its nice!

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nice is nice but how much is it making you?

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haha, screw all you people with money.

why cant anyone be happy with just one house?

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quote:

Originally posted by Lilith There's crippling and severe housing shortages in two of the three largest cities and the surrounding areas here. Even with the normal economic downturns that we experience, affected by interest rates and inflation, those people have to end up somewhere and the population is still going up.

About that...

I forgot to say earlier that, in my opinion, the only thing going more nuts at the moment than the existing property market is new houses, especially the pre-built designed display homes from companies like Henley and AV Jennings.

Although I don't work in the domestic market...I do have cursory involvement with it, and the amount of growth is just ridiculous.

A colleague of mine is getting a 3 bedroom display home built; it takes just two months!

His house is isolated, in a suburb far from new developments. When they get several hundred vacant blocks clustered together, that figure can go down to just over a month, because once the slab is poured, it takes only a week to cure, pre-built framing and trusses only three days or so to get up, and after that it's smooth sailing; really quite amazing really, how fast they can go!

I'm rambling, but I guess my point is that while, yes, we have a bit of a housing shortage now, the amount of new homes being churned out is ridiculous, and I personally think this will have an impact on the current housing market within a decade. Not so far as to decrease property values, but simply to slow down the current rate of appreciation to something more similar to that in the late 90's.

As I said, I'm not involved in housing at all really, but even I can name about 4-5 current developments and ten or so of the big domestic builders - my only point here being that it's an amazing, fast-moving industry to be in!

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quote:

Originally posted by eRRaTiK damn that's crazy. Does he use property managers? Has he ever managed any himself?

he manages all properties himself, with some small help from his brother for the interstate ones.

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hardc0re. He's gotta be super good at time and people management. Oh and keeping up to date with landlord-tenant laws.

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quote:

Originally posted by eRRaTiK hardc0re. He's gotta be super good at time and people management. Oh and keeping up to date with landlord-tenant laws.

well, landlord-tenant laws often depend on the lease contract you can make your own laws sometimes, mwahahahha.

but yeah, he's been into property for ages, knows a shitload, and keeps buying. as a real estate agent he knows how/when/where to buy.

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quote:

Originally posted by gumble why cant anyone be happy with just one house?

Some people don't even have that.

An astounding percentage of Australians hit retirement age broke or barely getting by. In fact a lot of people choose to work part time in order to maintain their lifestyles. With what the pension offers on a fortnightly basis I definitely don't want to be somebody who's relying on employer 9% super to fund my retirement.

It's possible but I'd like to know that no matter what happens I'm able to live comfortably and do the things that I want to do because I can, not be forced to do things because I didn't plan ahead. It all comes down to "who do you want to be controlling your future - you or somebody else?"

quote:

Originally posted by pkcRAISTLIN as a real estate agent

well that explains it. I considered becoming a REA about 6 months ago but I eventually decided I don't need to be one when I can leverage the skills of those who are already doing it and are experienced at it.

You don't need to be an REA to find good deals. It helps, but anyone can do it if they put in the time and effort.

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Jose Amnesia - The Eternal (Pulser Remix) / Chicane - Saltwater / Photon Project - Illumination / Gouryella - Tenshi / Altitude - Altitude (SHOKK Remix) / Rank 1 - Airwave / The Thrillseekers - Synaesthesia (En Motion Mix)

quote:

Originally posted by eRRaTiK You don't need to be an REA to find good deals. It helps, but anyone can do it if they put in the time and effort.

true, but it gives you a much greater skill-set with which to buy property. it also gives you a pretty damn high income if youre good at it.

essentially if youre a real estate agent its harder for other real estate agents to fuck you over you will always have a greater understanding of the market.

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quote:

Originally posted by eRRaTiK nice is nice but how much is it making you?

its a long term investment and lifestyle really at the moment - its more about the land value. It pays for itself really.

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quote:

Originally posted by eRRaTiK hardc0re. He's gotta be super good at time and people management. Oh and keeping up to date with landlord-tenant laws.

Not really, the laws are fairly simple things and really not that hard to get a handle on, most people in real estate aren't that educated past high school aside from TAFE courses and I'm no exception there. Mostly comes down to picking your tenants and finding ones that look after the property.
There's also something about paying real estate agents to manage property which bugs me, it ends up being a lot of money for what is essentially just a bank account, yearly inspection and rates, anyone can do that.