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brent2
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@brent2
Join Date: 2003
Post Count: 62
January 2, 2004 - 1:19 am
Hi there,
Live in Darwin, have since 94. Darwin property prices grew by 3.4% in the last 12 months, the lowest in the country. Gross rental yields are roughly 8-9%. The newspaper up here was trumpeting massive growth, and on the same page removalists ( Carter Bros. I believe ) were saying that they couldnt keep up with the demand for people leaving Darwin for good. I believe they said ” Best ever times that they had seen ” or words to that effect. So if that means that Sydney and Melbourne investors are pouring money in up here, then they better pour some people in up here too, as there is now, and in the future going to be a lot of untenanted property in this town. I have a unit up here, ( no mortgage, thank god ) that is currently untenanted, and I dont expect to get anyone before at least March, and it is a fairly nice unit.
Yes we are getting some more troops, which may help but that may not help you now if you buy a negatively geared unit.
Good luck to you, and Happy New Year.
Brent1
brent2
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@brent2
Join Date: 2003
Post Count: 62
December 18, 2003 - 1:59 pm
hi
Dont know about that. Doesnt appear to be in her nature.
Merry Christmas
brent2
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@brent2
Join Date: 2003
Post Count: 62
November 12, 2003 - 9:38 am
Thanks for that,
Will be a busy boy the next week or so, at work anyway, the PC at home freezes constantly, so will have to do most there!!!
Regards,
Brent1
quote:
Hi Brent
Yeah no trouble.
Try bobabraham11atnzoomail.com
Also join http://www.propertytalk.co.nz
It is starting to build up a good list of postings.
There is also http://www.housemouse.co.nz and http://www.landlords.co.nz and http://www.rentmaster.co.nz
Andrew at Rentmaster also posts on this site. His rental investments are in Auckland.
You have got lots of reading to do, good luck.
Regards
Regards
brent2
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@brent2
Join Date: 2003
Post Count: 62
November 12, 2003 - 5:31 am
Hello NZ!!!
I have been looking through the current posts, still have to go through the Treasure chest, regarding areas to/not invest in NZ. After I have been through the lot, can I please email you with any questions.
Regards,
Brent1 []
quote:
Hi Guys
I agree with Mel. I sometimes answer posts because I might be able to offer something useful.
I notice that as with rAty and Poltergeist most of my posts have been in the Fun Forum and also in the NZ related postings.
I have contributed very little in most other postings because I know very little about investing in Australia.
I have already been privileged to have met 4 people from the Forum and I am expecting to meet two more this weekend.
Regards
brent2
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@brent2
Join Date: 2003
Post Count: 62
November 11, 2003 - 2:15 pm
Sorry,
Didnt go to the auction, heard it from A Real Estate Agent, he was really shocked at the prices.
Regards,
Brent []
quote:
Hi Brent,
Are you talking about the auctions that happened in the last few weeks (2nd and 3rd week of Oct)? Did you notice who the buyers were of the majority of the properties, and what property group they belong too. This may explain why the prices were unrealistically high?
C2
“Is it true the more you owe the more you grow until the bank steps in?”
brent2
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@brent2
Join Date: 2003
Post Count: 62
November 7, 2003 - 4:22 am
Gday,
I think that PRD are currently doing all the auctions of ex housing stuff. Beware, though huge demand now for these, every single one sold in the last batch, and two of them went for the riduculous price of $200000. 12-15 months ago $130000 tops, and they couldnt sell the ones in Mouldy old Moulden, not even they are being bought.
Good luck,
Brent1
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 23, 2003 - 5:08 am
quote:
(-0_0-)
Couple of things to bear in mind with that strategy.
1) You are unable to purchase a property in your Super Fund from a related party – You.
2) If if it was not you but a 3rd party stamp duty would be payable.
3) Your Super Fund is not able to borrow to fund the purchase so you need to have sufficient monies in the fund to pay cash for it.
4) Super Funds normally pay tax at 15% unless the Superanuation Surchage applies. So treated slightly more favourable than a Pty Lty structure but less flexible.
5) Super Funds are not able to carry on a business so you can’t buy and sell as you would if you were trading property or renovating privately.
6)7)& Well i could go on.
Simple answer is beware as the Trustees are liable for breaching the Superanuation Act and the penalties are not light these days.
Cheers Richard
[email protected]
http://www.fhog.com.au
There is no such thing as a problem.
Just a solution waiting to be found
Hi there,
So your Super fund cannot actively trade shares?
Kind regards,
Brent1
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 21, 2003 - 3:45 am
quote:
Hi to all[],
I agree with everyone here. I’ve read all of RK’s books. At first I was looking for a lot of “how to” but realised that the journey is different for each of us. Eventually, I saw it as a way of thinking differently and that I would have to develop my own “how to”. Still doing this but a couple of years on am further along the road.
Cheers,
David
Hi there,
There is no doubt that the book changed a lot of peoples line of thinking, mine included. I have read them all, and I liked them. I was going through the phase of looking for something else besides the 9-5.
However, I WAS introduced to the book by the MLM people who were trying to get me in at the time.
The author of the critique does shoot down a lot of his theories in flames. Now I dont mean to upset you people who love him, but I simply asked for your opinions, and all of you seem to just think that the guys is just looking through the green glasses. Do you see any merit in his review at all?
Thanks again,
brent1
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 19, 2003 - 11:34 am
Quote:
Hi Erika, 90-94/5 with the science dept. Erika do you think Cullen Bay has been a successful project overall?
Brent1, A Transient population at it’s best, the highest in OZ. I hope Darwin does take off as I have IP’s there, but I’m a little more confident into the long term growth than the next 18 months. So is a US military base going to increase or decrease prices. A lot of long term residents (LTR) are moving out rural and this has put quite a few properties on the market. These are being bought by interstate buyers and the off shoot of this is that there has been an increase in the number of rental properties and the rents in Darwin for houses have dropped a little. ( this information came from a RE who offered me an executive home to rent at nearly 200/month less than at the beginning of the year, a vacancy of nearly 9 months).
Hi Shaunwalker, You will find another thread where the NT has been discussed a fair bit. This has included the hype behind a few govt and private projects that are occurring at the moment. I think the real estate agencies are getting cautious about a slow down on property so they are really trying to push these projects and advising sellers to hold out for higher prices. Thus the market is overinflated at the moment. I’m very surprised at the number of properties that have been sold to interstate investors at nearly 20% above market value. There have been a few projects over the years that were meant to create additional industries and growth in Darwin but have failed. A good example is the Trade Development Zone (TDZ).
Em and Roo are you still with us?
C2
“Is it true the more you owe the more you grow until the bank steps in?”
US base??
I think that that was knocked on the head months ago. There was some talk and then I think that I heard that the Yanks changed their mind. The company, Bechtel, that got the Gas plant project, are employing a lot of southerners for their plant, they will need places to stay. But I have heard from a lot of friends who have IP’s that they never have problems renting out their places up here.
” A lot of long term residents (LTR) are moving out rural and this has put quite a few properties on the market.”
Whom/where did you hear that from. Dont know of anyone doing that, people are looking to buy into the Northern Suburbs and Darwin fringe, if people are looking to move, then it is generally down south. Declining population last two years, but influx from the jobs created by the projects should stop that this year.
Regards,
Brent1
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 18, 2003 - 8:12 am
Thanks for your reply,
What do you make of all the stuff that RK wrote in his book which is either illegal ( ie INSIDER TRADING) or just plain wrong. You may have seen the points where the author quoted RK in the book, and then gave specific IRC? clauses that showed that no he couldnt do that, or yes there would be taxes on it, when Rk said it would be tax free.
If you can understand that I applaud you
Regards,
Brent
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 17, 2003 - 3:15 am
IMHO,
i THINK that this place will take off. The RE agents are doing there best, they are advertising places at higher prices, even if they havent sold after 6 months!!!! Un-bloody-believable.
Also when the Southerners see the cheaper prices up here they may buy up here, but remember if you do TRANSIENT population
Our super fund bought one up here no problems so far.
Regards,
brent1
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 16, 2003 - 6:05 am
Quote:
God i hope you’re wrong about the Uni!
here is a web page (whereis.com.au)
which shows houston St (where i bought)
http://www.whereis.com.au/search/result.jhtml;$sessionid$HKVFDBCMALAA3S0Z2WKSDSY?_DARGS=%2Fsearch%2Fsearch.jhtml.2
as for area’s i’d not go near, i agree with erika.
though i would add ludmilla to the list as there is an aborginal camp right next to it. No offence meant to any one on this but you would have to see this camp to believe it.
Sorry but she is correct.
The uni is at Casuarina with a campus at Palmerslum. However you shouldnt have too many problems tenanting in Houston St as a lot of the Hospitality workers live in that area as it is so close to town, they dont need a car.
whoops ( edited )
all the best
Brent
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 15, 2003 - 12:25 pm
Hi there,
Looking at a property in Wyong at the moment. Other than looking at websites etc,which we are doing at the moment, how do you find out about the industry and future prospects for Wyong.We are in Darwin, so bit hard to find out anything from up here, but will fly down to take a look before we commit.
Thanks again[|)]
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 13, 2003 - 6:04 am
Hi there,
Where can I find the thread for this ?
Regards,
Brent[|)]
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 13, 2003 - 4:44 am
Hi there,
Looks ( website ) alright. We have our own super fund, currently not much cash as we have just purchased property with it. Can you start this off with just a few Grand, looking at your examples, I would say not
Thanks in advance
Brent
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 9, 2003 - 3:45 am
Hi there, only new here but heres my two cents worth.
Are people aware that the Reserve Bank of Australia is 49% owned by J.D? Rockefeller, and it is up to him when the rates go up? Or so I have been told anyway. And it is not only “Australia’s” Bank that is privately owned, it is 80% of the worlds reserve Banks.
Can anyone confirm/ reject this piece of information?
Regards,
Brent
brent2
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@brent2
Join Date: 2003
Post Count: 62
October 7, 2003 - 12:27 pm
Hi there and thanks for your reply.
Not sure that I am doing this right but here goes.
We have enough cash to buy two of the cheaper type I units up here, however I have heard stories, no doubt true, about how people just buy one after another pos geared property. These people must be getting the deposit from somewhere. I must admit, the missus is still hogging Steve’s book ( PS hello legend if you read my post )and I havent got to the bit where he must have organised finance for the 2nd, 3rd 40th 50th property. Any hints from a Mortgage broker, from your point of view
Thanks once again,
Brent
quote]
Hi Brent,
That’s not a dumb question at all. In any property lending scenario the maximum LVR the banks will lend to are dictated by two things – primarily location, hence ease of resale, secondly full disclosure of ability to repay loan by the borrower. Different lenders have different spins on the risk levels they are willing to lend up to which is why both you or your wife may be right about the ability to use the equity in your IP for further investment …. []
If you’d like to pose a specific scenario some of the forum brokers and experienced investors will be able to help you. I am a broker based in Brisbane and can be reached by email below if you’d like a more detailed review.
[]
Mel
[email protected]
[/quote]