Firstly , referring to people that might have made some money out of property as " fat pigs " while " rolling in the mud of today's royalties " is not only incorrect , it's pretty insulting . Leave the name calling to the shock jocks thanks.
Secondly , " gloat and encourage new young and naive entrants into the market " . Another ridiculous and false statement . Recently , there have been some really good posts explaining how property investment works . People actually putting a bit of personal information out there for the benefit of others. No spruiking , just the facts from their experiences in a forum where people can ask them questions . It's incredibly hard to get that kind of info anywhere else.
The property boom in the Sydney market ? It has gone sideways for the last ten years and arguably underperformed in that time . It has only picked up recently .
What in tarnation has a person's relationship status got to do with property investment ? Are you saying that you shouldn't invest just in case you split with your partner ?
Well , that little gem rules out around half the married people in Australia !
As for not being able to do it without a partner , I refer you to 23's recent posts . That is a classic example of a young bloke buying something he can afford and then rolling his sleeves up and value adding .
Just like how the rest of us started out .
Per your example : If you buy an investment property and you're spending one complete wage trying to pay it off while living without " carpet or fixtures in the house " for 10 years , you're not a property investor , you are an idiot who is destined to do their dough .
You agree that a ppor is a good investment and yet you say that property growth is doomed . Using that theory , wouldn't you be smarter to sell your ppor and use the moeny elsewhere ? You can't have it both ways .
So , let's look at your prediction for Sydney house prices .
A one million dollar property to be worth between 16 and 32 million in 35 years ? According to my calculator , that's an average return of between 8.25 and 10.5% return . Average ! Who's spruiking now ?
At a far more realistic 5-6% , that's a price between 5 and 7 million dollars . Even at the old " doubles every 10 years " formula of 7% , it only tops out at 10 million .
And finally , your statement of attaining 7 properties by retirement is once again misleading .
As previously posted , it's not a competition to get the most properties , it's about investing what you can afford in order to increase your wealth. At the end , if you only own 1 extra property , is that a bad thing ? Imagine if you had a ppor in Sydney worth $1million and you had another house , which you own outright that was worth the same ? Pretty good position to be in , wouldn't you say ?
