I never quite got into deposit bonds as I say it as a way of achieving 100% financing which was a little too risky for my investing profile.
My read of the RBA statement is simple enough: Those relying on capital appreciation and in for a rough trot.
The raise in interest will effect profitability of investments that do not have a fixed rate. It’s a good idea for all investors to calculate at what interest rate +ve cashflow turns into cashflow neutral and take appopriate action before this occurs.
If rates get back up to around 8.5% then I think things will get a lot, lot worse. FMI see the article I wrote this back in 2002 available at: https://www.propertyinvesting.com/article11_03
Don’t panic folks, but the time is now to reassess your financial position moving forward.
Cheers,
Steve McKnight
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Remember that success comes from doing things differently.
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Bear has approached me privately re: this this post and I am happy for him to post it.
As for advice, there are non-disclosure agreements you can asked to be signed, but at the end of the day acting in good faith goes a whole lot further.
I guess you could ask the person to pay a bond of sorts, but I think you just need to work closely with a potential buyer to get a win-win outcome.
Regards,
Steve McKnight
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Remember that success comes from doing things differently.
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I agree to a certain extent, but changes have been necessary given the large number of posts. I suggest that you just pick a forum you like and make that your stomping ground.
When we upgrade to the next version on Snitz I think things will move along smoother.
Cheers,
Steve McKnight
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Remember that success comes from doing things differently.
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I want to see a share trader or property investor who does it fulltime without selling books and seminars. Does such a beast exist or would that be another amazing story?
There are plenty of successful people who fll into this category, but you never hear of them because they don’t run seminars.
The bottom line is that acquiring eductaion costs money. I bet that those who are a success have either been to seminars or else paid indirectly by making mistakes and learning that way.
I share your thoughts about the Rich Dad thing… but after I realised that it was really just a story I said “Oh well, it helped me and that’s all that counts.”
As for going public, part of the reason for me doing it was to share the message, to earn the income to make resources like this website available.
Cheers,
Steve McKnight
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Remember that success comes from doing things differently.
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Call it an upopular executive decision, but at the end of the day, I want discussion to get back on track.
I received complaints from both sides (both in support for and against various forum members). Since it is impossible to try and fix the problem by leaving some posts and not other, I’ve decided to remove the lot.
Go crazy with e-mails between yourselves, but remember that this is an investing forum, not a place for you anyone to make personal comments.
To this effect, I have (and will continue to remove) remove all posts that are a personal nature that have nothing to do with investing.
While I’m sorry for any offence caused, it’s that simple.
Bye,
Steve McKnight
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Remember that success comes from doing things differently.
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I’ll be a lot more happy when the forum reverts back to people asking questions and the community brainstorming answers.
I’ve had enough of the critical banter and namecalling.
I’ve taken the hands off a little bit lately, but I for one am not enjoying where the forum is going, and in order to bring it back on track I’ll be around a lot more over the upcoming weeks. Changes have already been made and more are coming soon.
Cheers,
Steve McKnight
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Remember that success comes from doing things differently.
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I re-read my post and didn’t see any point about buying now… just the need to take a position and act accordingly.
If your position is that it will be a good buying season soon, then the time to prepare is now, not when easy credit is a memory or when you can’t access cash.
What I said is that recent sentiment simply marks the end of one phase and the beginning of another.
Every investor needs to make up his/her own mind about what to do moving forward, but I would say that great deals exist in every market (when you know what to look for).
Ill-conceived? I don’t think so. Just a warning for those about to go ‘boots and all’ into property that now is time for caution.
Cheers,
Steve McKnight
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Remember that success comes from doing things differently.
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I wholely agree with other posts and join with them in thanking Bill for his input in this forum.
His charity vision certainly sounds meritorious. Those who would like to find out more information about his cause or would like to donate money should contact him directly at: [email protected]
Please, no further pledges on the forum – contact him directly.
Thanks,
Steve McKnight
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I tell you what… send them to [email protected] we’ll put them up on the site and then give out your e-mail at the bottom (with a big juicy plug) so people can contact you.
I don’t like long posts with people leaving e-mail addresses. It’s an easy target for e-mail mine bots.
Cheers,
Steve McKnight
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Remember that success comes from doing things differently.
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Heard an interesting quote on radio the other day. Derryn Hinch quoting from one of his mentors I think…
“News is something someone doesn’t want printed. The rest is just unpaid advertising.”
[?]
Oh, and in my dealings with TT, they have always been professional, if not a little rushed. I guess they just have to get a cross section of stories up every night that appeal to their mass target market – hence property followed by shampoo.
Steve McKnight
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Remember that success comes from doing things differently.
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