positive outlook on property thread, page-9

"Thanks for that Scotty. I have seen people in QLD lose big time on apartments, literally down $150k in 9 months time."

Some slick marketing by ruthless agents is usually behind those losses. Brand new apartments have massive tax schedules and allowances that somehow make them look like a licence to print money from the ATO regardless of entry price.

Without being partisan to any agendas, negative gearing somehow justifies in some peoples minds paying ridiculous prices, even if the one year old building next door have resales for 40% lower than the new price a year before.

In the resale market the agents often advertise what the owner paid because everybody likes to think they are getting a bargain. That's why of all the options on the GC at the moment I like the old ugly ducklings walk up flats with land bank potential just to buy and hold long term. Lot of talk locally that Mermaid Beach will have restrictions on highrise lifted, if this boom has legs, wouldn't mind picking up some exposure with run down flats in there.