澳洲Australia property I came to realise "blue chip&


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


All the so called "blue chip" properties are all BS when you taking into accounts the high entry price, high holding cost, vacancy cost etc etc, you make a mistake on a high price property and you are done, cooked, over, just buy where 80% the people can afford to buy or rent, period.  

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Totally agree! the only thing i like about my ppor is the land value = the mortgage payments , OH and the life style is just a little bonus , but again we sacrafice lots to be able to pay it,

my other thought on all this is that a million$ mortgage does change your money mind set and as others around you increse in price our mortgage stays the same , the p/ments hurt when we got in and now they seem managable ?  

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I'd have to say, pretty good advice in m any cases.

I've heard many a time investors receiving 3% returns on blue chip property.
Buying where people can afford to buy and want to live is sound advice  

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Suggest your IP's become a 4,5,or 6, out of 10 , this allows bargain buying and some value adding in the future , as valuers value against the average in the burb, and the nicest homes would be de-valued against the average.  

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iamsobored said: ↑
All the so called "blue chip" properties are all BS when you taking into accounts the high entry price, high holding cost, vacancy cost etc etc, you make a mistake on a high price property and you are done, cooked, over, just buy where 80% the people can afford to buy or rent, period.Click to expand...
Can't agree some make great investments, all depends on make up of portfolio. During gfc melb bluechip was a bargain.

If u have a positive portfolio and can handle the negative cashflow on the bluechip property then they can fast track equity big time.

For example in 2008 I bought a blue-chipper in melb for mid 8's, house two doors up sold in nov 2010 for 1.4m, nicer house but mine is a corner block and sub dividable. Rent is crap but if u count yield as rent plus growth then it has been a ripper and provided heaps of equity if required for other properties, buffer.

All depends on your portfolio and the market at the time. Having a mix of blue chip in the portfolio is highly recommended, by me anyway. Just a matternof buying them at right time of cycle, don't want to hold them long term in a flat market and wait for growth but if u can time it well they can fast track the portfolio.

Cheers

BT  

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Aside from a fried piece of painted potato...

What's a 'blue chip'?  

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Television said: ↑
Aside from a fried piece of painted potato...

What's a 'blue chip'?Click to expand...
It's a painted burger ring.  

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Yes they are generally exe to hold by the can have more substantial growth *mostly* - before i get flamed. Like the guy in Beay, i purchased a house in bayside melb for 1m 5 years ago and it would have doubled easily (i have spent serious coin on updates however) but shows a nice 12+% PA.
btw beay is nice but the no public transport kills the suburb - i would buy in a heart beat if the ran the train to the concourse like they originally planned  

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pieman said: ↑
Yes they are generally exe to hold by the can have more substantial growth *mostly* - before i get flamed. Like the guy in Beay, i purchased a house in bayside melb for 1m 5 years ago and it would have doubled easily (i have spent serious coin on updates however) but shows a nice 12+%Click to expand...
We also extended ourselves 5 yrs ago to buy inner bayside & the house has more than doubled. Has it cost a lot to hold? Yes, but CG has paid that back many times over. IMO finding a really good deal in a blue chip area is the best example of 'making money when you buy.'  

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Television said: ↑
Aside from a fried piece of painted potato...

What's a 'blue chip'?Click to expand...

From Wikipedia: stock in a company with a national reputation for quality, reliability and the ability to operate profitably in good times and bad.

It refers to stocks...but substitute "stock" with "property" and "company" with "suburb" or "city" and you're set :D  

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ashalim said: ↑
From Wikipedia: stock in a company with a national reputation for quality, reliability and the ability to operate profitably in good times and bad.

It refers to stocks...but substitute "stock" with "property" and "company" with "suburb" or "city" and you're set :DClick to expand...
think 'blue ribbon icecream' - you might get better, you might get cheaper. but blue ribbon ice-cream will always be wanted by the masses because it has a name. i guess i think of blue chip as the snob burbs.  

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It's not snob suburbs. It's just buying the most expensive PPOR you can afford because it's the only tax-fre investment  

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