Forum Replies Created
- jenni_nextplace.com.au wrote:Jamie is right logan area does have a bad stigma, an this is what will keep the prices down, there are also as I understand it traffic issues. Personally I think there will probably be better options out there for you.
Logan appears similar to Mt Druitt down here in Sydney. Like Mt Druitt there are good areas and bad areas in Logan. Mt Druitt certainly carries a stigma with it but I think it is slowly changing…at least in the better parts. Don't get me wrong there a still rough areas. These types of markets offer excellent CF and tend to slowly change. Mt Druitt and similar areas down here in Western Sydney are experiencing a bit of a run up in the market at the moment and I would imagine it would be the same when the market starts to move in the Logan LGA.
If you can manage the risks, like any market, and take advantage of the current slow market to pick up under market…together with great CF on offer, I think you could do very well.
Jack
Hi Michael,
I certainly agree with Richard in that your portfolio needs to be tailored to fit your requirements as an individual investor.
IMHO the corridor that runs south from Brisbane right out to Toowoomba offers some great buying opportunities.
Ipswich in particular has all the drivers that support a healthy property market including transport infrastructure spending, commercial investment, redevelopment and excellent population growth.
Jack
Adani Mining has applied for an environmental assessment from the federal government of a 300km rail line from Galilee Basin to Abbot Point Coal Terminal as it pushes ahead to develop its Carmichael coal mine.
http://www.miningaustralia.com.au/news/adani-applies-for-rail-from-galilee-to-abbot-point
Qlds007 wrote:Hi JackYes and he is a good lad to boot as well as being a bloody good accountant.
Cheers
Yours in Finance
Hey Richard…
How are you champion…..
I certainly have no doubt about that mate Stephen and his team are extremely professional!
Also it's another good excuse to get up to sunny Brissy to see you to two blokes on a more regular basis I'm hoping……
I can see some interesting and very busy times ahead for us Richard. Exciting times indeed….
With all of our trusted advisors and friends up in Queensland Richard….Sally and I might have to move up permanently lol
Hi Shaun,
Richard Taylor (Qlds007) put me onto his accountant Stephen Hodgkinson from Gold Group Consulting up in Southport. Stephen set up my smsf recently and the process was seamless! I live in Sydney and have no issues using an interstate accountant. Very approachable and extremely professional and thoroughly recommend his services.
http://www.gold-group.com.au/html/s01_home/home.asp?id=home
Jack
Deputy Premier, Minister for State Development, Infrastructure and Planning
The Honourable Jeff Seeney
Tuesday, May 29, 2012
Alpha Coal Project given go-ahead
The Newman Government has given the green light to what will be one of Australia’s biggest mines, the $6.4 billion Alpha Coal Project in Queensland’s Galilee Basin.
Queensland’s Coordinator-General has provided conditional approval for the mine – the first in the untapped coal rich Galilee Basin.
Minister for State Development, Infrastructure and Planning Jeff Seeney welcomed the decision and said the project would produce significant economic benefits for the state and nation.
“There’ll be an estimated $11 billion boost to the economy during the mine’s three year construction phase. 80 per cent of that will be retained in Queensland,” Mr Seeney said.
“Once operational, Queensland’s economy should see an economic boost of $1 billion per year from this mine alone.
“Australia can expect an $80 billion dollar rise in exports over the life of the mine.”
Mr Seeney said the Coordinator-General had approved the mine with strict conditions and the move was a major step towards opening up the Galilee Basin’s coal deposits.
“The proposal is for a 30 million tonnes per year open-cut coal mine and a 495km railway line from the mine to the Port of Abbot Point near Bowen,” he said.
The project is expected to generate up to 3600 construction jobs and 990 operational jobs.
The mine site is 130km south-west of Clermont and about 360km south-west of Mackay. The expected life of the mine is 30 years, with sufficient resources to potentially extend the project life beyond that time.
Despite the Coordinator-General completing Queensland’s assessment, the Federal Minister for Environment is yet to complete his assessment under Commonwealth environmental legislation.
“The Coordinator-General has thoroughly assessed Hancock Coal’s Environmental Impact Statement and associated materials, including 60 public submissions, and its Supplementary Environmental Impact Statement (SEIS),” Mr Seeney said.
Coordinator-General Barry Broe said his 393 page report contains 128 conditions.
“Conditions and recommendations in my report will ensure that impacts are well mitigated and managed through environmental management plans, environmental licences, development permits and a social impact management plan,” Mr Broe said.
The mine plan comprises six separate open-cut pits, with a total strike length of 24 km in a north-south direction.
Hancock Coal anticipates the construction period to occur between 2013 and 2016, subject to relevant approvals being granted for the project.
The Coordinator-General’s Report can be viewed at http://www.projects.industry.qld.gov.au
[ENDS] 29 May 2012
Media Contacts: John Wiseman – 0409 791 281
Kate Haddan – 0418 373 516
Dubstep wrote:Galilee coal mine gets State Government nod : http://www.abc.net.au/news/2013-05-31/galilee-coal-mine-gets-state-government-nod/4726622?section=business Good news.
A few head winds at the moment but things just keep moving forward. Hopefully September will see some stability and much needed reduced sovereign risk.
zmagen wrote:My mistake, your BRIC conspiracy saga came directly after the JGB graph – I naturally assumed it was a continuation of the same line of thought. I stand corrected – please, enlighten me, how is Russia's document relevant to this discussion and the news items originally posted?The Freckle brings up some very relevant points…..
I certainly wouldn't dismiss it as a 'conspiracy saga'.
Central banks are simply printing their way out of this mess causing fiat currencies to devalue and the market to be flooded with easy money. As a result Wall Street is racing to new highs but for how long….? How long can the facade last I wonder?
Those BRIC nations are stocking up on physical gold bullion at a absolute bargain at the moment…..
China economy will overtake the US in a matter of a few short years…… Conspiracy…? I'm not so sure…..
JT7 wrote:JacM wrote:Hi CatSurround yourself with a team of people that have already achieved thru property what you want to achieve. Couple of great brokers have already pitched in on this thread. Do yourself a favor and ask one of them to do your mortgage broking for you.
I second that! Well said Jacqui!
I'll qualify that comment from my own experience….
Catt, you want to select a MB that is concerned only with giving you the best service and product possible .
You need to select a MB that will sit down with you and discuss your goals and strategies.
They should be a partner in your wealth creation and guide you along the way.
They are out there Catt I know this for a fact….
Jacqui is right…perhaps they are here right now.
JacM wrote:Hi CatSurround yourself with a team of people that have already achieved thru property what you want to achieve. Couple of great brokers have already pitched in on this thread. Do yourself a favor and ask one of them to do your mortgage broking for you.
I second that! Well said Jacqui!
Hi Simon,
Not sure what part of Ipswich your property is…..
I have one in Redbank Plains and use:
Fiona Rogers at the Professionals
Property Management
p 07 3818 5900
f 07 3288 1091
She is excellent and haven't had a problem what-so-ever thoroughly recommend her.
Hope this helps mate,
Jack
Hi Issy,
Richard brings up a very pertinent issue in relation to cashflows….
There is a raft of strategies you can adopt to achieve your goals.
What you might want to consider, and this is just an example, but instead of paying a premium on a land and package why not look at purchasing an established property in an area that has all the growth drivers that are going to ensure continued growth.
Research research research and know the area like the back of your hand. Look for something under market value then perhaps a small cosmetic renovation to increase the rent.
There are plenty of areas Australia wide where you can achieve this type of result sub $250k easily. Generate some value.
IMHO I think that's where the opportunities lie in being able to generate good CF and value…..
You might do okay out of a land and package, I'm not disputing that, but I just think there are better ways to achieve your goals. I feel I can make that statement because I've purchased a similar product in the past and even though I've done well it was on a rising market.
My end goal is the same but my strategies have now shifted (Thanks Richard!).
Stay on the forum Issy. Search through the threads and get an idea of what other people are doing. Some of them are sophisticated and very experienced investors and you will learn a lot.
Hope this helps,
Jack
The issue I have with house and land packages is that you'll pay a premium unless the market is rising sharply.
I'd be looking at how much land is available for release……
At the end of the day it's demand verses supply.
I know there is a lot of talk about extending the ports' facilities but I'd want to examine workers needed during construction phase against what's required during operation of the ports facilities.
At the present time the vacancy rates a little high according to your research when do you expect this to begin reducing?
What has your research told you so far?
Jack
wakebrownb wrote:Hi Jack, thanks for the reply. Yes I agree with what you are saying. Also living here in Emerald I see first hand what is happening too which is beneficial.Bang-on mate! Ride the wave!
Have you got some equity you could use to complete the renovations?
Freckle wrote:Dubstep wrote:Freckle, They are coming for you !I know. I have an exit strategy
LOL…..they'll never take the Freckle alive!
I've got a couple of properties in Emerald. One up on Esmond Street and one on the southern side.
As you would know Emerald experienced some good growth last year and since then the market has softened and come back a little. This is due to a number of reasons I'm sure you're probably aware of as you're in the market yourself.
I think Emerald has some tremendous upside. There is some significant investment to come in the area and the town is very well placed to leverage of what is about to occur in the Galilee Basin. IMHO I think the long term fundamentals are incredibly strong.
I don't think the market at the moment is right for trying to off-load a property. If it was the case you decided to sell I'd wait until the next upturn in the market. It got pretty hot last year and buyers were scrambling to get in the market and some properties went for more than they should have…..
Hope this helps mate,
Jack
Bring the heat now baby…!
Rise markets rise….Abracadabra….
Give me some sweet equity….
Hi Cal…..
It’s great to see you have set yourself some goals and are working on a strategy to achieve those goals.
When we began our investing journey, we had no goals or no ‘road map’ to get us to those goals so you are ahead of the game already. Since those early days we have developed our strategies to achieve our goals and we constantly look at ways of expediting the process.
I agree with Richard and Jacqui, cashflow is to your business what blood is to your body. We invest for cashflow and select areas that have those growth drivers to support capital growth. I whole heartedly agree with Richard, I would stay well clear of off-the-plan especially in Melbourne at the moment.
I found that as I progressed along the road the more inspired I became to achieve my goals. The more inspired and focused I became the more I appeared to attract ‘things’ into my life to support me and drive me towards my goals. It’s an incredibly rewarding and exciting experience to meet and get to know people who…I think see the fire burning in you and support you in achieving your dreams.
All the very best mate,
Jack
Life insurance and disability plus trauma insurance is essential IMHO.
Our whole family including the children are insured.
If something were to happen to me or my wife there would be sufficient funds to payout our entire portfolio.
Gives me sleep at night comfort that if something did happen to me on or off the job my wife and children would never have to be concerned about money again.
Some of our insurance premiums are paid out through our smsf making less dent in our cashflow.
Jack
Nigel Kibel wrote:You need enough Death insurance to cover all your debts and some future costs such as private school education. 1.5 million is good I think the average is about $200,000 so there is a dramatic case of under insuranceAgree Nigel, $200,000 is grossly underinsured….!
