I'm with you acorn, I can't keep up with MF. He is constantly all over the place changing his position. We are all mugs for investing in property. We are all doomed. The only piece of land which is going up is MF's farm which is increasing in value (apparently).
I would question if he owns this farm and works full time on the farm in the truffle fields, farming the lake, harvesting avocados and milling timber why he would not live on the farm ie build a dwelling or even a kit house. If he rents for 7K per year it would pay for a kit house within a few years plus you would add value to the property.
Now it costs $30K p/a to hold a property. I dispute this (as I'm sure a lot of other people will as well).
One example for me. An investment property I own in the southern suburbs of Perth is worth a modest $460K. I owe $182K on it. Last year my total outgoings with included bank interest, council rates, water rates, insurance, repairs was $14 711.41.
I manage this myself and have had the same fantastic family in the house for nearly six years so I only charge them $350 per week. So the total rent I receive is $18 200.00.
I'm not that good at maths but who knows where MF gets his figures from.
I'm still amazed people who have no interest in investing in property come to this forum and bag the hell out of property. What do they have to gain, they are just wasting their time and energy. I have no interest investing in spec bio stocks, that's why you won't see me commenting on them. I have better things to do with my time.
Maybe people on here who bag property are dreaming and wishing they had invested in property instead of having dreams spec stocks would make them financially secure.
Good luck to everyone how they invest their hard earned, I wish everyone success in their ventures.
