Alternative view to Neil Jenman

From: GoAnna !


There has been quite a bit of discussion of Neil Jenman's "Real Estate Mistakes". I bumped into this and thought it might offer some balance. I don't agree with all that is said however there are a number of valid points. This is not "The way" just another way.


http://www.peterbarnes.com.au/fataltraps.html


GoAnna !
"Obstacles are those frightful things you see when you take your eyes off your goal."
-Henry Ford
 
Last edited by a moderator:
Reply: 1
From: See Change


Nice link Goanna

I'm not sure how long he's been doing it , but over the two weeks I've heard "our independent real estate advisor " , Neil Jenman being interviewed on ABC radio early on wed ? tues morning. The Fact that he's written "real estate mistakes" is publisised , but that he also is promoting an alternative to the methods he knocks is not.

see change

it's better to be guided by your dreams than your fears
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2
From: Simon St John


Hi GoAnna

Thanks for this link - I got a few good points from it.

Cheers, Simon
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2.1
From: Adam McGuinness


According to Mr Jenman, it is a big no no to use equity in your home to secure IP's.

If this rule were adhered to here, how many of you would in fact be here?

Adam
 
Last edited by a moderator:
Reply: 2.1.1
From: Paul Zagoridis


I'd still be here! I'm a lousy home investor but a good IP investor. I choose my homes for emotional not economic reasons. This is counter to how most people invest.

I think Jenman's saying there are people mortgaged to the hilt for negative geared IP's using home equity. When they come unstuck they'll lose their homes (through foreclosure or "voluntary" sale to clear debt).

In 1987 many people mortgaged their homes for stock market plays. October 87 came around and wiped a lot of value out. Leverage is a two edged sword. Funny how many people did similar things in the dot.crash

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2.1.1.1
From: Empy 555


Jenman is a publicity freak ! who gets called up at the drop of the hat on any real estate issue irrespective of his bias views and lack of experience and true knowledge.

His methods of sale worked fine in one area of Sydney.....Auburn

Try using "no sale no charge" no advertising techniques in most of Sydney suburbs....also try pricing homes for sale over the last two years using the Jenman techniques.....and see how much you would have undersold properly for.

Jenman is far from an expert on residential sales....that's why so few agents would ever embrace his ideas.

he is even further from an expert in the IP game !!!

as most of you have noted !!

Jenman is a small time operator with a mighty big mouth and a heap of controversy !!

dont sign anything !!!.............PLEASE

The link provided....is a good one and offers a much more "realistic" approach to real estate sales.

LOL

empy
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2.1.1.2
From: Adam McGuinness


Paul, are you suggesting that the IP game is as volatile as 87 or .com?

Adam
 
Last edited by a moderator:
Reply: 2.1.1.2.1
From: Paul Zagoridis


No I don't this IP is as volatile as any stock market bubble (although 1991 in 2011 post code was fun!)

Rather in every bull market there are people who take on debt because they get euphoric. They don't believe markets can change. The more people who believe this the close we are to a change.

There will be people forced to sell their homes because their debt load is unsustainable in a flat market. Investors accept negative cash flow because they expect capital gains to exceed their holding costs. Capital growth vanishes on the other side of the property cycle.

Unfortunately we can't tell where in the cycle we are. So I'm not telling people not to invest in Sydney or Melbourne or wherever. Just make sure you can afford the investment.

Negative gearing is a bit like heroin. As long as it's under control, you're generally ok. When it gets out of control it ruins your life. But you never know which deal is the one you shouldn't touch until it's too late.

Paul Zag
Metaphor mangler
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
Last edited by a moderator:
Reply: 2.1.1.2.1.1
From: Dale Gatherum-Goss


Hi Paul!

You wrote: "Negative gearing is a bit like heroin. As long as it's under control, you're generally ok. When it gets out of control it ruins your life. But you never know which deal is the one you shouldn't touch until it's too late."

I hate to think how you know this, but, I love the analogy.

Have fun

Dale
 
Last edited by a moderator:
Reply: 2.1.1.2.1.1.1
From: Paul Zagoridis


Hi Dale

I've run a halfway house in a previous life.

Ended up renting one of my early IP's to the organisation that provided housing.

Plus my mum is finishing her doctorate on addiction.

Also when I left Uni, I figured I could fight up the corporate ladder or get more experience in senior roles in non-profits. I got a lot of experience in a little time (and realised welfare sector is not my calling).

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
Last edited by a moderator:
Reply: 2.1.1.2.1.1.1.1
From: Dale Gatherum-Goss


HI Paul!

Thanks for that. It's a likely story, but, I believe you even if 1000's wont!!!

Have fun, I'm only playing.

Dale
 
Last edited by a moderator:
Reply: 2.1.1.2.1.1.1.2
From: Robert Forward


Um Paul

You forgot to mention that the Post Code 2011 is the Kings Cross post code. Isn't this how you know about the heroin too??

Cheers
Robert

Property Inspection Reports @
http://www.creativefinance.com.au

The Sydney "Freestylers" Group Leader.
 
Last edited by a moderator:
Reply: 2.1.1.2.1.1.1.2.1
From: Paul Zagoridis


Busted! Yes 2011 is Kings Cross (and Potts Point, Elizabeth Bay, Rushcutters Bay, Garden Island, Woolloomooloo, and HMAS Kutabul).

;-)

Dale, we've had a beer together so I knew you were joking.

Who cares how people think I know about addiction? Adds to my mystery.

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
Last edited by a moderator:
Reply: 2.1.1.2.1.1.1.2.1.1
From: Asy .


It's true,

Dale, sorry to say, Paul has an IP addiction...

We all have it...

TW has formed a support group, and yet we continue to be addicted...

Unfortunately, Nella also has it, so it's terminal (To his J-O-B, with any luck!)

I have it too... I believe it to be contagious, there are a few with natural antibodies but they are all named Eric Snow...

Innoculations are being trialled by the ATO...

asy.


"Don't forget what happened to the guy who suddenly got everything he ever wanted...
He lived happily ever after.
(Willy Wonka).
 
Last edited by a moderator:
Top