Melbourne September 2010 Somersoft Meeting
- Thread starter The Y-man
- Start date
Fantastic evening! Thank you for coming and sharing with us Dazz, it was thoroughly enjoyable and enlightening.
And thank you to Y-Man for organising.
And thank you to Y-Man for organising.
Andrew - after tonight's enthusiastic reception, you never know, Dazz may have discovered a new calling and may be taking 'Dazz: The Musical' out on a national road show!
So you could hear for yourself when the roadshow arrives at a town near you!!
Seriously, Dazz, thanks for the great Power Point presentation and the detail you put into the two or more hours of your 'chat'.
Y-man, thanks for organising the room - it was great to see so many familiar and new faces
cheers
Kristine
So you could hear for yourself when the roadshow arrives at a town near you!!
Seriously, Dazz, thanks for the great Power Point presentation and the detail you put into the two or more hours of your 'chat'.
Y-man, thanks for organising the room - it was great to see so many familiar and new faces
cheers
Kristine
I actually checked out flights to Melb a few days ago as I thought Dazz would put on a good show. School hols had the return trip over $2k for tbh and me...which we cringed at. Tonight, we saw Wall St 2 instead 
Thanks Guys
Thanks to Yman for organizing and Dazz for being so open and sharing all the great information.
My summary of the night for those not there is as follows:
In reality Dazz doesn’t know much, he doesn’t know:
• That he could have financed 100% plus cost of his early purchases without the cross securing his properties and having the subsequent headaches later on
• The reason behind the Greek liquidity problems.
• The household debt to income ratios in Western Sydney
• The % of Australia’s GDP that is reliant on China
• Plus a whole lot of other ‘vital information”
He does however know
• How to make decisions and act upon them
• How to Find opportunities that others find too hard
• How to Use the laziness of large companies to his advantage
• How to match his investment strategy with his personality
• How to Move out of his comfort zone and try new and bigger investment property types (residential, dirty industrial, industrial, office building, retail, etc, etc
So in summary Dazz does not know (or care) for most of the things that many people spend years studying and analysing before ever making an investment property move, he does however know down to the very very very intricate details of everything he invests in. He invests in things he can control and doesn’t worry about the big picture stuff he can’t.
The result is he is clearly the most successful property investor I have ever met. Many people who have that wealth in property have made the money elsewhere and in effect stored it in property, Dazz has used property to create wealth 1000’s of times greater in size than his wage alone would have achieved.
Well done Dazz and thanks for sharing. BTW I still think there is good money and good opportunities for you in running investment syndicates in commercial property, and you would enjoy it!
Cheers
BT
Thanks to Yman for organizing and Dazz for being so open and sharing all the great information.
My summary of the night for those not there is as follows:
In reality Dazz doesn’t know much, he doesn’t know:
• That he could have financed 100% plus cost of his early purchases without the cross securing his properties and having the subsequent headaches later on
• The reason behind the Greek liquidity problems.
• The household debt to income ratios in Western Sydney
• The % of Australia’s GDP that is reliant on China
• Plus a whole lot of other ‘vital information”
He does however know
• How to make decisions and act upon them
• How to Find opportunities that others find too hard
• How to Use the laziness of large companies to his advantage
• How to match his investment strategy with his personality
• How to Move out of his comfort zone and try new and bigger investment property types (residential, dirty industrial, industrial, office building, retail, etc, etc
So in summary Dazz does not know (or care) for most of the things that many people spend years studying and analysing before ever making an investment property move, he does however know down to the very very very intricate details of everything he invests in. He invests in things he can control and doesn’t worry about the big picture stuff he can’t.
The result is he is clearly the most successful property investor I have ever met. Many people who have that wealth in property have made the money elsewhere and in effect stored it in property, Dazz has used property to create wealth 1000’s of times greater in size than his wage alone would have achieved.
Well done Dazz and thanks for sharing. BTW I still think there is good money and good opportunities for you in running investment syndicates in commercial property, and you would enjoy it!
Cheers
BT
Thanks for sharing Dazz, very thought provoking and inspiring presentation.
I'm sure there are thousands of minor details you’ve picked up over the course of your investment progression that all come together to allow you to evaluate and secure a deal. However one major thing I took away was that, while not without significant risks that need to be considered, commercial can definitely be started sooner rather than later - even if you have to step out of your comfort zone a bit, and slowly you will learn by doing and with each deal gain invaluable experience.
It is so much more beneficial to hear practical thoughts and experiences from an intelligent, humble and successful investor who is genuinely there just because they like conversing with other like minded individuals, rather than someone who has a vested interest in selling you something, thanks again.
I'm sure there are thousands of minor details you’ve picked up over the course of your investment progression that all come together to allow you to evaluate and secure a deal. However one major thing I took away was that, while not without significant risks that need to be considered, commercial can definitely be started sooner rather than later - even if you have to step out of your comfort zone a bit, and slowly you will learn by doing and with each deal gain invaluable experience.
It is so much more beneficial to hear practical thoughts and experiences from an intelligent, humble and successful investor who is genuinely there just because they like conversing with other like minded individuals, rather than someone who has a vested interest in selling you something, thanks again.
Thanks to the y-man for organising it, very worth while use of a night. Its the first session i have been too and now hope to be a regular.
Extra thanks to dazz for answering the questions even when some of them seemed rather basic.
Extra thanks to dazz for answering the questions even when some of them seemed rather basic.
Great post BT. You nailed it. You captured the flavour and essence of the night nicely
We were treated last night to the consummate "millionaire next door." Dazz is the antithesis of the "big hat, no cattle" axiom that afflicts much of the western consumers and wannabe's in our world.
I know this a book favoured by Dazz and it is also one that resonates strongly with me also. For those who haven't ever read "The Millionaire Next Door" by Stanley and Danko, do yourselves a favour and get your hands on a copy post haste.
Dazz, your candid sharing of your journey and successes was greatly appreciated. I have even more appreciation and respect for your sharing of the less than successful initial resi investments that you made. It takes a big person and, I don't mean in stature
, to share the mistakes and learnings of the initial investing journey, rather that bask in the glory of the latter more fruitful commercial acquisitions.Big bloke, big heart, big story.
A pleasure to have met you in person.
The BEST Presentation Talk I have ever been to MIG or SIG, and I use to organize the SIG ones!
Dazz is a shining inspiration of the power of action! Gunnas talk this and analyze that but in the end you have to have a go, take a risk and work hard.
The summary below is right on the money.
Keeping confidentiality intact as requested, but the deals Dazz has achieved are astounding and I don’t astound easily. His honest and detailed assessment of his wins and few losses was refreshing.
Thank you Dazz
Dazz is a shining inspiration of the power of action! Gunnas talk this and analyze that but in the end you have to have a go, take a risk and work hard.
The summary below is right on the money.
Keeping confidentiality intact as requested, but the deals Dazz has achieved are astounding and I don’t astound easily. His honest and detailed assessment of his wins and few losses was refreshing.
Thank you Dazz
Great night. Thanks Dazz for sharing so much information. By the time you had finished I thought it had been going no more than an hour only to find it was two and half hours later.
Thanks Y-man for organising the venue again.
As a new member and relatively new investor the forum and nights like last night are invaluable. I'm sure everyone is aware and wary of the fact that most if not all property seminars are starting points for spruiking courses, mentorships and countless other must attend or be left behind events. To be able to listen to someone who has done it and was so willing to go through the journey step by step with everyone was fantastic.
Only my second meeting and already looking forward to the last Wednesday of every month.
Thanks Y-man for organising the venue again.
As a new member and relatively new investor the forum and nights like last night are invaluable. I'm sure everyone is aware and wary of the fact that most if not all property seminars are starting points for spruiking courses, mentorships and countless other must attend or be left behind events. To be able to listen to someone who has done it and was so willing to go through the journey step by step with everyone was fantastic.
Only my second meeting and already looking forward to the last Wednesday of every month.
Thanks everyone for your kind words. It was fantastic to finally meet so many of the folk here on the forum and put a face to the various forum nik names.
I appreciate the effort of the Y-man for organising the venue, and especially for rescuing me from the maze that is Swinburne !! I was either going to freeze solid outside the library or wander around floundering between building looking for someone called Mr Somersoft....
To me, the night proved conclusively that, no matter how good the forum is for connecting people from all over oz, and the world for that matter......there is nothing better for humans to communicate than face to face.
Hopefully some folk gleaned something useful from our journey that they can apply to their own journey. Our circumstances and personalities are so very different, that one will need to cherry pick what is available to what suits them. What I do know, is that having driven around here in Melbourne for the last week, you guys are spoilt for choice to purchase great real estate.
Once again, great to catch up with you all. Cheers.
I appreciate the effort of the Y-man for organising the venue, and especially for rescuing me from the maze that is Swinburne !! I was either going to freeze solid outside the library or wander around floundering between building looking for someone called Mr Somersoft....
To me, the night proved conclusively that, no matter how good the forum is for connecting people from all over oz, and the world for that matter......there is nothing better for humans to communicate than face to face.
Hopefully some folk gleaned something useful from our journey that they can apply to their own journey. Our circumstances and personalities are so very different, that one will need to cherry pick what is available to what suits them. What I do know, is that having driven around here in Melbourne for the last week, you guys are spoilt for choice to purchase great real estate.
Once again, great to catch up with you all. Cheers.
Thankyou Dazz for all of the information you shared with us. It was also very generous of you to share your time. Very inspirational.
