Forum Replies Created
Wright again GMH, did you watch the news last night,
The look on Peter Costellos face now that there will be another interest rate rise the only thing he could say was “its good news that petrol prices have come down and the average Australian will benefit enormously …
So is he saying “well interest rates are up but that will be offset from cheaper petrol prices”
I just want to scream !!!!! – oh well we’re in good hands??
D
Hi CT yes it is unsexy to tell it like it is … because people are ashamed to hear it.
The sad fact is bar the few 3% who will succeed the remaining 97% are falling further behind into debt and a life of misery… just watch ACA tonight and you will see why,
Dah this guy is dumb, hello credit cards and store accounts plus car leases won’t get you rich!!!! ah actually it might even get you futher away from it … and who does he blame … oh i got it in the mail so i thought ah oh why not i deserve it … you sure do sonny …
I know lets go get a 106% home loan i know lots of brokers who push that product (just to get a fat commission)
D
Just a quick thank you to all the people who have responded or read this thread …
It is obvious there is great concern out there currently especially when the rates rise even further, however thanks again for responding to this very successful post …
LOL
D
Hi GMH,
Makes me remember the famous words of Kerry Packer …
Every body needs one Alan Bond in their life at some point!!!
Is the property next door forsale??
D
Funny GMH … you can make up the difference by getting a Virgin and Aussie low interest creditcard and loading them up with debt.
Or
Use Henry Kayes formula of buying 1 million of property with a million debt, but u r still a millionaire, go figure.
Or
Adopt the principles of Steve and buy 260 properties positive cash flow in 7 years.
I think given the choice that number 3 looks like the best bet, sort of makes me feel bad that we only have less than xx – must be doing something wrong.
D
Vinnies are a charity and i think it is sad that they are involved at this level, the real deamons are government departments not teaching financial literacy at schools ….
What is happening in your life today is a RESULT of past DECISSIONS we make , it is nobodies fault other than the people who impliment those decissions. (self)
For things to change WE must change – “responsibility”
D
Yes GMH we see this first hand as well in another part of our business …
It is so good to talk about wealth creation however it is so sad that so few take up the challenge and do it correctly.
On Saturday night we were invited to a function where an interesting discussion came up about property and even the owner of this site was mentioned (in a positive way)
There is a great devide happening in the market place – every body wants to be rich and happy, however it just will not happen for the many.
Your are right GMH and others pointing out that these poor suckers are getting in with 106% loans then the nice car (on lease) then all the fancy stuff in the house (on credit)
Its the great Australian dream “To own your own home” but just because you have one doesn’t mean you are safe and happy. Many people are missing the secret!
Too many unsophisticated people do not apply the basic fundermentals in financial literacy 1 + 1 = 2 and i’m not counting credit cards. Then we read all the books of which so few are written by over night success storeys (SMcK not included) giving theories that don’t work for the masses.
S.McK first books are very inspirational and i only hope that if there is a third one that it isn’t titled 260+….. because the people i spoke to said they feel like loosers because they don’t own one property and are struggeling to raise a family and meet their over heads.
Every generation is faced with challenges 20’s 30’s 40’s 50’s 60’s 70’s we are not all the same and not every theory works for every body. Determining what level of wealth and happieness for each peoson is the key – the law of attraction.
I would love to see the stats of the 42,000 members here,
age – number of properties – getting started – nett worth over 5 mill – more than 5 properties – etc etc it would be very interesting.
The information available to us today is emence so why do so many FAIL ??????
And in closing GMH the answer is simple because Branson (virgen) and Simmons (aussie) have the answer because they have the “secret” !!!
Cheaper credit Cards !!!!!!!!!!
D
Hi GMH
Peviously you mentioned that when we see programs on TV where people are being thrown out of their homes ……… well i think your prediction is about to come through.
On the weekend was a doc that forclosures are increasing at an allarming rate, even the missions were getting involved.
Then as “simple” pointed out commercial properties in QLD are going through the roof, we see this all the time up there even down to the Gold Coast.
The Perth market appears to have hit the top, now people over there will start to get worried and start to panic!!
The top end of town all over the country are experiencing record prices, ocean fronts on the GC 800m/2 selling for 15 million, water fronts in SYD going for crazy prices …..
So the RICH are getting RICHER and the Poor are getting poorer creating the great devide, all we need to do is make certain we are on the rich side then “who cares”
Only 3% will make it, to independant wealth
95% of people at age 65 will struggle to survive in retirement
80% of the population today is below the medium standarts
The numbers don’t lie and then theres credit card debt but we won’t go there – she’ll be right mate (wrong!!!!!!!!!)
D
Thanks simple but i don’t think it is that “simple” and “so what” well i believe that the idea of this forum is to discuss the effects in the market with our investment strategy.
Yes there are a lot of people who bought at the wrong time and are going to lose big, mostly from greed.
To be honest purchasing resi houses can be a bore and there are many others areas in realestate to make money than houses.
Purchasing at the correct time for the best price will maximise our returns, so now the question is when and how to enter the market.
We believ that the resi market will not come back till at least half way into next year. IMHO the market has not bottomed “on average”
D
Hello all,
Well it appears that interest rates are going to rise as i heard this morning
Interested to know your thoughts – investors – price drops around the country – and worried mums and dads ..
D
Dear asdf … i don’t know, some of this confuses me …
Australias population is very small for such a large country.
Imagration is still increasing which may take up the slack.
2010 – 2020 will b very interesting indeed, who really knows.
Peoples needs are changing to housing and life style changes. Instead of the urban sprawl we will see smaller dwellings closer to the CBD’s
Australia is still more affordable than the rest of the world IMHO
If the BBers move to Queensland for life style that must mean opportunities in other ares for investing.
“the deffination of an economist is some one who reads the past”
I could name people hear who i receive emails from saving the property market had bottomed 6 months previously, we should be careful what we put to paper.
I believe the market is still falling, however Eastern seaboard and waterfront properties are going through the roof … why buy houses lets expand our views
The secret to real wealth is the rule of 72
D
Thanks Foundation very good info …
It would be interesting to lay your graphs over every generation back to 1950 to see if there are any patterns.
The only major change i see in the near future is the Baby Boomers entering retirement from 2010 and what effect this will have.
When you see what is happening in places like Dubai and Asia i believe Australia is very affordable and safe for investment and especially for education and raising children
D
Thanks Canam
What i cannot understand is why people are buying in Perth with such bad rental returns to cash out lay, is it just the heat in the market ?
and have the rents been increasing over the last 6 months or so?
D
And they said that Perth would not fall!!!
You know the really funny thing is that human beings are stupid, i mean lets be honest its been in the news for 3 years now – cycles come round to every state.
Opps Perth should be exempt, because its not on the eastern side of Australia so it should be treated differently, oh really.
gread gread and more gread, the truth is that the medium house price range in Perth is not consistant with other states in Australia. Now i know that iwill be challenge by my learned colleuges so give me the reasons why – then sign it, because i believe that the numbers don’t work actually i believe they never have.
perthis a beautiful city – for the right price!!!
D
OK this is an interesting topic …
Firstly lets look at the need … if this forum and many other “clubs” are not working where are they falling down??
The ASIC will not let you use the word club so be very careful here.(go ask the asic)
Secondly what are young investors really looking for – “how to get started” – try working and saving, we all started the same way.
“The problem” we have had a lot of experience in this area and over a 7 year period have analyised some interesting results
1. The basics are not being discussed
2, People go away more confused than when they turned up
3. There is no structure because of no experience
4. Young people take unnecessary risks to get RICH which isnot the purpose
5. Who is the leader – there must be one!!
6. If you are just getting together for a chat you are better off here making NOTES – don’t just read these forums TAKE WRITTEN NOTES they are worth gold
We were young once as well and were just as eager to succeed (still am) ifyou are under 20 (if that is the young age???) don’t just read -learn how to write notes and then research
Poor people WORK rich people NETWORK – turn yourself into an action group by finding 5 people committed to succeed – work out a plan – decide on a project – design portfolios – then go do it.
I am a member of a group 7 of us, we all have a job to do, we meet once a month and have projects to do in between, we have a chairman, action lists, agendas and the meeting goes for 3 hours if one person does not perform they loose profits from the project.
If you are not doing someting active from being part of this forum you are wasting your time here, take notes and go and DO
Nothing worse than listening to an expert “that doesn’t walk their talk.
How about starting ” the young investors action group” make a list of members, break up the numbersinto 6 people and start an agenda. Meet once a month as a group and every quarter as “forum”
Good luck Pejota – you don’t find leaders IN the flock …
D
Once again ???? this all sounds very nice and rosey …
OK giveme an example of a real property that will perform to your committments … what would the investment property have to do inyour perfect world to achieve your outcomes???
Remember the 3d’s
Property does not go up in value every year
What is your fall back position
Is this a strategy that experts are doing now or just an idea
Note; if the numbers don’t work, don’t rework the numbers
D – i’m not being negative on this however this sounds like a out there type of deal and we know these seldom materialise …good luck
GMH herei s a thought
With all the experts on this forum we should be talking about how to develop instead of purchasing …
Investors get returns … developers get rich.
D
We have many great internet names which will be activated next year … my suggestion is to reverse think,
1 do a market survey as to what investors would want
2 make a list of the common words used and play round with them
3 use an acronym
apin.com.au … australian property investors network …
how about … ripe.com.au residential investment property experts
better hurry or we will register !!!!
D
wealth4women.com coming soon
wealth4teens.com coming soon
resifind.com – free property advertising – coming soon
resisearch.com ” “Dear Illusion,
never be MISillusioned that education in not needed in this day and age!!!!Read books and attend any free information courses you can, you can play what if games all day long but the reality of the deal only comes when you are in the game with your own money.
D
How’s the soup going Gross i’m interested to see whats happened to the pitcher, really i am as it must be very nervous pulling this togehter in a sliding market, also would be interested in what suburb it is.
D
