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  1. #41
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    Default Investment properties

    Elijahs mum - if that type of investor is dropping out or the market, who is buying?

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    Default Investment properties

    Home owners to live in, my average buyer is usually couples with 1 or 2 kids in their late 30,s- early 40,s - most coming from units or smaller houses out of the area moving up, most have both parents working, I have had the most mortgagee sales in the last 2 years I've ever had as if one of them loses a job they are screwed as their mortgages are quite high

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    Default Investment properties

    Ah ok so people upgrading?

    I guess for that bracket it's less likely to be bought for a rental - I think the first home type house is more likely to be bought for investment (rental)?

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    Default Investment properties

    Yes , but these were the buyers that back in the day used to buy investment homes or units but because house prices are up, their mortgages and expenses are up they can't afford to take the risk to buy investment properties any more

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    Default Investment properties

    Ah ok got you.

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    Taking away tax benefits and negative gearing....honestly there has to be a financial benefit (yes, on top of capital growth - that's delayed gratification) - yes in 40 years time there are financial benefits in retirement (though the more self funded retirees there are the better for everybody)....but day to day - owning rental properties can really, really suck. The more you own the more it can suck.

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    Quote Originally Posted by Elijahs Mum View Post
    In my experience, being in Real Estate for 24 years , the biggest problem in our area ( Sydney South) is that for the last ten or so years property investors have been dropping off or pulling out of the market because of the stamp duty, taxes, insurances and high sales prices , most of our landlords (we have about 250 properties) are mum and dad investors, with only about 5 or 6 out of that 250 who own more than 1 home

    ten years ago there were a lot of homes for rent , now there are none, which in turn pushes rents up and makes it harder to find decent homes

    I think if the government made it easier or gave better incentives more people would come back to the market, more homes would become available , rents would be cheaper and we could find people more affordable housing without having to rely on government housing, which in our area there is a 10-15 year wait

    The average sale price in my area is $750,000 with the average rental being $650 per week, so it's not even a 4.5% return and the weekly mortgage payments are close to $1000 a week plus expenses

    With our 250 homes , 245 of the tenants are perfect and 245 of the landlords are lovely, it's the 2% that give us the most grief, the worst tenant I have ever had was a lawyer and the worst landlord was a multi millionaire!

    So no OP I don't think there should be a cap on the number of houses you own, I think it should be encouraged!
    This is my thoughts exactly. thankyou


 

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