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  1. #11
    Gold Member SEC's Avatar
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    JBMurc, I prefer MCR - makes money, pays dividends and Comsec margin lends against it.

    I note everyone responding to Westie's question has either sold down/out or held their investment properties. Certainly no-one is buying residential property.

    SEC

  2. #12
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    The people buying property in the last 6 months are the suckers who are gonna take the fall. They're the poor morons who have waited & waited for the "right" time, when they think there is no risk in buying res property as everyone is making money on it so it must be a sure thing !

    I was talking to an agent about the market in my city and he says all the locals have stopped buying as they think the prices are
    b u ll s h it.

  3. #13
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    CDT18 which city please

  4. #14
    FEAR n GREED JBmurc's Avatar
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    quote:Originally posted by ENIGMA

    CDT18 which city please
    Queenstown's market is certainly overvalued by at least 20% [:0]
    5 odd years of 20% growth per year is coming to a end
    as will some of the highly geared development companies[B)]

    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  5. #15
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    quote:everyone responding to Westie's question has either sold down/out or held their investment properties. Certainly no-one is buying residential property.
    Actually, I bought in Jan & Feb. The Jan purchase was for myself, my first home. It was a deceased estate so I got a standalone 2 bdrm house 400sqm about 100m from water for $210k. 2 bdrm units in the area are going for more.

    Also bought a 1 bdrm unit yielding 9%, for about 8% less than CV. Owner was overseas so keen to sell. Never owned a 1 bdrm unit before, suprised by the high demand but it does make sense in this climate.

    Although I understand the concerns of the others on the forum about the likely hard times ahead, I've owned through 1 cycle & I'm not yet 30 so buy & hold is fine for my time horizon. I have become a lot more picky about what i'm buying now though, the situation/odds really needs to strongly favor me as the buyer.

    Love to hear if anyone knows of reliable ways to ferret out deceased estates. They are great buying if you can find them, can buy with cash, & offer fast settlement.


  6. #16
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    Dunedin

  7. #17
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    Our own home + two rental properties + still got two wraps going.
    All in Queensland.

  8. #18
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    I don't own an investment property, rather on the other end - a tenant. Got back from the overseas in the middle of the boom, and decided to sit out, rather than add to the hype. Plus also such a hard place to find a decent house.

    Worked out where I am sitting with rates, insurance, maintenence and mortgage, plus money under investment, prices would have to increase by 5% in the coming year to be on the winning side - not likely.

    My dislike of real estate agents is heightened by the fact our place underlet, good for us, but absentee landlord for whom an estate agent manages. They under-let it, as the agents want to buy it!

    Think alot of people will start to hurt on their rentals, once they come off fixed and rents don't meet the mortgage!

    SSB

  9. #19
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    quote:Originally posted by Sideshow Bob



    My dislike of real estate agents is heightened by the fact our place underlet, good for us, but absentee landlord for whom an estate agent manages. They under-let it, as the agents want to buy it!

    SSB
    I don't understand what you mean by underlet.

    Do you mean the agent has beeen given the power to decide the amount of rent by the landlord and has taken advantage of the landlord by setting it lower than the market rate and is at the same time offering to buy the property at a-below-market-price?
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  10. #20
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    quote: Originally posted by rmbbrave:

    I don't understand what you mean by underlet.

    Do you mean the agent has beeen given the power to decide the amount of rent by the landlord and has taken advantage of the landlord by setting it lower than the market rate and is at the same time offering to buy the property at a-below-market-price?
    The agent, who looks after our property (note agent, not agency) sets the rent, given their knowledge of market conditions etc etc. Owner lives out of town.

    They have taken advantage, in letting at a price slightly under market rates, not that I am complaining at all. Given what else is around and what another agent has told me, about 10% below.

    The agent is not trying to buy the property at present, but the agent has tried to buy the property off the landlord in the past, and has said to me that they are still very keen.

    SSB

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