Dazz's Lap Deal
- Thread starter Frank
- Start date
I can understand that. This whole issue of discussing investment and business on a googled public forum is very sticky.
I wonder sometimes if Somersoft needs a password protected private forum area, open only to members whose identity has been confirmed in real life.
This would allow the discussion of commercially sensitive information.
I like your thinking there WW...
would make it easier for many of us to open ourselves up a bit to our friends here for critique and advice/direction without the worry of the whole world being able to see what we are up to.
but then again many of us who would talk like that know each other anyway
interesting...
would make it easier for many of us to open ourselves up a bit to our friends here for critique and advice/direction without the worry of the whole world being able to see what we are up to.
but then again many of us who would talk like that know each other anyway
interesting...
nice idea .
I posted the structure of the deal originally for education purposes. It had a nice facet to the finance side of things, along with some unusual securitisation issues falling out of the vendor finance component. Certainly something that I hadn't been involved with previously.
Many talk and waffle on here about generalities / economy etc...none of that makes you wealthy, but I know, due to feedback from forum members, that people learning to construct property deals always have this massive chasm between the general theory they read in books and seminars, vs the actual nuts and bolts of real life deals....and all of the twists and turns needed to finally get signatures on paper. I believe this is what people want to read about. That chasm usually stops them dead in their tracks and they are left scratching their head saying "but I don't understand exactly how it was done".
Speaking to property authors, they consistently tell me that the real life "case studies" are the sections in their books are the ones that people often refer to. That's why Jan's 101 stories book was so popular. Everyone has grapsed the fundamentals and general stuff.
The numbers and details of the nuts and bolts fill in some of the blanks so people who wish to try can possibly bridge that gap and get their first unusual deal under their belt.
Of course, some twisted individuals on this forum decide to use the practical property and finance info provided, and for their own reasons best known to themselves, decide to throw it all back in my face. No problem.
I like sharing, and it seemed, given the responses and large read count, that people were appreciative of the practical applications explained.....but alas I don't like sharing that much to put up with ridiculous nonsense from some twisted minorities.
So, as with most things in life, the few spoil it for the many.
Many talk and waffle on here about generalities / economy etc...none of that makes you wealthy, but I know, due to feedback from forum members, that people learning to construct property deals always have this massive chasm between the general theory they read in books and seminars, vs the actual nuts and bolts of real life deals....and all of the twists and turns needed to finally get signatures on paper. I believe this is what people want to read about. That chasm usually stops them dead in their tracks and they are left scratching their head saying "but I don't understand exactly how it was done".
Speaking to property authors, they consistently tell me that the real life "case studies" are the sections in their books are the ones that people often refer to. That's why Jan's 101 stories book was so popular. Everyone has grapsed the fundamentals and general stuff.
The numbers and details of the nuts and bolts fill in some of the blanks so people who wish to try can possibly bridge that gap and get their first unusual deal under their belt.
Of course, some twisted individuals on this forum decide to use the practical property and finance info provided, and for their own reasons best known to themselves, decide to throw it all back in my face. No problem.
I like sharing, and it seemed, given the responses and large read count, that people were appreciative of the practical applications explained.....but alas I don't like sharing that much to put up with ridiculous nonsense from some twisted minorities.
So, as with most things in life, the few spoil it for the many.
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God damn - 100% spot on Dazz!
More kudo's to you
More kudo's to you
I don't know which questions you thought were nonsense Dazz, but the more convoluted a deal, the more possible there's non transparent risk. Take sub prime as an extreme example.
Not very nice to write people off for asking you to elaborate your perspective on and cover of additional risk.
Thanks ILP.
No - Giddo, the deal is going ahead and we have made great strides in the last week or so, with many concrete steps put in place. We are probably now 70% of the way to fianlising everything. My older sister and BIL are joining the wife and I on the deal. It's their first comm. deal and are watching and learning in the background how it's put together.
WW - none of the questions or comments generated in the thread were a concern to me. There was some great conversation and probing questions. Nothing in the thread itself was a problem for me.
Once again WW, nothing in the thread that focussed on the property or deal aspects worried me at all. I've never had a problem answering people on a property question. That's not what concerns me.
Your entire assumption tangent is wrong, and had nothing to do with my response.
I'm talking about other matters that have nothing to do with either fact, logic, reason, property or finance.
No - Giddo, the deal is going ahead and we have made great strides in the last week or so, with many concrete steps put in place. We are probably now 70% of the way to fianlising everything. My older sister and BIL are joining the wife and I on the deal. It's their first comm. deal and are watching and learning in the background how it's put together.
WW - none of the questions or comments generated in the thread were a concern to me. There was some great conversation and probing questions. Nothing in the thread itself was a problem for me.
Once again WW, nothing in the thread that focussed on the property or deal aspects worried me at all. I've never had a problem answering people on a property question. That's not what concerns me.
Your entire assumption tangent is wrong, and had nothing to do with my response.
I'm talking about other matters that have nothing to do with either fact, logic, reason, property or finance.
Hi Dazz
Totally agree - may I add my voice to the chorus of people who are extremely grateful for the details you post. It is very helpful info for real life investors - there is no doubt about it.
When someone posts details of their own deals it's not caveat emptor, people shouldn't be trying to shred it to bits. I would think common courtesy would be to restrict questions to aspects of the deal people don't understand, in the hope the OP can clarify and we can all learn.
No problem with people pulling apart caveat emptor postings but a posted deal should be left alone for those of us who want to learn what is going on in an investors head. If people think it's a bad deal / high risk / whatever they should keep it to themselves or start a new thread with a non-specific warning regarding the aspects of the type of property/finance/whatever they don't like - with no direct reference to the deal itself.
If people don't understand how it would feel to have someone tear to bits their own deal on a public forum then they don't understand what it feels like to buy property.
Common courtesy... if only there was a bit more of it around!
Dazz,
I would like to pass on my appreciation for the information that you publish. As someone who is quite a few rungs down the ladder from yourself, I find it hard to fathom some of the deals you have structured, but having some of the blanks filled in by yourself has been a tremendous learning experience. If only to allow me to talk to others in my neck of the woods with some of the concepts you have raised. You have certainly inspired this little black duck with your journey.
When you are back this way, would love to buy you another cider
Cheers,
Horizon
dang - i reckon i would have enjoyed the read. sorry i missed it now.
Dazz, would you be interested, if you have time, to write a blog regarding the deal?
i'm looking at venturing into commercial, and have been for quite some time, but i guess i'm scared off by these "chasms" that are becoming more and more apparent.
Dazz, would you be interested, if you have time, to write a blog regarding the deal?
i'm looking at venturing into commercial, and have been for quite some time, but i guess i'm scared off by these "chasms" that are becoming more and more apparent.
The deal went thru CFP as is, with all conditions as stipulated in our favour.
We have the ability to pull out of the deal at any time, right up to Feb next year without penalty if we so wish.
The ball is in our court and the Vendor has no right of appeal.
This deal is going to drag out a looooong time however, as it gets cheaper and cheaper for us as the time drags. I'll post whether we decide to settle or pull out....although fin. details won't be mentioned anymore.
We have the ability to pull out of the deal at any time, right up to Feb next year without penalty if we so wish.
The ball is in our court and the Vendor has no right of appeal.
This deal is going to drag out a looooong time however, as it gets cheaper and cheaper for us as the time drags. I'll post whether we decide to settle or pull out....although fin. details won't be mentioned anymore.
Thanks Dazz. Looks like you're pretty rutheless in this pond, but I guess that's what you have to be to survive.
Since the deal is already signed off and a tennant lined up for the property, if you don't settle doesn't that effectively hand over to your boss a nice crissy present of a substantially CF+ property. I'd ask for a massive bonus on resignation
Since the deal is already signed off and a tennant lined up for the property, if you don't settle doesn't that effectively hand over to your boss a nice crissy present of a substantially CF+ property. I'd ask for a massive bonus on resignation
Thanks for the explanation, Dazz. I, for one, certainly appreciate the details you've put in your posts about past deals that you've done. And even if I'm not ready to 'dips me toes' in the 'big pond' just yet, I feel I'm building up my knowledge - and gaining much inspiration - from your posts.
Hope that all goes well for you in concluding the deal.
And 'virtual kudos' going your way - have to share the real kudos around a little more, apparently!
Cheers
LynnH
Hope that all goes well for you in concluding the deal.
And 'virtual kudos' going your way - have to share the real kudos around a little more, apparently!
Cheers
LynnH
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