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  • Profile photo of schmooschmoo
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    @schmoo
    Join Date: 2012
    Post Count: 11
    June 6, 2012 - 9:28 am

    Hi Taxdiva,

    I’m looking at doing the same thing, however I’m not tied to any particular fund. I’m very new to all of this so have many questions that I know of and questions I don’t even know I have yet :-)
    I tried to PM you but your profile is not accepting emails.

    I’m wondering how expensive is fairly expensive to set up and maintain, and what happens, if for example, the property market crashes and your fund goes into the red? Or if you are dependant on rental income and you can’t find a tenant. I imagine there are penalties?

    I can see what the advantages are but wondering what the drawbacks might be…?

    Thanks in advance.

    Profile photo of schmooschmoo
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    @schmoo
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    Post Count: 11
    May 11, 2012 - 12:04 am

    Shaky times for mining??

    Contracts being cancelled for the China First coal mine – the biggest plan on the books.

    What does this mean for Emerald, Alpha and surrounds?

    http://www.brisbanetimes.com.au/business/palmer-project-under-pressure-after-40b-purchase-contract-cancelled-20120510-1yfpc.html

    Any thoughts?

    Profile photo of schmooschmoo
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    @schmoo
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    Post Count: 11
    May 11, 2012 - 12:03 am

    Shaky times for mining??

    Contracts being cancelled for the China First coal mine – the biggest plan on the books.

    What does this mean for Emerald, Alpha and surrounds?

    http://www.brisbanetimes.com.au/business/palmer-project-under-pressure-after-40b-purchase-contract-cancelled-20120510-1yfpc.html

    Any thoughts?

    Profile photo of schmooschmoo
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    @schmoo
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    Post Count: 11
    April 25, 2012 - 11:22 pm

    Hi,

    GIO, AAMI, and SUNCORP will NOT insure on a new build in Emerald.
    Does anyone have any other options or suggestions as to who might insure?

    Thanks

    Profile photo of schmooschmoo
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    @schmoo
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    April 10, 2012 - 5:00 am

    Has anyone bought recently in Emerald? How are the bank valuations going there when it comes to getting finance? Are they valuing the houses much lower like they were in more high risk areas like Moranbah?

    Profile photo of schmooschmoo
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    @schmoo
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    March 28, 2012 - 12:57 am

    I heard a rumour that prices have dropped by 30% in Moranbah and surrounding areas. Is this true?

    I’m about to sign on the dotted line for a place in Moranbah and reading this thread is making me think twice and looking more towards Mackay for coastal living and more diversity and growth, or Emerald as a more affordable option.

    The trouble is… neither of these provide the cashflow to enable further investing in the short term.

    Profile photo of schmooschmoo
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    @schmoo
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    Post Count: 11
    February 6, 2012 - 12:15 am

    I see that the new ULDA housing project has been launched in Moranbah.
    http://www.dailymercury.com.au/story/2012/02/03/housing-project-launched-bushlark-grove/

    With a bunch of new houses coming on the market in 6 months, this will provide some relief for renters.
    I’m concerned, as an investor it will impact existing rent prices? Also, I’m sure a new house would be much more rentable and attractive than an old Queenslander on a bigger block?

    Also, in regards to the high demand for rentals in Moranbah, does anyone know if there is a waiting list for rental houses?
    What’s the average time on the market of these rentals as they do appear to hang around for a while on RealEstate.com.au

    Thanks.

    Profile photo of schmooschmoo
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    @schmoo
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    January 23, 2012 - 12:22 am

    Why would there be 67 properties for rent in Moranbah when there is supposed to be high demand for rental properties? The rental prices are still high.

    Profile photo of schmooschmoo
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    @schmoo
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    January 13, 2012 - 2:40 am
    Qlds007 wrote:
    Hi Schmoo

    In essence the figure would be

    Net sale price say $340,000 (After agents fees etc) minus

    Original purchase price after Increased adjustment for stamp duty paid and decreased adjustment for Capital Allowance previously claimed. Assume – $290,000 anyway.

    Capital Gain = $50,000 / 2 = $25,000.

    Assuming you had held the property for > 365 days then you would qualify for the concessional rate so 50% of $25,000 = $12,500.

    Tax on $12,500 x 40% = $5000.

    Cheers

    Yours in Finance

    Thank you for clarifying that for me!

    It will keep my expectations realistic :-)

    I’m going to use that profit towards re-investing in a higher growth area with some positive cash flow this time… Fingers crossed.

    Profile photo of schmooschmoo
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    @schmoo
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    January 9, 2012 - 3:03 am

    Hi and thank you for an interesting and informative thread!

    I'm a Sydney investor with a couple of blue chip negatively geared properties with steady long term capital growth projections. I've also a house in Melbourne and a house in the Gold Coast.  All are long term investment strategies.

    I'm in need of some CF+ additions to the portfolio so I'm starting to look at the regional Qld mining areas.  The idea is more of a short term (5 yrs) strategy to generate some cashflow until the other properties start to come into their own. Short term capital growth is always a bonus.

    Is it too late to enter into Moranbah, and will the huge proposed MAC Camp affect the rental demands and yields? Would Dysart be a better option?  The houses are already overpriced there and I was quoted $850k approx for a regular 4X2X2 house.  Also, which areas in the town are better to invest in? Does anyone have any reservations in entering into this at this time?

    Thanks and looking forward to your feedback. :-)

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