Forum Replies Created
According to a report written by a close friend of mine & his collegues at the Boston Consulting Group in March 2008 about Global Banking, Australian banks are some of the most profitable in the world currently, by a significant margin.
I learnt from my parents to invest in property. It is never too soon to get on the property ladder; especially if it is your first property. Not unless you are foolish enough not to have done your due dilligence properly and are getting a bad deal. IF you see a bargain then grab it in my opinion.
Investing in property is like going into a Casino. Everyone wants to hit the jackpot. The house (the government & market) can change the 'rules' at anytime and therefore the odds, usually not in your favour and this makes it harder. Understanding the market that you want to invest in is the first step.
If prices drop then you just have to see them through, because prices will be back up at some point in the future. That is one of the reasons why property is one of the best investments you can make plain and simple. You might even hit the jackpot big time. Far better than trying your luck at a casino. Remember to always DYOR!
BTW are you the same 'Scamp' , who is a 'Real Estate Developer' that posted on this thread on the 'Global House Price Crash Forum': http://forum.globalhousepricecrash.com/index.php?s=91120db0a24f872a3fc2b839ba702341&showtopic=31925 ??
Four years ago: http://www.abc.net.au/worldtoday/content/2004/s1058123.htm
Every year there is someone that predicts a crash, in one form or another. Surely someone will get it right one time…
Look at Rockhampton. Prices more reasonable with good growth expected. Feature article on Rocky in this months Queensland Property Investor Magazine "Rocky Takes Centre Stage"
Thanks for the replies. Very helpful. I am thinking now that in order to avoid all this hassle I should simply wait 6 months then rent it out thereafter as a 100% investment property. That way I can still claim the FHBG, achieve 100% CGT exemption when I come to sell in a few years and claim 100% tax offsets after the 6 month period is up.
CGT exemption is probably the most important point for me long term and I really need to live it in for 3 months to achieve that…so another 3 months to make the 6 aint too bad.
