Forum Replies Created
I would prefer to have boils on my bum than let a financial/investment planner guide me.
A bit like the chicken inviting the fox over for dinner.
Chasing link backs for Prop Res again Chris?
Now this is SPAM
PLC wrote:Ah the good old doomsdayers, where would we be without them the last 10 or so years?He's in good company then. Every financial player worth his salt is saying the same things. Humans like to stay positive and talk up their chances even in the face of adversity. The problem with that trait is that it often means we hang around too long for our own good. There is a theory that crowd think has a way of generating the most correct decisions but what is often ignored by the promoters of this theory is that it lends itself equally to group tragedy – think lemmings.
Just because Dent is a vocal supporter of a crash prediction does not mean he is wrong. This current global financial crises was seen years even decades in advance. What has always been difficult if not impossible to predict has been timing and severity. A quote from that article seems extremely reasonable to me and many others who choose to look ahead with a more realistic view.
"Australia is probably the best place in the world to survive this, but we do think Australia will not escape as well as it did from the last crisis (in 2008),'' Mr Dent said.
Dent isn't predicting doom and gloom for Australia but warning that deteriorating global financial conditions will adversly affect Australia to some extent or other. There are many who will think that if they just shrug this off as another alarmist prediction they will be alright. In other words a head in the sand approach will see them through.
They will be the least prepared, the worst affected and the most surprised when financial distress comes knocking on their door.
PLC wrote:As Colin mentioned, its about supply and demand.A simplistic and inaccurate assumption at best.
Don't take it to heart James. Around here the pot likes to call the kettle black when it suits. Like i said on the last thread before it was deleted. Put your credentials in your sig and post indirectly in the text body like everyone else here who discretely refers to their services by either offering advice or elaborating on their markets and their particular specialty.
As for soliciting business everyone here who is professionally engaged in RE has his shingle out.
Be wary about all this marketing fluff. There's a storm brewing and while things might seem rosy at the moment there are way too many downwards pressures on the economy to start getting ahead of oneself.
The employment picture is changing and rapidly. Full time job growth is crashing and part time employment is contracting. AU needs to generate 1000+ jobs per day just to keep up with population growth let alone replacing lost jobs.
VandeveldeEmmanuel wrote:I buy an apprartment in uruau by ipin. 4/5 years later still waiting for delivery. I paid 70/80% of the amount. I didn t hear anything for sometime. Pitty because the risk to lose al this money is great. Buy something that already was built and go see it. That is my lesson . But i tought to work with a very professional team.You may have lost your shirt anyway..
“We are in full-blown financial contagion mode. There is no point spending too much time trying to pick and choose when faced with a severe market crisis like the one we are witnessing,” said Benoit Anne, head of emerging markets strategy at Societe Generale.
“Right now, sell everything.”
Emerging markets are in trouble and could signal the start of the dominos falling. Brazil's economic problems are escalating and my instincts tell me it's going to substantially worsen over the coming year.
JacM wrote:You have debts that will take you a couple of years to recover from… why not hunker down and clear those debts first?Yep and the world will be still going round and round and there'll still be property to buy and sell.
As the boys above have said your aim is always to neutralise or eliminate costs on non tax deductible elements first.
Offsets offer 2 benefits namely they reduce overhead costs but more importantly support/smooth cashflow and provide liquidity when opportunities present themselves with only minor administrative load.
Sellers know you are looking at more than one property and that price plays a key role in any decision a buyer will make so the way I do things in this situation is for want of a better term make a reverse offer.
I suggest a price I consider would interest me and get them to make me a personalised offer. If they choose not to you know they won't accept your price and if they do then during the course of negotiations you can say no and suggest a better price or accept the offer. It just a ploy to keep you legally non committed.
This strategy is most useful when there is a lack of buyers and less so when there are multiple buyers, however, when you're competing for a place then when a seller makes the offer they can often be lower than you might reasonably expect (if it went to auction for example). So rather than a bidding war where the buyers make offers and the seller plays them off you get them to make you an offer and accept it if it stacks up. That can euchre the other buyers.
Get them here.Just download them
engelorumora wrote:Freckle you crack me up.I thought I would join the white side for 1 comment before I go back to my overseas section haha.
I consider Nathan as one of the best and most genuine property guru's in Australia.
Taught me a lot there is to know about how the game works.
Thanks and have a great day.
In my life I've learnt far more from the dodgy buggers than the good guys.
Not talking about learning but employing others to do the leg work. You can learn all the game theory you like but at some point you have to put your boots on and get in the game.
My take is that Waydo is looking to buy prequalified leads.
Would I recommend them? – depends. From personal and direct inside knowledge I know they've got a problem with how they look at customers. Daniel needs to up his game in that area.
It isn't rocket science. Both principles of BI can do this stuff on the fly in their head because they've taken the time to learn and practice the skills required. They have a very aggressive approach to PI and think outside the square when looking at deals.
Neither employed others to do their leg work that enabled their success and that should speak volumes to the budding PI. If people need a crutch in this business I suggest they find another occupation. Perhaps knitting.
I've got my guy working on it for you as we speak….
waydo77 wrote:so in theory if you depreciate 20,000 from a property that cost 200,000, your cost base would be 180,000, meaning that 20,000 is also now subject to any CGT aswell as any other capital gains made.
Asset depreciation is on the building only not the land then you have plant and equipment depreciation. In the scheme of things depreciation is peanuts and only a brief bonus of any account. CG is always speculative and while many include it in SS's it should never be more than trend.
Too many people look too far into the future with SS's. It's crystal ball gazing and a distraction form real events happening now. You can easily lend too much weight to decisions base on what may happen in the future.
SS's are a what-if tool (and most are poorly designed as well as poorly understood). Beware of what they tell you. You can make them sing a sweet song and they can dupe you when you least expect it.
JacM wrote:Nothing like a bit of spam for a Wednesday morningBit of virtual competition for Wolfy..
Benny wrote:I'd say keep looking. I spotted a house sold at auction in Kingston a few weeks back for early two's ($215k?) – with a flick of paint and little else, it would have been a $250k+ property, and able to be rented for $300+ per week. THAT is more the kind of property that would set you on your feet. I'd say keep looking…. Don't be in a rush to lock one in. There will be other bargains coming along if you are looking for them.
Benny
Benny's right. You have a Buy-Hold-Pray strategy. You need a Buy-Reno-Definite Growth strategy. When you have a small grub stake to get going with you have to leverage it up with something else to get growth going. The least complicated and most successful method is to reno.
I thought Doug Noland hit it on the head when he said..
-
Backdrops conductive to crises can drag on for so long – sometimes seemingly forever – as if they’re moving in ultra-slow motion. Invariably, they lull most to sleep. Better yet, such environments even work to embolden the optimists. This is especially the case when policy measures are aggressively employed along the way, repeatedly holding the forces of crisis at bay. In the face of mounting risk, heightened risk-taking and leveraging often work only to exacerbate underlying fragilities. But eventually a critical juncture arrives where newfound momentum has things unwinding at a more frenetic pace. It is the nature of such things that most everyone gets caught totally unprepared.
Specific information is rarely free unfortunately so unless you have a subscription to a historical records provider you'll invariably have to pay. You generally don't progress to this stage until you've done a fair amount of DD and the target property is looking like it could make the short list.
You can access all the info via Landgate for a reasonable fee
Benny wrote:That is a good system. It beats taking their values as gospel, only to find they were "guessing" e.g. the red dot.
Benny
They are guessing Benny. Anyone who says I think the price is X give or take 10% is talking a 20% spread. Might as well just pluck figures out of the air. These are gimmicky tools they invent to make it look like they know what the hell they're talking about when the reality is they're just collecting data and shaping it into a marketable product for all the Patterson's of the world to muddle over.
