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Thread ID: 60051	2005-07-21 01:51:00	My Job Sucks!	BOD (8569)	PC World Chat

Post ID	Timestamp	Content	User
374006	2005-07-21 01:51:00	Currently i do Tech Support for IT users. And to be honest it sucks paywise. I think doing the IT degree was a waste of time. You cant even get a decent paying job even when you have done that experience gaining helpdesk job. I think doing janitorial work pays much better! Even if i get some better roles it will not make huge difference paywise. But i am not gonna shoot off to Aussie like many kiwis do...at least not yet So i have decided to go down the path of investing in rental property etc which i know will be hard as it is already saturated with money making millionaires and sky rocketing property prices. Does anyone know of good websites/local magazines/books etc that give out information on investment within NZ particulalry residential propety market by region or any other investments schemes? Or any of you already in this investment business can offer any tips, ideas? I want to do some research and see if can do something. I will give it a try and if nothing works out then yeah...shoot off like many kiwis do :groan: Thanks	BOD (8569)
374007	2005-07-21 02:10:00	Be very careful. "Skyrocketing prices" are always a danger sign. Those who make money handing the transactions will always say boom-bust cycles don't happen any more. ;) They like their commissions. The basic lesson in economics which should be compulsory for all is: Take a balloon. Blow it up. This is an economic model. It's a low-technology "spreadsheet" extrapolating the rising market. (Everyone gets richer and richer). Keep on blowing. (The new economics says you can go on for ever.) Keep on blowing. (Everyone gets a bargain and sells at a profit). Keep on blowing ...	Graham L (2)
374008	2005-07-21 02:11:00	if you've already done a degree (what degree btw that puts you in techsupport?!), go back and do a few commerce papers in investment. Its not hard, and you'll learn a lot more than a book (in theory)...	DangerousDave (697)
374009	2005-07-21 02:33:00	Property is a 5 to 10 year investment at least	Rob99 (151)
374010	2005-07-21 03:05:00	I know of some people who would buy a house, keep it 3-6 months, spend $20,000 on doing it up, and then sell it for $40-60,000 more. Used to happen in Tauranga alot. From what I can see its all about future potential, whats going to happen in the future in a certain area that will push prices up... then get in and buy cheap (and hope you are not wrong). Its probably more mathematical and calculated than that (I don't know nor care as I am not really interested.. this is just what I see)	Myth (110)
374011	2005-07-21 03:52:00	Welcome to PF1 BOD . Graham L puts the property market in a nutshell very nicely . There are distinct regional differences in NZ though . Auckland yo yo's, it reached the apex a few months back, buying may be ok in 6 mnths to a year, otherwise stay out . I imagine Hamilton and Tauranga are not too much different, they may get a slight up as Auckland buyers look elsewhere for a while . Wellington is still slightly up, but not for too much longer however it usually has a flatter curve that Auckland (less swing) . I have no idea regards ChCh and Dunedin but Central Otago and Nelson is doing very well, so no market for rental unvestors there . Bear in mind there is an election coming up, that may drive prices down a bit . In the Wellington region, rental investors (and by and large I mean the medium to big players with 30-50+ properties) are reducing exposure or getting out entirely . Does that say something to you? While the investment should be considered long term, it also has a three yearly tax cycle, which encourages you to invest more (stay in debt) . Do-a-uppers on the other hand have a much quicker turn around, you need to know your market, tradesmen and suppliers very well though . At the moment I'd be staying away from anything monolithicly clad, built within the last 9-10 years or in a low lying area . Unless you want to buy really cheap and take your chances with the legal system (and future liability) . If you invest in property with borrowings against an existing property, be prepared to have both on the market and live in either one . Nothing ventured nothing gained . In summary, it's probably not a good time for residential property right now, unless your selling and can hang out for inevitable fall to get back in .	Murray P (44)
374012	2005-07-21 04:47:00	You have the right idea BOD. Invest for your future. Ideally you would set up your own small business but that is risky and might be better later on. I'd echo Graham's and Murray's comments. Now is not a good time. Property has boomed over the past 3 years and there is always a downturn. Be patient. The really canny property and share investors are quiet disciplined people who wait. Location location location. Pick the right area to buy in. Usually costs more but pays in the long term. Look for books by Martin Hawes. NZ guy and quite sensible.	Winston001 (3612)
374013	2005-07-21 04:49:00	I am reminded of a something I heard or read. When the shoeshine kid is asking about investing in shares ... it is time to get out ... Just prior to the Stockmarket Crash of 1929 Therefore when everyone is talking about an investment it is time to pull out. A collegue I know who followed this advice was out before the 1987 crash.	KiwiTT_NZ (233)
374014	2005-07-21 05:34:00	I am reminded of a something I heard or read. Quote: When the shoeshine kid is asking about investing in shares ... it is time to get out ... Just prior to the Stockmarket Crash of 1929 Therefore when everyone is talking about an investment it is time to pull out. A collegue I know who followed this advice was out before the 1987 crash. Very good. Wish I'd heard that one pre 87, assuming I could overcome other instincts.	Murray P (44)
374015	2005-07-21 05:48:00	How old are you? How long have you been working in IT? What sort of support are you doing? Helpdesk or actual desktop support? I know that young new IT staff get put there first as they have a lot to learn still. And not just in actual technology but customer skills, communication and also to see if they stick at it. Too many think they can flit off and make more elsewhere in 5 mins. Its no different from any other trade - you start at the bottom and work your way up. Generally you do better working your way up at the same company.	pctek (84)
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