Posted to The Age (22/11/2011) on 22/11/2011 at 1:37 PM
Commenting on "Tips for young investors"
http://theage.domain.com.au/blogs/talking-property/tips-for-young-investors-20111122-1nrhx.html
Trust me, young people, it is not very smart just to be trendy, live in area you can't afford and stay close to the CBD. Try to look for a job close to where you live after you have digested what I have said in the first sentence.
Your money in the bank can never catch up with inflation, unless you keep piling up the balance with additional income from extra sources. The rental return for most properties is still not very good in Melbourne, so it is NOT a silly idea to continue renting. Be a good tenant, and you can see your rental payment goes down in real term.
So, you want to invest? Land appreciates, house depreciates - that is the saying. Your deposit money for a house may be sufficient to BUY, I stress the word buy NOT borrowed money, one or two blocks of land - obviously not in the already expensive / unaffordable suburbs. You have to do your homework and you'll find them. Google Earth can give you an idea about the surrounding environment.
Short term pain, long term gain does not mean that you go to borrow beyond your ability to repay. Look for win-win situation whereby you can achieve short term gain and long term gain - start searching for the "Far, Far Away Land" where there is a pot of gold buried underneath but will surface in years to come!
Until next time, keep reading my comments.
Posted to The Age (22/11/2011) on 22/11/2011 at 2:58 PM
When I was younger, I worked three jobs - 7 days and 6 nights before I was attached / married. Was there any life for me then? The answer is definitely Yes. Meeting people is life; talking to people is life; moving about contributing to the society is life, etc. Changing scenery from one job to another job was exciting and mind stimulating.
Last year, I used to get up at 5:15 am to catch the 6:06 am / 6:08 am train free-of-charge to Melbourne CBD. Sometimes, I dozed off for 30 minutes, or organised my thoughts during the train journey how I would conduct my class for the day. I was always the first one to arrive at the office; it was so quiet and no interruption. I could get great heaps of work done or marked plenty of papers before the office turned into a fish market.
There are properties you can afford to buy, but you must organise your life accordingly. You can drive to and park at the train terminus where train seats are plentiful.
Money does not grow on tree, and day dreaming does not increase bank balance. There are no rule books telling you where you should live or work. There are no rules telling you how you should make use of the 24 hours in a day, or where you can recharge his brain cells.
My friend gave me a big button on my birthday few days ago. On it was the wisdom "Aged to Perfection!"
Commenting on "Tips for young investors"
http://theage.domain.com.au/blogs/talking-property/tips-for-young-investors-20111122-1nrhx.html
Trust me, young people, it is not very smart just to be trendy, live in area you can't afford and stay close to the CBD. Try to look for a job close to where you live after you have digested what I have said in the first sentence.
Your money in the bank can never catch up with inflation, unless you keep piling up the balance with additional income from extra sources. The rental return for most properties is still not very good in Melbourne, so it is NOT a silly idea to continue renting. Be a good tenant, and you can see your rental payment goes down in real term.
So, you want to invest? Land appreciates, house depreciates - that is the saying. Your deposit money for a house may be sufficient to BUY, I stress the word buy NOT borrowed money, one or two blocks of land - obviously not in the already expensive / unaffordable suburbs. You have to do your homework and you'll find them. Google Earth can give you an idea about the surrounding environment.
Short term pain, long term gain does not mean that you go to borrow beyond your ability to repay. Look for win-win situation whereby you can achieve short term gain and long term gain - start searching for the "Far, Far Away Land" where there is a pot of gold buried underneath but will surface in years to come!
Until next time, keep reading my comments.
Posted to The Age (22/11/2011) on 22/11/2011 at 2:58 PM
When I was younger, I worked three jobs - 7 days and 6 nights before I was attached / married. Was there any life for me then? The answer is definitely Yes. Meeting people is life; talking to people is life; moving about contributing to the society is life, etc. Changing scenery from one job to another job was exciting and mind stimulating.
Last year, I used to get up at 5:15 am to catch the 6:06 am / 6:08 am train free-of-charge to Melbourne CBD. Sometimes, I dozed off for 30 minutes, or organised my thoughts during the train journey how I would conduct my class for the day. I was always the first one to arrive at the office; it was so quiet and no interruption. I could get great heaps of work done or marked plenty of papers before the office turned into a fish market.
There are properties you can afford to buy, but you must organise your life accordingly. You can drive to and park at the train terminus where train seats are plentiful.
Money does not grow on tree, and day dreaming does not increase bank balance. There are no rule books telling you where you should live or work. There are no rules telling you how you should make use of the 24 hours in a day, or where you can recharge his brain cells.
My friend gave me a big button on my birthday few days ago. On it was the wisdom "Aged to Perfection!"
