Forum Replies Created
Sorry Simon i disagree with you that the average loan was 80k when interest rates were 17%+ – we had a 240k debt when the rates started going crazy, i don’t know how old you are or what experience you have in going through this type of situation but it was not pleasent for us and our friends.
Good business people went under because of the Keating era and not because of bad management, i hope you never have to experience it but it does build character in some ways.
Only 3% of people will make it financially to retirement including the members in this site, just read the responces to the posts and you can get the drift of what is going going on out there.
As i have said on my other post 95% are doomed to fail, if i’m wrong prove it to me or do a site survey. Property prices are falling and the average person is scared to invest in multiple properties.
We own multiple properties including commersial and industrial and vacant land for land banking, but the most important asset is cash flow to continue.
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Yes we looked at Perth as well and found it far too expensive compared to say Queensland which has all the factors of better growth.
Queensland is moving backwards now and we have identified some great deals especially small shopping centre complexes as we are getting bored of investing in houses and puting up with tennants etc
The fact is that all the experts over the last few months trying to pump up the property market have got it wrong. Unless you live on the waterfront the average mum and dad property is going backwards and will get worse IMHO – lets see shall we?
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OK i’ll start,
If i was starting out again i would take the advise of an old real estate agent many years ago who told me to invest in one bed units close to the city.
He suggested main sudurbs in Sydney like – Parramatta – Carlingford – Ryde – Gladesville – Balmain – Rozelle Nth Sydney etc
I bought and still own a one bed unit in Balmain in 1984 for $42,000 and it has performed so well over that time.
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I believe Simon that if we set achievable targets and reach them we are on the way to achieving happieness.
Sadness is when we feel life is not delivering and we are losing hope for the future. Just look at the recent surveys where 65% of people are uncertain of the future.
You mentioned previously that you are not a great role model however you are a moderator in a very successful forum, are you scared of investing to the level that Steve and Dave do.
To be rich and happy means so many different things to so many people, personal debt and credit cards are out of control – if people could get rid of that debt alone how mush happier would they be i wonder.
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To be RICH and HAPPY is the quintessential dream and desire of most people yet few of us become RICH and not many achieve genuine personal HAPPIENESS
Why is That?
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So do you believe as well Foundation this may happen.
We went through the high interest rates in the early 90’s and hit 19.33% on a standard home loan – this country would crash today at 10% IMHO
He does have some very interesting points collected from his team of experts.
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Ther are too many brokers around any way – where i live there is 11 brokers and 5 banks on the same road, surley these people must be find it hard to survive – thats why they are giving cash back to get the business …
IMHO
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Jessmont well said,
Hey just had a thought, how much money are each of the moderators worth and what is their opinions on wealth creation.
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I think Florida is the go, similar to Bris/Gold Coast but closer and greta beaches …
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Very good ideas
Replace the letter box
Put large numbers on the house at least 150mm high
In drought conditions use lots of mulch and redirect the water from basins and sinks to water them – why put it down the drain when it acts likes rain.
Trim large trees to let in more light
How about window boxes at the front
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Oh Simon 3 women in your life god is giving you a lesson i am sure ha ha …
1 – I believe that women prefer to deal with women professionals as men in the past are like slick car sales men, while women take more care and attention.
2 – Men wants lots and lots – mine is bigger than yours bla bla – women are content with less, its not a race its a journey.
3 – Women are more aware of the number crunching while men rush in too quickly, ask your wife if she agrees
Thats a start Simon, i’m having fun … any girls here to help i may need it!!
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Hi Tim the front fence is the most visible from driveby inspections so have a look at the rest of the street and becomecreative.
you don’t need to spendmillions to get the desired effect, sobecreative.
OK i’ll add in curb side appeal such as regrassing the curb or installing 2 new schrubs etc
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Great reply now give me an example of what you have done to achieve this …
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No Simon success isgetting to the magic numberof 2million dollars of savings by the timewe reach 65.
Success is being able to live in a dignified life style at retiement, we must goback to the basics.
Its not how much we accumulate but how we manage ourselves when we decide to stop work.
Investing is about a game determined to reach our desired outcome,not being kerry packer or Bill Gates but being ourselves from our own humble beginnings.
Who were your parents what did they have and how have you bettered your self andyour family fromyour upbringing,that is what matters.
Success is in your mind not how many properiesyou own, how much better looking you are, how tall you are, wether you are black or white success is achieving what you set out to do.
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Yes i heard this as well and am looking forward to reading her book.
One of the best stratagies you can do in business in Zig when others Zag – sort of like the tall poppy syndrome.
Remember when negative gearing was the rage – then along came positive gearing or positive cash flow, now many accountants are saying that property is less attractive because of the changing tax rates.
So I think Margret is pushing her barrow like any body else does in this country IMHO
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Thanks Simon good response as well, espicially the ice cream link, may be you should do an on line survey and compile some stats – i think that it would be very interesting.
It is said that only 3% of Australians retiring will reach an investment amount of $2,000.000.00 not including the value of their home that they live in.
Is this target one that people here aspire to or is it more, or how many don’t know, and are they just snapping up as many positive deals as possible and hoping it will work out ok
If you are a financial planner with access to the Australian Wealth Standards the future is more than glim for the 95%
Something to think about … D
Mathew only if the male wore a mini skirt ha ha
Sorry Simon i don’t agree with you and you cannot understand how women think or act. I firmly believe that women process information differently – many women are happier with less while men struggle with their ego of out doing each other.
Women want to be free and happy and know when enough is enough, their basis of reasoning is different i believe – go ask your wife if you have one.
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Thanks for the reply
So all you other readers here what are you investing in currently or are you not investing at all ?? with 42000 members surley there are some savey investors other than the “regurlar few” come on don’t be shy …
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1. Instruct your solicitor to get your money back, thats what they are for to protect you.
2. The 5% deposit must remain in a solicitors trust account until settlement, if settlement does not occur you get your money back.
3. You can negotiate with the bank, and any short fall could be covered by the vendors, other wise they will go further into debt and incur more cost.
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Assuming good health i hope they enjoy what they have earned, isn’t that what investiing is all about.
Gen xers and Gen yers need to get a life – all i hear from them is that we have all the money, ah well yes we do now but when we were your age we didn’t.
Its not all a bed of roses and millioneres out there retireing.
73% of all retirees have little super little savings and only their family home to rely on – WHY – the costs of raising children and education!!!
The biggest problem of retiring is maintaining and paying for health care which as every body knows is getting out of reach for most people, even private health care doesn’t cover every thing.
So to the lucky baby boomers who have done well over their working and investing life go spend it and have a bl…y good time because you deserve it – don’t give it to your children or the Gen x&yers because they are smarter than us and i am sure they will get rick quickly anyway.
I’m in a bad mood because a friend of mine has just died from cancer at 37yrs old and she didn’t get the chance to retire …
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