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Housing collapse 2012 for Australia |
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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These are examples which we cry over but NEVER do we think of the many times the penny dropped the other way. Another bit of good advice ... NEVER do business with Family members. They are like CRIME = Don't pay. AND once they get a say in the financial side of things they suddenly become experts and Dad knows nothing ... Immediately After the Cheque's are signed. [/QUOTE] Good advice, sometimes. I know a guy who was CEO of a number of companies ,v ery successful owned racehorses, magnificent art collection, set for life. Was retired and helped his son with an injection of cash in his struggling business, I think he was somewhat involved with the business after that as well, but did bot know when to draw the line, strange considering his business background. Anyway he poured in $10 million which he lost, is now reduced to renting, sold his luxurious house and a million dollar art collection. Not a good outlook for a 75 year old |
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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I am as nice or nasty to others as they are to me. So take your pathetic, pernicious, provocative presence and bugga off |
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Gay3
Moderator Group Joined: 19 Feb 2007 Location: Miners Rest Status: Offline Points: 51994 |
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I've locked threads, moved others to the Laundry, edited & hidden, far too many posts. Hopefully some have taken note as I don't intend keeping it up day in, day out, heads will roll if the vitriole persists |
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Wisdom has been chasing me but I've always outrun it!
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Gay3
Moderator Group Joined: 19 Feb 2007 Location: Miners Rest Status: Offline Points: 51994 |
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"NEVER do business with Family or Friends"
One of Mums' most oft used sayings |
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Wisdom has been chasing me but I've always outrun it!
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Mum was a wise Lady .. She would have spoken from hard earned experience. Biggest problem is you lose the money and worst of all The " Friendship". Don't lend .... GIVE all you like . A great answer was the carpenter's mate asked him for a loan. He said I have an agreement with the Bank. I don't lend money and they don't build houses. |
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oneonesit
Champion Joined: 06 Aug 2012 Status: Offline Points: 37159 |
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Refer ALP Election Promises
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Gay3
Moderator Group Joined: 19 Feb 2007 Location: Miners Rest Status: Offline Points: 51994 |
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Can also get rid of those you can do without if they don't return a tenner or fiver
Another of her favourites was "Never a borrower or lender be.............." & I've forgotten the rest, can't be bothered googling either |
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Wisdom has been chasing me but I've always outrun it!
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oneonesit
Champion Joined: 06 Aug 2012 Status: Offline Points: 37159 |
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Yes lots of indicators to lousiness. Go missing in action in a shout, want to break a meal bill down to the last 10 cents, turns up to your get together with 2 stubbies in an esky - drinks everyone else's - & takes his 2 home at the end of the night, brags about the finds he gets at garage sales (including toys for the kids), has every loyalty reward card ever produced & sends himself mental ensuring he maximises every 5cent bonus - & worries more about scanning the cards than getting the change. Yep, nothing worse than being around lousy bathtubs ! And even worse when they have no real reason to be !
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Refer ALP Election Promises
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oneonesit
Champion Joined: 06 Aug 2012 Status: Offline Points: 37159 |
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& further - try not to let non-punters know you are a punter. Your immediately seen as a mug, a loser, someone who is carefree with money. If you can blow $50 on a horse you can shout an "extra" round for the party. Sad but true.
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Refer ALP Election Promises
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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Has some validity but I strongly disagree with a blanket attitude like that, take each case as it comes. Foir instance my father satred a small business at 42 after years of struggling. A wealthy friend of his lent him some money to get him through the first difficult period on a handshake. My father paid him back in 6 months. The friemd then told him he did not expect my father to succeed and never expected to see his money again. 2 years ago I saw a separated friend of mine was struggling to make ends meet, I lent her $10,000 without her asking, to be paid back when she can > I fully expect her to pay me back when her divorce comes through, if not it is no tragedy, I did what I thought was right Of course in both cases the lender could afford to lose the money if worse came to worse, makes a difference I guess |
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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And I am lousy when it comes to spending on myself , have minimal needs
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Afros
Champion Joined: 14 Jan 2009 Status: Offline Points: 15476 |
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Of course those figures show Tweed Heads isn't a good investment area, what about the average Joe who lives there and just wants to buy the family home? Maybe he should just follow out of touch Joes advise and get s better job? |
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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I posted that table as a matter of interest showing Australian house prices are unaffordable Edited by Gay3 - 25 Jan 2018 at 8:34am |
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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[
T Of course those figures show Tweed Heads isn't a good investment area, what about the average Joe who lives there and just wants to buy the family home? Maybe he should just follow out of touch Joes advise and get s better job?[/QUOTE] exactly, what has investment got to do with anything? but you can't argue with a stubborn mule |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Sorry, no more free education for you Afros ... keep listening to Whale though - fortunately there are lots of nice government assisted housing schemes in Australia.
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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I noted Channel 9 had their top Qld Investment area as PETRIE last night. Max mentioned that long ago as did others since . I think some Real Estate Guru's refer to the Brisbane CBD and North toward the Sunshine Coast as the Corridor for big gains in coming years. It's never too late to put in silly offers on desperate sales. Remember , if ever your offer is accepted, you've offered too much. The offer should be refused so the reverse psychology come in . The seller has the job of getting you up , Your no longer trying to get him down. Agents will probably never see the seller again , Your buying & doing future business on his turf , SO whose side do you think his sub conscience is on. |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Most people who get their advice from the media would have sold up in Sydney in 2011 ... the favourite real estate piece on Chanel 9 over the past 20 years has been the warning of the impending "REAL ESTATE BUBBLE".
Regardless of the commodity, if they say buy, sell ... if they say sell, buy ... guaranteed road to wealth!
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Reality is Doc , I've been listening to that for over 60 years. Solid residential Real Estate can't go down while our Migration intake is anywhere near the levels we are virtually committed to. Labor is all MOUTH about making Housing more affordable. The Government is near to totally dependent on the Building Industry being solid. They can slow things now to avoid the " Keating price explosions " By postcode deposit arrangements with Banks but to tamper with their own income by interfering too much with negative gearing would be a costly error for them. __________________ www.couriermail.com.au/.../qld.../queensland...qlds-population.../f1abb50da0ca97de45... Nov 5, 2017 - By mid-next year Queenslands population will pass the 5 million milestone, with annual growth recovering to the point where we are adding the equivalent of a city the size of Rockhampton every year. |
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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I have a question about buying real estate.
Is it worth buying a new property to take advantage of government grants, first home buyer grant and no stamp duty, over an existing property? My casual observation is there appears to be a price premium attached to new properties but I don't have the knowledge to accurately weight it in terms of value. |
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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Easy answer Sneck - it all depends!
If you are buying to live in, then it is a lifestyle decision, and you can afford to pay an emotional premium price. If you are a couple, "she who must be obeyed" will make the decision for you anyway.
You pay a premium for new, which can be mitigated by knowing the market, and spending time "shopping" (researching) - as is the case with almost every commodity - the advantages may be financial, by way of grants and or exemptions if an eligible First Home Buyer (depending on state based incentives), and if say buying house and land, you get to have strong input in design aspects ... which is hit and miss when looking at existing property - you may never find exactly what ticks all of your boxes. New will carry warranties, so mostly no maintenance costs for 6 or 7 years, whereas an older property, depending on quality of build, will need work and $$$'s spent at some point. Building may restrict locations, very few blocks of vacant land outside of the far flung new estates, although, there are lots of unit and high density developments nearer city centers, if that meets your needs, may not if you have kids and pets. If an investor, it is simpler as there is no emotion. The benefits of new are around the tax deductions of depreciation, again, no maintenance costs so cash flow planning is easier, location, asset quality, type of tenant and potential rental yields will normally be better. In many cases this will mitigate the premium, and as an investor, you should be buying to hold for 10 years or much longer, so a 5% premium in an East coast capital city (always preferred for growth) will be meaningless over time, if the asset is better than those in the vicinity.Tax rates and therefore affordability and wealth strategies will also determine the best options. Existing property in a lower socioeconomic area may offer cheaper entry costs, higher yields, thus better borrowing capacity, but normally lower capital growth outcomes. Serious investors will be building a property portfolio, and a mix of property types is often desirable. So without a specific needs criteria, there are a lot of answers, and depending on your circumstances, plenty of planning and research will always help!
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Great Stuff Doc.
We have always concentrated on desperate sales with value offers and prepared to renovate as we can do most things ourselves. True saying is POSITION, POSITION, POSITION. and that means the simple ( what Residential area is best prospects in a City one can afford ). Over the years on TBV some great advice has been put forward by quite a few members and anyone who followed those tips way back ( 8 or 9 years , some of them ) have done really well. ( ignore posts by BROOKE ). I have noted new Developements 15K to Brisbane North are too expensive by comparison ( my view only ), but The area prices are being pushed by The Armed Services buying up big. Has lifted the region in a very positive way ( relatively crime free etc. ) A little further out > Petrie > area will lift with a University scheduled to open in 12 months or so .. Numerous members have mentioned that .... lol , Buy a big house and let rooms to Uni Students , aye . |
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Whale
Champion Joined: 01 Jun 2009 Location: St Kilda Beach Status: Offline Points: 38719 |
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Got this in email, I am buying 10 units
Sunshine Coast has strong prospects for ongoing capital growth, boosted by infrastructure developments such as the University Hospital, the Maroochydore CBD project, and the airport expansion. According to Hotspots, the best part of the Sunshine Coast for investors to consider is the southern precinct including Maroochydore.
Maroochydore offers excellent capital growth potential, with a low vacancy rate and a strong rental market, yield and annual growth. Research from QBE also indicates that Sunshine Coast properties can expect a cumulative increase of 9% over the next 3 years. Median house prices are predicted to reach $650,000 by mid-2021. Now we know why Plaza Central Maroochydore has been popular among investors looking for an affordable property with ROI potential and it's nearly 50% SOLD. |
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Petrie Uni due to open ..... Will do wonders for a huge area.
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Dr E
Champion Joined: 05 Feb 2013 Location: Australia Status: Offline Points: 28563 |
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This thread "only missed by that much"!
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In reference to every post in the Trump thread ... "There may have been a tiny bit of license taken there" ... Ok, Thanks for the "heads up" PT!
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