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The Investors' Thread (pg. 3)
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View this Thread in Original format
| eRRaTiK |
| quote: | Originally posted by narcism
all pieces of land are in malta, when i was over there i had one of the larger blocks estimated and it came to 100,000 pounds, which comes to nearly $400,000 australian. |
marry me? :p
| quote: | | Two of the other blocks are in green areas, which means they cant be built on just yet, but development in malta is on the increase especially since they joined the EU and give a couple more years and you will be able to build on them. |
Ever consider subdividing? The sum of the parts is sometimes worth more than the whole, particularly in a rising market. |
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| pkcRAISTLIN |
| id marry you anth, right race just wrong gender im afraid. |
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| narcism |
| quote: | Originally posted by eRRaTiK
marry me? :p
Ever consider subdividing? The sum of the parts is sometimes worth more than the whole, particularly in a rising market. |
yea no.
i thought about that but bigger blocks go for more because developers build apartment blocks on them, these two are quite narrow but long, will have to think about it some more.
Definitely will be building an apartment in the near future, be good to spend 4-6months a year there :D
If all goes well, might be doing that in the coming years :p |
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| pkcRAISTLIN |
| quote: | Originally posted by narcism
im building an apartment block for all auTAs to visit whenever they like! |
sweet! :) |
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| Beat Blog |
| quote: | Originally posted by eRRaTiK
Here's the thing.. the longer you sit and wait for something like that to happen, the more opportunities you will miss AND entry prices will only get higher. |
I disagree, I don't think the current market growth is sustainable for many more years.
Certainly we're not in for a big crash where the price of everyone's property will drop by 25% (as has happened in the past), but I think that the current growth rate will drop back to more "normal" levels within five years.
I went to an auction the other day; they were quoting 1.4+, and it ended up going for 2.175. It's ridiculous I tells ya!
p.s I'm not "waiting" for a drop in prices. I can't afford to buy at the moment, however in three years when I can afford to, I'm hoping for a better break than if I was buying now. |
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| eRRaTiK |
| quote: | Originally posted by pkcRAISTLIN
21 i think? |
damn that's crazy. Does he use property managers? Has he ever managed any himself?
| quote: | Originally posted by narcism
yea no. |
:( |
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| narcism |
| quote: | Originally posted by pkcRAISTLIN
sweet! :) |
:haha:
ill rent it out to ya
:p |
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| Lilith |
| quote: | Originally posted by Beat Blog
I disagree, I don't think the current market growth is sustainable for many more years. |
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.
It'll be around for some time, put simply, I have a really large amount invested in houses, units and townhouses and the last thing I am worried about is any of them going down in price... well short of someone uncovering a toxic waste dump or something under some of them! :D
Even with the Sydney downturn over the last 2 years, all of them where still either same value or increased.
| quote: | | I'm not "waiting" for a drop in prices. I can't afford to buy at the moment, however in three years when I can afford to, I'm hoping for a better break than if I was buying now. |
In that case it might be better to evaluate where you can afford to buy, rather than the when you're currently thinking of, wait until the interest rates from the creditor are more in your favour and start looking.
I love the views you have there Narcy! :) |
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| Beat Blog |
| quote: | Originally posted by Lilith
In that case it might be better to evaluate where you can afford to buy, rather than the when you're currently thinking of, wait until the interest rates from the creditor are more in your favour and start looking. |
That's a really great point, and I would generally agree with that, were it not for certain mitigating factors in my life at the moment.
At this stage I'd prefer to wait three years and move to a more inner suburb such as Richmond or North Melbourne, than move to Thornbury, Dandenong or any other further out suburb now.
p.s completely agree that property is far better than shares. If there's a crash with shares, you're screwed, but with property, at least you still own something tangible. |
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| eRRaTiK |
| 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. |
yes, population data suggests that there is and will be continued migration into the east coast cities. Sydney and Melb are poised to explode bigtime.
Population demographics are also changing ie. there is greater demand for medium to high density housing in our major cities and there is an increase in single person families and two person families with no kids. Traditional families with 3+ kids are not decreasing, but they're not increasing either.
What does that mean?
Well just observe the rental shortage already on the news over the past few months in Canberra and Sydney - landlords are commanding rents of greater than 100% in some places AND people are BIDDING for overpriced rentals!
Btw, don't believe anything I say. Do your due diligence to uncover the facts. A good starting point for population data is the Australian Bureau of Statistics census (though bear in mind this data is often lagging from time of capture to time of publishing). |
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| eRRaTiK |
| quote: | Originally posted by Beat Blog
At this stage I'd prefer to wait three years and move to a more inner suburb such as Richmond or North Melbourne, than move to Thornbury, Dandenong or any other further out suburb now. |
A strategy my friend uses is to ...
Buy the place that will make you money, rent the place where you want to live (until such time that you could buy it if you so choose).
It's working well for her. |
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| Beat Blog |
| quote: | Originally posted by eRRaTiK
A strategy my friend uses is to ...
Buy the place that will make you money, rent the place where you want to live (until such time that you could buy it if you so choose).
It's working well for her. |
I can't afford that either. :happy2: |
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