Hi DvaneI do some contract work for some one who I believe is very up there, although he does not want to go down the seminar/guru path as others do – if you want access to the best collection of full colour cheap webucation and ebooks in the world as well as a real developer go check out http://www.apin.com.au There are 28 accounting Ebooks FREE as well as lots of other really cool and very valuable information for under $10.00 which is a fraction of the cost.The owner of this site is about launch a 25 module full colour on line webucation course covering how to get started up to how become a DIY developer – and you won’t believe the price, so no seminars or week end boot camps. Oh also free mentoring with every coach a fully licienced broker, agent, developer, fin planner etc etc check it out – site is about to go through a massive upgrade so be patient, i shouldn’t even be telling you.D

Hi Amanda … Interest rates prediction …

I believe that they will leave the interest rates for the first 3 and then UP ??? some people are saying that they may go down however based on the US going up now, I feel we will follow. Secondly the government is in an election year and they have lots of pressure to keep it stable otherwise all hell will break loose.

New buyer confidence is very low at the moment, building approvals are down and 80% of the population are finding it very hard to make ends meet, wages are the same but petrol, school fees, groceries, etc are up.

Hi Picklesam …

Don’t worry where you are worry about where you are going, change your roots = change your future go and get http://www.thesecret.tv DVD then go and get http://www.thesecretvisionbook.com “things will change” and I think you are doing just fine …

Hi GMH and happy new year …

Yes GMH these people know there is a problem but they still make the same mistakes … it’s like the river that used to flow past the pyramids “denial” of courseolder people have more thats the whole point, these younger generations need to realise that they can’t compete and should move into a world of creative … maybe if they stopped watching TV we would not get inticed with all the FREE offers …

D

Thank you so much L.A what an interesting responce …

As to following the USA i think we are already there … What about Kiyosakais teachings or isn’t he that big over there as we imagine he is ?

Lets put a prediction on when Australia will hit $50bn credit debt.

There are some great bargins here, even in Sydney we just bought 3 houses in Cambeltown in great locations and all are positive cash flowed because we offered stupid cash 30 day settlement prices. People and banks are crazy, you can’t buy land and build a cheapie on them for what we paid and we didn’t have to resort to investing in mining towns which now the ROI is drastically changing.

D

Hi all,

Well i think the next 90 days are going to be very interesting reading indeed, i would like to re-read all the gurus preditictions again in 2006 especially the ones trying to push the market up.

Xmas is here and like the property market consumers will get carried away in the freinzy of buying on credit cards and start getting the depression pills out in Jan 07 when the statements come in.

As i said earlier in another post – Australian Credit Debt will hit 40 billion dollars in or around feb 2007 – why is this important – mums and dads are already feeling the pinch of the mortgage rises and de-valuating of the family home, now add the credit card to the payments and woska!! ouch what do we do now??

My second preditiction (next to credit cards) is the mums and dads and first home owners still have plenty of pain to go before the gains start coming. As for Perth well, “we told them but they didn’t listen”

Best time to buy realestate in 07 is ???????

Buy low sell high – take the profits and reinvest …

D

Hi GMH,

I think you are right in predicting that there is worse to come for the out west in SYD, my sister in Cambeltown is packing it big time as they have a house today worth $300k (was $400k) and now there debt is $325k.

Hi Foundation,

Yes lets see what people do this year at xmas to their little Aussie or Virgin low interest rate credit card – boy aren’t you glad you have one of those little babies, Credit card debt hit a new time high of 36 billion dollars – so i predict that Aussies will hit 40 billion in credit debt by January 2007 – go Aussie go, you little beauty, but hey why not its been a hard year so at least lets have a good Christmas.

L.A Aussie,

I don’t think the smart people are buying property at the moment, I think the smart investors are waiting till after xmas possibly May/June to start buying – the people and big developers I talk to are sitting on the fence ready to pounce on another 15% drop. Are they right or wrong, well lets wait and see …

D

The RBA looks at the over all picture and not necessary one particular area.

We just came back from visiting 9 country towns in NSW out to Cowra, i don’t know but with the water crisis and jobs its pretty scarey looking to invest in those areas.

I feel better investing near CBDs in major areas … the next interest rate rise will concern a lot of highly geared people.

D

Dear CT & CL well here are my views before we go to the country for 3 days with the kids to buy some more property.

My research shows that people are really hurting, especially young families and first timers. One of the suggestions we give to people when starting out is not to buy a house but to start small and get a unit or second hand town house. The reason for this is that too many people when they get a house spend thousands to impress their family and friends with, pools, bbq areas, plasma tv etc etc. (on credit) Plus its hard work to keep your home maintained to the highest standards to maintain its value.

I read reports all the time from gurus trying to say that we are at the bottom, well i don’t think we are and i believe that there is more hurt round the corner, i could write a book on the reasons why, but lets see if i am wrong.

The bargins are in offering people stupid amounts of money for properties that people need to get out of because of financial difficulty. A friend of mine bought a second hand property in a great area of Cambeltown in Sydney on 750 m/2 – 4 car garage – 4 bedder the asking price was 380k and was a divorsed sale they got it for 265k with nothing to spend and are renting it for 415 p/wk.

Some ones bad luck is some one elses good luck, sad for some happy for others but thats business – its no different to buying businesses you have to negotiate hard to win.

I still believe today that the one underlying problem is financial intelligence, like 2+2 = 4 its easy to spend the stuff but harder to save, poor people have bad credit rich people have credit. In general when interviewing people i find that peoples problems today are a result of poor planning yesterday.

The second biggest problem is that 95% of people don’t want to change their mind set because they feel that they are reducing their standard of living, well this is going to happen naturally the way they are going any way but they just can’t see it.

I believe we are entering a buyers market, properties on the outer suburbs of most cbds will be snapped up for bargins and an 8% + return on residential will not be unreasonable, actually we don’t buy now unless we can get that as a miminum – make the offer, leave a business card then walk away.

The gurus now are running seminars on how to borrow to buy property i thing you should be going to seminars on how to research and buy bargins. Financing is easy when the deal stacks up to the bank.

Just in closing let me prove how stupid people are with money … xmas is just around the corner and we know people are hurting … my preditiction is that this year we will set a new credit card record – after all its been a hard year and we need to treat ourselves – it won’t be long before we hit 40 billion dollars in CC debt.

Bad times ahead ahead YES – bargins to be had YES – good luck … oh have you seen http://www.thesecret.com

D