Buy something that you will own in its entirety, not just the bricks and mortar but the land. Will always be a better long term investment and with WFH destined to still be a thing for some time, outdoor space will be high on a tenants list.
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Property would be a long term hold right now generally speaking. There’s always undervalued assets in every class if you look hard enough, but median prices and talk of macro prudential controls mean that generally speaking it’s a bad time to buy.
Wait until Autumn unless a beauty comes up.
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You seem to have an infatuation with people’s mother’s. Did yours hurt you?
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Versus other investments the returns aren’t that great imo unless there are genuine capital gains.
You can’t live in a lot of other types of investments though.
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I don’t think many people buy rental properties and end up living in them either. But generally totally agree with your point.
I’d hold off on buying anything but I’ve been wrong on that fact countless times before, so really I have NFI
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Rental prices at least in Melbourne suggests most landlords are doing it for the long term gainz, not the short term. Very stagnant compared to prices.
Well that certainly wasn’t a denial… 
Father in law sat me down for the big chat about investments one day, I thought ‘…here we go…tell me to put it in a savings account or something…’
He simply said ‘watch what I do. And then do the opposite. I’ve got NFI’
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I’m reading a pretty good book at the moment. Not about investment per se, but it’s heavily covered.
Zero to One by Peter Thiel. Reckon it’s worth a read to get thinking a little differently about investment. Especially if you want to be different from blitzers in the magic beans thread. Aka the investment thread.(magic beans or ETFs basically covers it). I’m learning a few bits and pieces.
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It’s the gnawing attraction of bricks and mortar investment that eats away at you I think.
It’s the tax benefits and leverage which means it’s silly not too look at it.
I’d happily buy into good companies instead but I can’t get the sort of leverage and tax benefits that I can realise in property. (Sure you can get some tax benefits borrowing to invest in Aussie shares, but I can leverage in say a million bucks on housing from relatively little down and earn good money on it and it to be relatively low risk)
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Another angle.
Houses in my street are probably worth $1.8-$2M
Renovated well, easily $2M+
Knock down and build 2 places I reckon you’re getting valued around $2M each.
So I now got to figure out how much it costs to build two townhouses. If it’s $1M, then I can take $1M profit.
Seems to simple though.
Anyone done small scale property development?
Planning & permits, solicitors, demo, removal, finance costs, “site costs”.
All adds up.
Yes and you’re thinking on the right track. It costs the same to build no matter what area you’re in so the returns are obviously better in an established area. More so if you can buy an established property with enough land to subdivide and build on.
There’s so much to think about but the rule of thumb we ( the company I work for) use is buy established, deco if possible, with land. They’re hard to find but our clients reap the benefits.
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Anyone know what I could do over a uneven concrete slab in a yard that I don’t want to rip up?
Is floating deck the only option?
How big is the slab?
(We could probably do with a separate home reno/breaking stuff thread)
Not big, it’s a courtyard.
Maybe 3 x 3 or 3 x 4
It’s old, slopes away from the property and has a bunch of plumbing and sewage under it.(gotta confirm but pretty sure). It’s much to heavy a slope than what’s required.
Just no appetite to tear it up, but it’s not as useable as I’d like it.(ie flat)
I think your options are to either:
- do it right - break it up & remove it;
- pour a slab straight over the top (if there’s enough space, ie it won’t be higher than the surrounds)
- floating deck over the top
Are you planning on being there forever?
Any idea why it’s not level? Sunk, or tree roots?
At our place, someone built a verandah over all that stuff, then later up to the walls, roof etc. before you know it, half a house is covering access to all sorts of important stuff.
Tradies either run for the hills or just say they can fix it, but it won’t be to code.
Level it with sand and chuck some big pavers over it.