There was a time when someone tried to get me to invest in plantation timber. They crowed about how fantastic the initial tax write-offs were and that they were going to retire 20 years after they got into it. I pointed out that I didnt have much in the way of funds to invest so wasnt interested. He said that because I had steady employment that bank finance could be arranged (via the timber Company which they didnt point out) and that I would be crazy to decline. Also said stuff about barrels and fish. Fortunately insanity runs in my family so I gave it a miss. It was a ponzi scheme which has left thousands broke and made millions for the spruikers and Banks who promoted and profited from it.
http://forums.silverstackers.com/topic-56663-5-tonnes-of-firewood-or-1-kilo-of-silver.html 5 tonnes of firewood for the price of one kilo of silver. Silver does not grow on trees. Silver does not warm the house..
Ye I remember an accountant suggesting timber plantation investment about 15 years ago...I did'nt have enough funds at the time to invest.
Sorry boneyard, I should have been more specific, I was referring to failed plantation timber investments such as Timbercorp and Great Southern Plantations. Investors in Great Southern just accepted an offer of $23 million in a class action which, after extracting the $20 million of legal fees, pays them out 16.5 cents per $10 000 invested. The Banks, who benefitted enormously from this fraud, are now enforcing loan orders against said investors to ensure they remain financially rooted. Interested to know boneyard if you think theres $$ to be made buying, cutting and selling redundent blue gum plantations? (fair dinkum question) Victoria's got heaps at "fire sale" prices at the moment.
Save the trees and burn the lawyers and bankers.. The amount of "sleaze" that they ooze should not need much kindling to get the fire going.. Just do not breath the toxic smoke...... 16.5 cents per $10,000 is just disgusting. As for going in and cutting and stacking some. Do not know if you would be labled Ned Kelly or Robin Hood.
I dont mean theft, I mean actually buying one of these failed plantation properties cheap and cutting, splitting, selling. In Vic you cant legally cut wood in state forests, except green trees in coups at certain times of the year. Pro firewood sellers pay to access areas of forest under strict conditions. Cant help yourself on private land either so no Robin Hood. I reckon a quid could he made from one of these duds by doing a bit of hard yakka.
My bad, investers actually got around $16 per $10 000. Lucky buggers. Great Southern Plantations... http://www.abc.net.au/news/2014-12-...ttlement-for-great-southern-investors/5961348 ...and Timbercorp... http://www.smh.com.au/comment/anz-t...s-by-timbercorp-collapse-20141111-11kdiu.html ....and getting away with it... http://www.smh.com.au/business/alle...nvestors-creditors-reach-20141212-125u7f.html Not everybody lost out though.... http://www.smh.com.au/business/mich...ack-by-ailing-timbercorp-20141212-125du4.html All actual shit happening as we speak.
Does anyone remember back in the 1990s when people were investing in ostriches. It was all the rage until the great ostrich crash of 1996.
Alpacas were all the rage in the states for a while, I believe it made financial sense because you got all sorts of credits because having a couple of Alpacas made you a farmer for tax purposes and exempted you from property taxes and council rates. Always wondered if they ever made money on the fur (hair?)?
Unless committed by a bank So in this plantation scenario, the companies went to the wall, the investors get screwed but the banks lose nothing ?
