Any chance you could put up a separate post on your ideas, intent etc? Nothing too specific if you don't want to but I'm fairly certain I would not be the only person interested. My brother is a farm manager so have been thinking about how to do something together for a while now.
I cant think of anything that could make me get a loan for property in Australia currently. Although I dislike property spruikers, I do see the attraction of property ownership (not mortgagee-ship, yes I just invented a word). You will find that families with strong inter generational wealth HOLD property that they own outright. They dont TRADE property, they arent investors. They are collectors of land, bricks and mortar. The great 'Australian Dream' of owning your 1/4 acre low set brick home is in the suburbs is just a big trick to get you on the debt merry-go-round for decades to come.
+1 I want to see all the opinions out there. I want to see what the pro-property crowd have got to say just in case they have a good argument or something I have missed. Haven't seen anything yet..
^ I think you have a fairly good philosophy there. Have you considered the possibility of increased competition between landlords driving rents lower? If people can't afford the rents, they move in with parents, share houses, move to the outer suburbs, etc? It doesn't take much movement at the margin of the number of renters to move rents (up or down). We've witnessed the up movement over the last decade, surely it is a possibility that there might be a downward movement? (not certainty, just possibility). I guess there's a difference in these topics - most property topics seem to discuss capital gains, how much it costs to own with debt, negative gearing, etc - rather than owning property outright for an income.
I sell off the plan apartments in Sydney for a living and the current ratio for the average priced one bedroom apartment that I sell is 280oz gold:52m2 one bedroom apt. People are buying hand over fist at the moment, it is absolutely crazy! I have a mobile coffee cart coming to my sales display suite tomorrow to serve coffee to people who are waiting to see me to buy an apartment, I expect to personally transact about $5million in deals this weekend alone. The thing is, the developers are claiming it is hard to sell for any less if they had to...I guess due to land acquisition costs. Admittedly there is one development I have which I am tempted to buy into but my wife says otherwise!
I own all 3..... Move to Tassie. Clean water & decent land. Just bring your ugh boots & flannel shirts. Tassie has an ageing population & if you are into the service industry for this demographic, come on down. There is no toll on any highway & peak hour lasts 15 mins.... Just be. Prepared to burn a barrow of firewood for every night for 4 months.
There are quite a few posts over the last time or so from SS members about wanting to buy Farms. IMO it is a good option if you carry little or no debt. SMSF IMO will start to seriously access this asset class over the next year or so as more research it.
Unfortunately property CANNOT be owned outright here in Australia. The government always owns it in the end, and can tax you out of it anytime they wish. Think also of the willy nilly restrictions which they can place on property - you have to ask permission even to paint the outside of your home in some places! so no ... property is simply a way for the government to own you!
