What are the differences, between the Somersoft crowd and the crowd over at the propertyinvesting forum? I'm aware that Steve McKnight advocates for positive cashflow, so there might be a lot more people with that mindset over there. But what values and principles do you share in common at Somersoft?
Somersoft vs Propertyinvesting forum
- Thread starter noodles
- Start date
I think the main difference is that it appears to be more of a community here. There are lots of different people with lots of different veiws on property investment here, who (for the most part) are extremely helpful and supportive.
I am not a fan of the other forum myself, but for me it definitely comes down to the fact that people here seem much more friendly and sociable really.
I am not a fan of the other forum myself, but for me it definitely comes down to the fact that people here seem much more friendly and sociable really.
noodles,
Both forums contain investors with widely different approaches to investing. There is no one 'Somersoft school' as people have done with with both houses and units, buy/hold or renovating, regional or metropolitan and various criteria for assessing investment value.
There is a widespread view in favour of 'financial independence', in other words replacing or supplementing your job income with investment income, and/or building an asset base to provide more choices in life.
Many here would probably agree that buying rental properties benefits them financially, and that if you borrow money to do it you will gain long-term as the real value of debt declines with inflation but the real value of the asset at worst stays steady but may often rise. Some here might accelerate this value increase through renovating or smart buying. Even if it is not true at the time of purchase, eventually the rental income will equal or exceed holding costs, improving serviceability so much that more property can be bought if desired.
Having said that there are many commonalities.
* Both forums contain people who aim to prosper through property investing.
* Both forums contain people who don't have investment properties but want to learn more.
* Both forums contain people who work in the industry (may or may not have IPs themselves). Some may misbehave and try to use the forum to advertise or promote themselves.
* Both forums contain people who like to stir, argue or spam.
There are also differences.
* The moderation style is different between the forums. One looks more controlled; the other less controlled.
* The average quality of posts differs between forums, although both can contain very good and very bad posts.
* There seem to be different attitudes to some material eg advertising
* One forum seems to have a wider range of informed opinions better at detecting scams and shonks. There is also a bias to 'doing your own research and buying decisions'.
Sim
Administrator
The basis for most (but not all) people involved in the Somersoft forums is the books written by Jan Somers - http://www.somersoft.com.au/books.htm
Certainly not the only strategy represented here - but many people came to this site after reading one of Jan's books.
Certainly not the only strategy represented here - but many people came to this site after reading one of Jan's books.
Thanks for the replies
I did meet a guy from the PI forum. For someone in the IP broking business, he didn't try to sell me anything. He simply got me to think, even though he could of answered my questions directly, he got me thinking. It's quite humbling to meet a person, who even on our 2nd meeting never talked once about his business.
Anyway, I posted a few questions there, but somehow I drifted to SS. I find myself staying here, reading and asking questions, though I haven't met anyone here personally.
I've read one of Jan's book, it seems sensible, realistic and doable, so I assume many of you sort of think in like terms - though I know you don't all agree. Anyway, that initial meeting was a catalyst and got me thinking about IP's. Though I sometimes wonder which of the forum and people I should hang around with to let them shape my thinking.
I did meet a guy from the PI forum. For someone in the IP broking business, he didn't try to sell me anything. He simply got me to think, even though he could of answered my questions directly, he got me thinking. It's quite humbling to meet a person, who even on our 2nd meeting never talked once about his business.
Anyway, I posted a few questions there, but somehow I drifted to SS. I find myself staying here, reading and asking questions, though I haven't met anyone here personally.
I've read one of Jan's book, it seems sensible, realistic and doable, so I assume many of you sort of think in like terms - though I know you don't all agree. Anyway, that initial meeting was a catalyst and got me thinking about IP's. Though I sometimes wonder which of the forum and people I should hang around with to let them shape my thinking.
Me too. I met this lady once, said she posted on the Somersoft site. Put me right off my dinner she did. Dreadful state of affairs. And I was so looking forward to my Duck ala 'Range.
And this one time, at bandcamp, I met this man who was supposedly a moderator on Somersoft. He was really nice. We really did the tango that night. Wow - he was so special.
That's why I hang with this SS crew. They are really accomodating to my special needs.
Don't tell Rhonda!
I think the Somersoft community represents a greater diversity of approaches. I also think Somersoft posters are, on average, better-educated with respect to property, and are pursuing more advanced strategies. Put bluntly, I think PI.com is better for beginners, but there comes a time when you'll outgrow the level of information that you can obtain there.
I started off over there.
It was good back then, but there started to get some quite vicious and destructive types hangin' around.
That wasn't the main problem; I got into some great arguments with a few of them, but then I found here somehow.
The mood was/is different; warmer, friendlier - gradually preferred to be here.
Besides; I like the pretty blue colour of the site.
It was good back then, but there started to get some quite vicious and destructive types hangin' around.
That wasn't the main problem; I got into some great arguments with a few of them, but then I found here somehow.
The mood was/is different; warmer, friendlier - gradually preferred to be here.
Besides; I like the pretty blue colour of the site.
I remember thinking that you talked a lot of sense, and were aligned with my thinking, and emailed you to see whether you might like to take a look at SS.
I don't like the blue but I just happened to have a blue butterfly avatar (its from http://giraffian.com/kids/crafts/butterflies ) floating around so that was enough of an excuse to park myself here.
Never been on PI.com, I'm from the *censored* forum. I think property is too expensive and needs correcting, but that isn't stopping me buying the really cheap ones using dubious lending practises and iffy subdivision techniques that I wouldn't even have heard of if it wasn't for the *censored* forum complaining so loudly about the Bad Things that SSers do. I figure if it works for the riffraff over on SS it can work for me too
I guess I'm just an opportunist. And my track record of fixing up dodgy old houses that noone else wants isn't helping my case
Never been on PI.com, I'm from the *censored* forum. I think property is too expensive and needs correcting, but that isn't stopping me buying the really cheap ones using dubious lending practises and iffy subdivision techniques that I wouldn't even have heard of if it wasn't for the *censored* forum complaining so loudly about the Bad Things that SSers do. I figure if it works for the riffraff over on SS it can work for me too
I guess I'm just an opportunist. And my track record of fixing up dodgy old houses that noone else wants isn't helping my case
Sim
Administrator
Besides; I like the pretty blue colour of the site.
Oh. I was thinking of changing it.
Just don't go all modern decor and put in lots of shades of chocolate brown, mmmkay?
I have migrated over to SS from the PI forum in the last few weeks. Decided to register on here a few days ago.
There is a real warm fuzzy feeling you get from SS. Everyone is very helpful and you have a lot of great tools like those spreadsheets i recall seeing a few days ago, sorry still working my way around the site. lots of great useful info and people are always willing to share there story no matter how small or big, which is good for people starting out in the game.
I registered on PI years ago like 2004 maybe, have used it for years but lately i see people getting flamed just for asking a question, the arrogance of some people on there.
SS has my vote!
There is a real warm fuzzy feeling you get from SS. Everyone is very helpful and you have a lot of great tools like those spreadsheets i recall seeing a few days ago, sorry still working my way around the site. lots of great useful info and people are always willing to share there story no matter how small or big, which is good for people starting out in the game.
I registered on PI years ago like 2004 maybe, have used it for years but lately i see people getting flamed just for asking a question, the arrogance of some people on there.
SS has my vote!
We tend to do more of the "slice & dice" on SS rather than flame ppl
We'll cut up your Q's and examine every word in minute detail and then pick and pick till it bleeds..............if you can survive it, you can learn a lot - but you don't get away with anything
And if you post late on a Friday night - you might get the warm fuzzy stuff from those of us who take a 'medicinal' at the end of the week.
I've been around the forum longer than it says in my profile, don't know why that is but heck who cares about that....
What I am certain about is that Jan Somers' books and this forum are directly responsible for our success in property investing, which was something I knew absolutely nothing about until 1997, when the Mrs brought this blue covered book home and said read it...initially I thought....hmmm scam.....but glad i turned the first page, cause I didn't stop 'til it was read cover to cover twice...!
The light switched on and I'd hate to think where I'd be now if that little blue book did not turn up......God help me...
I'm still thinking of a class action against the education department for not letting this cat out of the bag whilst in my senior yrs at school....!
Don't need any other forum, have never bothered to even look anywhere else...this has always been friendly, informative and helpful (apart from some idiots in the last couple yrs, why do they bother). I believe this forum was created to help people who wish to go down the Somers way of investing and nothing else.....contrary to the rumblings of some that obviously have issues with it.
Heck, it's not a sect....it's not religious.... it's real with real people telling real stories of success and their failures and this is where they come to heal their wounds and confirm their glories....!
We are lucky for this huge resource to have at our disposal, cost free...!
What I am certain about is that Jan Somers' books and this forum are directly responsible for our success in property investing, which was something I knew absolutely nothing about until 1997, when the Mrs brought this blue covered book home and said read it...initially I thought....hmmm scam.....but glad i turned the first page, cause I didn't stop 'til it was read cover to cover twice...!
The light switched on and I'd hate to think where I'd be now if that little blue book did not turn up......God help me...
I'm still thinking of a class action against the education department for not letting this cat out of the bag whilst in my senior yrs at school....!
Don't need any other forum, have never bothered to even look anywhere else...this has always been friendly, informative and helpful (apart from some idiots in the last couple yrs, why do they bother). I believe this forum was created to help people who wish to go down the Somers way of investing and nothing else.....contrary to the rumblings of some that obviously have issues with it.
Heck, it's not a sect....it's not religious.... it's real with real people telling real stories of success and their failures and this is where they come to heal their wounds and confirm their glories....!
We are lucky for this huge resource to have at our disposal, cost free...!
