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Discussion in 'Introductions' started by Billv, 6th Oct, 2007.

  1. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Hi Everyone,

    I am coming over from the Somersoft forum,
    I will write a few lines to introduce myself.

    I am an Engineering manager and running a maintenance and support dept. for a large Australian company.

    I am based in Sydney, I have 4 IP's and always looking for more.
    I am interested in buying IP's, and adding value.
    I am married with 3 teenage kids.

    Thats all for now.
    If you have any questions fire away...

    Cheers
    Bill
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,619
    Location:
    Sydney, Australia
    Welcome BV ... great to have you here.
     
  3. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Thanks Sim
    it's good to be here
    I was wondering where you went :)
    Cheers
    Bill
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Bill :)

    Nice to see you over here! Thanks for the background- it's always good to know a little more about our members. Are all your IP's in Sydney?
     
  5. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Hi Jacque

    Nice to see you here as well...)

    Yes my IP's are all in Sydney now.
    I have confidence buying in our big cities but I have changed tactic so now I'd like to buy and add value therefore I have to be close to my IP's.

    Additionally, if I don't know an area well it's hard to find properties of good value.

    Some would say that VIC, SA and parts of QLD have still room for CG but I personally don't know.
    I am guessing that soon interstate property will stop beeing the flavour of the month and prices in many areas will come down.

    I also don't like following the herd as they can change direction.
    I have changed my direction already. I believe that soon the credit squeeze, the stock market correction that's (IMHO) about to hit us and perhaps interest rates will make many of us rethink our investment strategy.

    Cheers
    Bill
     
  6. voigtstr

    voigtstr Well-Known Member

    Joined:
    24th Jan, 2007
    Posts:
    679
    Location:
    Hobart
    You havent mentioned shares or funds. What do you use to pay the negative gearing amounts on your properties? Is that just straight from your pay?
     
  7. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Hi voigtstr

    I did have shares but not that many anymore.
    I was wise to sell them just before the last correction some months back.

    There are some good returns out there but we live in uncertain times.
    I don't want to risk my equity and to invest in shares or funds at present.

    My current IP's are not -ve geared by much.
    I fill out a tax variation form every year so my employer is deducting less tax from my pay.

    Cheers
    Bill
     
  8. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Would be interested to see some expansion in your line of thinking here, Bill. In what direction will you be prompted to go, if things go awry?
     
  9. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Hi Jacque,

    I was thinking of paying down debt.
    My LVR is good but I have high debt and the credit squeeze is starting to worry me so I will take things easy for now.

    The government is saying that all is ok
    but I see a lot of uncertainty everywhere I look.
    When the dark clouds are gone I will reconsider my position.

    In the meantime I am waiting for the stock market to fall and then to get back to normal. When it starts to recover I will use some of our equity to buy a few quality stocks and will also pump some money into managed funds.

    Cheers
    Bill