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  • Profile photo of beediebeedie
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    @beedie
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    Mattnz,

    I presently have 5 boutique apartments and a fully renovated house under construction with a completion date and on the market mid-August. 3 out of the 6 will qualify for the grant as they are a tad under the $600000 limit but can’t say that I think all my xmass have come at once.

    Thinking the new home market operates in isolation of the established housing market is fundamentally flawed. Slapping home buyers with an additional $6000 or $7000 of tax in today’s climate will further slow the whole real estate market – established and new. So in my opinion they won’t be handing out too many of those $10,000 cheques…… we may get a ripple but not a tsunami.

    The truth is our state government seems to be besieged with balancing the books and had to fund some “headline good news stories” after all we have an election coming up.

    Our state treasurer is just cloaked it with smokes and mirrors.

    Profile photo of beediebeedie
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    @beedie
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    Just a bit of backgound.. maybe a bit of motivation for the smoke and mirrors from the state goverment????

    Some relief at last?

    In Politics, Queensland Market, Residential Market on June 13, 2011 at 7:45 am

    About one-quarter of Queensland’s total revenue comes from taxation.  One fifth of the state’s taxation receipts come from transfer (stamp) duty.  During 2009/10, Queensland collected just over $2 billion worth of stamp duties across 125,000-odd transactions.  This financial year, it is estimated that less than $1.8 billion worth of duties will be banked.  This is down 11% on the year before.  Total property transactions are down a whopping 30% to be about 90,000 sales during 2010/11.

    Now the Queensland state government is estimating that just over $2.17 billion worth of transfer duties will be received over the next twelve months.   Well, based on current form, that isn’t going to happen.  Andrew, what’s it like to finally experience that sinking feeling?

    Full article :- http://matusikmissive.wordpress.com/2011/06/13/some-relief-at-last/

    Profile photo of beediebeedie
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    @beedie
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    http://www.theaustralian.com.au/national-affairs/double-duty-pays-for-home-help-in-queensland/story-fn59niix-1226075250653

    My understanding is we get a short term (6 month stimulus from August) in the way of a $10,000 grant for anyone buying a newly-constructed home/unit priced under $600,000

    First-home buyers will remain stamp duty exempt on purchases up to $500,000 and still be eligible for the first home owner’s grant of $7000 plus the additional $10000 grant if they buy new.

    The initiatives will be paid for by increases to stamp duty for principal places of residence, for people who have previously bought property. Presently, an existing home owner buying a PPOR worth $500,000 would pay $8750 however the same property bought as an investment stamp duty would be $15,925

    From August 1, stamp duty payable will be the same for investment homes or principal places of residence. After the changes, the buyer in both cases would pay $15,525, representing a hike of $6775 on the PPOR. The increase on properties worth more than $600,000 would be $7175.

    It’s a bit of robbing Peter to pay Paul as far as I see it.

    This very short 6 month term of the grant is expected to boost construction of new homes and clear a bit of the back log of house and land packages whilst camouflaging the ongoing hike in stamp duty. This decision will do nothing for the general QLD property marketplace. If anything be more harmful to an already sluggish market making it more trying for people to sell and buy hence the decision is very badly timed.

    On another note it was only February this year the Qld treasurer  Andrew Fraser said stamp duty, was ineffective, a relic of the past and he wanted it abolished with federal government help but his response this week is to like double it….??

    Go figure what sort of political economic lunatics are running this state?  

    Profile photo of beediebeedie
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    @beedie
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    Top of my head ……….

    Floods?? You must be in Brisbane like me and yes the word on the streets is that the banks aren’t keen to touch/loan in the flood prone areas………. 8 months is a telling sign (average days on market in Brisbane is running at about 90 days) and why sell at a loss if you don’t have to….???

    Take the next opportunity to take a rent increase ….. Reallocate some of the spare funds to at least neutrally gear the property via offset account or reducing the mortgage and there are still ample funds to buy PPOR and another property for that matter depending on your gearing / comfort /risk appetite and serviceability.

    There are a couple of good number crunchers / advisors on here that I’m sure will chime in on this thread …..talk to one of them …. you not in that bad a position….

    Profile photo of beediebeedie
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    @beedie
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    At 62 I hope that you can at  least say you have enjoyed the quality of the journey to date.

    Looking forward I would suggest you timeframe some goals e.g. next 5 / 10 years and set about putting realistic $$ figure next to them.

    With that time frame you will need to leverage with others and consider a more aggressive strategy like subdivision and /or developments. Buy holding and hoping isn’t going to cut it.
    Talk to family and friends you trust and start there. 

    Looking down the barrel of a retirement on the pension to me would be more than enough motivation to step back up into the ring and take another shot at the title. 

    With hindsight and wisdom what have you got to lose??

    Profile photo of beediebeedie
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    "The Cosmos is about the smallest hole that a man can hide his head in " –  G.K. Chesterton

     I think of this quote in times of stress.

    Profile photo of beediebeedie
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    Ross Vile –  from Vincents Chartered Accountants Brisbane

    http://www.vincents.com.au/rossvile.html

    Profile photo of beediebeedie
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    @beedie
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    I have been in and out of my own wholesale business a couple of times over the last 20 years and presently managing a business with a turnover of 18 million annually … wholesaling  to  small business within the food and beverage market.

    I have seen the decline /changes in small business over that period. One of the major changes has been the proliferation of the franchise groups (just look at the average food court) and the incorporation by the major chains of different offerings in their business. (Coles/W/worth’s now into bakery, fruit, liquor petrol, pharmacy etc etc…)

    The other issue is the average small business owner is too busy in their business rather than working on their business.  Generalizing the average small business owner I meet has just subscribed to buying themselves a job because somewhere along the line they have been working for someone else and thinking “You know what I’m working for an idiot. If I run this business I would do this and this differently etc. etc.” So what do they do…. they beg, borrow or steal buy their own business and instead of working for an idiot they start to work for a lunatic (themselves). Because they may be good at cutting the hair or flipping the burger or hammering the nail but when it comes to the most important thing that I consider in any business and that is the sales and marketing they have no idea… NONE…

    The reality is for any business is that they have to get more people in their door to buy more and come back more often …..It isn’t the actual making of the burger but the sales and marketing. Look at MacDonald’s for example they have a very average product but they sell it by the bucket load and have put the average burger joint out of business.  Why because of the sales and marketing …… (Would you like fries with that?. When was the last time you heard a small business ask you something similar for example??)

    In regard to trading terms 60 to 90 days you looking at the dinosaur era but small business is reluctant to change with the times and ask the same of their customer base .  One of the hardest things I find that business owners and salespeople are reluctant to do is ask for the order or the business and/or ask for their money on time.

    Any way I’ll stop ranting now but you aren’t alone my friend.

    Profile photo of beediebeedie
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    Im all for a cleaner world and concerned about it as the next person but I dont get it…. is the below correct………….. surely not????

    A Pissant’s View

    In Carbon Tax on June 3, 2011 at 8:15 am

    It is World Environment Day this Sunday.  I cannot wait.  Nor could the PCA, as they hosted a Carbon Tax debate this morning in Brisbane.  I was asked to captain the negative side.  My two fellow supporters were Professor Bob Carter and John Humphreys.  We were debating against Matthew Bell, Kellie Caught and Kirby Anderson.  Google them to find out more.

    We were all asked to present for 5 minutes, then Mark Ludlow, from the AFR would adjudicate proceedings.  I took some old boxing gloves just in case things got out of hand.  In fact, as you are reading his, I might be well punching myself in the face in order to cool down.

    Find below my short spiel.   Some might recall parts of it from earlier this year.  Curiously that missive remains the most blogged entry we have done, both publicly and privately, and gets new hits almost every day.

    Here is what I said:

    I used to like Cate Blanchett – she played a great Bob Dylan in “I’m Not Here” – which is somewhat ironic as one of my favourite Dylan song lyrics goes something like this “what looks large from a distance, close up is never that big”.

    Which sums up perfectly carbon dioxide and its role in global warming, oops I meant climate change.

    Note how it was once called global warming, but given the evidence against a warmer world, it is now spun into climate change.  Hmmm.  And as for Cate, well she better play a bloody great role in the Hobbit or she is off my must see list.

    And you can tell Michael Clayton that “he is dreaming!”

    The Carbon Tax aims to reduce the amount of carbon dioxide in the atmosphere.  Not pollution – not that black stuff that covers you when you go to Honkers or mainland China, or if you live in the centre of a modern city.  But CO2 in the air.

    CO2 is a greenhouse gas.

    More CO2 in the air equals a warmer planet.  The issue is not whether carbon dioxide warms the planet, it is by how much.

    So what do we really know about carbon dioxide?

    Here are 4 questions for you.

    1. What % of the atmosphere do you think is CO2?  Most say 20% to 40%.  The correct answer is four 100ths of 1%.  As a decimal it is 0.038% of air.

    2. What % of CO2 do humans produce?  Most say between 25% and 75%, with some saying 100%!  The correct answer is 3%.  As a decimal, it is a minuscule 0.001% of air.

    3. What share does Australia produce?  Answers range from 5% to 20%.  The right answer is 1%, or in total 0.00001% of air.

    Let me put this another way – 0.00001% is the equivalent of 10 people out of the whole population of Brisbane or the people sitting at just one table in this room.

    4. Is CO2 a pollutant?  Everyone says yes, but it is a harmless trace gas.  Do you like to drink soft drink, beer, champagne?  Well they all have CO2 in them, so do eskies.  If Australia wants to tax carbon dioxide, get ready for some real pain.   There goes the weekend BBQ, Friday piss-up and midweek soak(s).

    Plants, by the way, create 33 times more carbon dioxide than humans do, and most of it is harmlessly dissolved in the ocean.  Yes, plants emit CO2, but their net effect is to absorb more CO2 than they emit…and even then they emit 33 times more CO2 than man does.

    But don’t take my word for it, let’s look at the official government climate models, which recently stated that if Australia stopped emitting all CO2 tomorrow – in other words if we went back to the Stone Age – the earth’s temperature could be 0.015 degrees cooler by 2050.

    Wow.  All our sacrifices for two 100ths of 1% of a degree.

    In a perfect world it might be worth it – it might give a bored race something to achieve – but when millions still starve each year; children are still being used as slave labour or worse; people continue to die from malaria, small pox and dysentery and the simple fact that we will just fritter away whatever money is made out of this new tax ….then I am a very firm NO.

    Ross Garnaut might refer to my final statement as being “pissant” but the Carbon Tax is really just another way in which Labor can redistribute wealth to the lowest common dominator – nothing more, nothing less.

    At least have the guts to call it what it is.

    It will do nothing for the planet.  Nor will any other nation be stupid enough to follow suit.

    If you want to keep your comments private and confidential contact me directly on [email protected]

    "This report is republished with permission of Matusik Property Insights."

    Profile photo of beediebeedie
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    @beedie
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    One of life's most fulfilling moments occurs in that split second when the familiar is suddenly transformed into the dazzling aura of the profoundly new…. These breakthroughs are too infrequent, more uncommon than common; and we are mired most of the time in mundane and the trivial. The shocker: What seems mundane and trivial is the very stuff that discovery is made of. The only difference is our perspective, our readiness to put the pieces together in an entirely new way and see patterns where only shadows appeared just a moment before.   E.B. Lindaman –  Thinking in Future Tense

    I have expereinced this a couple of times in my life and its addictive, addictive in the sense that you source, learn,implemete wanting that next penny to drop.

    Profile photo of beediebeedie
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    Warren Buffett talks about "putting skin in the game" in reference to managers and high officials showing their confidence in the company by putting their own money (their own skin)in. This, in turn, builds investor confidence.

    This principal is fairly universal really but is it a political winner and or priority…..

    Profile photo of beediebeedie
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    @beedie
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    nguli wrote:

    "Someone is sitting in the shade today because someone planted a tree a long time ago"   Warren Buffet

    Love it……….. and so true…… follow the dream……….their is a fine line between our dreams and reality

    Profile photo of beediebeedie
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    Life is a sword that wounds, but cannot wound itself; like a eye that sees, but cannot see itself…….
    Zen Master

    Profile photo of beediebeedie
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    @beedie
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    Jambv,

    Believe we are running at approx 85 to 90 days on market for the average property in Brisbane at the moment……….

    Depends if you need the rent….. and why would you be selling in the present market if you didn't need to………

    Profile photo of beediebeedie
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    @beedie
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    tcannon wrote:
    I'm hesitant myself in attending (after reading some of the reviews of the 2010 conference) hence the reluctant buyer syndrome.

    Regards

    Tony
      

    Tony… with no offence meant either……. my senses tell me from your negotation style and comment that as a budding investor …this is a conference that you must not miss… …  its a probaly one of the cheapest investment that you are likely to make in yourself…. and a good chance you may find the missing thread in your quest…. I have attented the last two conferences and picked up enough information relevent  to my investment journey to have paid for itself many times over.

    Just do yourself a favour and get there my freind……….

    Profile photo of beediebeedie
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    @beedie
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    The art of the negotiation…..lol………

    Tony……… just make the man a offer……..

    "If you don't ask you will never receive."…………..

    Profile photo of beediebeedie
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    @beedie
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    How long has the property been on the market?
    Will they negotiate on price?
    How did they arrive at that selling price?
    Have you ( the agent) sold any similar properties in the area recently and how much for?
    Why are they selling?
    Have they had any offers so far, if so how much?What is the lowest price they'll accept?
    Are they after a quick settlement?

    Mental note  ( most agents are legends in their own underwear)

    Profile photo of beediebeedie
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    Profile photo of beediebeedie
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    @beedie
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    Profile photo of beediebeedie
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    I assume the cabinet makers are also go to install the new switcboard after the new kitchen is in place

    Whats common sense tell you….???

Viewing 20 posts - 41 through 60 (of 153 total)