property here we come, page-2

  1. 5,382 Posts.
    G'day taxing
    Thanks to you and others for sharing your thoughts.
    "Lesson 1, never never sell= you lose big time"
    I have bought 3 investment properties over the years and sold 2 of them for substantial % profit (one decided to sell as upgrading home, broke even). The most recent I netted more than a years wages for what amounted to about 2-3 weeks work, owned it for 3.5 years sold in july 03. Very glad to be out of real estate (except my home) in the current climate.
    I may buy back in the future, I live in adelaide though and view our situation to be quite precarious. We have some major exporting businesses, including holden, mitsubishi and many wine co's etc. With the depreciating US dollar it won't take much to smash confidence imo. For instance holden put on a whole new shift to build pontiacs (manaro's) for the states, I wonder how this was set up in regard to currency exchange and how the falling USD will affect profits and future sales? Not to mention the ageing population. I think one thing keeping things going atm is eastern state retirees coming here after selling the $1m homes and buying something here for 200-400k
    cheers and good luck

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