Imagine what would happen if every Tom Dick and Harry set about doing 0 to 130 properties in 3.5!
What do you think might happen??? There would be a festering and what do you think it might do for genuine persons struggling to find a home, hence low home ownership. And this practice thanks to Mr McKnight 0 to 130 is causing all this !!!Face it they are unreal! Do you think a nation of greedy Landlords might resolve social tensions! I hope labour will abolish this thing soon. Also the government is about to review the Depreciation on investment property. That will blow up investing for good in property. !!![baaa]VIP, I’m wondering why it is you are so bitter?
You’ve either bought the book, or found this website which suggests you are interested in property investment, yet in the two posts I have read from you you are very unhappy about people buying properties!!!
I reckon you wouldn’t find more than 1 or 2 of the 30000+ members on this site actually planning on owning 130 properties, let alone in 3.5 years.
What is it you want labour to abolish? Owning IPs? Negative gearing? If it’s negative gearing, I think you’ll find there are a lot of investors who would be happy about that – especially the proponents of positive gearing, who don’t make losses anyway.
The government ‘reviewing’ things doesn’t mean diddly squat!! Once again, how many pollies do you reckon have investments, trusts, etc. etc. Even if they do change ‘the rules’, somebody or their accountant/solicitor will find another way to make even more money.
Cheers
MelHi VIP,
you seem to be very anti towards property investors…. [thumbsdownanim… but if not for the investors, who do you think would provide a roof over every person who doesnt own a place, i cant imagine the goverment doing so…
and if Labour gets in, and abolishes -ve gearing, which wont happen again, do you think rents would still stay the same…
… give it a couple of weeks to a few short months and people will be paying more in rent and wont get that chance of ever owning their own home…
it a perfect world, it would be great, but in reality, this isnt a perfect world and with many of the politicans, owning property, they will seek to look after their best interest first…
Cheers,
sisOriginally posted by melbear:I reckon you wouldn’t find more than 1 or 2 of the 30000+ members on this site actually planning on owning 130 properties, let alone in 3.5 years.
Hey Mel,
im planing on owning 100’s and 100’s of properties…
lol… isnt that the idea of property investing…
Cheers,
sisI`m interested in this topic cause it`s something I`ve given a lot of thought to and I did at one time tend to agree with this point of view.
But of course everyone can`t own 130 houses, at some point supply and demand comes into effect, after all if there is an oversupply of rental properties the tenants will get the last laugh.
But I also believe that the more people that run businesses or attain wealth, and generate business the better for the rest, I think the general standard of living is raised for all, but still there must be more than a little thought given to those “have nots”.
I don`t think it would benefit society too much too have too wide a gap between the rich and the poor.…if there is an oversupply of rental properties the tenants will get the last laugh.
Doesn’t Steve say he rents in the book?
Wow, you can have your cake and eat it too!!
James
Originally posted by VIP:Also the government is about to review the Depreciation on investment property. That will blow up investing for good in property. !!![baaa]
hehe- come on guys- don’t be so hard on VIP- his post is fuuuuuunny- particularly the part I quoted- is VIP *really* Ted Bullpit?? Ahhh, ya godda laugh…
VIP- don’t worry- Steve doesn’t own 130 properties. The wrappees he sold the properties to own them. Steve put them into their own homes. VIP, it is unlikely any person in Australia would own 130 properties in such a short time. Your fears are unfounded.
I do like your use of the word “festering”, VIP- now THAT is a word that one seldom hears. [biggrin] Is that the sound of irony I hear on your cheeky post?
kay henry
Kinda makes ya wonder, given that the govt hasnt got enough housing for those on the dept housing waiting list, last I looked it was a 8 year wait, but that was 10 years ago.
Given this, they turn to private rentals, subsidised rents to low income people, or those on benefits who in many cases would find it hard to own their own home, some aspire and make it, others have no intention of doing so, heck why would they when in many cases the water rates are paid, the reparis are done, the rentals are cheap (based on your income)- but like I said they cant meet the demand……..
I hardly think the govt would do too much to kill off the investor that provides rental accommodation for the tenants they cant manage!
What investors sell up and move into what gold?Dont think so, might free up the houses, might drop the market, might have oversupply, might make a squillion on CGT, but then what? Oh golly no millions from stamp duty!
dont worry they get us all at some time…..
elves
dont worry they get us all at some time…..And with a misquote here & a fudging of figures there, we can get back at them too…….
and you dont think we dont already pay for that?
think they factored a few things in already [evil4] called the ATO
Originally posted by elves:and you dont think we dont already pay for that?
Yeah, I think its called Stamp Duty on GST!!!
[jerry]
hey isnt Kochie onto this?
I remember they wanted to bring in GST, and I recall all those lovely people at the ATO being trained for the call centres….many left. Trouble is the lego on GST was so complicated even the staff had problems working it out.As for stamp duty, its a rip off, but what can you do? But I am tired of the double dips…
To really think that everyone could own 130 properties is a fools paradise. Nearly everyone could buy 130 properties, but most people don’t want too, just as most people don’t want to be independently wealthy….
>”Also the government is about to review the Depreciation on investment property. That will blow up investing for good in property!”
It will mean nothing to me. I have got all my investments cashflow positive… But even if it did – do you think I can get on a plane and head over to another state and/or country?? Hell even if I do pay a little more tax, it will still be very low compare to employes.
>”Imagine what would happen if every Tom Dick and Harry set about doing 0 to 130 properties in 3.5! What do you think might happen??? There would be a festering and what do you think it might do for genuine persons struggling to find a home, hence low home ownership. And this practice thanks to Mr McKnight 0 to 130 is causing all this !!!Face it they are unreal!”
Do you think investors stop people on pensions from buying homes – or do you think it is the banks? Which require huge deposits from them??? Have you ever herd of Lease Options? Do you know why they are mostly used? Because renters can get rent assistance and still have the opportunity own their own home. Thanks to us Investors, these people whom would be almost instantly denied by the banks are able to have a house to call their own.
>”Do you think a nation of greedy Landlords might resolve social tensions!”
You call us greedy? Why? I could suggest you are greedy! I am helping more people put a roof over their head than you… I am making sure that rental stock remains robust. I could suggest you have been the greedy one… all you might have done is simply put a roof over your head?? Well what about the family next door??? What happens if they can’t pay a mortgage??? What throw them out on the street??? But I guess us greedy landlords are stopping that…..
I think it would be much better for the government to teach financial education in school. Do you know how powerful economy we would become if it was mandatory to read “if you want to be rich and happy, don’t go to school?”, rather than try to save people from the greedy landlord….
I guess you see everyone who opens a business (and place their, Not your, assets on the line) as greedy… Hell they could potentially go bankrupt but they are the greedy ones, because they are willing to forgo the money now (which employees demand) because they believe and have faith in the fact the pay off will be bigger at the end (which might or might never happen).
Well PM me if you ever change. This greedy landlord will give his knowledge to help you for free….
Rgds.
Lucifer_au
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