Hi all,

I must have missed all the fun!

Firstly, the dob in line reeks of another place and another time which shall remain unmentioned. Why not dob in your neighbors because they are different……….umm no thanks.

Secondly you would have to get everyone to quit their jobs in Melbourne and Sydney and move to another country to see a significant loss on a prime property. You can never get it again. Like huge blocks of land. YOU CAN NOT GET IT AGAIN. Sorry just wanted to get that point across. You can't put a land release back again………..

The cash will continue to flow in from wealthy investors not just the chinese as Australia is the property version of a swiss bank. We have a stable economy (shown through the gfc) relatively stable govt and laws. The building industry is relativly stable with good construction laws and unlike other countries our construction is governed and must meet strict requirements.

The thing that the media and most people forgot is that you can buy as much property as you like if you live here permanently.

I could buy property for my overseas relatives if I actually spoke to them or wanted to.  Also as an Australian person who lives here, I can go out and buy as many properties as I can afford. There is really nothing stopping everyone who lives here from buying as many houses as they want.

There is no media beat up on A Current Beat up or Today's Crazy Rant on investors because they underpin the housing stock through providing rental properties.

It is a crazy puzzle D, and inflation takes a dollar and makes it worth 50 cents. I think millionaire is the new middle class since most peoples houses are worth probably half a mil and up and then by the time you add in other assets etc then they would probably be close. Personally I'm not going to use a dollar amount, I will refer to rich people as "Leer Jet Rich".

This is what happens when you don't post for awhile, you write a book!

D

Hi,

Personally I would just wait as objections are pretty much just paper if the council is on board with the development. We had two objections, one because they said a plumbing fault with the previous house was our fault (?!) and the other because of,

the ducks, the traffic, the way the windows were placed, their liquid amber tree getting enough light, the disabled people in the area, the list went on for two pages.

I'm sure that they enjoy those three units that are there now. The tree looks fine……

Doesn't the subdivision process generally start at frame stage?

D

Nup, not the bank. I was wondering if this was money that was there for some reason, like to pay tax, or for whatever reason hence the reason you haven't used this money to either pay down the cars, or as deposit for another property. It is good that it is in the offset it is at least doing something, but if you could be doing something better with the money, then you need to.

Well 700k is great. So 700k / 25 years (minimum life span after retiring) = 28k a year. Some people may be happy with this, but after earning 200k a year then it may not quite cut it.

Just saying, is all!

D

Hi,

Have to say I feel the same about my super 'bonus'. That $16k (yes that's right!) is going to get me what when I hit 65?

I don't see having $45k owing on personal debt as the worst thing in the world, but I would look at getting a little bit of it knocked on the head because it will reduce your borrowing power.

Is the 30k for the tax man?

Set up some structures (please see good accountant who can talk you through everything) to protect your IP when you buy. Make sure you have minimized your tax etc, etc. Get some advice from a good mortgage broker (plenty on here). Get chatting to a solicitor about making sure you have a will, get life insurance. This is the basic common sense stuff.

Read and LEARN everything you can about property investing, buy some magazines, some books, hang out here.

You can buy something that has subdivision potential and really do nothing with it if you want. You may want to sit on the block (as long as it has a house to give you an income) for a couple years so that you can learn more about developing.

Start doing something now as you will never regret it, and in the majority of cases information is cheap, mistakes are costly!

Good luck let us know how you get on!

D

Karen, you are a little ripper. I am sitting through State of Origin at the moment.

Don't worry, most men just need a little nudging from the woman of the house because as my other half often quotes "Happy wife, happy life".

Wait till the baby comes, he will be pretty eager to get out of the house and a little project might just help him out!

Hehe we've now got 2 and they know about "the building site" and diggers, and trucks.

Good luck with all of your projects (babies and houses)

D

That's the problem with saturation advertising…..

D

Why not Perth? Parts of Perth are still undervalued and probably good returns. I get the trip part Maybe Adelaide before everyone buys it up? Yeah I'm getting the land tax blues but it really is just a part of the business of property investing. If you're paying tax, you're making money, right?

D

Yeah, KRUDD's problem is that he actually tried to implement a lot of his election promises. They were all flops.

Personally I never thought he was a savior i just thought he was a BS artist. He was here for working families, but he has plenty of money.

Bye, bye KRUDD. He will be decimated in WA. And if we get lucky in the other states too.

D

Well that's 3 people who'll vote against them. Matt007 sadly it is soooo true.

Can't run a bath, imagine if they were in business! Lucky they are only running the country…shudder.

Such a sneaking, insidious Govt. Goodbye Captain Bringdown and the Freedom of Information Fighters on your team. Everyone can see him for what he is now. A liar and a sneak.

This was the same tax they ran through at the same time as the budget right?

D