Ausprop. I fully agree with you. I do not even read into the lengthy article from the heading. What a rubish! I thought now it is the best time to acquire assets because of the money crisis and the rock bottom price.
Bill Zheng newsletter - lack of global credit to cause price crash.
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Ausprop. I fully agree with you. I do not even read into the lengthy article from the heading. What a rubish! I thought now it is the best time to acquire assets because of the money crisis and the rock bottom price.
wow, its so hard to get people to car pool let alone live with each other!
I loved share houses in my early 20s and I expect a lot of other people do as well, but the 'Aussie Dream' of owning your own home wont change easily. Having said that, the demographics of Oz culture are changing and I am seeing more people willing to rent rooms in houses (which is bringing in a greater yield for investors). Which was unheard of a few years back in my area unless it was a boarding house. Bill has struck a cord there, remodelling a house to suit multiple tenants is becoming an attractive proposition in the right areas.
As for the sky falling in, its been talked about from the start of civilisation.
I loved share houses in my early 20s and I expect a lot of other people do as well, but the 'Aussie Dream' of owning your own home wont change easily. Having said that, the demographics of Oz culture are changing and I am seeing more people willing to rent rooms in houses (which is bringing in a greater yield for investors). Which was unheard of a few years back in my area unless it was a boarding house. Bill has struck a cord there, remodelling a house to suit multiple tenants is becoming an attractive proposition in the right areas.
As for the sky falling in, its been talked about from the start of civilisation.
You reckon Bill was reading my posts? I should take my show on the road - make some money from seminars.
As a past proponent of Bill's teachings & also myself having marketing/copywriting background, this latest email in question leaves me feeling a bit skeptical.
On one hand his email talks of doom & gloom times ahead so as to strike fear then on the other he mentions he has good news but doesn't elaborate further as to what it is.
My skepticism points to a very cleverly written marketing email sent out purely designed to strike fear / panic into the readers mind in order to motivate them into attending his November seminar so as to hear Bill's good news teachings.
With this in mind, & him being in the mortgage financing & broking business that Im sure is feeling the effects of the current global doom & gloom, I cant help but think Bill's good news will be along the lines of recommending a portfolio valuation and topping up LOC's and/or offset accounts to ride his suggested storm out over the next few years.
I guess time will tell by revealing the outcome his seminar.
Just my take - open to other peoples comments.
On one hand his email talks of doom & gloom times ahead so as to strike fear then on the other he mentions he has good news but doesn't elaborate further as to what it is.
My skepticism points to a very cleverly written marketing email sent out purely designed to strike fear / panic into the readers mind in order to motivate them into attending his November seminar so as to hear Bill's good news teachings.
With this in mind, & him being in the mortgage financing & broking business that Im sure is feeling the effects of the current global doom & gloom, I cant help but think Bill's good news will be along the lines of recommending a portfolio valuation and topping up LOC's and/or offset accounts to ride his suggested storm out over the next few years.
I guess time will tell by revealing the outcome his seminar.
Just my take - open to other peoples comments.
Touche' Andrew post number 12356476436483276408733
on the soft depression.Reasonable people go along in life and don't rock the boat. Unreasonable people refuse to accept the prevailing truths. Therefore all change is dependent on unreasonable people
If there is a melt-down, then a proper investor will make money out of it, like they have done so in the boom.
I look forward to your melt down, as Im prepared and plan to make plenty of $$$ out of it.
I continue to see posts like the above from joe; comments about how they are going to clean up. Hello ? is anyone home? The lights are on but that is all.
We are presently experiencing the worst global financial tragedy since 1929 but thats ok we are smarter than the rest of the world
I'd love to know where your going to get the funds to as you say.... clean up. It just might surprise you to know that the liquidity crisis is already upon us and mate the music has stopped and I hope you have a chair.
On Thursday GE Money and friday GM finance announced they were pulling out of Australia. Next in the line is the remenants of the gang of 5 Wall Street investment Banks that will be downsizing what is left of their tattered portfolio's.
Australia sources 60% of it investment funds for property from overseas. If you search back through my posts over the past year I have said the soft depression is all about an inability to obtain financing.
The continuing nonsense about a recession just does not add up. Common sense just isn't common.
What you are witnessing now and over the next ten years will be a story that you will tell your grandchildren how you lived through the soft depression.
For years I have lurked and enjoyed this site and it was only the last 18 months that I started to contribute. It was a great site to learn about the various ways to enrich yourself through property investing.
Like everything in life things constantly change. In the next two to three years we will see a drop off in the number of contributors to this site as the fiscal tragedy takes hold.
There is no country in the world that the financial firestorm will not touch.
Touche' Andrew post number 12356476436483276408733
Reasonable people go along in life and don't rock the boat. Unreasonable people refuse to accept the prevailing truths. Therefore all change is dependent on unreasonable people
If there is a melt-down, then a proper investor will make money out of it, like they have done so in the boom.
I look forward to your melt down, as Im prepared and plan to make plenty of $$$ out of it.
I continue to see posts like the above from joe; comments about how they are going to clean up. Hello ? is anyone home? The lights are on but that is all.
We are presently experiencing the worst global financial tragedy since 1929 but thats ok we are smarter than the rest of the world
I'd love to know where your going to get the funds to as you say.... clean up. It just might surprise you to know that the liquidity crisis is already upon us and mate the music has stopped and I hope you have a chair.
On Thursday GE Money and friday GM finance announced they were pulling out of Australia. Next in the line is the remenants of the gang of 5 Wall Street investment Banks that will be downsizing what is left of their tattered portfolio's.
Australia sources 60% of it investment funds for property from overseas. If you search back through my posts over the past year I have said the soft depression is all about an inability to obtain financing.
The continuing nonsense about a recession just does not add up. Common sense just isn't common.
What you are witnessing now and over the next ten years will be a story that you will tell your grandchildren how you lived through the soft depression.
For years I have lurked and enjoyed this site and it was only the last 18 months that I started to contribute. It was a great site to learn about the various ways to enrich yourself through property investing.
Like everything in life things constantly change. In the next two to three years we will see a drop off in the number of contributors to this site as the fiscal tragedy takes hold.
There is no country in the world that the financial firestorm will not touch.
Are you done already, have you had fun ??? good. So, hasnt anyone made money in a recession or depression before ??? I think they have, and they will do it again.
You see problems, I see opportunities. If I fail, well I'll let that be a lesson in life and try again. What are you going to do ??
Touche' Andrew post number 12356476436483276408733
Reasonable people go along in life and don't rock the boat. Unreasonable people refuse to accept the prevailing truths. Therefore all change is dependent on unreasonable people
If there is a melt-down, then a proper investor will make money out of it, like they have done so in the boom.
I look forward to your melt down, as Im prepared and plan to make plenty of $$$ out of it.
I continue to see posts like the above from joe; comments about how they are going to clean up. Hello ? is anyone home? The lights are on but that is all.
We are presently experiencing the worst global financial tragedy since 1929 but thats ok we are smarter than the rest of the world
I'd love to know where your going to get the funds to as you say.... clean up. It just might surprise you to know that the liquidity crisis is already upon us and mate the music has stopped and I hope you have a chair.
On Thursday GE Money and friday GM finance announced they were pulling out of Australia. Next in the line is the remenants of the gang of 5 Wall Street investment Banks that will be downsizing what is left of their tattered portfolio's.
Australia sources 60% of it investment funds for property from overseas. If you search back through my posts over the past year I have said the soft depression is all about an inability to obtain financing.
The continuing nonsense about a recession just does not add up. Common sense just isn't common.
What you are witnessing now and over the next ten years will be a story that you will tell your grandchildren how you lived through the soft depression.
For years I have lurked and enjoyed this site and it was only the last 18 months that I started to contribute. It was a great site to learn about the various ways to enrich yourself through property investing.
Like everything in life things constantly change. In the next two to three years we will see a drop off in the number of contributors to this site as the fiscal tragedy takes hold.
There is no country in the world that the financial firestorm will not touch.
ok, youve managed to get your point across.........AGAIN
FYI, i have never used the term "clean up", and i have made no mention of my intention to purchase or not to purchase in the future. Im not quite sure where that came from. Anyway, thats besides the point.
Fair enough, you are entitled to you opinion, but from my perspective it seems as though you are wearing your proclamations like a badge of honour, and feel the need to slip the term 'soft depression' into any post you make.
Ask 10 economists and get 10 different responses. I think your theory is way past being pessimistic and erring on hysterical. You should be writting for our newspapers alongside mr keen.
To be honest, i havent followed your posts as i dont buy into the hysteria perpeuated by yourself and the mass media. Having said this though, i do believe times will be tough. Tough to the point of a depression or 'soft depression', i highly doubt this.
Touche' Andrew post number 12356476436483276408733
Reasonable people go along in life and don't rock the boat. Unreasonable people refuse to accept the prevailing truths. Therefore all change is dependent on unreasonable people
If there is a melt-down, then a proper investor will make money out of it, like they have done so in the boom.
I look forward to your melt down, as Im prepared and plan to make plenty of $$$ out of it.
I continue to see posts like the above from joe; comments about how they are going to clean up. Hello ? is anyone home? The lights are on but that is all.
We are presently experiencing the worst global financial tragedy since 1929 but thats ok we are smarter than the rest of the world
I'd love to know where your going to get the funds to as you say.... clean up. It just might surprise you to know that the liquidity crisis is already upon us and mate the music has stopped and I hope you have a chair.
On Thursday GE Money and friday GM finance announced they were pulling out of Australia. Next in the line is the remenants of the gang of 5 Wall Street investment Banks that will be downsizing what is left of their tattered portfolio's.
Australia sources 60% of it investment funds for property from overseas. If you search back through my posts over the past year I have said the soft depression is all about an inability to obtain financing.
The continuing nonsense about a recession just does not add up. Common sense just isn't common.
What you are witnessing now and over the next ten years will be a story that you will tell your grandchildren how you lived through the soft depression.
For years I have lurked and enjoyed this site and it was only the last 18 months that I started to contribute. It was a great site to learn about the various ways to enrich yourself through property investing.
Like everything in life things constantly change. In the next two to three years we will see a drop off in the number of contributors to this site as the fiscal tragedy takes hold.
There is no country in the world that the financial firestorm will not touch.
hello,
the thing though nonrecourse, the Big4 are being swamped with $ from the Shock Exchange,
many are piling the dollars into the banks and guess what the banks are going to do with it?
rosy times ahead with debt getting cheaper and cheaper, wouldnt be good having cash in the bank though with so much of it in the big4 they wont be in a hurry to offer good rates now will they nonrecourse,
keep up the good work professor
thanks
myla
Yes myla there is a lot of money flowing into the big four. The safest is...... you guessed it that bank the commonwealth. All those mum and Dad pass book holders that the other 3 spurned during the 16 year boom are a nice little cushion.
Someone asked where did I get the info on how much of the housing market is dependant on foreign capital.. the same place I learned about Aussie banks exposure to derivatives.... 13 trillion
Its all there in black and white on the reserve bank website. Have a look at their september discussions.As for your comment what are the banks going to do with all that cash.... the same as they did in the early 1980's before deregulation. Some of you were sucking on dummies then and have no experience on how difficult it was to obtain a simple home loan.
All the banks big and small requirred you to have your savings with them for two years in a low interest account. The building societies also requirred a long savings history.
My 28 year old business banker the other day was chatting to me about my mortgages and was making the point that many of the mortgages I now hold will if and when I am refinanced go to a higher commercial rate because they are almost all commercial properties at home loan rates.
I laughed and said oh so we are going back to the early 1980's when banks charged an extra 2% if it was an investment property and 4-6 % extra if it was an industrial or commercial property.
I remember the ups and downs in the 60's, 70's 80's and 90's and there has been nothing like this. To argue that this is just another recession is myopic and more importantly it is delusional.
I am happy to discuss what we should all be doing to protect ourselves. I don't suffer fools easily, thats the nice thing about getting older you cut to the quick.
Some smart #ss made the remark that I am somehow wearing this as a badge. The reality is the wife and I live and breath property investing. We have a deep distrust of financial planners and the razmataz of the carpet baggers called investment advisors, share traders,property sprukers and blue sky nutters who think that owning property exempts you from Newtons third law of thermodynamics ( For every reaction there is an equal and opposite reaction).
Most people come unstuck because although they talk the talk they don't walk the walk. That is why Pareto's principle applies and why 80% of the population rely on the government in old age.
If you hold your investments in your name, you don't use a discrestionary trust that then owns units in a unit trust that holds your long term properties then your a target. We didn't initially either that's part of the learning curve.
The learning curve now is surviving and growing over the next 10 years.
Newton's third law of motion, not thermodynamics - for every action there is an equal and opposite reaction.
GP
Thanks for that
yeah, his law of thermodynamics is for every hottie there is an equal and opposite troll.
NR
Given you are mostly in commercial I would suggest you are operating in a more volatile market sector than resi. Accordingly the hih degree of concern you are currently feeling may be appropriate - if your commercial tenants go under you may well have a problem. The financial sovency of my resi tenants does not keep me awake at night.
Given you are mostly in commercial I would suggest you are operating in a more volatile market sector than resi. Accordingly the hih degree of concern you are currently feeling may be appropriate - if your commercial tenants go under you may well have a problem. The financial sovency of my resi tenants does not keep me awake at night.
In the worst case scenario
Hi boomie; au contrair. If my commercial tenants go under your right I will have a problem. Your analogy about your tenants is incorrect cause they won't have a job and you will have more of a problem chucking them out on the street than I will with the commercial lot
Hi boomie; au contrair. If my commercial tenants go under your right I will have a problem. Your analogy about your tenants is incorrect cause they won't have a job and you will have more of a problem chucking them out on the street than I will with the commercial lot
Hi boomie; au contrair. If my commercial tenants go under your right I will have a problem. Your analogy about your tenants is incorrect cause they won't have a job and you will have more of a problem chucking them out on the street than I will with the commercial lot
I can survive indefinitely with zero rent coming in so long as I dont lose my job. And I just got offered a job in Oman (which I will decline) so things are still ok.
I am not a property investor, but am simply trying to learn as much about property as i can before i commit to a huge purchase, but i think that--if i were a property investor--the above statement would be hitting home very hard.
anyone can make money in a rising tide, it is when the tide goes out--as buffett says--that you find out who isn't wearing any clothes. it is gratifying to think that one has made piles o money based solely on one's own merits, courage, intiative and that may well be the truth. however keeping that money might require different skills--caution, foresight, risk management.
my 2.5 cents.
Buffet is buying now
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