The Power of Property

[Danville]

In reply to: Danville on Wednesday 22/11/06 09:52am

ANother thing - For the last two years, the big game in town here has been land speculation in subdivisions. With a $500 deposit you can secure a block of land with a title maybe 3-6 months forward. Just before the settlement date on the block, people are onselling the block at a substantial profit. I have a good friend who does this for a living (while the getting's good). On the last three blocks he made over $150,000 profit less commissions

[dory]

In reply to: Danville on Wednesday 22/11/06 11:52am

HI Danville

 

yes pbd - i live next door in falcon {the peppie grove of the south }

 

cheers

 

 

 

 

 

 

[rubba81]

In reply to: Matt Kirk on Wednesday 22/11/06 09:36am

Thats exactly right Matt Kirk!

 

Find an investment that "FITS" your personality profile http://www.sharescene.com/html/emoticons/cool.gif

[colaiscute]

wow.. just finished my copy of Power of Property then.... and it really showed how little I knew about property before I picked up the book. Boy am I glad I did.

 

I have no intention of using property in my short term investments (maybe managed funds, but not ownership) and reading this book really gave a bit of a heads up into some of the complications.

 

Dont get me wrong, I loved the book (really easy to read and full of useful exposure to terms and strategies).

 

 

From an investment point of view, it covers financing well (in my opinion) and talks frankly about risk and not getting ahead of yourself.

 

I would say a pretty balanced book, but obviously written by real estate enthusiasts.

 

 

Anyone read it recently?

[wren]

Every now and again we hear that Sydney is the city where anyone with the cash has to live.Not really:the big end of town prefer London,New York and Paris.

 

News just in........................."Nearly a year and a half after it hit the market for a whopping $160 million, London's One Cornwall Terrace has sold to British property tycoon Marcus Cooper, according to The Sun.

 

He reportedly paid $120 million for the home, significantly less than its asking price. Even with the discount, it's a record price for a terraced home, The Sun reports.

 

The 21,500-square-foot mansion, near Regent's Park, is named after King George IV, who was originally the Duke Of Cornwall. It has seven bedrooms, nine bathrooms, and 11 reception rooms.

 

It was the official London residence of the New Zealand High Commissioner from 1955 until the 1970s, and was later occupied by squatters, according to The Sun.

 

But it later went a full restoration, and now includes a sports complex with an indoor swimming pool, iPad-controlled lighting, and a 40-meter landscaped garden.

 

Cooper, founder of Marcus Cooper Group, is a property developer in London whose portfolio includes residential and commercial properties throughout the city."

 

[nipper]

Six Warning Signs for a Property Spruiker

.... there were enough warning bells ringing for even these inexperienced investors to hear, and here are six things to look for:

 

1. The approach came from the spruiker. It always does. It offers a âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‹Ã…“freeâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ seminar showing how to become a millionaire, entry in a contest to win something flashy, or an interview to learn how to save tax while paying off your home faster.

 

2. The spruiker tries to convince you that they are the only people who can find the right property for you. Any seasoned property investor knows the way to wealth is to search out bargains for yourself.

 

3. A building contract is involved, with the rationale that you will save stamp duty, get a new home, and enjoy bigger tax breaks. The real reason? It gives the spruiker a better chance to load the price.

 

4. They offer a one-stop shop: the lawyer, mortgage broker, builder and managing agent. This allows them to stay in control throughout the process.

 

5. The properties are usually in outlying suburbs in lower socioeconomic areas. And it is no accident that properties offered are usually in a different state to where you live.

 

6. There will invariably be a mortgage required over your own home. The last thing the spruiker wants is for you to order a valuation on the overpriced property they are trying to force on you.

https://www.firstlinks.com.au/article/six-w...a7ff15-83781601

[joules mm1]

if you've been saving a deposit you maybe in luck as some prices fall your way

https://www.domain.com.au/news/nsw-governme...s-fines-946902/

 

NSW government cracks down on holidaymakers, threatens fines

Sue Williams Apr 6, 2020

 

[nipper]

I was reading about Airbnb. A couple of anecdotes.

- mate in Tassie says Hobart (pop. 240,000) real estate has U turned; the hot mainland money looking for yield has lost both the overseas students and the tourist/ backpacker influx.

- a family member, sth coast beach side, getting 25% of all cancelled booking until 30 Apr.

- saw a blog on Canada; was getting $120 a night, going rate now about $30

[joules mm1]

interestingly, speaking of which, from the US

#REIT

Tracy Allowayâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ @tracyalloway

https://twitter.com/tracyalloway/status/1246949203357532160

The recent sell-off in REITS was worse than even October/November 2008.

Via Morgan Stanley:

 

 

 

[nipper]

Anything geared gets hit more. REITs carry debt, and the higher the LVR the better the returns ... until they aren't.

 

Another yield trap. Saw it in GFC and not surprised it's happened. Again..