I liked the bit where Navra threatened to sue the poster Bill.L (who seemed to predict what happened as far as I could put together from some other posts.)
Navra Legal Action
- Thread starter Mark C
- Start date
I liked the bit where Navra threatened to sue the poster Bill.L (who seemed to predict what happened as far as I could put together from some other posts.)
I've never been comfortable with the whole LOE thing. I could never get my head around how it was ever going to be sustainable. LOR, on the other hand makes sense.
We're now in the process of selling down some properties to make this a reality if Hubby so chooses. Thing is, now that he's got the choice, he's thinking of staying at work (on the good days) other days he's saying a few more months & he's outta there.
Either way, he's got a choice.Groan! I stopped buying any of those magazines a long time ago. Too much 'success' for me.
Funny, you are actually right, I don't buy any of these magazines, seriously .... smoke and mirror stuff and totally ridiculous.
Someone has a portfolio of $2M with debt of $1.8M, something like this, a success story in the making
So true. I like to read them occasionally but so much bs. A few years ago the investor of the year was a lady who had geared massively in Moranbah and was looking like a genius. Fast forward 2 years and she would be well and truly under water if not babkrupt as rents have also halved.
Yep, lots of pain in mining towns today. Those who jumped in perhaps 5 years ago are still laughing, they got the timing right
Now we are seeing all mining towns across Oz hammerd, prices fallen back, rents fallen back.
I know someone who purchased a property for $1M in Karratha renting for $1500 pw, they have been smashed perhaps 30% falls, perhaps its only worth $650K today?? I don't know but its pretty bad, worse still.......can not sell and still in free fall, that is a sh2t load of money tied up. Apparently mining cycles are something like 20 years
Now we are seeing all mining towns across Oz hammerd, prices fallen back, rents fallen back.
I know someone who purchased a property for $1M in Karratha renting for $1500 pw, they have been smashed perhaps 30% falls, perhaps its only worth $650K today?? I don't know but its pretty bad, worse still.......can not sell and still in free fall, that is a sh2t load of money tied up. Apparently mining cycles are something like 20 years
Yep, lots of pain in mining towns today. Those who jumped in perhaps 5 years ago are still laughing, they got the timing right
Now we are seeing all mining towns across Oz hammerd, prices fallen back, rents fallen back.
I know someone who purchased a property for $1M in Karratha renting for $1500 pw, they have been smashed perhaps 30% falls, perhaps its only worth $650K today?? I don't know but its pretty bad, worse still.......can not sell and still in free fall, that is a sh2t load of money tied up. Apparently mining cycles are something like 20 years
Karratha! Had an enquiry about 9 months ago. Guy wanted to buy as many properties as he could there. All at maximum LVR's..he had projections to buy like 10 of them all at about $1.0 mil each and rents of $1500 / week. He just couldn't see the risk in it at all. Wanted to know why the stupid lenders might be reluctant to lend 95% at $1 mil there as the rents covered the loan repayments . Anyway I certainly didn't assist! Some people seem to have no in built risk radar I guess.
But seriously would any banks finance this??? it was on the radar with banks some 3 years ago??
Hi everyone - discovered this forum as I'm doing a bit of background checking on Steve Navra.
He's now in Melbourne giving property investment "mentoring" and also recommending actual properties under the banner of Conforming Property Australia. It sounds pretty sound, but I'm wondering if anyone has any experience on his ability to pick good-value properties? They are all off-the-plan units and houses with commissions paid by the developer.
Steve Navra claims to make full disclosure of all commissions paid.
Thanks
Jason
He's now in Melbourne giving property investment "mentoring" and also recommending actual properties under the banner of Conforming Property Australia. It sounds pretty sound, but I'm wondering if anyone has any experience on his ability to pick good-value properties? They are all off-the-plan units and houses with commissions paid by the developer.
Steve Navra claims to make full disclosure of all commissions paid.
Thanks
Jason
Welcome to the forum mate. Best wishes.
Read more before committing. Many will say never buy OTP from a developer who pays a spotters fee to a 3rd party for introducing you.
My advice- go on realestate.com.au and do your due diligence. Look for underpriced properties and don't be afraid to make offers. You need to get to the point where you know the market better than the local agents in the suburbs you have selected.
Choose your goals and work backwards.
To me the most ironic point was that it was applied only to shares.
For many, it might present a 'heads up' for residential property.
But I am lazy, let others figure this out.
Peter Spann, or Peter Spamm (I equate both the same)
Macquarie: 7 odd years since the GFC, but lots of heardache from anyone envlolved with Macquarie during this time.
Luckily I avoided BOTH of them.
Whats that term about pigs with lipstick, I would apply it to both Macquarie and Peter Spamm (or Spann, or whatever his latest angle to grab other peoples money, no I haven't been suckered in by his spamm, but I was sencored quite heavily in years gone by to be weary of him, and I was right)
best way to try to get rid of dissent.
its not a democracy.
For some they want your money, they have achieved critical mass, whereby the suckers have donated sufficient funds, that the company in question, can employ lawyers to quench dissent.
From memory, Mr Spamm also gave due consideration to this structure. But since Peter Spann was only good at Spamm, maybe his lawyers knew it wasn't a battle worth fighting, hence he only made personal threats, but never carried it through.
Oh I am sorry Mr Peter Spann (good for a google link here), I am preventing you from polymorphing into another get rich by grabbing other peoples money (yet not mine!!!)
We 're buying an OTP and our daughter is buying another . Neither of these were sold through " Marketers " pitching them to investors and both appeared very good value compared with comparative sales , ie we did our due diligence .
Do your due diligence on the properties and the marketer . Don't rely on someone else to make the decision for you .
Cliff
I'd be dubious of any person or company that lay claim to 'property mentoring' especially if they are selecting & selling properties. That's not to say that there's no reputable companies out there, because there are. I'm just saying that the good ones are few and far between, and that you should be very, very careful about your due diligence.
All you can do is observe and try and see through all the data,then make assumptions about what the real
process might be,and btw I have watched this gentleman speak several years when he did post in this site and there was a Man called "Bill-l" who even with legal threats still posted his opinions,Bill in his own investing representation to reality mindset did suggest the exact opposite at the time,a few in this site went along that investing strategy,what happened next is all within this site for everyone to see,if your still out there Bill stay happy,you taught me more then any other investor I have ever studied..
His "ability" is obviously coloured by the commissions he's receiving for selling them to you. He certainly wouldn't be recommending them otherwise, would he? Third parties (whether or not they be FP's or others) who receive a fee for recommending a particular property are simply selling agents in disguise.
Always seek independent financial advice. On that, did anyone see the episode of the ABC's "Checkout" programme on this? So very very good
http://www.abc.net.au/tv/thecheckout/episodes/s02ep16.htm
His "ability" is obviously coloured by the commissions he's receiving for selling them to you. He certainly wouldn't be recommending them otherwise, would he? Third parties (whether or not they be FP's or others) who receive a fee for recommending a particular property are simply selling agents in disguise.
Always seek independent financial advice. On that, did anyone see the episode of the ABC's "Checkout" programme on this? So very very good
http://www.abc.net.au/tv/thecheckout/episodes/s02ep16.htm
I am sure he would have made full disclosure of the commissions on the timber plantations too. Full disclosure doesn't mean it is a good investment. Payment by commission means unless you sell you don't get paid.
