From: Donna Larcos

I was just looking back over the postings
for the past few months and have noticed
that there are fewer and fewer Newbies,
bright-eyed and bushy-tailed with the
excited that comes when your first
discover your financial future in property.
Most of the posts are now about
wrapping, flipping, flapping, booms,
busts, clearance rates, tricky financial
maneouvres and a distinct element of
cynicism and hard-nosery.

I wondered how many of us first came to
the site having read one of Jan's books or
attended a seminar. I still remember the
night in 1994 when I listened to Jan
waxing lyrical about the benefits of buy
and hold property. I remember her saying
"You buy your first IP and then you buy
your second. Now this is the important
bit...(we leant forward our pens
poised) keep the first one."
Revelation! Scales falling from our eyes."
Life was so simple back then. I am
feeling very nostalgic.

Are there are any of you still out there?
The buyers and holders regardless of
booms or busts, negative or positive
gearing, who don't feel guilty when you
received a cheque from the tax man
because it means you might have made
a loss of the deal?

I was just wondering if we have lost touch
without roots.
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Reply: 1
From: The Wife

HI Donna,

I think a few months ago, there was a feeling as though the race was still on, now there is a feeling that the race is almost over, or that we are all running around looking for the last chair before the music stops, perhaps this frightens the newbies?

I know there are a LOT of new people to this forum, and right now they are reading the archives, that takes a considerable amount of time, I also know there are a LOT of lurkers, who just read, and arent ready to contribute yet, as they are probably still trying to absorb the huge amount of information on this site.

I know since the Australian Property Investor magazine came out with me in one of the articles ( and my email address printed) I have had over 600 emails, MOST of those I have referred to this site, and I have seen a lot of the names on the log in list, so I figure that they are all reading archives and absorbing.

Theres not as much need for newbie questions anymore, as most of their answers are in the archives, and thats usually where we send them of to when they ask questions :eek:)

As for the buy and hold crowd,

LONG LIVE BUY AND HOLD!, its a marvelous thing, and so are most of the other techniques being chatted about :eek:)

Theres my chat to myself for the day.

~Life is a daring adventure, or nothing at all~
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Reply: 1.1
From: Anonymous

Buying and holding is working for me

However it is interesting to read what other people are doing but I personally have to sleep at night so some of the more esoteric items on this forum may not be for me and I am not sufficiently interested in real estate to spend all my time researching bargins and dealing with that strange breed of people real estate agents.

Someone should write a half hour comedy series about that ridiculous profession

"I tell lies and I cheat both you and the Vendor, I know you know I do this but I am still going to do it anyway and just to add to the stupidity of it all I will regulate my fellow real estate agents myself so there is no consumer protection"
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Reply: 2
From: Michael G


I've still kept my first Ip and that was purchase with Jan Somer techniques.

Its a classic book-type purchase and has performed just like the book says :)

Yes I'm doing wraps but that will be a venture to generate cashflow to purchase more buy/holds.

If I can have a property holding of $1-2mil NET, earing a 5% yield, then that would be a great retirement safety net.

Michael G.
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Reply: 2.1
From: Trina Blum

Hi Donna,

I am one of the newbies, I've read a lot of books, been reading this forum and others for awhile and have just started looking for my first IP.

It is very daunting making that step of buying your first IP - not knowing if you will buy the "right" property and not sure if you have enough knowledge to be going ahead to buy. I've also found that opinions about the market and whether it is a good or not so good time to buy has undermined my confidence a little.

However, I have made the decision to buy (and intend holding for the long term) and I will spend time getting a feel for the properties before jumping in. I figure that even if my first IP is not the greatest of deals, I can only learn from the experience and improve as I go on.

As mentioned previously, I guess a lot of newbies have been doing what I have, and mainly read the posts without contribution until they're a little closer to being able to buy. It's just great that there are forums such as this where we can ask questions of the more experienced investors.

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Reply: 2.1.1
From: Paul Hendriks

Yes, your spot on in saying we may all be still absorbing the info on the site, & getting confidence as we go along.

I'm finding out about RE agents first hand as we speak, & finally gave him advice to sell my property with my terms, not what he kept suggesting (he reminds me of a cat in a cage, & thrown in a barrel of water, gasping for air - the commission)

Anyway I think when we have something worthwhile to contribute we certainly will.

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