Retirement Incomes....will you be in the top 3%!

Discussion in 'Property Market Economics' started by sash, 4th Nov, 2019.

Join Australia's most dynamic and respected property investment community
  1. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    5,813
    Location:
    Paradise, Brisbane
    No need to upgrade the PPOR. Any house in Australia, even in the outback, has to offer a better lifestyle than about 80% of homes around the rest of the world. Suck it up and develop your investments instead.
     
    spoon and kierank like this.
  2. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,604
    Location:
    Sydney
    Not sure about the GST implications in NZ...but in OZ yes there would be if the primary purpose was to sell for proift which would establish you are carrying out a property related business.

    @Paul@PFI understands this well...you might want to talk to him....
     
    ellejay likes this.
  3. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,604
    Location:
    Sydney
    Hey mate...yes...that is what I am trying to do....I just got back from a property hunting trip from Melborune/Geelong...the market for new properties there is very strong!

    I am replacing the older properties with new ones for a couple of reasons..just simple House and Land:

    1. Less maintenance
    2. Great depreciation
    3. If done right you can have equity on completion of the build. As a matter of fact the last 2 I only put in stamp duty, establishment, valuation, and legals ....about $5500.

    Putting money in super early is good idea. Just make sure you can afford to do so.

    The other thing...is lot of vested interests on here. Some terrible business models ...where some BAs are putting people into CF only properties like Logan, Bendigo, etc. with little prospects for growth. This is backed some brokers who also have vested interests...be careful. Some of these guys are very inexperienced..and as Ellejay has also pointed out...do not have the depth of experience. Some have simply gone a BA course and have set-up a practice with very little track record.

    PM me if you want to know more...



     
    larrylarry, ellejay, Marg4000 and 2 others like this.
  4. craigc

    craigc Well-Known Member

    Joined:
    25th Jun, 2016
    Posts:
    1,575
    Location:
    Melbourne
    The interstate raider is back again :)
    Sorry I missed the last Melb catch-up, good for a chat and love to hear Ellejay details.
    Well done all.
     
    ellejay likes this.
  5. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,604
    Location:
    Sydney
    Yes no worries...I love Melb and Geelong....the value presented is awesome...compared to Sydney.

    What is positive is that the rate of which these cities continue to grow is stellar....it is more affordable.....I guess.
     
  6. Piston_Broke

    Piston_Broke Well-Known Member

    Joined:
    30th Jul, 2015
    Posts:
    4,081
    Location:
    Margaritaville
    I am Gen X. I knew what to and how to do it.
    Coming from immigrants who came here with a suitcase and seeing many relatives and family friends go onto owning whole blocks of shops, many unit blocks etc etc.
    Many were content with taking on less risk (my parents) and i don't know of any uncles who did not have at least one IP in the by the 80s and more buy the end of the 80s.

    At first I wanted to do it too. By everything, build the empire, leapfrog, have X million before 40 and retire etc etc.
    But then things changed at 30.
    It just slowly stopped being as important as previous and further tapering away.
    I was never into big spending, could easily live on what others think is a tight budget and stopped wanting the things I wanted when I couldn't afford them.
    Now I would be probably described as a minimalist.

    So instead of making it a race to the end I started slowing down and just plodding along.
    Still increasing wealth but not with the attitude of someone like euro or others that posted here trying to scrounge everyone and anywhere for a dollar or 2.
    Sure i could've done more, bought more, made more. Instead I did things like burn my alarm clock.Yes I ritually set fire to my clock radio and watched it burn, never to be replaced :cool:

    2020 will add newly built 7 or 8 IPs (DAs already lodged) at an LVR of around 50%.
    Not bad for a lazy git who doesn't want to do what society calls "work".
    A few weeks ago i was reminded by a mortgage broker about an CRE IP I completely forgot about :oops: how does that even happen?? lol has anyones else actually forgotten an IP for a few years?o_O
    This will make RIP 70% of holdings. Ideally i would want to diversify this and add more equities and OS RE.

    I just watched Undercover Billionaire and though I find it hard to believe it wasn't contrived it's given me some motivation do some research into the US market.
    Although at the same time I'm researching living on Thailand beach property for 3-6mths of the year...
     
    MTR, ellejay and Bunbury like this.
  7. Bunbury

    Bunbury Well-Known Member

    Joined:
    16th May, 2017
    Posts:
    427
    Location:
    Melbourne
    Greater Geelong has a huge future ahead of it. Fast forward 10-20 years and the population growth on the Bellarine Peninsula will be off the charts. What's not to love about it when you're an hour to Melbourne, on the Surf Coast, and there is some great value to be had.
     
  8. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,604
    Location:
    Sydney
    Yep....I was bloody floored at the prices in places like Barwon Heads and Torqauy around the corner from the beach.....the other place is Drumcondra facing the water just a walk from the Geelong CBD. Currently the population of greater Geelong is about 320,000 (includes Torquay and Surfcoast).....it should be close to 500,000.
     
  9. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,345
    Location:
    Brisbane
    Had they stopped paying the rent so you forgot you owned the property ?
     
  10. Piston_Broke

    Piston_Broke Well-Known Member

    Joined:
    30th Jul, 2015
    Posts:
    4,081
    Location:
    Margaritaville
    Nope, it's a technology thing.
    Commercial IP, tenant pays all outogings. P/L own acct.
    Rent DD into account.
    Loan DD out of account. 60% LVR at purchase.
    Statements sent by PM to accountant.
    Acct office is registered address for P/L
    I don't get emailed statements for any of my bank accts.

    A few weeks ago broker rings asking if i want to refinance the loan as values have gone up after 6 yrs.
    I was like what loan? He says the XYZ pty ltd loan.
    I say who's that? You have a loan for XYZ.
    I say loan for what? He says loan for Abc St Suburb
    3,2,1 click...I had actually forgotten about that.
    As in that IP had not even crossed my mind for abut 3 years.
    Sure I have projects going on but never have I been or thought I would be so slack about an IP.
    And I dont have 20, 30 or more like some here do.
    Is that what happens when you get to 50? Maybe the onset of mad cow...
     
    Rugrat, KateSydney and ellejay like this.
  11. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    6,776
    Location:
    ....UKI nth nsw ....
    No i don't think so from experience ,that when you start milking all the cash cows..
    Merry Christmas and a successful 2020..
     
    Piston_Broke likes this.
  12. Piston_Broke

    Piston_Broke Well-Known Member

    Joined:
    30th Jul, 2015
    Posts:
    4,081
    Location:
    Margaritaville
    Thank you willair. Best wishes to you too.
     
  13. The lucky duck

    The lucky duck Well-Known Member

    Joined:
    19th Dec, 2019
    Posts:
    184
    Location:
    Wynnum
    I am really enjoying your posts! Thank you
     
    kierank likes this.
  14. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    I taught him everything he knows.
     
    Codie and kierank like this.
  15. The lucky duck

    The lucky duck Well-Known Member

    Joined:
    19th Dec, 2019
    Posts:
    184
    Location:
    Wynnum
    can you teach me too then :)
     
    kierank likes this.
  16. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    My subscriptions:

    Gold level: starts at $465/month
    Ruby level: $875/month
    Platinum: $1250) month

    I can only guarantee success with platinum level subscriptions.

    :D

    In all seriousness, there are many great posters on the forum and you can learn a ton from just reading many of the good posts. Also some the books already recommended have a heap of great information. All will cost you less than $150 bucks.
     
    wilso8948, kierank and The lucky duck like this.
  17. The lucky duck

    The lucky duck Well-Known Member

    Joined:
    19th Dec, 2019
    Posts:
    184
    Location:
    Wynnum
    Great minds think a like! I’m on the ground in Brisbane! Happy to look/ photo etc
     
  18. The lucky duck

    The lucky duck Well-Known Member

    Joined:
    19th Dec, 2019
    Posts:
    184
    Location:
    Wynnum
    I
    I m soaking it all in. Hubby only just gave me the green light to invest.
     
    ellejay, Codie, kierank and 1 other person like this.
  19. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    I know nothin’ :p.
     
  20. TAJ

    TAJ Well-Known Member

    Joined:
    10th Oct, 2017
    Posts:
    1,214
    Location:
    Northern NSW
    Sure Schultz!
     
    kierank likes this.