There are more interesting articles, commentaries and analyst reports on the Web every week than anyone could read in a month.
Each Saturday morning I like to share some of the ones I’ve read during the week.
The weekend will be over before you know it, so enjoy some weekend reading…and please forward to your friends by clicking the social link buttons.
Property spruiker activity on the rise
There have a lot of headlines in the media lately about phone scams and corrupt emails – now the latest craze to hit is the rise of property spruikers.
An article for smartpropertyinvestment.com.au has reported that the levels of property spruikers have considerably increased, warning investors to be on alert.
The number of property spruikers preying on SMSF investors and financial advisers has increased in the past year, with spruikers attempting to entice businesses with large kickbacks, according to an industry insider.
GEM Capital adviser Mark Draper says there’s been a huge increase in the number of property spruikers approaching his practice in the last 12 months.
About three different property spruikers will contact the firm every week in an attempt to flog property to their clients.
“They’re offering 5 to 10 per cent commissions, which should be ringing alarm bells [to any adviser],” Mr Draper said.
The increase in property spruiker activity is likely driven by the growth in property values, low interest rates and the growing amount of money sitting in SMSFs, he said.
“They’re seeing that as an opportunity.
There’s a lot of money out there looking for a home and these guys are out there trying to get [that money] so [practitioners] and trustees need to be careful of that.
“I just think there are few more warning signs at the moment … in the property sector – that’s where I’m seeing the most risk.”
Read the full article here
Nine lessons from the ultra successful + Don’t get caught in a rent to buy scheme
Another great Real Estate Talk show produced by Kevin Turner.
Michael Yardney shares his lessons on what makes a successful investor? and why are some people more successful than others?
Paul Nugent explains why buying an investment property and buying your own home are two very different things.
Mark McCrindle discusses why ‘Great Australian Dream’ is being redefined.
John Fitzgerald founder and CEO of Custodian Wealth Builders shared his story.
Eileen Webb Associate Professor of Law at Curtin Law, discusses a piece she wrote about Australians still falling prey to the rent-to-buy schemes
If you don’t already subscribe to this excellent weekly internet based radio show do so now by clicking here.
Australia’s land is now worth more than $5 trillion
Have to ever wondered what Australia’s land in really worth now?
Land values surpass $5 trillion
The total value of Australia’s land increased by 5.3 per cent or some $258 billion over the last financial year.
Total land values now in Australia sit at their highest ever level at more than $5.1 trillion – that’s about three times the size of GDP, which in historic terms is very high.
As you can see in the graphic above, some 82 per cent of the total land value is accounted for by our homes – residential property – at nearly $4.2 trillion.
The total value of residential land has seen more than a tenfold increase since 1989.
Read the full article here
Flat Chat: Fines increase for ignoring strata bylaws
If you’ve ever been frustrated by those neighbours that don’t seem to think strata bylaws apply to them – this is a good day for you.
According to an article on Domain.com.au there a far greater consequences in place for those who do not comply with strata bylaws – and it will hurt the bank account.
If you are one of the many people who think that strata bylaws are just a bunch of blah and the new laws don’t really affect you (mainly because you don’t care), you’ve got a wake-up call heading your way.
Under the strata law reforms that come in next month, two provisions are going to hit strata miscreants hard in their hip pockets.
The first is the doubling of the maximum fines for bylaw breaches, from $550 to $1100 (or five penalty points to 10, at current rates).
That’s the top whack, but you’d assume that the actual fines imposed by the tribunal (NCAT), which usually start about $200, would also double.
And the other, probably even more significant, change is that unless the tribunal decides otherwise, the fines will be paid to the owners corporation by default.
Yes, for the first time, the neighbours you’ve been annoying will benefit from the fines you have to pay.
Overnight those committees that routinely file complaints in the too-hard basket have an incentive to pursue residents who breach bylaws and ignore “notices to comply”.
Click here for the full article