What does Veeky Forums think about getting into the real estate market within Australia right now, i'm looking for areas within the illiwarra region mainly for personal reasons.
Looking to buy rental properties but can't find any that'll be able to cover my mortgage, interest, utilities, maintinence, etc when putting a 20% downpayment and 80% loan. Could this be because of how expensive real estate is right now?
No idea about Illiwarra but as I understand it now is the ATH for NSW property prices, you'd do better buying in Perth (although it hasn't hit rock bottom yet, if you willing to HODL you could make a bomb in a few years) and maybe for the short term in Melbourne (what was it, 6% increase last month!?)
probably, but this isnt my expertise so heres a pepe
actually yeah i still need a few more years to actually have the money to do this without fucking myself over if i fuck up, So i'll keep that in mind,
however i usually don't try to time the market, statistics show that people just investing straight up will make more profit then people who time the market UNLESS they time it perfectly. However in this case the market will be low by the time i have money, so that works out quite well for me
When it comes to real estate, yield is king.
How much do you have to spend and how much income does it provide is the real question.
Now you also have to ask yourself if there are any red flags that would threaten your yield? How expensive was real estate 1,3,5, and 10 years ago? High yield after a bull run is very risky, you could be bagholding 10+ years...
Now after you've established how much you have to spend, have an adequate margin of safety (real estate hasn't 3x or 4x in your area since the crash), you can collect your free money, just make sure to be aware of all associated costs; don't be surprised.
Real estate is simple, don't try to overcomplicate it. Don't invest emotionally and get expensive properties dumped on you by people like me.
When to sell? Very simple, when you need cash to finance more profitable properties. If you are good at what you do, potential landlords will be able to see the value in your buildings and you can force their hand to pay a hefty sum for what you own.
wtf does this have to do with crypto m80?
reported
And to add to this and address OP more personally...
If you're getting a shit yield and prices have increased dramatically, you're going to be holding some heavy heavy bags if the large growth in your market doesn't continue for many more years.
You'll be set back decades as an investor, however if you get lucky (unlikely); you'll probably make stupid decisions in the future out of the delusions you develop as a misguided investor.
please leave my country chink
Interest rates would be a major concern.
Don't bother buying in Sydney right now unless you like buying at the top.
China has started restricting capital outflows so the Chinese can't buy all of our shit now. Wait until everything turns to shit, then buy.
t. Shirefag
Don't
Wait at least a couple years
I'm sure that's true in long term investments, but right now we're in a market that has never been higher. Only now is the Sydney market taking the foot off the accelerator, in other words, not a good time to buy.
BUT that seems to suite you fine, like you said, it's still a few years, so my suggestion would be to monitor Illiwarra prices on the reg. Make notes.
Most importantly write theories about where it will go, and then when you do your monthly review see if your prediction came true.
If you predicted a small increase in prices and there was a big increase, reverse engineer why you were wrong.
Check out planning ministry websites and see what announcements are coming out too.
Damn, that really simplifies it. Good post.
I hope you're not Asian OP
Buying rental properties right now is for spastics.
You will bankrupt yourself.
why does everyone think i'm asian!?
Cus only Asians have the money to buy RE in Australia right now.
i'll try that out, thank you
(should of included this part in )
you're not wrong... which is kinda sad
fuck don't go user i live in wollongong its the biggest hole. junkies everywhere like fukkkk just fuck my shit up man
lol yes wollongong the incest part or aussie, sticking dicks in meat pies and then fucking our brothers.
literally every town and city in the country is like that now
how shit is australia
it's either as described above or super lefty and politially correct and swarming with asians and indians
Sydney is where the true digimarines are.
We all cosplay as digimarines and meetup in the city and walk around. We preach to everybody the true value of Digibyte and we worship our god JARED!!! The one true king.
I'm considering making a public event and posting it here but i'm worried it will get hijacked and ruined. Should I?
my god, please do it
you cunts should try living in Tassie. Its bogan central out here
where's all the australians in this thread moving to once you make it?
Unironically Bali, the smallest state of Australia