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Rockhampton Rents Collapsing; Oh dear! This wasn't part of the plan.
Topic Started: 23 Sep 2015, 02:31 PM (7,498 Views)
Frank Castle
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Business As Usual

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Ride if all the way down frank ? Where do you cut your losses ? Honest question....


Rents and prices have pretty much stabilised and they have no problem attracting tenants so what losses would they be exactly?

Newish builds cost me $160k and would sell for $320k in heartbeat or hold out for a bit and get $350k
They rent consistently for $340 to $360/week

Old unencumbered Qlders cost me on average $100k and would sell in a heartbeat for $220k and would probably get $270k if I held out.
They rent consistently for $280 to $320/week

They generate REAL income which I can buy everything I require to live and enjoy life without the need to work

So again, what losses would they be exactly?
Edited by Frank Castle, 8 Oct 2015, 10:09 AM.
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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Terry
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Frank Castle
8 Oct 2015, 10:07 AM


Rents and prices have pretty much stabilised and they have no problem attracting tenants so what losses would they be exactly?

Newish builds cost me $160k and would sell for $320k in heartbeat or hold out for a bit and get $350k
They rent consistently for $340 to $360/week

Old unencumbered Qlders cost me on average $100k and would sell in a heartbeat for $220k and would probably get $270k if I held out.
They rent consistently for $280 to $320/week

They generate REAL income which I can buy everything I require to live and enjoy life without the need to work

So again, what losses would they be exactly?
Here's an idea. With your skills on the calculator and Rockhampton being the no-brainer that it is, why don't you rustle up some trusty staff who can do the builds for you and outsource the occupancy? You don't want to let your talents go to waste while you're lying on the beach.
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herbie
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Terry
8 Oct 2015, 12:52 PM
Here's an idea. With your skills on the calculator and Rockhampton being the no-brainer that it is, why don't you rustle up some trusty staff who can do the builds for you and outsource the occupancy? You don't want to let your talents go to waste while you're lying on the beach.
I'm pretty keen to let my talents "go to waste" - It was called 'being retired' last time I looked.

PS: If you seriously want to manage a whole bunch of staff, you've got rocks in your head - IMO. Or some very real 'n natural talent for it - Which I don't.
Edited by herbie, 8 Oct 2015, 10:48 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Terry
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herbie
8 Oct 2015, 10:34 PM
I'm pretty keen to let my talents "go to waste" - It was called 'being retired' last time I looked.
Sure, but you're not the Frankster, who has something of a Midas touch when it comes to Rockhampton and seems eager to be recognized for that.
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herbie
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Terry
8 Oct 2015, 10:48 PM
Sure, but you're not the Frankster, who has something of a Midas touch when it comes to Rockhampton and seems eager to be recognized for that.
'The Midas Touch' has got eff all to do with it - I could have made a lot of money doing the same as Frank does in Rocky in Brisbane (where Frank also operates if I recall correct?)

And HAVE made a bit (on paper anyway) - A tad over 11% pa on average (before CGT) since the mid 90s when I bought I estimated last time I looked (4 months ago maybe?) On a property I've not developed. Yet anyway. On which I can pretty much rely on getting an unsolicited letter in the post from developers every 6 or 12 months anyway, wanting to 'save' me all the hassle of developing it myself ... Nice kind caring considerate chaps that they are ... :)

'N when I say I've made "a bit" (rather than "a lot"), it's because I only bought one of them - Rather than 'lots' of them.

There's just nothing in Frank's story I find at all incredible.
Edited by herbie, 8 Oct 2015, 11:29 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Terry
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herbie
8 Oct 2015, 11:12 PM
'The Midas Touch' has got eff all to do with it - I could have made a lot of money doing the same as Frank does in Rocky in Brisbane (where Frank also operates if I recall correct?)

And HAVE made a bit (on paper anyway) - A tad over 11% pa on average (before CGT) since the mid 90s when I bought I estimated last time I looked (4 months ago maybe?) On a property I've not developed. Yet anyway. On which I can pretty much rely on getting an unsolicited letter in the post from developers every 6 or 12 months anyway, wanting to 'save' me all the hassle of developing it myself ... Nice kind caring considerate chaps that they are ... :)

'N when I say I've made "a bit" (rather than "a lot"), it's because I only bought one of them - Rather than 'lots' of them.

There's just nothing in Frank's story I find at all incredible.
Yep, it's all there for the taking. Anyone can do it. You and the Frankster are not so special after all.
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herbie
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Terry
8 Oct 2015, 11:50 PM
Yep, it's all there for the taking. Anyone can do it. You and the Frankster are not so special after all.
Have never claimed to be. But your claim to being just one more of the forum's fuckwits has now been made loud 'n clear.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Terry
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herbie
8 Oct 2015, 11:55 PM
Have never claimed to be. But your claim to being just one more of the forum's fuckwits has now been made loud 'n clear.
OK, so you agree you're nothing special. Humility is a virtue. No need to get bent out of shape.
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