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Offline dodger

  • Tommy Gunna

  • Joined: Dec 2009

  • Location: Melbourne
it's good for making profit out of developing

It was but I'm not so sure now, they're still building though, the building going on around Melbourne is just incredible.



Offline Fil-Ski


  • Joined: Feb 2009

  • Drives: 993TT
  • Location: Adelaide
Tom, from what I read they are talking about using super money to have an equity stake in the property so in effect that holding is still under the super umbrella.  I'm not sure they are talking about buying the whole house with super + borrowings.

No doubt there will be legal costs in sorting out the ownership structure, just like any JV I would imagine


Or have I got it wrong.
I don't think anyone has the details because it's such a crazy idea on so many levels.



Offline TomE


  • Joined: Aug 2010

  • Location: ADL
Tom, from what I read they are talking about using super money to have an equity stake in the property so in effect that holding is still under the super umbrella.  I'm not sure they are talking about buying the whole house with super + borrowings.

No doubt there will be legal costs in sorting out the ownership structure, just like any JV I would imagine

Or have I got it wrong.

Given 80% LVRs are the norm and 95% LVRs are possible, i'm assuming they intend allowing buyers to use super funds in lieu of a deposit.

My point is that it will be a very very complex JV transaction with the Banks trying to cover their risk and heavy regulation from the Government to protect  consumers and super investments.




 
"There's too many self-Indulgent wieners in this city with too much bloody money! Now, if I was driving a 1967 275 GTB four-cam... "



Offline allanuber


  • Joined: Aug 2007

  • Location: Sydney
  • Name: Al
it's good for making profit out of developing

stop trying to go out there an snag opportunities - you evil self-serving, destiny-controlling capitalist.
C'mon, do it!



Offline dodger

  • Tommy Gunna

  • Joined: Dec 2009

  • Location: Melbourne
Quote
HERE IS A HYPOTHETICAL FROM JEFFERY "NOCO" ROBINSON.

I became enthused with the Islamic movement as a young man and decided to join the Islamic brotherhood.......I was a sex maniac at the time and liked the idea of having more than one wife.

I married 4 women, had 17 kids and we were all well catered for with social welfare by the generous Australian tax payer......The kids went to an Islamic school and were heavily brain washed with the Koran which taught them to hate Christians and infidels.......The teachings being, if you are not a Muslim you have to be eliminated...... They then became racists......When the kids grew to teenagers they became radical and started to exploit there teachings, creating intimidation, fear and random attacks on non Muslims.....I then became dissolutioned with Islam and decided to excommunicate my self.....I did not know whether to hide or flee the country to save my head.

Because I left my 4 wives, they became adulterers and were stoned to death by their radical children.

The question is, should I seek forgiveness from the Islamic brotherhood, stay on the run or join One Nation?



Offline Fil-Ski


  • Joined: Feb 2009

  • Drives: 993TT
  • Location: Adelaide
Option 1 means immediate death
Option 2 means imminent death
Option 3 means you get called a Racist or Nazi

Tough choice.