Forum Replies Created
I am glad someone has something positive to say!
Thanks for your + input and support Pisces.
We are off to the bush now and I am sure we can find some time to see a few house’s and lumps of dirt and fit in quite a few schooners all at the same time!“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Originally posted by wrappack:My 22c worth. (11 times more than usual!)
Price will always come down to supply and demand. Carrs new tax will increase supply (in my neighbourhood, for sale signs have popped up everywhere, people want to sell prior to july) and demand will have to drop (investing today is a totally different climate from 12 months, or even one month ago). when supply increases, and demand decreases, prices must fall. Yes, there are some who can wait (almost forever) to sell, but for most, a price lower or much lower than expected can probably be expected.
I think that carrs tax will screw him and nsw for a number of reasons.
Firstly, the moronic fools in treasury have counted up how many houses were sold in the last 12 months (in a red hot frenzy), and have then assumed that the same will be sold again in the next 12 months, and a 2.25% bonanza windfall will go to the govt.
But, the new exit stamp duty (and land tax) will fundamentally change the way that investments will be made. Buy and hold will become a lot more promising than buynrenonsell and buyndevelopnsell.
Those of you following my other threads may know that I have been very keen on doing a duplex development, which if successful, would keep doing more and more. Found a site, perfect, and the numbers crunch quite well. Enter car, enter a different climate, particularly in 2-3 years time. Enter skepticism, and my plans are on the outer, and I will either i) sit on the fence (like most of nsw) or ii) go to qld and try something.
You see, carr has just lost the 18K in stamp duty that I was happy to pay him just a month ago, and the turnover of properties will plummet. I think that is the reason for the increase in the land tax, to slug all property owners, those buy and hold strategies I was referring to before.
So, plateau or correction, or a plummet? Hard to say, but with yields at an all time low, units an dtown houses being almost untenantable, it will be an interesting ride in the years to come.
And as for the ‘opportunity is just around the corner’ people, I will be waiting for the prices to drop, then stabilise, then slightly increase again before buying. That could be a couple of months, or a few years
What do we get for 44 cents? Just kidding, I like your logic[cigar]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Originally posted by RussH:I,ve been on a pension for the last few years and I hated being at home everyday.Always looking for something to do.Built a shed put in new gardens did some paving blah blah.Even built a mobile home.Twice now.
Enjoy your time at being constructive because most people find that what they think they want is not what they want at all.
If you are a real go getter in life you wouldnt be able to retire anyway.Its just not in the personality.Spot on Russ[lmao]
Whowants to retire? Thats what they do to old race horses, and look were they end up….in the bloody mincer[ohno]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
One word mate “envirocycle” its already making its mark in some Sydney suburbs by law.
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Originally posted by yack:<<<and was only on the net for a week and was sold for 360k>>>
Depends where. But I find it hard to believe. You can buy an older style house in my area for that price, in Melbourne bayside surburbs for $360k that is about 5-10 mins casual walk to the beach and station and about 25kms from city.
So why would you pay that much for a rural property.
I dont know Yack, maybe you should ask them……….[blink]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Quote:Originally posted by Pisces:It looks as if Mysta is saying that he sees an opportunity here.
However, unless one is a builder, I doubt there is. (Even then I have my doubts).
Anyway Mysta, I have no idea what you mean by ‘regional towns’. What size population ?
================================================================
Around 7 to 12k pop towns, regional = 350+Klms from Metro area’s.
Why would you have reason to doubt what I have stated?
The only cost associated problem I can forsee is getting materials and a few trades there, that may add extra cost to a new dwelling in Regional area’s and transport of goods but I have the truck.I can construct a new home from scratch except for Bricks, Concreting, Plumbing and Sparkie work.
If these trades were to costly I could supplement this process and construct the footings using peirs and uni strutts with timber flooring and use blueboard, cladding or Hebel for external walls instead of brick.I have crunched the numbers and if Block = 50k and house = 150k sale prices are 360k then what else is there? Build it live in it sell it (None for you Bob)
There’s an old car yard saying “there’s a bum for every seat” by that I mean most people have a concept of small towns having relatively low prices and this can be true to some extent, but I have seen prices for some homes in the bush going for near the same money as some outer Sydney metro homes as well.
So I guess I will have to show some spirit and just be an Aussie and have a go ya mug![thumbsup2]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
God’s Country, I think its a miracle we were even born on this planet!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
I guess its getting harder, as you guys said, and I suppose writing a best selling book on how to get 130 house’s in under 4 years doesn’t make it any easier[blink]
I just get a bit to caught up in it all and when something excites me like all the info on this forum I start to put the blinkers on and jump[withstupid]
Needless to say I have calmed down a bit and after talking to a good mate of mine who works in the FP industry (his company is endorsed on this site http://www.dollarforce.com.au)(free plug mate) I have come to the conclusion that focusing soley on +CFP is not the way to go.
I have to do the KFC combo pack and stop beating myself up, you know, throw some dosh at my home improvement business get some decent shares etc. I have 450k that the bank wants to give me and one year to spend it in but I dont want to put another noose around my neck either.
Having heaps of these little cash+ numbers sounds enticing but the reality is that you can soon go from property investor to property manager real quick, I have a one or two and that’s enough of a pain in the arse!
Anywayz, thanks for your humble advice guys I think your all legends and I will see you at the TOP![lmao]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Give Simon a call matey!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
I have seen heaps in the local papers. Maybe worth a looksee….[blink]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Were does that leave me Kay? im just desperately mad as a cut snake!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
Originally posted by a_workaholic:Have to ask…..what’s a plasma tv…..thought the flat screen tv’s were the in thing….shheeesh ….
There like thousands of fibre optic cables facing you, when one burns out you end up with a spot (similar to one pixle) you can live with.
The trouble is when a few start to go its like a hard night on the booze!
If you are going to spend those kinds of bucks then go for LCD or Digital Projector, far more reliable and far less expensive….[blink] (actually a good LCD is more $ than plasma)
Go ebay if you want toys not HN
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
We are all our own worst enemies………who will save us from ourselves? Sucking the last breath from our wonderfull island oasis in the voids of space? nowhere left to go from here.
1 billion people at the turn of the century 25 billion at the next!
We are polutants of the planet…………the human race…………
Dont get me started on inequality!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
PS: The 2 year rent grte is already built into the price coming out of your pocket!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
If they are just pushing off the plan “yawn” stuff, well I would start surfing the net for some facts.
There are plenty of other ways to get good returns without making some plan pushers pocket any bigger than it already is.
Do your hard yards mate and use the commission they would have got on a holiday to Vanuatu!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
I guess everyone’s looking for something.some pay amazing amounts of cash just to find out they were born with the answer to life………its inside and its called happy[biggrin]
“Even though you may be on the right track, you can still get run over if you sit there long enough”[blink]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Originally posted by Tim:OK I am in Nth NSW and everybody has of course heard of Byron Bay but further north closer to the boarder, Cabarita Beach, Hastings Point and Potssville are headed for big development down the track.
The biggest development (which is just north of all those areas is Salt, here are some great aerials from the main web site which is http://www.saltvillage.com.au
(BTW I am not investing in this and am not recommending it or otherwise just commenting on the scale of it)
Timbo
I have done some building work around there, and Cabarita has gone ballistic, one of the highest CG in Oz![blink]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Sorry Luc and fellow board members if I have offended you, just getting hot under the collar and blowing my own hot air.
Things are getting scarce………
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Originally posted by Pisces:>>In 15 years it is likely they will have either refinanced and paid you out or will have sold the property.<<
If I were to do a wrap (and I doubt I ever will) I would want to see the property transferred out of my name within five years or so.
I think Lawrence summed it up pretty well when he said : “wrapping properties in the areas I speak of is difficult. They are awesome for having a property pay itself off , but difficult to sell.. i.e. a house on an acre of land in the middle of a town of 400 people. Sold for 14,000 and rent is 50 dollars a week. thus in only 5 years you have 14,000 with minimal effort, and a bank manager eager to lend you more money. BUT it took 3 YEARS to sell the property. See the dilemma. There are often no capital gains in the places I speak of.”
That is such a significant statement that I don’t feel I am wasting your time by repeating it.
In fact I will hang this statement on the wall in front of my desk just to remind me if ever I get infected with wrapping enthusiasm.
After all who wants a paltry $ 50 a week (if we are fortunate enough to have a tenant in the property that is) if after some years all that surplus is eaten up by repairs.
What does it cost to rewire a house ?
What about the cost of roof repair ?
What about the cost of repainting when we need to fill the house with a new tenant ?
The whole wrapping situation for $ 50 K houses is a mirage, a self imposed hoax.
There are no shortcuts to wealth. In this country, in major cities, there WILL be a steady increase in values over a period of some years. What more do you want as a formula to make money ?
Besides, as PurpleKiss says : “How long will it take to find a tenant (in a population of 400 people – or 4,000 for that matter) ?
Pisces
The only way to go if you are buying these little humpies in the back of beyond is to do some building courses and turn your +CF IP’s into a full time career. You still have to work to retire comfotably unless your a lotto winner.
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
I am a builder by trade and I can tell you that some of these little doll houses can be a pain.
If the skeleton is good it doesnt matter about the roof and walls.
If any of you guys needs some major reno in Regional NSW mail me! It might not be as bad[cowboy2] as you think!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
