澳洲Australia property Some thoughts that help keep me on track

在澳大利亚


Howdy Folk,

Alot of brew ha ha going on in the media re house prices. Was reading some old books to gain focus (shares/property)... some things i took from it to help keep the mental game straight were

- Their are great years, flat ones and ones that stunk the place out.

- Been more good years then bad

- Stay with quality assets (well located property, strong companies)

- Don't over leverage or the stick will break

- Learn from your own and others mistakes (read about others mistakes)

- Have a buffer (cash/insurance)

So i'll just keep doing what i do, accumulate property/stocks for the long term

Regards,

RH  

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Ridin-High said: ↑
Howdy Folk,

Alot of brew ha ha going on in the media re house prices. Was reading some old books to gain focus (shares/property)... some things i took from it to help keep the mental game straight were

- Their are great years, flat ones and ones that stunk the place out.

- Been more good years then bad

- Stay with quality assets (well located property, strong companies)

- Don't over leverage or the stick will break

- Learn from your own and others mistakes (read about others mistakes)

- Have a buffer (cash/insurance)

So i'll just keep doing what i do, accumulate property/stocks for the long term

Regards,

RHClick to expand...
Great post.

I particularly like the one about learning from other people's mistakes.

Anyone care to share IP mistakes made? I don't have enough experience yet to list any.

Come to think of it, we paid asking price for the house that we bought. Did not negotiate anything. Should've done that differently.  

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I personally think i should have maybe went for better quality properties as in terms of location (possibly inner west sydney) instead of the high yield fringe stuff, i get decent yield on the stuff i purchased, but the growth has been lower then better located stuff (eg i think i got around 10-13% growth and inner city stuff went up 20% +).

Also with margin lending i've learnt from reading to keep the LVR's down and via experience that a high LVR on shares effects my sleep at night factor

Regards,

RH  

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srini said: ↑
Great post.

I particularly like the one about learning from other people's mistakes.

Anyone care to share IP mistakes made? I don't have enough experience yet to list any.

Come to think of it, we paid asking price for the house that we bought. Did not negotiate anything. Should've done that differently.Click to expand...
I will never buy a unit, townhouse, etc - basically anything that has body corporate fees. I would rather buy a house in a cheaper area and not have to cough-up for BC fees every three months (on top of rates). All the b******g and moaning from the other owners not to mention usually more 'issues' in regards to complaints from tenants. Nightmare - never again. It's houses or nothing for us from now on.  

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This should have probably been in the Investor Psychology section but whatever :p

Man just had a massive AHA moment

Regards,

RH  

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gottabespotless said: ↑
I will never buy a unit, townhouse, etc - basically anything that has body corporate fees. I would rather buy a house in a cheaper area and not have to cough-up for BC fees every three months (on top of rates). All the b******g and moaning from the other owners not to mention usually more 'issues' in regards to complaints from tenants. Nightmare - never again. It's houses or nothing for us from now on.Click to expand...
Buy a small block, then you ARE the body corporate. I once had a tenant threaten to complain about me to the body corporate (ha!).  

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