Forum Replies Created
Hi Mike, I’m back … once again mate great reply.
I want to talk to these people when they are 50 or so. To me their answer will be along the lines of why didn’t I invest when I was younger.
These people like so many generations including BB’s, are simply selfish and blame who ever and what ever for their life style. They simply in MHO just don’t want to save or make an effort to get ahead.
Many friends of mine thought I was stupid spending so much time with investing, these people now are under plenty of pressure believe me, they still have a home mortgage and no investments.
You know why???? because saving and working hard doesn’t look good. (foooooooools)
Just wait Mike I can see you now tearing these people appart he he … Phil
One needs to be cruel to be kind, this is real life stuff if you blow your money its gone forever.
I have been developing for 15 years since I was 25, so yes mates I am hard, for a reason.
Most of you guys on this forum havent been exposed to interest rates over 12%, don’t think it will happen to you??? lets see.
Phil
So why did you buy mate, you don’t make sence to me … buying a property then checking the numbers.
Sorry for being rude but i really don’t think you are for real at all. you architech and accountant could have comfirmed that before you bought.
Give me the address and i will check it out for you oh and the name you bought it in …
Phil
Hi Mike, how was the Whitsundays you lucky dog!!
Love to help,
1. Start small, duplex – triplex – then quad
2. Buy a small acreage (2) then cut it up, now you are a developer.
My second eldest brother was a builder now he ownes 19 motel complexes, all in country towns or city fringe. He got into motels because no one else was in those days.
So do the opposite that others are doing, don’t follow the flock.
You don’t make money, you create it.
The secret of the rich is to provide some thing in demand and make it easy for them to buy.
Commersial in Sydney makes sence to me, but if you buy res.a you must have rocks in your head, my opinion only mate.
We just took an option on a caravan park for 3.9m i bought the block next door (550k) wraped the two together and had a buyer ready for 6.3m.
That deal took under 30 days with costs out inc. tax of 30%. Make profits and move on.Mike, my brother taught me that in his experience you only need good luck and good timing.Opinions are like bottoms we all have one, be patient do your numbers.
Some one is always making money some where, go find where that is, research different markets and become creative.
Can you afford to loose, read Kipling.
My first book will be out in Feb (101 ways) but my third book (201 stratagies and techniques rich people do in realestate has some of the above). I have lots of stories of people winning and loosing the game of life as you do.
Steve and Dave have a formula for success but not every body likes to follow in the same path so don’t feel you r a failure if you only have 1 -2 properties.
Its not the number you end up with that matters its all about the targets you have set for yourself and your family. There are many millioneres in the grave yard, work hard play hard.
If you own your home and one investment property by the time you are 55 you will be in the top 5% weathiest in Australia (isn’t that bloody shameful) work on solutions not problems.
Now is the time to make money!!!! there are some desperate people out there ready for the picking, there are more profits when you buy than when you sell.
Oh heck mate i’m getting carried away, i had better send you one of my books (3) he he. I’ll try and keep up on here but i’m getting bored because i think the direction is changing from the outset.
you’re on track mate and i believe you and a FEW others i have communicated with here will win. Remember that 97% of people on this forum will fail to live a dignified retirement at 65… regards always [email protected]
Sorry 4 the spelling mistakes, but i’m in a rush
Step one: go see a Lawyer.
Step two: ask for a $100,000.00 cash non refundable deposit to be released to you now, if they dont accept you will know if they are full of u know what.
Phil
Take Jennies advise!!!!
My advise is to sit down with a goooooooood lawyer and spend the money NOW its cheaper than down the track, rip up the $100 pre nup kit GO SEE A GOOD LAWYER!!!!!
Phil
Hi Simon good article but!!!
I think she could have bought much better for the same outlay than Jacksons Landing.
This area is suffering badly from the negativity of the casino. Also extreemly high body cor fees etc.
Michael is correct with the 11 sec rule and the estimated growth rate of this area is 4%.
A 2 bed unit in Botanic Cove Hunters Hill is about $650k renting for $550 per/wk with an est growth rate of 9.25% … which one would you choose.
I estimate she will have to top up her investment buy about $15,000.00 per year, i hope her other investments are really positive or she is making bucket loads of money in finance???
go figure!! confused Phil
Mate go talk to four architects then you will start to get the drift of what is involved … make notes ask questions etc.
There are lots of experts out there with no experience, at the end of the day the secret of success and making profits is good luck and good timing, its that simple all the rest is BS
Phil
Ring Jamie at Caprice homes they are building 15 houses for me now in QLD, tell her Phil sent you her info from residential wealth pty ltd, good luck.
Why did you buy a property with out doing the numbers first.
First rule in property developing is to do the numbers.
Second rule is if the numbers dont work dont do the development.
Are you for real?????
No just experience, you just have to through it mate … its called the school of hard knocks … welcome to my world, regards Phil
Oh i just noticed that steves name is high lighted but daves isnt, i wonder why???[buz2]
Personally i’m disappointed with this. This site is going through changes, yes marketing/cash flow etc.
I have enjoyed the discussion posts, I just hope this strategy doesn’t cost negatively in the future for Steve and Dave. Good marketing is about creating desire if you are good at what you do people will buy regardless.
Why do you need to lead people didn’t work for Henry Kaye. Oh well at least the warp kits have come down in price, there you go Steve I just made you some more money, think like an accountant and prosper.[evil5]
Hi Obiwan yes but,
Does the suburb have a wow! factor. There is a huge difference between greenwich and Hunters Hill.Kate Blanchit just paid 10mill in Hunters Hill. ROI on the top end is CG. Potts Point is still going through the roof, because it caters to a certain market.
Where does Lang Walker live and all our other aussie heros etc. Remember that 97% of the wealth is comtrolled by 3% of the population.
Property isn’t abc its much more than that. The secret to building wealth is to own something that is more valuable to some one else, and they are willing to pay dearly for it.
IMHO regards Phil
Hi Ausrop & Obiwan good points,
IMHO due to a recent trip out west last week (sydney) i notice two types of housing. Single storey and two storey, both of which are built on postage stamps.
Our housing is becomming tackey and minumalistic. The houses are so close together that you can hand soap to your neighbours through the bathroom windows.
Many of the house have no eves and the boundry appears to be about 500mm each side.
I think multi storey should be confined to town centres and train station locations with secured multi storey car parking (stratered) nearby.
Generation loans are just around the corner unless gen.y and gen.x don’t change their spending habits, credit cards, leases, store accounts, BB’s have a different attitude to borrowings.
regards Phil
So DEVIL now that you have established that, what are your beliefs on how you are going to create wealth, and what do you think about the gen.x’s.
regards Phil
Obiwan, just two points mate …
1. I think per head of population stats are a joke and should not be used.
2. Don’t blame the BB’s mate because the gen.y’s are blaming the gen.x’s. I work with BB’s and your beliefs about them are not correct. Also BB’s went through 18% rates for 5 years, and that wiped many of them out.
Regads Phil
I think the first 6 months of 05 will see some scary stuff in Sydney.
A mate of mine (valuer) who i’m about to meet for lunch at La Perla in Gladesville (great resturant) also owned by a mate of mine (c u there) has been inundated with mortgagee vals for banks lately.
So yes the s..t is hitting the fan but a long way to go yet. brisbane is a good buy for three year old properties, stay away from new ones and marketing companies (two tiered is thriving in QLD)
Phil
Steph, i’ll send you my twin (9yrs) girls over, do you teach any of these challenging types???
My kids are great but my wifes a mess ha ha
Phil
Is’nt it funny that the people in debt are the biggest wingers[confused2]and the ones trying to get out of the rat race are helping others do the same [rambo2]
Hi Zen,
The younger generation needs to adopt clear stratagies to build wealth. I have a young mate of mine (19yrs old) who I am helping to get started.
We secured a 1 bed room ground floor unit in Parramatta in Sydney (built 1978) walk to every thing, train, shops, bus etc.
He lives at home and contributed $20k plus his dad gave him $15k. This property is neutral geared and he is working hard to reduce debt and increase equity fast.
I won’t go into the remaining stratagy here, but he’s on his way well and truely.
Success stratagy to build wealth fast for young people;
1. do not lease a car on a PAYG income
2. cut up all credit cards except an emergancy card with a small limit.
3. open a seperate bank account and bank money in weekly “savings”
4. work 6 days a week, get a second or third job, it won’t hurt you.
5. stay at home as long as you can.
6. if your partner does’nt agree, get a new partner.
7. live within your means
8. stay away from interest free store accounts.
9. if you can’t pay cash for it you can’t afford it.
10. be nice to people you will meet them again and they will remember you.
Build assets not liabilities … Phil[xmas]
