Death by a 1000 cuts continues I see. But hey I hear CRE is up….. whhoopy!!

Misery Index Rising to 33-Year High on Abenomics: Japan Credit

sciencesurf wrote:

My opinion is that some of Freckles comments are heavily biased and do not give investors the full scope. There is no doubting he has a complex understanding of macro economics which is also needed to balance the hype. My feeling is the scales have been unnecessarily weighted in the opposing direction.

The bias is on the…[Read more]

ten_burner wrote:
The biggest risk is sitting on the sidelines in my opinion. I'm going to the US next month if you want to come Freckle.

The US is the last market I would be buying RE. You're following the crowd TB. The party's over there. Has been for a while. 

But good luck anyway.

SS you can argue the toss all you like but I don't know any top tier investor that is leveraging up. Every smart investor I know, know of or read about is deleveraging. That doesn't mean they're not active but they are far more judicious and conservative in their assessments and are reducing their gearing as they go. Most I know have been doing it…[Read more]

Qlds007 wrote:
Only aware of 2 lenders that will:

1) Allow a personal loan to be the source of deposit and good luck getting an approval above 90% thru them.

And not aware of any lender that will:

1) Approve a personal loan where the intended purpose is for house deposit. To state another reason and then use for deposit is of course fraud as…[Read more]

sciencesurf wrote:

Freckle wrote:

If the newbies here get their head out of their guru training manuals for a minute and take a look around they'll find that just about every top tier property investor is deleveraging as fast as they can 

This is a MAJOR assumption and simply not true.. Get outside and take a breath of fresh air.

Well…[Read more]

sciencesurf wrote:

Freckle wrote:

Honestly, I wish more 'top tier' investors, including Steve, would speak up and give some alternative opinions.

Steve's been ringing the warning bell for the last 18 months. He's even run a few freebie seminars on the subject… where've you been? 

jimchap131 wrote:
What I'd like to know is how you are so sure that you are correct when what you are discussing is so complex and multi-faceted? 

Simple logic. You can over complicate this thing but the reality is you can't grow debt faster than income indefinitely. China has been growing its debt at twice the rate of growth for a decade…[Read more]

Banks in general don't give a toss what you use a personal loan for. I've used them in the past and never disclose the real reason for the loan. Unless it's changed the CBA had no upper limit on personal loans. As long as you could service it they where happy to shell out the dosh. 

Personally I wouldn't use a pers loan for a buy and hold…[Read more]

ten_burner wrote:
Notice the date that this thread started, there were also some big calls during the GFC about the (supposed) impact on Australia, an here we are…

The GFC woke me up and I started taking a lot more notice of what was going on. By 2010 I saw the writing was on the wall. I projected a timeline some years ago and made plans…[Read more]

simple wrote:
I would call this scenario you have painted 50/50 chance.

No 50/50 about it. It's a 100% certainty. You can't beat the maths.

And heres an illustration of why. 

A property developer (over 50% of debt in China is property) pledges the asset to a bank as collateral. He repledges it to multiple banks as security for more loans…[Read more]

SuperZiyue wrote:
H.
How can I ensure that, at the end of the process, I will really be owner of what I've been told and I haven't got trapped by crooks?
 
 

You can't. Even if you lived here and dealt face to face with the individuals you may be none the wiser.

You go with recommendations by fellow buyers who have had successful experiences…[Read more]

Bend over and grab your ankles… if things keep unraveling at their current rate (especially China) Australia can expect to be in a whole heap of pain in about 6 months. Ukraine may be the black swan that actually kicks this thing off. Sanctions and energy restrictions in Europe (by Russia) could see a few economies go over the edge and trigger…[Read more]

Schplak wrote:
 what the typical property investing structure is. 

One negatively geared property is the typical property portfolio of the average (60%) Australian. The next 20% don't fair much better with only marginal profit at best. CG tends to be poor (around trend) in the 0-80% range. 

The next 10 -15% tend to have multiple properties…[Read more]

A builder mate bought a PPR house for reno last year. He was redoing a bathroom (upstairs). Complete reskinning and modified layout. He told me he would need to charge $25k if he was dojng it for someone else. Nearly fell off my perch.

Stepstomillions wrote:

I have been studying the US market for years

Studying's one thing learning's another. Listen to Jay. He's forgotten more than you'll ever know.

kylermrice wrote:
Sure beats mining for precious metals.

Mate gets around oz/day. His partner took out $44k for 6-8 weeks last year. They use the same system as these guys.. (click the pic for more).

They each have their own gear. Mate only goes for the big stuff. Reckons he lets go probably 55% of what passes over the screens as fine gold.

Currencies require 3 things;

acceptance (internationally recognised as valuable on a wide scale and legitimised by authorities)

integration (meshed in with other systems and legitimate currencies)

security (protected from loss while in the system)

Crypto currencies are a long way from meeting any of these requirements at this stage. Until…[Read more]

If they're good tenants who look after the place I wouldn't sweat it. I've had dogs inside for years…no smell no damage. They actually make more of a mess outside.

Rome Is On The Verge Of Detroit-Style Bankruptcy

On the first day of his premiership, Matteo Renzi had to withdraw a decree, promulgated by his predecessor, that would have helped the city of Rome fill an €816 million ($1.17 billion) budget gap, after filibustering by opposition lawmakers in the Parliament on Wednesday signaled the bill had…[Read more]