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P.S. Totally relate to drinking your own GJ’s dry if you had one Dubstep! My good old Aldi coffee machine gets a great work out as it is… tastes just as good too!!
Great thread guys. Interesting reading everyone’s plans & stories on retirement. For me, I reckon it’s all about enjoying & living your life to the full as much as possible now too, while working smarter (thinking IPs!) instead of harder.
I saw first hand dad working his butt off for many years – saving & saving for his intended retirement at 60 where he & mum planned to travel & enjoy all the things they’d been saving for….. only for dad to reach 57 & the big C arrived out of the blue. Never smoked, wasn’t a big drinker but still, it doesn’t discriminate does it. He was pretty sick for a couple of years & passed away just 6 months short of retirement!
So our plan/life is all about balance – planning for retirement one day yet not forgetting to live & enjoy life each day while we’re hopefully heading there!
HSBC’s take on Australia’s future re LNG etc…..
Hi Freckle,
Out of curiosity, do you have any IPs at all?
I’m thinking probably not considering your comment… “virtually every major economy is near collapse simultaneously”.
If you do have IPs, I’m stumped as to where you have invested?
Hi Simple,
I wouldn’t consider myself a “specialty investor” as such. Just someone (prob what the “true” specialty investors on this forum would refer to as “mum & dad investor”) who decided to look outside the square when capital city investment just wasn’t cutting it. After a heap of research/DD & drawing on a huge amount of knowledge, helpful advice & inspiration from the guys on this forum, ended up narrowing our focus on central queensland (Emerald) & have signed a contract a week ago for an off the plan build. So yep, we’re buying in 2012 too!
On another note, for those who recently purchased a villa/unit in Emerald – know there are a few of us on the forum – better news –
And another article from API couple of days ago….
Article today re Moranbah…..
http://www.abc.net.au/news/2012-03-26/dark-side-of-the-mining-boom/3913272
Right now the market in Emerald is very tight – see recent posts from others on Emerald… places are selling like hot cakes at the mo so I doubt there would be much room for discounting. For us personally (we’re in the process of purchasing an off the plan villa) we didn’t have the luxury of time to negotiate otherwise we would have missed out – they were literally there one minute, gone the next & we were one of the last to purchase.
popelich wrote:Does anyone know how the auction of 10 houses in Moranbah yesterday went.Cheers
Hi Popelich – apparently the auction was cancelled due to bad weather incl flash flooding & road closures. Unsure if they’ll organise another one in future but on realestate.com you can see some of the houses offered now due to auction being canned.
JT7 – we are currently awaiting a contract for purchase of a new villa in Emerald – have read all your posts & wondering if you mind if I PM you with regard to flooding & street we’re proposing to buy in – have received a bit of conflicting info ?
Hi guys,
First of all, thanks to everyone for sharing their great knowledge on this site – very informative & a lot of food for thought to say the least!
We are finally ready (hubby & I based in Syd) to buy an IP in one of QLD’s mining regions but keep changing our minds on location every 5 mins it seems! We were keen on Bowen initially (due to all the good things happening at Abbot Pt – incl Graeme’s post above) but at the mo vacancy rates are pretty high – seems 100+ properties currently for rent (have spoken to couple of agents) so if we buy there now, there’s no way we’ll get great yields and I guess good CG for a while either. But…. it’s tempting as we could buy an older house on a large block (1000sqm+ with development potential) close to town for around $350K – which is our budget (although could prob squeeze to $400K max).
Then we looked at Mackay – we can buy a 2bdr or 3bdr unit/townhouse there for $250-$300K+ with great rental yields straight away but not sure about CG on a smaller unit here compared to a house? Most houses seem out of our budget – except possibly for a few very old 2 or 3 bedders.
Then, after reading a lot of Josh’s posts & blogs (fantastic reading & info BTW thanks Josh!), Emerald seems a very good option too with predicted good yields & CG – but is there anything we could buy within our budget & if so, concerned about buying in the “right” area & estate – after reading posts about dodgy builders & percentage of renters vs percentage of owner occupiers, we wouldn’t know where to start.
So…. hoping to get some feedback from you guys on what you think about our dilemma – Bowen, Emerald or Mackay?! We’ve sort of ruled out Gladstone mainly due to risk factor (3 we’ve shortlisted don’t just rely on mining & also hardly much within our budget). Ideally we would like good rental yields straight away, at least neutral if not positive, with great CG to follow – like everyone else I guess!
Anything you have to share would be much appreciated thank you!!
