>>If you’d like Steve’s MAP protege living in NZ to leverage your time and find the deals to build your portfolio quickly, just ask me!)
<<Well, in the interest of an informed decision what is the difference between yourself and people like Westan and Minnie ?
Lower fees ? Better type of properties ? Provide
guest facilities ? (Breakfast in bed ?) [wink]Pisces
Hi All,
First post ever to this site! I watched the news last night and being a NSW property investor, had to smile [biggrin]
I remember John Burley talking about people who don’t know what they are doing in the share market and calling them “pigs”. They buy at the wrong times and sell at the wrong times – its great.
I think this has become the best news for our business ever! How many people now are running to the real estate agents now saying SELL SELL SELL? The market in Sydney has already slowed down and the amount of vendors telling me they will leave 20-30% in the deal is increasing all the time!
I can almost taste those 50-60 cents in the dollar deals coming up. I see more and more flexible and motivated vendors funding our second mortgage at zero to low interest only rates for long periods of time.
I love this business!
Sincerely,
Dallas & Kerrie Kelso
W: http://www.WeBuyHomes.com.au
E: [email protected]Hi All
As a substantial NSW investor I see the change in Land tax as positive for landlords.
I am already paying substantial land tax and although I haven’t sat down the work out the difference I suspect there will be negligable difference under this new regime.
What it has done is leveled the playing field for all other investors (read my competion) who compete for tenants in the rental market. Prior to this change my rents could not reflect the landtax component of my costs due to market forces whereas now with every landlord affected there will be an overall tendency to try and recover the land tax via higher rents.
Just to throw the cat amongst the pigeons maybe a state rates should be applied to all home owners in a simmilar way as council rates. Although I agree with the point made by Steve re irresponsible spending by government, the simple matter is that the state still needs to raise revenue and all people in the state should contribute towards the upkeep of the state.
The application of a land tax to investors only will in the long run only apply to the % of the pop that are renters so in actual fact it is fair that a land tax (State rate ) should apply to all so that in the end everybody either directly or indirectly is contributing to the upkeep of the state.
A link for further reading on land tax follows
http://www.dlslawyers.com/land_tax.htm
Cheers
Kiwi Kiwi Kiwi OiOiOi[biggrin]
It is only a matter of time before other states follow this line – we need to think four dimentinal on this one.
[email protected] [upsidedown]
I’ve ranted and raved on a previous similar post so I will refrain here.
I am about to exchange on a property in regional NSW and one in WA. The WA property looks mighty fine at the present.
Knowing how greedy both the WA and QLD state governments are, I dare say it will spread in time.
‘Eat rich food, barbeque a yuppie’ [greedy]
Well Like someone posted re Penrith Council, I have fought blue mts with a land development and also on a business level, so I am apt to take action. I am also currently fighting with the federal govt over a work issue with a group of workers…even though we dont think we will win our battle we are a minority because the majority never do anything.
They whinge and complain about no one doing anything and about what they dont like, I hear Ya pisces! How many times have we heard the saying put your money where your mouth is?
Well I posted elsewhere about my anger on this subject and what I thought it would do. I also suggested write and give em something else to think of!
So what has anyone done so far besides whinged? Have you contacted your local members? have you bothered with Carr’s office? Well if you say nothing to them they wont know will they?
So expend your engergies, but direct it also from here to there. I would like to thnk we can make changes, if we can’t at least we have made the effort.
Elves
PS Pisces I have tried numerous times to contact you and have had no reply to PM, re post you had “where is elves”
Cheers
” a blind man may see what a sighted man may not”
Its on the news now about the investors flocking to sell, esp mums and dads, says that up north are waiting for us!
It also mentioned NZ, but couldnt hear that too well from here
They reckon there is rental glut and this will keep us all fair if we hold and try to hike up the rents
” a blind man may see what a sighted man may not”
I must say, I’m surprised at Steve and everyone else yelling Doom and Gloom from the rooftops…
People will always need a place to live, so, there will always be demand……
It seems there’s a herd mentality here,[baaa] and, I think to myself… Hmmmmmm opportunities !!!!! [cap]
I may be wrong, but I tend to look at this as a hiccup..( a large one ) and once the dust settles, people will work around this in varied ways…..
I feel demand will always be there for certain places in NSW…. If rents go up, then fine… we may see more +CF properties surfacing to the top……. and they’d be long term holds….
my 2 cents worth…
Cheers
Scott
I tend to agree with you Pelican
I do think that this could tern out to be an opportunity for the smart investor.
on the other finger serious investors never sell property unless its a dog that needs to be cut loose
And if you never sell you never pay!!As a famous NZ property investor says “Things are never as they seem”
steve,
when you say ‘farm’. what is meant by this? size? the definition, what is produced on it? does it have to have a house on it?
thanks[handlebars],
frank y[cigar]
Pisces, elves,
Good Luck fighting for change. You are jumping into the cycle of revolution that range from times of hardship to times of comfort .
This country is in comfort mode where inaction and apathy rule.And gov’t regs evoke only mild responses.Have you considered making your properties a separate country. I have heard of a guy doing this in the gippsland area, don’t know details. All we would need would be a barter system for dealing props, and visas for renters.
Just an idea, you will have to get really creative to beat the lounge and tv controlled mentality. hope this helps.
Or sell all ya ips quick, and buy your own tv and couch company. Control the couches, and you control the couch potatoes, control the couch potatoes and you control the remotes, control the……………………………and then you get the power.
[biggrin]
lifexperience
Hi All,
Our direct marketing to sellers has always landed us great no money down deals. All the people who want to sell up is just fine with me.
I now have a feeling that once we do our next round of marketing, that I will not be able to buy all the opportunities that become available because of the volume.
Please let me know if you would be interested in sharing any no money down deals (would also get the seller to pay stamp duty). More then happy to share this with other like minded investors while all the other investors start the end of year sale [biggrin]
Just email us if you would be interested, and what priced house you could afford to buy if/when the deals become available.
Sincerely,
Dallas & Kerrie Kelso
W: http://www.WeBuyHomes.com.au
E: [email protected]It seems to me that a majority of people seem to be saying SELL SELL SELL if you have a ip in NSW.
These must be the same people who wait for everybody to tell them there is a property boom and then they will buy!
As some of the smarter investors on this forum have said opportunities arise in these situations not problems.
I agree that the stamp duty is a bit of a low blow but if we all bought BEFORE the papers were saying that it is a property boom and not waited till every man and his dog were buying property then surely you have made good money and this stamp duty will barely touch the sides!For those who bought recently well i hopeyou did your homework and bought well or else you will be saying BYE BYE to most of your profit. You cant just buy property and make money just like that.
Cant see what the big fuss is about i think this ill get rid of the investors who are not real INVESTORS!
Sooner or later the man who wins is the man who thinks he can
I received an update from the NSW Property Owners Association this morning.
They intend lobbying the government and seeking clarification on some of the changes.
Their website is http://www.poa-nsw.com.au/
I would suggest that any one with a vested interest in property should be a member of a POA. The information I have received from them is invaluable.
Cheers,
Shushar“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
Hi All,
To add more to this. My Dad called me from QLD last night. He shared with me what happened back in the great depression.
He told me that their was many people standing around in Martin Place in the city, standing outside the banks with their bank books wanting their money. The banks were all shut. Walking around the same area were jewish business people (makes no difference if they were jewish of not) offering to buy peoples bank books.
All they needed to do for Eg. If their balance was 150 pounds, the business person would get them to sign and authorise a withdrawal for $150 pounds, and they would give them $90 pounds. They did this with massive volumes of real estate.
Oh, people all thought they were crooks etc, but the people who wanted money and wanted it now got what they wanted (even if they did not like the deal).
I think that if people are prepared to spot a great time for deals to happen, the same kinds of things will occur as mentioned above.
A few things are likely to happen now:
– Real Estate agents will get a massive listing frenzy
– Owner Occupiers will need to settle for less, because the “investors” will not be buying (except for the smart ones)
– The people who are there at the right time will make money even if they have none! Its a matter of knowing when there is a deal and making it happen.What part will you play?
Sincerely,
Dallas & Kerrie Kelso
W: http://www.WeBuyHomes.com.au
E: [email protected]The way I see it is that if the government has increased the cost of owning/investing in IP’s then in due time the market will cover those costs and in fact probably increase on them through additional rents and capital gain.
In the short term there will be panic, people will sell (why on earth would you sell?).
Rents increasing very soon I predict.
Tim
Tim,
People will probably still want to sell off the “non-performing” IP’s in their portfolio. Flogging off heavily negatively geared IP’s at the peak of a boom is not necessarily a bad thing
People may now, however, decide to keep those IP’s because of the new taxes. But many investors, including many on here, have sold IP’s so they can make different or better decisions about future IP’s. Some people have sold up neg geared properties to buy a few CF+ ones. Some may have sold up some cheaper properties to buy more expensive ones.I don’t know that there’ll be a panic to sell. There’s already a huge amount of properties on the market as people try to cash in on the aftermath of the boom. Perhaps some of those people might even take their stock *off* the market so as not to incur the exit tax. Who knows? It will probably take a month or so to find out the trends.
kay henry
Dallas & Kerrie said : : ‘jewish business people (makes no difference if they were jewish of not) offering to buy peoples bank books.’
My memory of that occasion is that the majority of these bankbook buyers were Mormons, black and brindle ones at that.
I would have thought that if it doesn’t make a difference then why do you feel the need to mention the word ‘jewish’ ?
Were you there at the time ? Did you identify the buyers yourself ? Or have you read that story somewhere ? Or do you perhaps belong to a bashing group ?Lifexperience said : ‘Have you considered making your properties a separate country. I have heard of a guy doing this in the gippsland area, don’t know details. All we would need would be a barter system for dealing props, and visas for renters.’
Mr Lifexperience, you are at least seven days late with that post.
Elves said : ‘So what has anyone done so far besides whinged? Have you contacted your local members? have you bothered with Carr’s office? Well if you say nothing to them they wont know will they?’
That approach would be a complete waste of time
I would say.Hitting them where it hurts most is to obtain direct representation in parliament (and hold the balance of power).
Perhaps the solution is what Shushar suggested i.e. join the NSW Property Owners Association and start agitating from there.
Pisces
Hi Pisces,
Obviously you missed my point. Kiyosaki talks about the word crisis as having two meanings. Danger and Opportunity.
You asked where I got my info from? My Dad was telling me a story (like I said in my post) about this. Like I said, it does not matter if they were jewish or what race or colour! They were deal makers who could spot opportunity a mile away. Unlike half the closed minded a tunnel visioned people on this forum!
Enough said!
Sincerely,
Dallas & Kerrie Kelso
W: http://www.WeBuyHomes.com.au
E: [email protected]
People may now, however, decide to keep those IP’s because of the new taxes. But many investors, including many on here, have sold IP’s so they can make different or better decisions about future IP’s. Some people have sold up neg geared properties to buy a few CF+ ones. Some may have sold up some cheaper properties to buy more expensive ones.You must be logged in to reply to this topic. If you don't have an account, you can register here.
