I would ask him why he is confusing integrity with money, by his reckoning he would work for nothing, secondly I would explain that the additional profit you make was due to a cosmetic renovation and property improvement.

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There are bargins in every area but you must become an expert on the DEMAND in that area, many people make stupid mistakes because they believe that all markets in the same product (property) are the same, and they are not … do your home work and trust the stats.

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The underlying factor is that demand in certain markets is outstripping supply, take a look at Queensland and in particular the experts predictions on the growth this year alone of the market between Brisbane and the Gold Coast (Coomera 25%+).
An expert seeks out denand hot spots, like the stock market some sectors fall while others boom, isn’t that what investing is all about … look for the boom and don’t get caught up in the gloom.
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Going back to Steves origional question I think that proper and thorough due diligence will aid the sophisticated investor.
The gloom merchants who have their blinkers on do not see the savy investor making a motsa in another area.

Remember in gloom the RICH boom … regards Phil

Check out whats happening at MIDGE POINT and Laguna Quays Resort 69km north of Mackay and 15km south of Proserpine.

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If the numbers dont work dont rework the numbers, investing is not a race, did your father tell you the storey of the old bull and the young bull talking at the top of the mountain looking at the heard???

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I have tapped into the I.T industry who have incomes in excess of $100,000.00 these people want LIFESTYLE at an affordable price and this area is the answer. If a market is dull in one area it is booming in another, you just need to know where to look, cheap is not always best, there are millions of dollars trading hands every day take the blinkers off. regards Phil

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I’m not only going to help my twin girls out I am going to teach them how to multiply it, its not only giving that is precious its that the teaching we give we last long after we die.

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1965 – Credit squeeze
1972 – High unemployment
1981 – Mini correction
1990 – Gulf War – 18% interest rates – Pilot strike – the recession we had to have ( Keating) – building industry crash.
1990 – 1994 dead market
1994 – 1998 prices doubled
1998 – 2000 quiet market prediction of gloom
2000 – 2003 lower interest rates houses boomed again

2004 – my prediction is well located property (investments) can’t go broke.

Regards Philip

Have you done the numbers on a cosmetic renovation to say a second hand well located two bedroom unit close to excellent ammenities.

I enclude a furniture package(tax deductable) as a give away incentive to a tennant if they sign a two year rental guarantee.

regards Phil