Hi Kincella I have recently started reading the Property part of Hot Copper, mainly for a bit of an insight into what other people are doing in property investment at the moment. Been in property since 2004. Usually get more of a laugh from some of the comments on the forum than useful info. I have seen Matt747 in action over the last 12 mths or so. yeah takes all sorts.
I don't take much notice of predictions as mostly they are wrong even when made by the most educated people. look at interest rates, economists ,govts banks , have no clue. As for Hot Copperites predictions,, nahh.
I only invest in regional areas where i can make the figures stack up, add value , pick up equity and move to the next deal, said it all before on this forum. from my experience on the ground , conditions are great to be buying right now. The negativity on this forum confirms to me that now is when the big money and equity is to be made as the buyers are few , negotiating is easy. In a few years when we read this forum and everyone is raving about how they have picked up $100k by doing a renno that will be the start of the end. The smart property investors are quietly picking up the bargains now.
A lot of the comments which are negative towards property i think are from people who have been burnt by paying toooo much in the boom and not offloading early in the peace , but rather sitting on it hoping things would come good, which has taken a lot longer than anyone ever predicted. Would be devestating, especially if you were sucked into buying a unit in Port Douglas or the Gold Coast by a spruiker in the boom.
Also get the feeling there is a lot of Gunna- Do's on this forum who find an excuse to not buy property even if it is a screaming bargain.
However this has resulted in good deals out there and a lot more of them than in the boom.
I am interested to hear any comments /info on how much the carbon tax is going to increase the cost of buiding new homes and developing new res land when it kicks in. Can only send values of second hand older homes in one direction.
