The other thing that people should probably recognise is that Steve has not bought 130 properties on his own. He has a partner, Dave.

In comparison, it is probably more fair to say that he has bought 65 properties in 3.5 years, being his 50% share.

If you know what I mean. []

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I also look at it in a pragmatic point of view. 3.5 years ago he started his venture. He has made significant money, but being a prudent business person I am sure he saw that the property market was slowing and exceptional deals were getting to hard to come by.

Steve throughout his book is an advocate for making money with least effort. So considering the property market, and Steve being a smart guy, he has now sold and marketed the strategy he had been using for the last 3.5 years. Whether it is applicable now, well… it probably is but not with the rewards that Steve initially reaped… ie. it takes alot more time and effort, and the rewards are probably smaller than 3.5 years ago. So Steve has compensated for this now, in doing the book !

Smart guy if you ask me

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Well said. []

Me too.

It’s dead set frightening to see the prices of houses in the major country towns in Victoria as compared to 2-3 years ago.

The locals shake their heads in disbelief.

Having said that, my guess is that the property prices will not drop much in those towns when the bubble deflates, but there could be some stagnant prices for a number of years.

Where in Northern WA?

In a nutshell, Broome is essentially a tourim town with some industry. It is absolutely booming and has been for 12 months or so. More a CG place than a pos cashflow.

Karratha and Port Hedland are mining/industry towns with big rental returns and fluctuating CG. Both are booming but are dependent on the state of the local economy.

cheers Brett

I agree Nats.

I think that it is a self serving piece of advise by Henman.

Fancy a man with multiple national agencies that are against auctions and only sell by negototion recommending that course of action.

rolls eyes

BTW, with a name like Brad Sugars are you sure he didn’t make all his money making porn?

The real FACT is that there is absolutley no need for any rise in interest rates at the moment. In fact, based on the underlying economic situation a cut is more indicated. However, the RBA will not cut rates due to concern over the real estate boom.

The RBA keeps putting out these statements to warn people and basically to scare people into diving into further property investments.

They want to slow the property market but dont want to rise rates, hence they only have the scare element left.

Having said the above, you have to do all proper research and buy the right properties because some people are going to get burnt when the market softens.