Lemmings

From: Felicity W.


I can't believe how many people I've met lately who've been talking about investment property... reminds me of people talking about shares pre the tech crash last year...
I for one am getting tired of watching some of these people jumping like lemmings based on the most ridiculous garbage they've been told. If a course costs a heap, it must be the best to do.... negative gearing is the only way.... etc etc etc
Even people who know I've got IP don't come and ask me questions, why is that???
Sorry, I've had a very frustrating day talking to people about IP, it scares me sometimes what people will spend enormous money on with minimal information.
Perhaps IP won't have the equivalent of a stockmarket crash, but I wonder what the outcome of all this frenzied spending on IP for the wrong reasons in the wrong areas will be...
Perhaps I just need a good night's sleep!!!
Or perhaps I should just sit back and let the lemmings jump, then be there to pick up the pieces and make a fortune from the remains.
Keep smiling
Felicity ;-)
 
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Reply: 1
From: Rolf Latham


Hi Felicity

A wealthy client of mine once told me to jump, but to have enough in reserve to:

1. Survive downturns
2. Buy downturned property at a bargain price

Ta


Rolf
 
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Reply: 2
From: Rachel Freedman


Felicity

I can't help but feel it is like being preganant - you never notice pregnant women yet when you are pregnant they are everywhere!

Maybe you are just getting into more conversations with people about IP's coz you are now into them.

RF
 
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Sim

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Reply: 2.1
From: Sim' Hampel


Can't say that I know what that's like (being pregnant that is). Perhaps you could come up with a better analogy ? ;-)

 
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Reply: 2.1.1
From: Apprentice Millionaire


Hi Sim',

>Can't say that I know what that's like (being pregnant that is). Perhaps you could
>come up with a better analogy? ;-)

Maybe it is like when you drive your Porsche you notice all the other Porsches on the road? :)

I haven't had Felicity's experience with people talking about investing in property, although I have noticed that once I start mentioning property, all my friends want to offer me advice despite not having any IPs themselves! So I tell them I will double check their financial advice with my butcher. Or the baker. Or the candlestick maker :)

Cheers
Apprentice Millionaire
(aka Jacques)
 
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Reply: 2.2
From: Felicity W.


Well, I have done both!! I never seemed to notice more pregnant women! I noticed more when I was TRYING to get pregnant, once I was I didn't give a you know what about other pregnant women.
Anyway, enough psychology.
I have to disagree on this one - we've been looking at or investing in IP for over 3 years, and it's only been the last few months (with the rise of certain seminar presenters!!) that people are talking about it.
Again going back to the sharemarket analogy, the worst time to buy is when everyone is talking about the sharemarket...
I haven't caught a taxi recently, but I bet if I did the taxi driver would start talking IP.
Keep smiling
Felicity :cool:
 
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Reply: 2.2.1
From: GoMichael !


J.P.Morgan said,

"When the shoeshine boy starts giving you advice, it's time to get out of the market."
 
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Inaugural GoMichael posting !

Reply: 2.2.1.1
From: Sim' Hampel


Wow... the very first posting from GoMichael... after his popularly acclaimed auctioneering display at TW's BBQ, the man has stepped out and into the world of IP discussions !

Welcome GoMichael - we eagerly await your valuable contributions !

;-)

 
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Inaugural GoMichael posting !

Reply: 2.2.1.1.1
From: Gee Cee Cee


Welcome Go Michael.

I hope you have now installed a extra computer a couple of more phone lines and also satellite dishes.

If you need to talk to Go Anna you can at least email her.

As to the post regarding everyone getting hyped at property.

I saw the same thing happen around 1988-89.

It has only just started again. i have recently had heaps of people I know say they are now going to take my advise and buy investment property. (I told them about 3 yrs back to get in.)

They are all of a sudden experts.

Buying 5 bedroom homes for $400k+ that have spa baths, dishwashers, imported tiles , stainless everything etc, etc, etc.

When I offer advise they just ignore it.

Anyway I will just wait and pick up some bargains in around 2-3 yrs.

Gee Cee

The Unemployed, Pessimistic Bum.
 
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Reply: 2.2.1.1.1.1
From: Megan Reimers


Hey there Gee Cee,
So what was your advice and what would your advice be now....just starting myself... closing on my first deal with 15k profit and wanting to do soooo much more.... infact we are selling our own home next so we can invest our tied up equity...please don't tell me I missed the boat!! Even if we have I still think that it is better to be in the game than not at all!!
Megs
 
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Reply: 2.2.1.1.1.2
From: Steve G


Gee Cee, its a case of "you can lead a horse to water..."

But we know your real value and will always listen to you :) Just keeping watching your "instant experts" - I'm sure it will provide hours of fun and amusement for you!

Also, nice to see you here, GoMichael!

Steve G
 
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