The Aus99 property investment thread

[faruk]

time for a little finance talk boys!

I have saved up a little bit of money (despite my punting lols) for a deposit on an investment property, so have been checking some apartments out. Problem is, I don't know how much to trust these real estate agents. Like today I went to an agency to talk about an auction coming up next week, and the agent was telling me about how the place had very high demand and so I would need to make some real serious bids on it! However, when I was waiting for my uber in the waiting room, I was trying to chat up the hot secretary and saw on her desk a list for people at next week's auction.

There was my name and another there! I asked her if we were the only people going to the auction and she said at this stage, so then I think how can the agent say there is high demand if only two people going to bid??? fucking liar?

Anyway, would like to hear some stories from truthful brothers here about their investment property experiences. I hear the boom maybe over? Interest rates seem to be on the rise again! Is now a good time to invest in Sydney???

[Chinaman]

I hear the boom maybe over? Interest rates seem to be on the rise again! Is now a good time to invest in Sydney???
i think you answered your own question. but if you have enough money, not borrow too much and look for long term, then buy any time is ok. cycle will pass. and of course agent lie, they have own interest, just like anyone else, always keep in mind...

[wilisno]

time for a little finance talk boys!

I have saved up a little bit of money (despite my punting lols) for a deposit on an investment property, so have been checking some apartments out. Problem is, I don't know how much to trust these real estate agents. Like today I went to an agency to talk about an auction coming up next week, and the agent was telling me about how the place had very high demand and so I would need to make some real serious bids on it! However, when I was waiting for my uber in the waiting room, I was trying to chat up the hot secretary and saw on her desk a list for people at next week's auction.

There was my name and another there! I asked her if we were the only people going to the auction and she said at this stage, so then I think how can the agent say there is high demand if only two people going to bid??? fucking liar?

Anyway, would like to hear some stories from truthful brothers here about their investment property experiences. I hear the boom maybe over? Interest rates seem to be on the rise again! Is now a good time to invest in Sydney???

Yep, you should be able to get excellent investment advice from fellow punters ! ;) ;) ;)

[local]

There was my name and another there! I asked her if we were the only people going to the auction and she said at this stage, so then I think how can the agent say there is high demand if only two people going to bid??? fucking liar?


Real Estate agents are not what most of you think, most are just sales representatives, the agent is the principle of the real estate business.
I wont go into the various laws involved, but if the agent/sales droid is UNDER 60 years old, they are probably a real wanker.
If they are over and have be in the business for less than 20 years, consider them to be a wanking lying thief.

They have years of experience bullshitting in a great sales market.
Watch how many disappear when they really have to work for a living after the market turns.
The rising number of agencies will certainly be more than matched by the vacant offices and off lease range rovers around :-)

[Maxybro]

time for a little finance talk boys!

I have saved up a little bit of money (despite my punting lols) for a deposit on an investment property, so have been checking some apartments out. Problem is, I don't know how much to trust these real estate agents. Like today I went to an agency to talk about an auction coming up next week, and the agent was telling me about how the place had very high demand and so I would need to make some real serious bids on it! However, when I was waiting for my uber in the waiting room, I was trying to chat up the hot secretary and saw on her desk a list for people at next week's auction.

There was my name and another there! I asked her if we were the only people going to the auction and she said at this stage, so then I think how can the agent say there is high demand if only two people going to bid??? fucking liar?

Anyway, would like to hear some stories from truthful brothers here about their investment property experiences. I hear the boom maybe over? Interest rates seem to be on the rise again! Is now a good time to invest in Sydney???

Yeah mate don't trust those crooked agents, instead you should make your investment decision based on advice you get from members of punting forum. You can't go wrong.

[CunningLinguist]

time for a little finance talk boys!
I was trying to chat up the hot secretary and saw on her desk a list for people at next week's auction.

There was my name and another there! I asked her if we were the only people going to the auction and she said at this stage, so then I think how can the agent say there is high demand if only two people going to bid??? fucking liar?


There will be two real buyers and a whole lot of "extras" to give the imperssion of demand. Some of these extras will stand next to you and egg you on to bid more, the ones that stand near you will be attractive females.

[rogergeorge]

I wouldn't trust a real estate agent as far as I could kick them.

[Lenka_X5]

time for a little finance talk boys!

I have saved up a little bit of money (despite my punting lols) for a deposit on an investment property, so have been checking some apartments out. Problem is, I don't know how much to trust these real estate agents. Like today I went to an agency to talk about an auction coming up next week, and the agent was telling me about how the place had very high demand and so I would need to make some real serious bids on it! However, when I was waiting for my uber in the waiting room, I was trying to chat up the hot secretary and saw on her desk a list for people at next week's auction.

There was my name and another there! I asked her if we were the only people going to the auction and she said at this stage, so then I think how can the agent say there is high demand if only two people going to bid??? fucking liar?

Anyway, would like to hear some stories from truthful brothers here about their investment property experiences. I hear the boom maybe over? Interest rates seem to be on the rise again! Is now a good time to invest in Sydney???


Hey bro, property prices will keep going up. The property boom has slowed down a lot, so any capital growth you experience is a long term project but well worth it. If you are just hoping to get in the market, I recommend you get an apartment in a high demand area such as Burwood, Croydon (close to Burwood side), Petersham, Newtown or Redfearn. These areas are easy to lease out and am confident they will be the fastest growing areas in the next 5 years in terms of capital growth. Be patient if you get outbid by others, although you will eventually have to overspend a little to net in a high growth area but well worth it in my experiences.

As for interest rates, they are still really low because of the RBA's 1.5% cash rate, this is the lowest level in Australian history.

If you have more money to spend, you should go in partnerships with others to buy areas that you anticipate will have council or business redevelopment, e.g a block of townhouses or villas that you think will eventually be bought out. This will make you a fortune.

What others say about real estate agents is correct. Their job is to make a sale to get nice commission so they will bullshit you.

[puntercouple]

The most important question is how much is the secretary per hour? Does she provide bbbj as standard?

[cleetusvandamme]

Sydney prices have risen just under 20% in the last year, interest rates are extremely low and many people are on interest only loans. Any rise in interest rates combined with the non-permanence of jobs these days is going to mean trouble for people who have over extended themselves. There will be more houses on the market and prices will go down. I wouldn't be buying at the moment.

But I wouldn't listen to a random guy on a punting forum either.

[Maxybro]

Hey bro, property prices will keep going up. The property boom has slowed down a lot, so any capital growth you experience is a long term project but well worth it. If you are just hoping to get in the market, I recommend you get an apartment in a high demand area such as Burwood, Croydon (close to Burwood side), Petersham, Newtown or Redfearn. These areas are easy to lease out and am confident they will be the fastest growing areas in the next 5 years in terms of capital growth. Be patient if you get outbid by others, although you will eventually have to overspend a little to net in a high growth area but well worth it in my experiences.

As for interest rates, they are still really low because of the RBA's 1.5% cash rate, this is the lowest level in Australian history.

If you have more money to spend, you should go in partnerships with others to buy areas that you anticipate will have council or business redevelopment, e.g a block of townhouses or villas that you think will eventually be bought out. This will make you a fortune.

What others say about real estate agents is correct. Their job is to make a sale to get nice commission so they will bullshit you.

Great advice here. Prices will go up forever so borrow as much as you can and overpay.

You can't go wrong.

[corvus]

Hey bro, property prices will keep going up. The property boom has slowed down a lot, so any capital growth you experience is a long term project but well worth it. If you are just hoping to get in the market, I recommend you get an apartment in a high demand area such as Burwood, Croydon (close to Burwood side), Petersham, Newtown or Redfearn. These areas are easy to lease out and am confident they will be the fastest growing areas in the next 5 years in terms of capital growth. Be patient if you get outbid by others, although you will eventually have to overspend a little to net in a high growth area but well worth it in my experiences.

As for interest rates, they are still really low because of the RBA's 1.5% cash rate, this is the lowest level in Australian history.

If you have more money to spend, you should go in partnerships with others to buy areas that you anticipate will have council or business redevelopment, e.g a block of townhouses or villas that you think will eventually be bought out. This will make you a fortune.

What others say about real estate agents is correct. Their job is to make a sale to get nice commission so they will bullshit you.

That's good advice, I'm also looking at property. I think apartment prices 10km outside CBD will fall by 1-10 percent in the next 5 years. The stuff in the inner circcle will be the same or won't grow much. Try to get a place close to public transport.

[corvus]

Sydney prices have risen just under 20% in the last year, interest rates are extremely low and many people are on interest only loans. Any rise in interest rates combined with the non-permanence of jobs these days is going to mean trouble for people who have over extended themselves. There will be more houses on the market and prices will go down. I wouldn't be buying at the moment.

But I wouldn't listen to a random guy on a punting forum either.

That's my thoughts too, especially with tightening mortgage policies

[paulgallen]

Sydney prices have risen just under 20% in the last year, interest rates are extremely low and many people are on interest only loans. Any rise in interest rates combined with the non-permanence of jobs these days is going to mean trouble for people who have over extended themselves. There will be more houses on the market and prices will go down. I wouldn't be buying at the moment.

But I wouldn't listen to a random guy on a punting forum either.

We shouldnt be listening to your 1 cents either then !!

RBA scare to raise rate to burst the bubble. But the banks will raise it to boost their bottom line

[Pixez]

Great advice here. Prices will go up forever so borrow as much as you can and overpay.

You can't go wrong.

Made me lol so hard on that train. Haha

[cleetusvandamme]

We shouldnt be listening to your 1 cents either then !!


Yes, that was my point.
I actually get most of my advice from rugby league players. They seem to be a pretty cluey bunch.

[happyA]

Trying to understand the logic of ur thread. Does anyone actually rely on real estate agents for advice? HF no. You rely on them to ask the date of the sale, nothing else. Just do your own searches of recent prices yourself. If you cant do that then you need a trusted friend to teach u how

[paulgallen]

Use a buyers agent

Is there an equivalent site like this for property ?

Are there any real estate agents on this site ?

[otokosg]

not an expert on this, but last week while waiting for my train at a crowded station, overheard 3-4 young guys (probably overseas students, aged around 17-20) in a heated talk about how to invest in properties in sydney. Well, this reminds me of the times when stock market legends and business tycoons getting tips from a shoeshine boys or taxi drivers. Hard to find anyone who isn't interested in buying a house in sydney. Btw anyone read the article on a 20 something couple with 28 investment properties earning 300K a year? amazing and it also shows how warped the market is with lots of local residents struggling to find a place to live.

However, I'm still not sure if it's time to call it a top just yet.

[mrzhang]

I'm just waiting for interest rates to rise and see how screwed the market will become bra.. I'm selling everything and stockpiling cash and when it goes bust buy.. Lol.. Cash is king and cash flow even more king.. Oz Banks have a current short fall of something like $20b in liquidity.. Borrowing from overseas.. Wholesale funds.. Tightens of the market has been going on for some time.. Playing money into property is madness.. Overseas buying only makes up a small percentage.. It's a mentality.. Jot a reality..the current generation haven't lived through a recession and correction.. It is only a mater of time.. This all dues to government and financial markets.. Pushing prices up.. Not saving money from the mining boom from the past decade intona a sovereign fund to buffer against this..

Lol.. Play the long game.. Not da the short one..

[Chinaman]

what if government doesnt give shit about correction? government on same side as banks. maybe they help banks instead of the citizens. banks have power. government rich people they want their property continue capital gain. more unequal income now than before. maybe this continue and no correction happen because government dont give ship about helping normal people find affordable house...they have their own agenda and other powerful banks influence them...

[mrzhang]

I agree bra.. Don't get me wrong.. Your totally right..That's why I am selling up.. Stock pile the cash.. As the old saying goes bra.. Sell on high buy on low.. The world is screwed enough as it is.. That's why China is laughing all the way they have cash credit from exports to the world and buy shite up and when it's goes to shite and a country has nothing left after selling the crown jewels then we will see who is king.. The western world is for short term gain not thr ling game.. Little do they release when it's too late.. Why do you think big business is screwing the public over.. Woollies, Coles etc.. Private health insurance everything is going up relative to wages growth.. Fat cats protecting there own interest and pockets and the workers paying.. So I say this.. Fuck what the market is doing.. It's not real.. Sell if you are asset rich and stock the cash.. Buy when it goes to shite.. I have mates who been through it all.. They don't need the money and are selling ip and sitting on cash for next run.. And laughing at the stupidity of it all.. Overinflated and hyped.. All to protect the markets and banks bottom line.. Investors and borrowers go under by jot being able to service the interest only loans currently being sold.. Jot paying the principle.. in rates go up then so will the banks and this time the govt can't guarantee public savings to bail out as there is none.. All the money squandered from the mining boom by both sides of govt.. Which will end up again being pressured by the tax payer to burden through your bank savings!.. Lol..

[Longan]

I agree bra.. Don't get me wrong.. Your totally right..That's why I am selling up.. Stock pile the cash.. As the old saying goes bra.. Sell on high buy on low..
I think what Chinaman is saying is, there may not be a significant market correction (contrary to what most people seem to be expecting) because the government will ensure it stays this way due to conflict of interest and other stakeholder influences. If there is no market correction, then maybe the "low" that you refer to is now and therefore purchasing now may be justified on this basis. Interesting thought.

[mrzhang]

However bra..it is nor a low.. People are borrowing mortgaging more than what they can really afford.. It's relative.. And the central banks and govt are allowing this to a in protect the vest interest.. As you say.. But at some point but can't go on forever.. Tell me this.. You borrow more than you can afford but wages are not going g ip and cost of living does.. And if interest rates do to to encourage more saving to try and take the heat out.. The how are one to service the loans?.. Borrow more or try and sell?.. But to who when there are Jo buyers who are in the similar situation aswell.. Asset rich maybe but cash and cash flow poor when the tap is turned off?.. Less money to spend but trying to pay off the debt.. And so does retail and hospitality and good and services.. Hence the correction and dare I say recession to weed out all the shite ans dead wood.. The smart ones are selling up and pocketing the cash ans sitting and waiting.. Laughing at the stupidity of frenzy and madness trying to get into a over inflated market which on the surface looks at no end.. But is actually on bored time and only prolonged from the softened GFC we should of had not protect from the real reality..

[Longan]

However bra..it is nor a low.. People are borrowing mortgaging more than what they can really afford.. It's relative.. And the central banks and govt are allowing this to a in protect the vest interest.. As you say.. But at some point but can't go on forever.. Tell me this.. You borrow more than you can afford but wages are not going g ip and cost of living does.. And if interest rates do to to encourage more saving to try and take the heat out.. The how are one to service the loans?
I think when we hear "people are borrowing more than they can afford", the reality is people are not at the verge of defaulting, it just means they take a bit longer to pay it all off. A few decades ago, it may have been possible for average person to pay off an average loan in say 10 years. Now that people are borrowing more (cost of living increasing and wages slowing), it might mean it now takes 15-20 years to pay off average loan, but this doesn't mean they are going to default on the loan. And as long as this is the case, banks are fine. The only way for all this to go wrong is if everyone realises this is all messed up. But the government will never let this happen, they have all the tools they need to control the media and what the masses are thinking. We are not smart enough collectively to have any control over the government.

[mrzhang]

Wahhhhhhh bra.. Our govt control thr media?!.. Didn't know USA Donald Duck was our president of Oz!.. Lol

All good bra.. Point noted and taken.. The banks and govt can't ill afford to let the bottom fall out or else they will be all out of the job!.. Lol govt pension and super!.. Lol