Forum Replies Created
I thought it was unncessary too, and to be honest it actually gave me a very poor opinion of the investor in question. She seemed incredibly callous, using her ex that way and being so flippant about it.
But maybe that was just my interpretation.Keep smiling
Felicity
Maybe some of the festive season spirit is rubbing off! [:0)]
I agree, though, it’s much nicer to come in here for some good, positive discussions that help people to learn and grow.Keep smiling
Felicitytoystory
I wouldn’t define 7% as lowballing. It’s generally accepted that between 5-10% of a listing price is regarded as “cream”, because most agents/vendors expect that the first offer is always going to take a bit off the asking price. Reality doesn’t always work that way (I’ve offered full price twice on houses that were already bargains – so it’s relative).
Lowballing as a practice is generally asking for a seriously big discount, like 20%. I’m using figures as a guide, there aren’t any “rules” about what % consitutes lowballing, but just to try and illustrate what I mean. Suffice it to say that it means offering a price well and truly below market value in the hope that the vendor is desperate enough to take it. You can tell if you’re lowballing because an extremely high percentage of your offers will get knocked back, quite often with negative comments from the agent…. [}]Keep smiling
FelicityHi burbonbill
Technically I think they can act for both parties, but you definitely don’t want them to.
After all, if there’s a dispute, whose side will they be on? They can’t really be on both sides! (although I’m sure they’d be happy to try [])
So find yourself another lawyer.Keep smiling
FelicityHi wezwaz
I stopped trading about a year ago, mainly because I found that with ferrying kids about to kinder, school etc I wasn’t around to focus and analyse when I needed to be.
I didn’t draw a huge income from it, I had capital of around $50,000 which was mostly used in margin so I could write naked calls and puts (this is where I write options but don’t own the underlying share – not for the feint hearted, let me tell you!!!).
I averaged (and I mean AVERAGED) around $3000 per month return. Mind you, I had one month where I lost nearly $10,000. ouch!
It taught me a lot about myself and my strengths and weaknesses. I definitely wouldn’t recommend options trading to someone who hasn’t been successfully trading shares for a while first. I had been doing that (albeit on a smaller scale).Keep smiling
FelicityHi wezwaz
Let me start by saying I don’t run seminars!
I have to disagree with your statement“e.g. the theory says you can make money no matter what the share market is doing. Yeh right. Big money is made in a bull market, not a bear or sideways market. “
I’ve done a lot of options trading, as well as share trading, and yes, you can make big money in a bear market. I’ve done it plenty of times. You just need to use different strategies. A sideways market is trickier, I’ve found it’s possible to make a steady return, but not the big returns you can get in a bull and bear market.
It’s good to be cynical up to a point, but also don’t let your cynicism lead you to believe that something isn’t possible. Maybe it is, you just haven’t found out how. []Keep smiling
FelicityHi kay henry
I am from Victoria, so it may be different elsewhere.
I alway put all my offers through with a 3 week finance clause. Three weeks is usually enough to get a yes or no. The cooling off period is inadequate to do that.
Depending on what sort of offer form the agent uses, many have an automatic clause there, the agent just fills in the details ie the date and amount of finance.
Other contracts you need to write your own clause in under special conditions.
I ALWAYS put this clause in, because it gives me an out if I need it. The cooling off period is nice, but it isn’t always enough time to get inspections completed either.Keep smiling
FelicityHi all
I don’t want anyone’s contact details, just numbers!Keep smiling
FelicityCrikey, Stuart Wilde, it’s been a while…
I remember, 15 year ago, when I was ….
oh sorry, gone off track there!!!!Keep smiling
FelicityThanks Alwayslearning. Mind you, I took a look at the Liberty site and they’re very short on detail when it comes to their interest rates…
Keep smiling
Felicityrobo
Is $25 a week for rates correct? That would equate to $1300 a year, which sounds a heck of a lot for a house worth around $50000.
Maybe $25 a month? That would bring your weekly return up almost $20 a week, sounds much better!Keep smiling
FelicityIn “The Millionaire Next Door”, the author goes to great length explaining the pattern of 3 generations of wealth.
You have the 1st generation who create the wealth – they are usually poor entrepeneurs, who start businesses and work like trojans to create the wealth.
They then want their kids to have everything they missed out on, and so give them everything including a fancy education, so a large percentage of their children become doctors, lawyers etc, with a taste for consumer goods.
This 2nd generation therefore have a job (not an entrepeneurial mindset) and a lifestyle that sucks up every cent they earn, because they are rabid consumers of goods. This means that they almost always live beyond their income, and the parents often pay for things like the education of the grandkids.
So for the 3rd generation, they are also brought up to be consumers with fancy jobs – only this time their parents don’t have the spare money to bail them out because they’ve already spent it all themselves.
End result – the 3rd generation spends every cent they have and more, and ends up broke.
that’s the gist of it, anyway. This doesn’t happen in every family, of course, there are many that are smart enough to raise their children to have the smarts to go out and make more money (sounds like C2 falls into this category), but it certainly was an extremely common trend amongst US millionaires.
Fascinating book, by the way!!Keep smiling
FelicityHi Future$
It’s perfectly possible to build a property portfolio with small kids, mine are 6 and 2 and I started not long after the first one was born on my passion for investing, so they’ve been through all the stages! I find that they are incredibly adaptable, and actually enjoy it in a lot of ways. I know that hubby is being retrenched shortly, and won’t need to go and get another full time, stress filled job thanks to where we are in our investing journey. What’s the value of the time he can now spend with our kids? Priceless…Keep smiling
FelicityI think the only “problem” that the enormous influx of newbies has caused is that there’s now so many posts on here, I can’t keep up!!!
I basically only scan headings, so I’m sure I’ve missed heaps of great discussions. I just don’t have enough time to spend online going through everything.
Sigh…. []Keep smiling
FelicityHey Mini
I haven’t watched news or current affairs for more than 10 years now, no loss!! []Keep smiling
FelicityHi Sophie
This forum doesn’t specifically hold meetings (that I know of!).
However a bunch of people at the ninemsn message board hold a monthly meeting in Melbourne for property investors to get together.
I usually remember to post details here as well, and with the new forums I will probably put it in the Soap Box forum.
The meetings are usually around the middle of the month, so keep watching!Keep smiling
FelicityHey Arty
Happy to transfer all my money to such a worthy cause, perhaps you could just post your bank account number here on the forum, preferably with any login and password details required to access the account to make it easier for me to transfer the money….[}] []Keep smiling
Felicityhi Aafreen
Melbourne is a big place!
Do you have a specific area within Melbourne you would like to buy? Some wrappers (me included) buy houses and then find the wrap buyer afterwards, so you may find that if you mention a more specific area, someone like me might say, hey, I’ve got a house available there, and so be able to give you some more accurate numbers to think about.Keep smiling
FelicityHey insider
Thanks for the informative reply, I’ve heard of this sort of thing but never known where to find them… Do you have any sort of contact or website that specialises in this sort of thing?
I am interested in finding out more, because having a lot of money tied up in my properties can be a nuisance sometimes, and I’ve heard this type of thing suggested as a way to pull that equity out.Keep smiling
FelicityI think Network Marketing companies are very much like anything in life – you will get some people who make a go of it and succeed (usually 5%), and the rest will fall by the wayside. Take a look at some of the statistics on property investors and how many properties they own, and you’ll find the same 5% success rate there too (ie people who buy more than 1 or 2 properties).
It’s not the opportunity itself that is flawed or a bad thing, it’s what the person taking the opportunity makes of it.Keep smiling
Felicity
]
])
]
