If neg gearing is abolished, which is extremely unlikely imho, it is even more unlikely that the change will be retrospective.

It wasn’t last time and I can see no way on earth that it would be this time. Therefore, it wont effect the properties you already own.

The other thing that people should probably recognise is that Steve has not bought 130 properties on his own. He has a partner, Dave.

In comparison, it is probably more fair to say that he has bought 65 properties in 3.5 years, being his 50% share.

If you know what I mean. []

Clint, a couple of basic questions first.

1. What areas in Qld do you propose to look at?

2. Do you have a ball park figure for the spotters fee?

3. Will the fee be payable on release of the info or on successful purchase?

quote:
I also look at it in a pragmatic point of view. 3.5 years ago he started his venture. He has made significant money, but being a prudent business person I am sure he saw that the property market was slowing and exceptional deals were getting to hard to come by.

Steve throughout his book is an advocate for making money with least effort.…

[Read more]

I’m with rod on the above statement.

In residential melbourne prices mostly stagnated, and there was some minor decrease in some areas but nowhere near a 30% drop.

Me too.

It’s dead set frightening to see the prices of houses in the major country towns in Victoria as compared to 2-3 years ago.

The locals shake their heads in disbelief.

Having said that, my guess is that the property prices will not drop much in those towns when the bubble deflates, but there could be some stagnant prices for a number of years.

Go Pies!!

Where in Northern WA?

In a nutshell, Broome is essentially a tourim town with some industry. It is absolutely booming and has been for 12 months or so. More a CG place than a pos cashflow.

Karratha and Port Hedland are mining/industry towns with big rental returns and fluctuating CG. Both are booming but are dependent on the state of the local…[Read more]

Can you guys actually read that post?

I agree Nats.

I think that it is a self serving piece of advise by Henman.

Fancy a man with multiple national agencies that are against auctions and only sell by negototion recommending that course of action.

rolls eyes

I need your email Shelley. []

BTW, with a name like Brad Sugars are you sure he didn’t make all his money making porn?

IMHO $10k for a seminar is insane.

What’s he teach? The secrets of alchemy?

That’s great Shelley.

Can you please shoot me an email with your details etc so that I can let the Quantity Surveyor know.

Email me at bkw319@hotmail.com

p.s Does your friend up there require a QS for his/her property?

I have found through experience that emails are useless as most agents are far to rude to bother replying.

Unfortunately, phoning them up is the only way, or if you’re in the area you can drop in and se them.

I’ll bet you a thousand bucks that when the boom goes off those lazy buggers will reply to your emails in 10 seconds flat!

The real FACT is that there is absolutley no need for any rise in interest rates at the moment. In fact, based on the underlying economic situation a cut is more indicated. However, the RBA will not cut rates due to concern over the real estate boom.

The RBA keeps putting out these statements to warn people and basically to scare people into…[Read more]

Just bought a 3 bedder with a big pool there for $280k, rents for $370 per week in the suburb of Cable Beach.

There has been 30% capital gain in Broome in the last 12 months and no signs of an easing up.

Richmond knows what a BUMP is. [8D]

damn those BUMPs. []

Anyone interested?

Thanks bj but the property sold a few days ago before the planned inspection anyway.

Thanks for the kind offer though! []