Engelo,
I have to agree that the situation is getting worse, I don’t think the rents are going to go up soon, but I think some people have been a bit aggressive with you.
On the other hand you are young, so you can take higher risk than many people and this is what some people have to realise. Investing in property in this world environment is very risky as they are many other types of investments, so you just listen to everyone and try to work out how much risk you want to take. When you do your maths for any investment, try to get the worse case and put some negative factor as well because you will always find some additional expenses.
Don’t stop investing, try to diversify and move forward, listen to everyone, even the negative comments as sometimes being too positive is not good either.
The world economy is a big mess, but no one knows what is going to happen, as now USA is not anymore the biggest economy and the asian countries (like China and India) are big economies and very unpredictable. I sick of listen to economist all around the world with different ideas and the reality is that they do not know what is going to happen; it is not a science, so they base all the predictions on theories that may not work in this modern era.
We can stop everything and wait until the world economy gets fixed, I live in a country with 1000% inflation, prices were changing from the morning to the evening, and still alive
)Hi johan22,
I havent been living at home for the past 6 years. My fiance and I are very fortunate to almost have our PPOR payed out entirely. I will definetly have a close eye on the future happenings in the property market. Thanks for your comment.
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
engelo, do you think property prices will be going up in the next 2 years?
I'm sorry .. I missed most of the fun of this thread .. simply because I have a life. But it sounds like pure comedy.
I would take Jumping Jack Flash with a grain of salt. In fact .. pass him the whole bloody salt container. He's going to be sitting there .. grumbling about the state of the world until the cows come home. And for him .. he may just be sitting in a small tent .. in a large empty paddock.
I was upset about not living up to MY standard .. and not living up to options for a couple of years. And then it was pointed out to me that most of the people who had built fortunes around me in my neighbourhood were RUSSIANS. Yes thats right .. people who came to this country post 1990 with next to nothing or even less. And now they lived in million plus houses. In the same ten years i was complaining about things. Thats gotta show you the money development is still there.
The point is this. Nathan will make money. He knows what to look for and how to go about it. And i'm surprised if he hasnt had his set of 'diggers' behind him just wanting to put him down to size. I had that. And I pushed them aside and got on with business. To the point now where business largely gets on with itself.
Engelo10 .. if you are finding the positively geared properties and the options to start you on your journey .. go for it. You'll find half a dozen Jumping Jack Flashes along the way. Ignore them .. listen to what the market is saying and a little dose of reality. And in no time at all you should be realising your dreams in full living color.
By the way .. if you are sitting on a nearly fully paid off PPOR .. take it to the banks and get your equity moving ! Be there with cash when the prices start dropping, because at that time there is no better way to negotiate.
Mosqui and xdrew thankyou for the 2 best comments so far.
@ Paullie, I wish I knew. I predict the market will be steady or slightly down in the next few years. I try to focus on the numbers in each individual deal and not were the market will be. Any capital growth is always a bonus. Even if the rents stay the same or go slightly down I am still comfortable holding the properties I own. I always crunch the numbers on worst case scenarios.
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
ok, id like to be able to find CF+ properties in the areas Im favouring, but no cigar.
Although Im not really looking for that per say, Im after something I can add some value to, whether by development, renovation, whatever.
Just keep networking with agents and other investors. I spend a good 5 hours a day on re.com.au and domain.com.au looking for a good deal. Keep pumpin mate an im sure you will find what ur after.
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Geeze Engelo – a thread titled "do not read" is up to 700+ views.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
hahahaha I know, I once had my car for sale and couldnt sell it for weeks so I decided to change the title to DONT BUY THIS CAR. The add got 100 hits in 2 days and sold the car 5 days after new title was up. Its a bit of reverse psychology thats gets people sucked in I guess hahahahaha
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Well Engelo, you asked for opinions and you got them!
Well done I say. Good luck to you.
There is no one size fits all – its what is right for YOU.5 hours a day
I take a day off here an there but try to occupy myself with property in some way atleast 5 hours a day. Be that searching for deals, speaking with mortgage broker or accountant, calling agents, going to seminars, online forum, API mag, books etc…
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
If some one wants to make money then they will. More wealther people are made when times get though.
Why? Average person will complain life is to hard, omg the bills, my cat needs this. All they do is <moderator: delete language> doom and gloom and scared to take a risk.
Donald trump has failed so many times yet he is very wealthy, rich dad poor dad author same thing, james packer looses money in One tell moves on and know owns casinos in Hong Kong.
There are people who always make excuses and blame the world but never blame them selves
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
johann22 wrote:If some one wants to make money then they will. More wealther people are made when times get though.
Why? Average person will complain life is to hard, omg the bills, my cat needs this. All they do is buy shit and doom and gloom and scared to take a risk.
Donald trump has failed so many times yet he is very wealthy, rich dad poor dad author same thing, james packer looses money in One tell moves on and know owns casinos in Hong Kong.
There are people who always make excuses and blame the world but never blame them selves
Trump inherited the family fortune and business taking some of its projects to near bankruptcy several times. He’s never really shown any business acumen and scraped through several commercial collapses by the skin of his teeth. He tends to go too big too hard too fast for the market and has an uncanny knack of positioning himself badly when a recession strikes. Nearly all of his personal wealth revolves are the value of his name. He’s never been personally bankrupt but he’s come close once.
http://en.wikipedia.org/wiki/Donald_Trump
Rich Dad Poor Dad guru Robert T. Kiyosaki is a fraud who’s never made an honest buck in his life
http://www.johntreed.com/Kiyosaki.html
James Packer inherited the family fortune and his since managed to whittle it down from and estimated $7.25B (2007) to just under$3B in 2009. He’s since clawed back to $4.16B He has about as much business nous as my dog.
I know you mean well johann but be careful who you promote as role models.
Hi Jack Flash,
Because some one gives you 100million dollars does not mean you dont deserve credit.
If you give some one 1 million they can go bankrupt and you can give 1 million to another and they might turn into 10 million.
Its how people manage a sisuation not how they got there money.http://www.johntreed.com/Kiyosaki.html – Had a look at this: Mate his just giving an opion. Becasue some one says they have a million dollars it does not mean they need to show the world to prove it.
And so what if he has only made 9 millon from his book not 50million? Not bad for just a sales manJpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Whatever Trump et al are doing, they certainly have buckloads more money than the rest of us, JackFlash….
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I must admit though i have asked my finance some questions that john treed has though lol
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
johann22 wrote:Its how people manage a sisuation not how they got there money.Trump never managed things very well as is evident from his many run ins with the bankruptcy courts. He was invariably saved by advisers and his large stake in each game. He lost much of his share in projects as forfeiture to stave off bankruptcy.
Packer also is a hopeless manager. Anyone who takes a considerable fortune and literally halves it in a few years is not someone anyone should follow as any sort of example whatsoever. He’s not a patch on his old man.
Neither would have ever have amounted to anything if they’d had to make their fortunes from scratch like their parents.
johann22 wrote:And so what if he has only made 9 millon from his book not 50million? Not bad for just a sales manHe’s actually a fraudster. Most fraudsters are good salesmen. Prerequisite to be a successful fraudster I guess. Fraud is one of the more insidious of crimes in my book simply because of the sheer numbers of lives it can destroy.
Jack Flash you're like an unrelenting pitbull. Love your work.
Engelo, just make sure your PYA strategy is in place
Ian
http://theblockblog.com
Free Property Investment Info. Tools & Resources for Investors with a Sense of Humour.Life's Too Important To Be Treated Seriously!
JackFlash wrote:Anyone who takes a considerable fortune and literally halves it in a few years is not someone anyone should follow as any sort of example whatsoever.In reading this thread (about 3 x glasses of 'Red Truck Shiraz' worth) the above comment got me thinking about a guy I used to work for many years ago that we made a joke about that brings a smile to my face everytime….. We'll call him 'FRANK' for the purpose of the joke….
" How to you make Frank into a successful small business person?"
" Give him a large business and let him take over…….."
Interesting info on Kiyosaki too on the website mentioned above…..I've always thought his stuff is full of shallow non specific's……….you read it for some pointers, find nothing other than some semi-sage anecdotes, and end up suicidal!…….. you would learn more from looking at some of the guys/girls here with a large property portfolio, and reading a copy of API in my humble opinion……
Enjoy your entrepreneurial spirit too Engelo……sounds like you're positioning yourself well.
Cheers
)
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