Browse Forums Real Estate Re: The Gold Coast Property Market is Very Sad Indeed 3Dec 04, 2010 9:26 pm How the hell did I become a senior member!? I know nothing! Re: The Gold Coast Property Market is Very Sad Indeed 9Dec 05, 2010 2:47 pm Eve Dweller It's called negative gearing. You can tax deduct expenses. One normally only borrows approximately 10x the annual rental return with remainder as capital input from yourself. If you have no idea of this put your investment money in something else. Oh, I'm not buying an investment property any time soon. Was just wondering, as IDEALLY we'd keep our place we're in until the prices go up, but we want to live elsewhere. But we can't afford to own 2 properties. Wow, there's no way we could borrow only 10x the annual rental return...that'd only be about $170,000. We'd need twice that to afford a place to live in whilst keeping our current place as the rental. How the hell did I become a senior member!? I know nothing! Re: The Gold Coast Property Market is Very Sad Indeed 10Dec 05, 2010 2:50 pm Yeah, our incomes are no good. I earn basically per week what my loan repayments would be if I owned 2 properties and had loans for both. That's it. My entire income gone just on that, and that IS interest only!! No principle paid off at all. And travelbug, I'm with you. That is the only way I would be happy having investment properties. I'd buy cheap ones that you could do a fair amount of not too expensive work too that make a big difference, and then sell 'em. How the hell did I become a senior member!? I know nothing! Re: The Gold Coast Property Market is Very Sad Indeed 11Dec 06, 2010 4:30 pm grace_slick Yeah, our incomes are no good. I earn basically per week what my loan repayments would be if I owned 2 properties and had loans for both. That's it. My entire income gone just on that, and that IS interest only!! No principle paid off at all. And travelbug, I'm with you. That is the only way I would be happy having investment properties. I'd buy cheap ones that you could do a fair amount of not too expensive work too that make a big difference, and then sell 'em. Nah don't sell, that's short term thinking. I want to retire soon and live off my properties. The $20K you make in the short term will be nothing compared to the money you make keeping it for the long term. Just pull out the extra equity and buy another one. Repeat, repeat, repeat. Re: The Gold Coast Property Market is Very Sad Indeed 12Dec 07, 2010 7:18 pm Equity. I don't care much for that word right now. We have NO equity...2.5 years and we have nothing to show for it. *sigh* How the hell did I become a senior member!? I know nothing! Re: The Gold Coast Property Market is Very Sad Indeed 13Dec 09, 2010 9:50 am Eve Dweller It's called negative gearing. You can tax deduct expenses. One normally only borrows approximately 10x the annual rental return with remainder as capital input from yourself. If you have no idea of this put your investment money in something else. Well said, Negative gearing means you are making a loss which means you are out of pocket. Then hoping for capital growth to cover these losses is where you get yourself into trouble. Real estate investment is pretty tough in the bigger cites/towns the only real money now is in development/subdivison unless your in the trade. Re: The Gold Coast Property Market is Very Sad Indeed 14Dec 09, 2010 4:21 pm BeatrixKiddo Real estate investment is pretty tough in the bigger cites/towns the only real money now is in development/subdivison unless your in the trade. Not from where I'm sitting. Increased my equity by $200K in the last 2 years. 90% in Sydney. Last purchase (August this year) increased equity of $50K. Re: The Gold Coast Property Market is Very Sad Indeed 15Dec 09, 2010 5:46 pm Same as our area Travelbug - and we are not in a capital city but Newcastle is still growing steadily and upwards. Again as I said before property is not a quick investment in most cases - you should be looking at a slow and steady growth for sustained investment. Some things are worth waiting for. Re: The Gold Coast Property Market is Very Sad Indeed 16Dec 10, 2010 2:57 pm Wow, I wish we'd had ANY increase in the past 2.5 years. This is what I'm annoyed about. I see these places going up, and feel frustrated and like, was I supposed to expect things to NOT go up even 1% in the time other places have gone up by $200k?? How the hell did I become a senior member!? I know nothing! Re: The Gold Coast Property Market is Very Sad Indeed 17Dec 10, 2010 5:44 pm Everything works in cycles. A lot of people that bought in Sydney in 2003 have seen very little growth in 7 years in some areas. I've seen properties sell for less than owners paid 5 years previously. Re: The Gold Coast Property Market is Very Sad Indeed 18Dec 11, 2010 2:48 pm I'm from the Gold Coast and we sold our last house for a reasonable price but not what we could have got a few years ago. We had it built in 1992 and would nowhere near have even got our money back for quite a few years and that will probably be the case with our new place. We have toyed with the idea of an investment property but in the end you have to pay too much on the Gold Coast for what you get in rent. I suppose it's OK if you don't have much of a loan but we are just not in that position. We ended up investing in shares instead - you can just keep building up slowly instead of having to go in with a huge sum at the start - but of course that also has not been too fantastic recently. The value dropped a lot with the GFC but since we haven't sold then we will just wait it out and keep our fingers crossed. Both forms of investment IMO rely on you not having to sell at a "down" time in the market. Re: The Gold Coast Property Market is Very Sad Indeed 19Dec 13, 2010 2:33 pm travelbug BeatrixKiddo Real estate investment is pretty tough in the bigger cites/towns the only real money now is in development/subdivison unless your in the trade. Not from where I'm sitting. Increased my equity by $200K in the last 2 years. 90% in Sydney. Last purchase (August this year) increased equity of $50K. Sure its possible for you, but the average punter just been told just to buy a place (mortgage to the eye balls) and watch it grow is going to be quite unhappy for a bit. Take into account the losses you make, the cash outlay, outgoings and property is not the easy investment it used to be. That's why developing and subdividing has greater returns atm. Re: The Gold Coast Property Market is Very Sad Indeed 20Dec 13, 2010 3:31 pm BeatrixKiddo travelbug BeatrixKiddo Real estate investment is pretty tough in the bigger cites/towns the only real money now is in development/subdivison unless your in the trade. Not from where I'm sitting. Increased my equity by $200K in the last 2 years. 90% in Sydney. Last purchase (August this year) increased equity of $50K. Sure its possible for you, but the average punter just been told just to buy a place (mortgage to the eye balls) and watch it grow is going to be quite unhappy for a bit. Take into account the losses you make, the cash outlay, outgoings and property is not the easy investment it used to be. That's why developing and subdividing has greater returns atm. Developing and subdivising has greater returns, I agree. But my recent purchase costs me nothing to hold (what losses?) and will even net a return after depreciation and with the increased equity via the reno, even if values slip a bit I'm still ahead. It's a matter of education and research. I agree that it's not easy but I wouldn't say it's any harder than it has always been. Hi - thanks for your reply. Yes I think 'Ill go for whitish with very speckly bits rather than pure white something like this. PS was actually 2008 I built the… 2 11694 Anybody know any good and reasonably priced Air conditioning contractors/companies that could install a ducted air conditioning system in the Central Coast NSW for a small… 0 8993 You might be able to apply to divert the sewer at your expense. In NSW you would contact a Water services co-ordinator and they would give you advice as to whether or not… 1 16145 |