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The Property Market |
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Baghdad Bob
Champion Joined: 10 Feb 2010 Location: Victoria Status: Offline Points: 13676 |
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Posted: 08 May 2021 at 1:28pm |
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Ever second day in the press I read of those suburbs in our capital cities that offer " the best opportunity to make money ". Most of the named suburbs are outer metropolitan suburbs, half of which I have never heard of, regardless, the annual rates of growth of up to 15%, seem impressive, however they are only on a very low base. A house in those suburbs might cost $400,000 and increase by 10% to $440,000, giving a paper profit of $40,000, not bad.
BUT Subject to my ability to buy in a more established suburb, I would rather buy a home for $ 1,000,000 and accept a growth rate of 7% to make a paper profit of $70,000. The old saying in buying a home the three most important factors are "location, location, and location ", why do you suppose the high end town purchase in Point Piper or Toorak ? Another old saying is the rich get richer as the poor get poorer, despite paying more in taxes.
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rusty nails
Champion Joined: 20 Mar 2013 Location: Sydney Status: Offline Points: 11392 |
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Hope you’ve got someone else looking after your investments Bob!
That’s a terrible strategy.
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Baghdad Bob
Champion Joined: 10 Feb 2010 Location: Victoria Status: Offline Points: 13676 |
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Rusty, the best property investment you can make is your principal residence ( PR ) , you do not pay capital gains tax ( CGT) when you sell. If you buy six properties in an outer suburb for $400,000 for a total of $2,400,000, only one can be your PR therefore you will pay CGT on the other five when you sell , however if you buy one property for $2,400,000 in an established suburb as your PR you pay no CGT when you sell.
Rusty, I might add that is only property investment as one should spread their investments over other assets classes such as shares, etc. |
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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Cool story Bob but if you want to discuss this properly how about you include all the facts. Start with not being able to deduct any expenses on your PPR and that it earns $0 in income.
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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LOLOLOL ... It earns it's value in the Rent you don't have to pay to occupy it.
It's capital gain will usually be far higher than any alternative. Like Point Piper/Toorak will Gain twice any investment alternative . Your doing well Bob , I'm sure your eating better than U know who. |
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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That’s only true if you’d actually be looking to rent a place at that price point. Which of course many wouldn’t. Nevertheless, all I said was that if you are going to try to compare the two options put forward then there is far more too it than the capital gain alone.
As for point piper and the like, makes you wonder why The Wrecking Ball isn’t living it up there instead of being holed up in some dumpy block of flats in Albany Creek a million miles from civilisation. What a place to wind down the clock!
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Hahahaha i chose to be near family and live in luxury . My Former Sydney Poperties are appreciating at many thousands per week . You wouldn't be aware that houses on the Northern Peninsula of the North Shore have averaged well over $2000 per week Capital gain for the past 10 years.
Sure sinks your reasoning . |
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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Yep you choose to live in the arse end of Brisbane (is it even Brisbane?). Cool story. Let Bob know if you’re looking to sell, you’d might be able to move into his 6th bathroom with proceeds.
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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You do realise E&E . Comes a time in life where Financial gain or term investing is of no use to you . I realise you thrive in the Humidity of the tropical further North of Brisbane and your capital gain might be $100 a week. Bob would be counting his weekly gains in thousands and I'll bet your advice is being ignored, with the humour it deserves.
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Wow ... I almost forgot , I don't think your travelling real well on the punt either ...
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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BTW E&E , It is My Birthday tomorrow and OneOneSit's on Monday . It would be a nice gesture by you to send us a drop of something that smells like Whisky .
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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This of course is more nonsense. The financial gain may be of no use to you but it certainly would be to your family. You know, the people who you apparently moved to be close to. Sorry to hear that they also live miles from civilisation. So once again your stories of “choosing” to live not too far from the dregs are appreciated for the laughs they bring. Do continue. Sorry old boy but I live in a suburb less than 7km from the city with another couple of properties in the next suburb. You can dream that I’m only making $100 a week if it helps your raging jealousy. Doesn’t bother me. A guy who’s winding down the clock on all day on the internet is someone to be pitied anyway so treat yourself to some imagined enjoyment.
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Baghdad Bob
Champion Joined: 10 Feb 2010 Location: Victoria Status: Offline Points: 13676 |
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Macca, I always thought you were born under the star sign of Taurus, you are financially literate, BTW it was my birthday yesterday.
What with 1+1’s on Monday, your’s tomorrow and mine yesterday we might embarrass E&E and Rusty with our understanding of property finance. |
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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lol ... And to think they closed the Psychiatric Institutions and allowed you to roam free ... Have a good Mothers day though .
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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More imagination. How about I post a YouTube video of my bet history arbing Ladbrokes for thousands last year? I’ll post it and you disappear for a year? If I can’t post it I’ll do the same. Deal?
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rusty nails
Champion Joined: 20 Mar 2013 Location: Sydney Status: Offline Points: 11392 |
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Yep choosing investment by horoscope....... I’m not at all surprised.
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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It’s a shame that you can’t engage in any conversation without resorting to this type of abuse. I’ll just add this post to the list for next time you whine with imagines grievances about people doing the same to you.
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Tlazolteotl
Champion Joined: 02 Oct 2012 Location: Elephant Butte Status: Offline Points: 31422 |
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The asset bubble caused by super low interest rates looks like a fun party but what happens to all the average Joes with million dollar loans if interest rates go up, a lot? Can interest rates stay low forever?
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An honest politician is one who when he is bought will stay bought.
Simon Cameron |
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Inflation is a huge danger of causing rates to rise and the numbers in trouble would be huge ( as you say ) ... At the struggle street end ... The more valuable areas of RE are surging in value as I've never seen before and unlikely to stop , any time soon ... The worlds rich buy up our prime areas.,
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Baghdad Bob
Champion Joined: 10 Feb 2010 Location: Victoria Status: Offline Points: 13676 |
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Rusty, Ha,ha. Although I do not believe in horoscopes I think I might have been born under a lucky star sign. In my early twenties I recognised there was a once in a life time chance to take exploit the differential between the tote and the bookie's odds especially in those early days, before you were born, when betting on the tote I was able to get 6/1 about 5/2 shots or 25/1 about 10/1 shots on a daily basis. So I resigned from my job as an understudy to an actuary and took up professional punting. It set me up for life. Both a bit of initial good luck ( I could have blown my $8,000 betting bank when first starting out ) and an understanding of probability did not go astray.
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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You won't embarrass E&E Bob . My presence allows him to be near competitive with his debating Points . At 88 and "done" . I'm about and even match for him and it saves his ego from radical deflation , in more competitive company. ...... In Racing Terms he is still in maiden events.
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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And we have radio silence. What a surprise! The poor guy knows he will be shown up so runs for the hills when the challenge is thrown out. Couldnt disappear fast enough! Classic!
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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I must say I don't have a clue what your talking about .. But you may feel better Tomorrow when the family brings you the yearly gifts .....
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rusty nails
Champion Joined: 20 Mar 2013 Location: Sydney Status: Offline Points: 11392 |
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Yeah, so you keep telling us. Even your OP demonstrates you have less than a rudimentary understanding of calcs, and investments. Reckon horoscopes might have been your best method.... |
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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Possibly the first thing you’ve got right in this thread. Here, let me spell it out clearly for you. You posted this:
Of course this is just you lashing out again because you’re stuck on a hiding to nothing by so you desperately try to go off topic. But hey, I’ll humour you and play along. Let’s have a bet: Obviously I’m not posting anything from current accounts I’m using but I will post a video showing my bet history from last year on Ladbrokes, including a period of 3-4 months where I arbitraged one of their promotions for thousands. This account was in the black for around $8k last year before it was cut off. That should be more than enough to show how profitable I am. If I can’t post this video I’ll leave the forum for 1 year. Won’t post or even log in. I can even be suspended if that suits. If I do post the video and it shows exactly what I have just said you will do the same. No logging in for 12 months. 1 year not long enough? We can make it 5 if you like. Or we can make the bet for any amount you to $5k to be held in escrow by the Mayor. How about it? What’s that I hear? Silence? What a surprise!
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Get real My friend ... I don't doubt anything you say, I witnessed you on several occasions say This current Tipster was profitable over the years . All we lack there is the evidence. ( Before the races were run )
BUT someone said ' WHO cares " and that is so True . Do you care , Neither do I ... |
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ExceedAndExcel
Champion Joined: 20 Dec 2008 Status: Offline Points: 16244 |
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Didn’t think so.
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Baghdad Bob
Champion Joined: 10 Feb 2010 Location: Victoria Status: Offline Points: 13676 |
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Is the current property first home buyer’s market akin to the game Pass The Parcel ?
With government incentives for first home buyers, minimal deposits, and low interest rates many first home buyers, who previously would no hope of buying a home, are clamouring to get their first home in outer suburban suburbs, with little to no existent infrastructure, for FOMO ? Surely once interest rates get back to even 5 or 6 per cent, many of those first home buyers will not be able to service their loans, resulting in many forced sales. Unfortunately in a few years time many of those first home buyers will be left holding that parcel and will probably lose their homes, with their credit ratings downgraded and have little chance of ever owning a home.
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Keep away from anything under community Title , away from Sydney ,Melbourne . ( Strata- Villa / Townhouse ) has gained little or nothing in Brisbane and most other areas . they are a real trap . The old Position position , still applies .
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oneonesit
Champion Joined: 06 Aug 2012 Status: Offline Points: 37181 |
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Lot of lost TBV talent right there
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Refer ALP Election Promises
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