Property boom fuelled

[Guest Guest75]

What does your property portfolio contain @notpom???

 

It must be very healthy.

 

Mine is a mix of long term investment, short term letters and commercial, interstate interests and some interests in the UK.

[notpom]

What does your property portfolio contain @notpom???

 

It must be very healthy.

 

Mine is a mix of long term investment, short term letters and commercial, interstate interests and some interests in the UK.

 

You are an adrenaline junkie. I am a conservative old fart. Say if you offer me to bet that Sun would not rise tomorrow, I would refuse - it is too risky for me.

 

For that reason, only Torrens Title, only established, only under the median, only if I can develop or improve and when I am sure it will grow.

 

The last bit is hard to explain. It is just a gut feeling, but never fails. On my list I have got a few properties that doubled in price within a year after I bought.

The absolute record - few that quadrupled in value within a month. When boom starts - you sometimes get very funny things.

[notpom]

Long term fixed rates mean only one thing.

Banks offer fixed rates to make more money off your fears, not to make losses.

10 year fixed means they know that for the next 10 years rates will be LOW.

 

http://www.adelaidenow.com.au/realestate/longer-term-fixed-loan-rates-the-next-big-thing/story-fni0c830-1227215844313

 

[Guest Guest75]

You are an adrenaline junkie. I am a conservative old fart. Say if you offer me to bet that Sun would not rise tomorrow, I would refuse - it is too risky for me.

 

For that reason, only Torrens Title, only established, only under the median, only if I can develop or improve and when I am sure it will grow.

 

The last bit is hard to explain. It is just a gut feeling, but never fails. On my list I have got a few properties that doubled in price within a year after I bought.

The absolute record - few that quadrupled in value within a month. When boom starts - you sometimes get very funny things.

 

 

So where do you mention your portfolio??

 

I am very keen to learn from an obvious master .

 

I know you mention a "List" but is that actually a Portfolio you can show me, I am keen to learn. I can quite happily, but perhaps privately show you the portfolio I have built up over 35 years.

 

Some from the "time" investment theorem and others from the "Wants and Needs " theorem.

As an astute master investor I am sure you are very familiar with the above theorems.

A lot of posters in here will vouch for my astuteness in property but it seems I am speaking to an actual guru.

Edited February 12, 2015 by Guest75
Pants wettingly excited and made a shpeeling mishtak.

[Guest Guest75]

You are an adrenaline junkie. I am a conservative old fart. Say if you offer me to bet that Sun would not rise tomorrow, I would refuse - it is too risky for me.

 

For that reason, only Torrens Title

 

 

I actually thought my portfolio of property was a very mixed and balanced one - from Commercial ( good returns but fairly poor capital gains to higher risk in the Northern Territories).

 

I also would only buy Torrens, but I do own outright most of my properties - banks scream to lend money to me but I resist.

[notpom]

I actually thought my portfolio of property was a very mixed and balanced one - from Commercial ( good returns but fairly poor capital gains to higher risk in the Northern Territories).

 

I also would only buy Torrens, but I do own outright most of my properties - banks scream to lend money to me but I resist.

 

I am crazy, but not yet completely retarded. The thing I want to say - there is nothing wrong with your portfolio. As long as it works for you - it is marvelous.

What I wanted to say - is that investing in commercial property is not for the faint hearted. Especially in the country where manufacturing and export business is ruined by the highest interest rates in developed world and mining boom is over.

Short term rentals are OK as long as you have the ways of properly screening the tenants.

 

The only thing I do not understand is "owning property outright". It is like having pile of money that do not work for you. I am always on guard to have my properties mortgaged to the max.

 

Besides, many people do not know that there is no difference between mortgaged and unmortgaged property here in Australia. The very term "mortgage" is meaningless here. I learnt it the hard way. One marvelous day I was served summons for bankruptcy proceedings. Telco was unhappy I did not pay the final bill which was lost in the mail. And it was explained to me that creditor can get hold of any of my assets they like, and they do not have duty of care to sell it for the good price. In other words, if they fancy to sell a million dollar house to the dog of their CEO wife for a dollar - it is OK.

 

In brief - owning properties outright is not a valid method of asset protection in this country. I am not in the business of giving financial advises, but if I were you - I would have mortgaged everything to the max and would have bought more using these monies as a deposit.

[Guest Guest75]

I am crazy, but not yet completely retarded. The thing I want to say - there is nothing wrong with your portfolio. As long as it works for you - it is marvelous.

What I wanted to say - is that investing in commercial property is not for the faint hearted. Especially in the country where manufacturing and export business is ruined by the highest interest rates in developed world and mining boom is over.

Short term rentals are OK as long as you have the ways of properly screening the tenants.

 

The only thing I do not understand is "owning property outright". It is like having pile of money that do not work for you. I am always on guard to have my properties mortgaged to the max.

 

Besides, many people do not know that there is no difference between mortgaged and unmortgaged property here in Australia. The very term "mortgage" is meaningless here. I learnt it the hard way. One marvelous day I was served summons for bankruptcy proceedings. Telco was unhappy I did not pay the final bill which was lost in the mail. And it was explained to me that creditor can get hold of any of my assets they like, and they do not have duty of care to sell it for the good price. In other words, if they fancy to sell a million dollar house to the dog of their CEO wife for a dollar - it is OK.

 

In brief - owning properties outright is not a valid method of asset protection in this country. I am not in the business of giving financial advises, but if I were you - I would have mortgaged everything to the max and would have bought more using these monies as a deposit.

 

Interesting reply to my post.

 

Perhaps the use of the word "retarded" not appropriate though, I volunteered as a mentor at Minda.

 

Commercial property is working on the "Want's and needs" Theorem, pays handsomely, just need big Gajones to achieve the payouts. It's all in the leases, commercial leases are as good as gold in your safe if set up correctly.

 

The base core of the portfolio is sat on owned / mortgage free property's, the banks / lenders love it as I am a lot lower lending risk. During the dark days of a few years ago when the northern hemisphere melted down the banks/ lenders actually told me I was OK to borrow if I saw a new project - something very rare indeed!

 

Family trusts, limited companies and some offshore investment are the way to go - high value protection to be only opened up if a sure project comes up. See the point above, I can borrow when virtually no one else can - and at highly negotiated rates. Assets and investments are very tiered.

 

I have read very few articles on property investment , I also do not follow "trends". Just build up and use time. Where possible a capital and interest mortgage has been my greatest ally.

In the late 80's in the UK interest rates shot up to 17%, we had just bought a new family home, had some commercial property and recently opened a very cash hungry business. We cut our cloth and lived very frugally for a few years knowing that we were paying off and not just treading water.

When the rates dropped back down we actually insisted on keeping the same repayments. We had become accustomed to the amounts and had improved our business drastically. Cut a long story short we were mortgage and load free in seven years. That track history radically impressed the banks / lenders as we showed we could only "just" repay but actually manage our finances.

 

The only area I have not being happy with is Darwin, the apartment there never made a capital gain. It looked sure to boom with the new gas line and a few other factors - suddenly a building boom erupted and diluted the market. I saw it early , got out at about level . Some of those apartments are a lot lower value now.

 

Now that's my model / portfolio and how I came by it.- I would love to see yours and how you manage it. It's great advice you are giving but I would really like to see your working model.

 

In schoolyard terminology "I've shown you mine - now you show me yours":cute:

Edited February 13, 2015 by Guest75
Spelling mistak.

[Guest Husky]

I am crazy, but not yet completely retarded.

 

I'm sorry ..but I feel I have to respond to this. As someone who works with people with intellectual difficulties the use of this word is completely offensive. I view this word with the same horror that people from ethnic minorities feel, when they are faced with similar remarks about their colour. He has used the word retarded in a negative context..and although..i hope he didn't intend it the way it came across..the end result is the same. I suggest you take a look at the UN conventions on the rights of people with disabilities.....you would then see that what is being said..is ..in the eyes of the law....as bad as any racist remark made!

I will report it..if it is not taken down immediately

Edited February 14, 2015 by Husky

[snifter]

Donning the mod hat for this post.

 

It's not the greatest choice of wording, I'd have probably said "I am crazy but not stupid' or some such as that is the context with which I think it was written reading the post. It has a couple of definitions, not only the terms mentioned here. It wasn't about others, but the OP referring to himself. I think the member has had it brought to his attention now so let's move on and get back to the topic. Thanks.

[Blossom]

I just watched great British bake off. They said adding things to a dough would retard the yeast. Shall we write in and complain? No, of course not, because it is a common word.

The post in question was directed at the poster himself, nobody else, so is not discriminating against anyone.

It's funny how a poster who isn't very liked (sorry notpom, but it's true) is jumped on for this, but this post http://www.pomsinadelaide.com/forum/news-gossip/44520-sorry-but-i-am-leaving-4.html#post307657

Post number 40 not only wasn't reported, but was liked by a number of people. As so many people suffer from mental illness, I believe one in three?, it's funny nobody felt this should be removed as hurtful to anyone on meds for their mental health!

[Blossom]

So we see nothing wrong with laughing at people on medication for mental illness?

[Ktee]

Ok I have removed a number of posts which are in breach of forum rules. Maybe people need to start practising what they preach about what's acceptable and what isn't. Bullying over social media is also not a done thing but it doesn't seem to stop most of you.

Now I will close this thread (before any of you break any further rules) whilst I go back and look at the original complaint.

[Ktee]

Ok a member calling himself a retard seems to have upset the usual crowd. Whilst I admit the word in question is not politically correct and not one I would use he has not broken any forum rules nor any law. I refer you to the statement below and also ask that you read the vilification fact sheet. http://www.adcq.qld.gov.au/resources/brochures-and-guides/fact-sheets/vilification

 

Over the past 20 years, efforts have been made to ensure vilification on grounds of race, religion and sexual orientation is unlawful within Australia. Vilification on grounds of disability, however, has been ignored. The enactment of disability vilification laws would be an important step towards improving the lives of persons with disabilities. Over time, disability vilification laws would discourage the use of offensive and degrading language and assist in reshaping society's perceptions of, and attitudes towards, persons with disabilities.

To read the above search for Sticks and Stones