What does a property investor smell like?

I often wonder what the "typical" property investor looks, feels and smells like. Are they some super human being, who is constantly vigilant, scanning real estate websites, so engrossed in the notion of finding cash flow positive properties that they haven't showered in a week, building a portfolio with a  value in the millions, spending their hard earned cash (or using their equity through a line of credit) to keep the properties? Is a property investor a human, like you and me, who spends SOME of their spare time searching now and again, keeping an eye on the market, with perhaps a property or three? Or is it someone who struggles to hold onto one property?

I guess there is no "stereotypical" investor. There are about as many different people with as many different approaches as there are ways of wiping your bottom and hence defining the average is futile. 

This brings up an interesting thought: Can all people be investors? Does it only take the right mindset to make things happen and to enter the heady world of PPORs, IPs, LOCs, CF+ and CF-, SANF and SMSFs.... maybe it is, because currently, anyone with a decent credit rating and as little as $50 spare a week, can enter the property investing market. Anyone with an itch to scratch when it comes to investing should start scratching like there is no tomorrow, because market conditions are so favourable, only a dodo wouldn't invest. UNLESS, you are like me and have over capitalised, you should have a go...

Market commentary:  A lot of talk about the removal of negative gearing with the upcoming tax reforms. I for one would like to see them stay and history tells us, they will NEVER be removed again, but you just never know.....there are some funny folks up the top these days...

    

Interesting...

I am fascinated by the responses I get when I list off my properties to those that care to ask. Here is a summary of what I perceive as their thoughts (the list is in order of most likely):

- Bloody showoff.

- What? You own property?

- How the hell did you do that?

- Wow, he's done well...

- Maye I can do that too, ask more questions...

So now I am constantly faced with the dilemma of whether I should just keep my mouth shut, or whether I should "show off" with my hugearse 5 property portfolio. Seriously, it's so amateurish, I am ashamed or how small it is, yet I'm certain some people are impressed. Perhaps I should buy more so that I can REALLY feel good about myself. 

Market Analysis: I feel the market is gaining momentum very slowly, most investors though are still either sitting on their hands, or very very closely combing for low end bargains. I personally have found a couple and would love to buy, but I'm unfortunately in the position to see if my day job wages increases soon, which will be THE catalyst. 

Things are hotting up again, but why?

A few thoughts on why the market is hotting up all of a sudden:

1. We are slowly approaching the end of the first home owners grant and a lot of people are still jumping on the wagon at this late stage.

2. The financial markets are stabilising. People's confidence is returning, houses are being snapped up.

3. The bower bird that had been terrorising my back yard has moved...it's a sign!

In other news, after the Ingham floods,  strangely there are no bargains. It's like houses prices remained over priced, probably done deliberately by the RE agents to keep the vultures away. Shoo vultures, shoo, leave us alone... 

I see a problem here...

Check out this piece of news. 

I don't know about you, but this is very interesting. All these journalists seems to glorify one element of the market. I mean, come on, the average Brisbanite renting for $360/week? I doubt it...

Another glorification of inner capital city demographics, rather than focusing on the larger, more meaningful data that would be derived from lets say, a SE QLD sample. 

Something you may not have known about our banks...

The other month, my bank manager got a shock when I refinanced and took all my business away from the money hungry, paperwork losing, miss-communicating bank. Unfortunately I ended up with another money hungry, paperwork losing, miss-communicating bank, which begs the question, are all middle managers and loan account personnel in major banks idiots?

While I let you ponder over that question, I did bring up this topic for a reason. The banker called me, that's right, personally called me and asked why I hadn't spoken to him. So I proceeded to tell him, using very simple language just to make sure he understood, that my broker found a better deal. What happened next surprised me. He said, "You know I could have matched that rate?"

This blew me away. Is it possible that I can haggle and bargain my way to better deals with the banks? Is it possible that all those published rates are a crock of shit and I am actually able to "shop around" until I get to the lowest rate?

He actually informed me that yes, he is able to offer better rates to keep my business and to continue to use the services of his money hungry, paperwork losing, miss-communicating bank (lets call itmhplmcb for short).

Next time it comes time to refinance, I will put this to the test with my new mhplmcb. Maybe you should try it too...:)

WOW...just WOW!!!

Having re-read my ramblings from the past two years, I am wondering what sort of drugs I was on. They must have been good, because almost all of my past predictions have now been proven incorrect. In my defence, the impact of the US subprime market was huge, the scope of which is still to be fully felt. 

Market Commentary: In the last few months, the lower end of the market has definitely been given a boost and its great to see the flock of first home owners entering the market. I too have bought two properties, albeit not very well, but still, they are easy to hold and are strategical purchases based on location, not real current value. 

A side note: Initially, I was very impressed with a building inspection I received not long ago for one of my purchases. Just one month later, I get an email saying there is mould in one of the rooms and that the roof is leaking, none of which was pointed out in the report. Not happy JAN!!!!

Also, I have a new website with an irrelevant name, but it's basically the same information, but now with added knowledge! I have learned a few more things this past year and you the readers benefit. Have fun everyone!

http://ozmadeshop.com.au/