I am sort of new to this entire idea of investing in property. For those of you who are veterans at it, what made you want to get into this type of business?
Announcement
Collapse
No announcement yet.
How did you decide to invest in property?
Collapse
X
-
Originally posted by Bob Kane View PostIt doesn't matter what you buy, after 20 years it will be worth heaps more than you paid for it.
Buy well and you can make even more.
Name another asset which can match that.
Comment
-
OP
It depends how you define investment.
I think that if you have one PPOR and nothing else, you are still a property investor, albeit on a smaller scale.
For myself, it just seemed easier than other forms of investment, you can see/touch it etc.
However, I have an IP, simply because I did not wish to sell the property at a loss, as I bought near the height of the boom. Recent rental price trends have made this attractive as well.
Comment
-
My parents told me to buy property...so I ignored their advice for years until I bought my own apartment and realised I never spent any time there. Out all the time and staying at girlfirends etc. So I rented it out and went Wow, someone else is paying for this. When I sold it for more than I paid for it a light went on.
That was 18 years ago and since then I reckon I have made just about every mistake you can make with property investing and I have still come out on top.
I did a quick comparison a while ago against what would have happened if I had just done the bank saving thing and not taken any risks. Instead of having my own unencumbered house, 4 rentals (leveraged) and quite a large cash fund and share portfolio, I would have still been paying my home loan (about $50,000 to go roughly). Worthwhile benchmarking exercise.
I also realise that I could have done better if I had sought some advice and paid a bit more attention to what I was doing.
Comment
-
Originally posted by TheLiberalLeft View PostRe your last sentence - where's the excitement in that, though, toasty?
However I sometimes make the mistake of looking at some of the properties I have owned over this time and sold on for various reasons and wondering where I might have been if I had hung on to them.... the reasons for selling were clear at the time....I suppose...
Comment
Comment