Peter Spann

Hi Melbear,

Try:
The Little Pot of Gold edited by JetDollars

Cheers,

Jo

Mel,

saw ‘little pot of gold’ a while back at local bookshop..i’ll have a 2nd look for you.

REDWING

“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator

Um yeah so the answer is ?
[cowboy2]
Regards
Expat

Sorry – must have been a SNAFU

My answer goes something like this…

There is no doubt that capital growth will be limited in most areas of Australia in the next few years.

In fact some areas have already gone backwards, but this is just natural correction of the normal over exuberance shown at the end of the property cycle.

Interest rates are likely to be heading up – most annalists I respect are saying a limit of about 10% this time – which is never a healthy market for property.

So, if you need immediate capital growth you are really going to have to look for it.

My view is that I am a long term investor and although capital growth is my game I don’t need it immediately as a justification to buy.

I’m not a cash flow investor (and that comment is likely to get me thrown out of this forum immediately!), and I explain why in my book, so that doesn’t bother me either.

The flip side to all this doom and gloom is that this type of market can offer opportunities to those who are brave of heart, entrepreneurial in their approach, and prepared to sit out the worst of it, if it comes.

And, at the moment you can find quality property at genuine bargain prices – and I can’t remember the last time that happened.

I mean people are actually negotiating with buyers at the moment, not lining them up to pick who to accept an over inflated offer from – who’d of thought???

The vendor of a property I was looking at to buy recently had it on the market for $5 million – I bought it last Thursday for $2.8 million (and still think I could have extracted a bit more if I was prepared to let it go but this was prime, prime land with extraordinary potential and an OK income in the interim so I wasn’t about to let it go).

Deals can be done, and this is exactly the environment where I am at my best.

In the last few years I have been buying no better than anybody else and like everybody else the market has done most of my work for me.

The next few years will, in my opinion, sort the sheep from the goats.

Those of us who have been through a few cycles have been waiting for this moment and are poised to take advantage of it.

I will rejuvenate where necessary and where I believe it will add value but I will not be going overboard.

So my strategy is mostly to property bank over the next few years, just buy as bargains present themselves – be patient, negotiate hard and not overstretch. This way when the market takes off again in a few years I’ll be ready to take advantage of it. I’ll fix my interest rates as I go along and happily look at my growing portfolio.

Thanks mate for the response, see I agree completely in the LONG run you cannot lose but its in the next 5 years is where im concerned one wrong move and… but thanks alot for your response Ill take it underadvisment.

On a lighter note i recently raised your strategy of leap frogging with my grandparents and they laughed and told me they use the same strategy (albeit with using there equity in there own property instead of renovation/equity formula)over 30 years and aquired about 20 houses.

Regards
Expat

Peter is also into shares as well as property, Steve has also mentioned he has used Marketmad…

Individual strategies depend on individual circumstances, i believe it’s like advice..listen to everyone and take whats usefull to you.

If the economic climate changes i.e Interest rates rise etc, well then you have to re-evaluate your strategies slightly. Me i believe in a ‘balanced approach’.(think SiS’s Offset Gearing)

Peter’s not into + geared rural IP’s and Steve has made a fortune from them ??

Conversely Peter believes in – Gearing and Growth, amongst other things, and he’s made a fortune from that ??

[grad]lessons in both

REDWING

“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator

Hey is there a website for Peter Spann where you can purchase his books or materials – thanks

kind regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

Thanks Redwing

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

I agree – the most important thing is to find a strategy that:
1. Works
2. You like
3. You stick to long enough for it to pay its results.

There are many (fun) ways to skin a cat!

Thanks – I know it’s not obvious on the site but we actually do – just scroll right and where it says “Read the Book!” click on the “On Line Shop” text and you’re in.

Thanks for your suggestion.