Millionaire tips Perth housing boom

i would have thought he obvious indicator was people paying over and above the already cheeky asking price, and the vendor telling themselves "it's not worth that much...?"

:rolleyes:


Hi Aaron
Not really sure what you mean??? but I know many investors who kept purchasing in Perth even when the market peaked and got burnt badly, they just ignored the obvious I guess or believed the boom would never end.


Cheers MTR:)
 
Hi Aaron
Not sure what you mean, but I know many investors who kept purchasing in Perth even when the market peaked got burnt badly, they just ignored the obvious I guess or believe the boom will never end.
My point was it was a good call to get out in 2006.

Cheers MTR:)

it's hard to trade property due to the disgusting transaction taxes (not to mention the income tax and GST results) and it's hard to turn your back on your friend the trend, so it is understandable. I did hear of a couple of people that did major liquidations, like 40 properties just sent to market and cleared.
 
If I was a multimillionaire that had recently bought a few properties in Perth, I would be telling anyone who is prepared to listen that I reckon the market is just about to take off.

I also reckon the market in 25 year old Toyota landcruisers is about to go through the roof....


Funny though the Perth market is starting to take off.
Market sentiment is changing:)
 
isn't this what we have been saying for over 12 months on here? Perth is the best market in the country? The real opportunities were available towards the end of 2011.

Plenty of the bears were saying perth would go down another 30% at that time when really the signs of life were slapping you in the face.
 
it's hard to trade property due to the disgusting transaction taxes (not to mention the income tax and GST results) and it's hard to turn your back on your friend the trend, so it is understandable. I did hear of a couple of people that did major liquidations, like 40 properties just sent to market and cleared.

Yes, I agree, stamp duty is my pet hate.
 
it's hard to trade property due to the disgusting transaction taxes (not to mention the income tax and GST results) and it's hard to turn your back on your friend the trend, so it is understandable. I did hear of a couple of people that did major liquidations, like 40 properties just sent to market and cleared.

someone i know had to clear $over $80m in property within i think 6 months, poor ******* was less than $10m short or so but was still made bankrupt, i reckon his assets were worth at least $200m if it wasnt for the fact he had to do a firesale
 
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isn't this what we have been saying for over 12 months on here? Perth is the best market in the country? The real opportunities were available towards the end of 2011.

Plenty of the bears were saying perth would go down another 30% at that time when really the signs of life were slapping you in the face.

Hi BT
That's right, I am a believer, I have abandoned the East for the moment as I have seen the light;) Are you still looking/buying in Perth???

Cheers MTR
 
someone i know had to clear $85m in property within i think 6 months, poor ******* sold $78m or so but was still made bankrupt, i reckon his assets were worth at least $200m if it wasnt for the fact he had to do a firesale

I bet he is back, better and stronger, anyone who can make this type of money will be able to do it again:)
 
I bet he is back, better and stronger, anyone who can make this type of money will be able to do it again:)

yeh i know a few guys that went down spectacularly like this. looked one up the other day out of interest and he is off again doing this and that.
 
I bet he is back, better and stronger, anyone who can make this type of money will be able to do it again:)

First deal back is looking like making nearly $6m...

He is a bit of an unofficial mentor for me, every single time i sit down with him i walk away learning something i didnt know before.
 
Wouldn't happen to be a Mr Saraceni would it?

nah, this guy wasnt as big as Mr Saraceni. I hope he gets CBA/Bankwest for what they did to him, completely ridiculous. His equity in Raine alone was sufficient at completion to pay out his debt but they took Raine and everything else off him.
 
His equity in Raine alone was sufficient at completion to pay out his debt but they took Raine and everything else off him.

that's what banks tend to do Sanj. if you have defaulted on the loan you have defaulted and they go for the kill. that's why I couldn't give a stuff when I see someone stick it to a bank because what goes round comes round
 
nah, this guy wasnt as big as Mr Saraceni. I hope he gets CBA/Bankwest for what they did to him, completely ridiculous. His equity in Raine alone was sufficient at completion to pay out his debt but they took Raine and everything else off him.

This is trivia, but its a small world went to school with his sister Rosanna, our children went to same school.

Lots of perks for her, she got to go to Italy to pick out his ferarri, this was some time ago now before the s... hit the fan.

I really love his resturant in Margaret River if he still owns it

http://www.duckstein.com.au/
 
I believe he/his family still owns duckstein business but they had to sell saracen estates winery and the land which duckstein is on
 
I don't know about growth but my agent just told me they will be increasing rent by $50.00 to my tenant (2 didgit % increase).
I found that interesting and there was no objection from the tenant (yes, I have been increasing rents since the beginning not just on this occasion). So I am not complaining.
I just wish I did buy more in Perth when I had a chance....
 
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