The majority of our property has been purchased with "No money down"Bronte said:Some of our property has tripled in value in a relatively short space of time.
We could handle a 42% retracement.....if we had to
Freeballinginawetsuit said:I'm not a Mum or Dad, and my propertys have done quite well for me, very happy thus far. I simply don't aggree with you realist.
The majority of our property has been purchased with "No money down"
Borrowed the lot...even 'set up costs'.
What is the ROI here? The tenant and taxman have been paying the mortgage repayments for us.
Mostly new property and we claim full 'depreciation'
Freeballinginawetsuit said:Of course I am aware about the retreat in real estate value in Sydney over the last year.
I also believe W.A. may have some down side in the next few years, all my properties are on the coast with views and I think I am well placed.
Again that is my opinion and I don't really care if they go down a bit, they won't go down enough to affect the gains I have made on my original purchase price.
Cheers.
Bronte said:The ROI here is absolutely HUGE!
Realist, How would you class yourself financially?
Broke / Poor / Doing OK / Wealthy.....whatever!
Bronte said:Can you tell us please
Bronte said:Are you having trouble working out your age Realist?????
Realist said:Lets say I am about 30.
how much in money/assets should I have to be..
1) Poor
2) Average
3) Rich
I will answer but I wanna see what you think first.
Realist said:Probably not.
But in my original post it shows how you can lose alot of money when you take into account all costs and index it to inflation.
I have no doubt you are ahead now quite markedly probably, and will continue to be ahead for a long time. The gap you are ahead will narrow now though.
Do not forget that WA is the emptiest state on earth, it is limited for young people, as boring as batsh*t compared to Sydney, London, New York, and if a resource bust hits you guys are gonna cop it, your youngsters will head east, just like ours headed west recently. Your investment properties will be empty and drop in value.
This will happen, maybe next year, maybe in 25 years - I do not know, but there is no doubt in my mind it will happen.
I think just about every WA resident could have seaviews if they wanted them. You've got about 5,000 km's of ocean views available. Don't fool yourself that looking at water is the be-all and end-all. Sydney it is - but Sydney has the best harbour in the world and 5M people. WA has ocean aplenty and no-one lives there.
Realist said:Bronte, you seem to be one of those people that likes to box people, judge them on their financial worth, and someone that likes to listen to gurus. You probably think someone who lives in a flash house and drives a BMW is rich, and someone who rents and drives a Japanese car is poor.
You'd be wrong if you do..
No, I do not think that RealistRealist said:Bronte, you seem to be one of those people that likes to box people, judge them on their financial worth, and someone that likes to listen to gurus. You probably think someone who lives in a flash house and drives a BMW is rich, and someone who rents and drives a Japanese car is poor.
You'd be wrong if you do..
Freeballinginawetsuit said:Why would a rich person rent .
Bronte said:No, I do not think that Realist
I think you are 'Doing OK'....well are you?
Freeballinginawetsuit said:Why would a rich person rent and drive a boonga car!. Lifes to short for that.
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