Forum Replies Created
The only people that have a problem about people who have money are the ones that don’t have any.
Good uses where money goes is;
Churches
Father Chris Riley
Cancer research
Education etc etcYou see if you don’t have it you can’t give it and the whole world will collapse
resi
I’m with dereck too, reduse debt on PP and invest with strong cash flow…
resi
On the GST question, if there is a five year rental guarantee in place then the agent is responsible to ensure that the tennant is GST regristered.
I would also ask for a personal guarantee as the out goings are covered in the 245.00 actually I personally think that a 128s/m property should be higher that this.
resiwealth
Yep good advise from Dazz & Simon … in the mean time seek out a certifier (local) to front the council and see what the potential is.
allow for the costs of storm water and detention basins as they are very costly. On a 2 storey house allow $50,000 extra, very hard to add this to the value in the end product.
resiwealth
GET LEGAL ADVISE … and read previous posts on this topic as it has been well covered.
resi
Hi Roy, heed the roar of the distant drums …
Yes but!!!!!!! if you read the Fin Review on Saturday you would have seen the terrible debt that young australians are into.
We are the WORST per head of population in the WORLD for debt, come on guys some thing has to give.
I am a positive person but I have also experienced 19% interest rates. JS is saying that if the rates went up to 10% tomorrow a big piece of the population will fall.
All I can say is put me on record because there has to be a turn soon some where.
resiwealth
Hi Dazz
I have just completed and sold down a 35 lot sub-division in Crestmead QLD.
Next year I am working on cutting a hill side block (130acres) in half which over looks Laguna resort in the Whitsundays.
It is 600m back from the water front and 30 – 80m above sea level with 270 degree water views looking out to Hamilton and Linderman (club med) islands.
This half is planned for very upmarket prestigue home sites. One of my architects is designing a 100sq home with a helipad on the roof, some thing different to attract the right crowd, not GR.
The 50 odd acres should yield about 40 – 50 home sites, question is how much is a million dollar view really worth today?
resiwealth
Sorry Dazz I just had to reply to this ….. because it once again makes no sence which is consistant with the author.
Resiwealth
Hi Dazz … no I don’t think so but after being through a rough time in 1990 – 1994 one becomes a little more careful. Luckerly I have sold all my development stock and will have all the money in by june 30 06.
I believe in the lower end stock as bread and butter 4 me and my group although I am working on a 300mil site in the whitsundays for the near future.
I think that demand in this lower end will not deminish.
I think that the building prices are also about to go for another rise because of the building labour costs rising.
I think that we are in for a shock over the next 6 months that unless we get some serious rain rural towns will be closed down. Several shires in QLD r saying they only have 6mths of water left. What effect will this have???
The new regulations with water retention and detention are adding 30k for a single storey house and 50k for a two storey house in SYD, so how can you factor this onto the cost or value of a new property is beyond me … big problem for first home owners!!!
In summary I am thinking that I will be crossing my t’s and dotting my i’s with extra research before I jump in – however i still favour property over shares and love duplexes and small multipurpose sites as great money spinners.
resiwealth[exhappy]
Do you think that being in one area you could feel comfortable to change to another.
resiwealth
If you are new to investing over the last 4 years and have not been through a property down turn you are in for a surprise.
If you have geared your investments over 90% IMHO you should be very concerned especially if the interest rates rise by 1%
I had a loan in 1991 of 250k and the interest rate was 19.33% the only difference from then to now was there was more equity.
I have been concerned that over the last few years all these gurus have been saying gear up to 100% for max effect. Australia credit debt is over 30 billion dollars – HELLO out there are you listening?
There is a correction happening and the bottom is still a way to go. As far as the advise that JS was giving IMHO I think it was very responsible, only if you listen – But lets see who the smart ones are now.
What about the comments about the “investors club”
Fact – interest rates will rise even further
Fact – demand is still there
Fact – the cost of building is rising
Fact – there will be some bargins coming up
Fact – developers on the high end are dropping their prices
Fact – more research and good advise is needed.
resiwealth
Hi Giggles,
There are not two groups by the same name that i am aware of – wealth4women.com – is soon to be launched in Australia along with two other .com names accessing the same site.
The site will not be focused on one area of investing but rather to capture a wider group aged from 7 – 70 male and female.
The site will have access to licienced qualified independant alliance partners who will be chosen for their area of expertise. It will not focus on one particular area of investing but rather provide information on a wider scope of property and financial services.
Mental Health is one of the biggest costs in Australia today and growing – lonelieness – depression – sadness – self esteem – etc and these areas are all linked to money associated problems. N.Hill said “think and grow rich” but how can this happen if your thinking is not in the right order?
So the girls/women of WWW are to have a battle with the ASIC who i thought were corp, and I would have thought that the ACCC would be better suited but not reading or knowing the facts i can’t comment any further.
resiwealth
Hi Roy and thanks for the article, what is your opinion on the Syd market, has it bottomed yet.
Things have quietened all over but Perth and QLD still seem ok is that your view from your research department?
resiwealth
I would pay everything into this investment property that I could afford to do. When the times comes to buy a PPOR I would refinance then revalue the investment property.
I would use a split loan and claim the total value of the IP with the interest portion only. depending on the age of the property i would get tax advise on this and not rely here for that.
Work smarter.
resi
GR the answer to your question is no they have nothing to do with www
resi
I like to stand at the back of the room so the other people bidding can’t see me.
resiwealth
they look like they are going to have a chat with both the accc ivc consumer affairs and are going there with channel 7 per the tele of the 28th page 61
interesting readingGross i have reread this a dozen times can u please translate this for me because it makes no sence – what does the ACCC have to do with this?
resiwealth[confused2]
Yes Roy they just keep taking the fun out of creative accounting, don’t they?
I read an article the other day that we pay 86% of our income on tax related goods and services … your shout mate!!!
resi
Hi don’t worry too much about the hidden costs when u r a developer, we work like this
Basic questions;
Land cost ?
Yield ?
Retail value ?
Development costs $60,000.00 per lot
Sales and marketing per lot $XXXXProfit yes/no
Do it yes/no
next pleaseresi
In Queensland we can produce a 4 bed house 16squares for $138,000.00 where on earth does $1100.00 per/m2 come from is beyond me unless the commission is very high.
Mike what is your commission back from the builder or is this a two storey price. We just completed a two storey Westminister 38 sq project home for $342,000.00 including ducted air (11 outlets) $45,000.00 water detention pitt, granite kitchen, marble floors to bathrooms and ensuite, two storey, 5 beds, turn key etc etc that works out at $900 s/m in Sydney.
Or is it that Melbourne is just that expensive, as i said on other posts we build in QLD turn key with air and all the bells and wistles at $750 s/m
resiwealth – i’m confused
