Im interested to get peoples comments on this book by the veteran investor.
Hi
I hadn’t heard of Olly before, so did a google search and found this review:
http://www.landlords.co.nz/article1127.htmlIt sounds like an interesting book by an experienced NZ property investor.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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The book came out 8 months ago, and said that the OZ/NZ property markets were due for a crash.
This guy has been through several cycles and has built a multi million $$ property emprire and recommends to sell now.
Comments welcome please.
Hi!
I read it a couple of months ago and can barely remember a thing about it, other than I disagreed with just about everything he said
I think Olly is an advocate of “Timing the market” rather than “Time in the market”.
Sorry I can’t offer a more helpful review.
-Ian
I haven’t read Olly’s latest book “The Day the Bubble Bursts” but have read a previous book of his called “Lost Property”
It gave some very good examples of how people lost money on property through panic, over extending themselves, greed and bad judgement.
Olly himself lost a lot of his wealth after the 1987 sharemarket crash but has since re-established himself.
As with any of these books and advice you have to learn to understand the pros and cons of property investment rather than take someone’s word as gospel. Olly Newland may offer some good advice but he has already proven he can be wrong.
Cheers
JeffOriginally posted by Ibuycashflow:Olly Newland may offer some good advice but he has already proven he can be wrong.
Would Newland not argue that he has learnt from his past mistakes? Surely that can only add more credence to his advice.
Originally posted by OSienna:Would Newland not argue that he has learnt from his past mistakes? Surely that can only add more credence to his advice.
I’ll reiterate the first half of the paragraph
As with any of these books and advice you have to learn to understand the pros and cons of property investment rather than take someone’s word as gospel.I will now wait until Rodney Adler writes a book on how to run an insurance company before I comment on that one.
Cheers
JeffOriginally posted by Ibuycashflow:
I will now wait until Rodney Adler writes a book on how to run an insurance company before I comment on that one.You know, if he ever did write a book I wouldn’t write him off immediately. I’d be looking forward to a chapter titled “How to Not to Get Busted While Swindling an Insurance Company”.
Ibuycashflow, if that’s your criteria for judging an author then you’d probably not recommend any of Robert Kiyosaki’s material either. He was once a homeless bum and a bankrupt back in the 80’s. Try expressing the same sentiments towards Kiyosaki, but be prepared to for the wrath of his many supporters.
Originally posted by OSienna:Ibuycashflow, if that’s your criteria for judging an author then you’d probably not recommend any of Robert Kiyosaki’s material either. He was once a homeless bum and a bankrupt back in the 80’s. Try expressing the same sentiments towards Kiyosaki, but be prepared to for the wrath of his many supporters.
You really are missing the point. Learn and understand but don’t jump if you don’t know why.
Hindsight is one thing, foresight is another.Happy reading
Jeff
Originally posted by Ibuycashflow:You really are missing the point.
I don’t think you were making much of a point in the first place. The original post was asking for comments on Newland’s new book, “The Day The Bubble Bursts”. You responded by making a broad generalisation based on his previous book. How can you fairly judge something you have not read?
Originally posted by OSienna:I don’t think you were making much of a point in the first place.
Firstly if you cannot understand my point then there is not much more I can say.
The original post was asking for comments on Newland’s new book, “The Day The Bubble Bursts”. You responded by making a broad generalisation based on his previous book. How can you fairly judge something you have not read?Secondly, I didn’t judge the book “The Day the Bubble Bursts” but I have good reason not to agree with everything Olly Newland says (this however I will not share with you)
Thirdly, I have not read one response from you regarding the Olly’s “not so new” book “The Day the Bubble Bursts”, only criticism of my post. Have you read the book? Do you have an opinion on the book? Do you have something constructive to offer?
It appears I have offended you by not idolising and agreeing with anyone who writes such books, and for that I am sorry, but I am entitled to my opinion.
I also apologise Dave7 for this getting completely off the track. I will refrain from replying further and will continue with my latest read, “Rogue Trader” by Nick Leeson
Cheers
JeffThirdly, I have not read one response from you regarding the Olly’s “not so new” book “The Day the Bubble Bursts”, only criticism of my post.Settle down there, Jeff. You seem awfully sensitive about my criticism towards your unabashed dislike of this particular author. I merely made the simple point that you shouldn’t dismiss a book altogether because:
a) You didn’t agree with what the author published in a previous book
b) The author, by your mere assertion “has already proven he can be wrong”. You did not bother to elaborate why.
c) You haven’t even read the book!!
Have you read the book? Do you have an opinion on the book? Do you have something constructive to offer?You are most certainly correct, I have not read the book, nor have I passed judgement or offered an opinion. By not having read the book I am not in a position to provide a constructive and credible critique as such. And the same would go for you too, I might add.
It appears I have offended you by not idolising and agreeing with anyone who writes such books, and for that I am sorry, but I am entitled to my opinion.No, you haven’t offended me in any way. I just took exception to your unqualified statements about a book you have not even laid eyes on. I would not give a toss whether you idolised the author or not. Heck, if it was not for Dave7’s original post I would not have even known about the guy.
So the next time you offer an opinion about a book you have not read be prepared to back up your commentary with plausible arguments rather than just mere conjecture.
OSienna, Its you who should settle down.
Unlike yourself, I can see Jeff’s point clearly, and can appreciate his contribution.
What have you done in this post to contribute, other than to dispute another persons opinion ?
You seem to think that Jeff has no right to post an opinion about a particular author, despite the fact that he has read a previous book of his. How could you not see the relevence in Jeff’s opinion ?Dave7 has started a good post, and brought to my attention, an author I had not heard of before. Jeff has given a valuable opionion about this same authors previous work, which is clearly relevent, and has no doubt proved helpful to myself, Dave7, and others in this forum. All you have done is dispute anothers opinion, despite not having read any book by the author.
It’s forumites such as yourself, who not only contribute nothing in these forums, but also happen to take something away from others who do have something to give, by way of advice or opinion.
Some people just dont get it.[angry2]
Anyway, I’ve read the book. Some interesting ideas (such as buying physical gold as a hedge) though a bit too scare-mongering at times (e.g. a government can cancel its currency at any time: theoretically true, but unlikely to happen in any of the big Western countries).
Also lacks some follow through. He talks about buying some unit in Bondi for less than $100k and another unit was put up in front of it, blocking the view. However, even two blocks from the beach in Bondi these days would be worth a lot of money!
Some interesting anecdotes on how he financed a commercial building by negotiating for increased rent before settlement, etc.
All in all, a decent book with some good ideas. A bit too wafflely and selective at times and doesn’t give as much solid advice as I would like. But then you don’t expect to learn everything in a $20 book!
You have to look at him as a reverse role model as well: he says things like living high with boats and Rolls Royces, etc and I thought “ok, so I should be more conservative than that.”
AlexYes, I’ve read the book too, and Ollie’s other ones ie “Lost Property”, and “The Rascal’s Guide to Real Estate”.
The Day the Bubble Burst is a follow on from “The Rascal’s Guide…”.
Both could be described as: Humorous, with a few gems, but rather lacking in substance. Ollie is own biggest fan, and it shows.
Julian2
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