International Chinese investor bought his 150th property today.

[mja]

How does the local real estate agent know that this is his 150th property? Because the investor "told him"?

It might be an investor who has a big mouth and "only" has, say, 5 properties - ie, trying to talk up the agent that he/she is a very sophisticated investor.

I agree with Marc - urban myth.

 

[craigb]

i tend to believe its also crap, it takes alot of time to purchase 150 homes, would the others be made to sell their other investments , or do you think it will be one of those , OK you have them now, but no more things..

 

[BV]

How does the local real estate agent know that this is his 150th property? Because the investor "told him"?.

Mja

The investor doesn't even need to be here, his buyer's agent would be doing all the work.
I wouldn't be surprised if it's a group of asian buyer's agents targeting rich people back in their homeland and helping them with their investments or with money laundering.

Last year I spoke to a couple who were hoping to sell their home for x $ but then this asian lady came along who was only selling to rich o/s investors and told them she could get them a lot more.
Guess what? She did.

 

[BV]

There is also a lot of money floating around from Chinese online businesses which needs to go somewhere.

For example, a rich chinese businessman establishes an online business in Aust.
He sells toys or electronic goods which he's buying in China using yuan.
(He purchases the goods with the money he already has in China or he manufactures those goods in his own factory).

He then sells the goods on ebay and a buyer in AUS, US, UK etc pays online and that money is transfered to an Oz bank account.
So essentially the Chinese gentleman is transfering his money overseas.

 

[mja]

Ok, so replace Chinese investor with Buyers agent. Still doesn't change the fact that the selling agent was told by someone that this is supposedly the 150th purchase, which is unsubstantiated.

 

[BV]

this is supposedly the 150th purchase, which is unsubstantiated.

Can't argue with that

 

[Ausprop]

150 * 700k = 105,000,000

105 million dollars worth of ((I'm assuming) separately titled residential) property.

Well that's a lot of egg's in Yuan (I mean one) basket.

yeh laughable huh? some bloke with $105m cant find anything better to do with it than come and adopt a good 150-400 whingeing tenants in some far flung corner of the world which has been identified as one of only 2 bubbles out of 38 that hasn't popped yet. If true, can only say 'a fool and their money'....

 

[Peter Parker]

Mja

The investor doesn't even need to be here, his buyer's agent would be doing all the work.

Maybe the investor is the buyers agent?

Like how spruikers boast about the number of properties they have 'bought', but may forget to mention the number bought for or otherwise offloaded to their clients.

 

[BV]

Maybe the investor is the buyers agent?

Like how spruikers boast about the number of properties they have 'bought', but may forget to mention the number bought for or otherwise offloaded to their clients.

Anything is possible, he could also be a camouflaged Chinese gov official buying properties for Chinese funds in the names of individuals.

China have so much cash they don't know what to do with it.
I wouldn't be surprised if they are buying our land and assets in any way they can.

 

[Melbournian]

How does the local real estate agent know that this is his 150th property? Because the investor "told him"?

It might be an investor who has a big mouth and "only" has, say, 5 properties - ie, trying to talk up the agent that he/she is a very sophisticated investor.

I agree with Marc - urban myth.

think so too.... 150 is a lot.
might as well buy a whole apartment tower or something.

 

[craigb]

yes i am sure we would of heard of this , earlier, like when the stamp duty office noticed his name the 100 the time, not only now when it appears 150 times