Very quiet without JWR

I agree in principle - but in practice I know that I have to be tough to get ahead (at least until I reach a certain point - then I can relax). Outside of business I would never act in the same way - but its pretty hard finding great deals - so when you find them I think you have to do whatever it takes to get them.

But I'm sure I will see your point of view more in a couple of years time... a millionaire by then I'm sure :)
 
Interesting perspective.

I have found it is amazing the number of times you happen to bump into someone, that you never thought you would again.

I guess you will just have to hope you don't have to rely on those you have burnt/mucked around.

The vendor may be relying on the funds from your sale for their purchase, which they obviously won't have, mucking around yet another Person.

Most of the time with wealth creation the talk of goal setting and as MsAli puts it self awareness go hand in hand. The problem is, the journey you are in its just that, a journey, not a sprint.

Maybe a quick read of Napoleon hill, think and grow rich, or richest man in Babylon may assist with this mindset. As an aside if you act with integrity outside of business, why Would that change for you when you are building your business?

One final point-I assume the savings you are making is not 100k-that is how much you value the deal at, but it is the extra Weeks interest.
 
We were the recipients of a protracted delay on a settlement of one of our PPoR's...it was not very funny at all.

The scenario was we were "asset rich and cash poor" at the time (still the bloody same); to the point where my wife almost had a nervous breakdown during the period we owned this house (borrowed a lot to buy, and after 2 years couldn't stand the "no life" position).

So, after several months found a buyer, but they took 8 months to settle the deal, with several deadlines missed due to various reasons.

The longer it dragged, the worse her mental heath got.

Didn't do too much for my mental state either; started drifting my thoughts towards subliminal ways of sabotaging the house to spite them...stuff which would come to light way after we had left the place....the dark side was emerging.

So you need to be careful how you deal with folk.

It should be win-win.
 
On a side note, I thought if buyer delays settlement for whatever reason, there is penalty interest to be paid. Is this not the case?
 
Being ethical in our personal lives is the easy part. It's being ethical while navigating the ups and downs and always-close calls of business life that is the hard thing. I've never met anyone who actually likes (rather than fears or envies) a rich weasel though.
 
Belbo said:
Being ethical in our personal lives is the easy part. It's being ethical while navigating the ups and downs and always-close calls of business life that is the hard thing. I've never met anyone who actually likes (rather than fears or envies) a rich weasel though.
Click to expand...

I prefer to do things the right way.

I was brought up that a quick buck isn't the best way of doing things.

You never know when you are going to do business with someone again. If they have treated your right and you have treated them right better opportunities tend to arrive.

It's a long term view rather than a quick buck.

Yep. People are successful by only being interested in themselves and treating others like a commodity. But they are only successful in making money. Nothing else.
 
certainly if selling we would not want to waste time with a buyer who was not in a position to purchase the property in a timely manner.

we would expect our agent to weed out those not qualified to purchase.

of course currently it seems to be a buyers market but that will not always be the case.

thankfully we are not needing to sell but if we were we would reject offers with a protracted settlement date. fortunately we do not need or want to sell.

being treated as described with deferred settlement would be a pain, and i feel for those who are subjected to such tactics.

if buyers are thin on the ground i suppose agents cannot be more selective of who they deal with. for us we would consider it a waste of time and move on to someone who can demonstrate an ability to pay, rather than just a desire to do so one day.

fantasy and reality???
 
Moral Ground

Hiya

Let's not forget JWR is only 20.....in time he will learn to think long term rather than short term:)
 
Interesting way of looking at things JWR.

Why do you think you have to be tough and aggressive in business - and do "whatever it takes".

In my (now) nearly 15 years in the business/investing arena, I've never had to be tough or nasty or aggressive or buggerising around. I find a pleasant demenour, friendly attitude, quick response and sharing a joke gets me so much further.

And then I have business contacts that will go out of their way for me, do extra at no cost and make recommendations/suggestions ... many I've worked with now for over 10 years.

In my very early work years I thought I had to be an "at all costs" person - not nice to be around at all - burnt a lot of bridges - and - in hindsight - quite nasty ... needless to say, many of those people wouldn't give me the time of day now.

I now know which path is much more pleasing, fun, less stressful and provides better results.
 
Also note the vendor is the bank - wouldn't intentionally want to be an a-hole to a vendor in need of the money.

Yes 100k+ in equity made not savings.

Just need to get what I want to make it a good deal as its my family's financial future on the line.

Have read those books - good books too.

No penalty interest because the vendor just kept allowing extensions (much to my surprise - and for different reasons each time.)

If they'd just listened in the first place to my 4 month settlement ask all would be resolved.

I wanted to talk about the reno more than this insignificant side-note - whether I did it well and how I can improve etc... for next time.

Still need to learn how to polish floors and fix the roof etc... of which the latter is proving a little difficult for me to learn but still trying :)
 
My brother is the nice guy Lizzie (18 y/o so hasn't helped yet)

I'm the business guy just focused on numbers - if it works great - if it doesn't, move on.

I would like to be what you describe but am better utilised on finding the good deals - and I will delegate the small talk to others who are better suited at it than me.

I thank everyone's opinion though - as I always try to see each perspective and mold them together to form my own.
 
there is no right or wrong way to doing business, im sure the most successful people in the world, you'll find some are complete arrogant pricks, while some are as nice as a old lady,

some may be aggressive go getters that will burn any bridge for the remote chance of getting a better deal or even step over their mothers grave, while some may talk to telemarkters for 30 mins i nthe hope of not offending them,

I personally think that each industry or business type is different, ive never hung up on anybody in my life, but have had to for a few telemarketers

each to their style, I dont think any particular style would be better
 
Hi JWR,
I was looking back through the posts on gympie and came across this thread. I know the house that you bought and was looking at it myself. My only concern was the potential flood threat from both Deep Creek and the Mary River. How did the property fare with the flood this year? Do you have any recommendations on Gympie PM's as I will be renting my property out soon?
Cheers
 
Hi HH

That house is going bloody well 102.5k purchase spent 3k reno 240 rent solid qlder. Floods were fine - the property is on high land so no issues - and also on high concrete stumps so high and dry.

I'm in ipswich atm renovating a recent purchase and will be in gympie with my tradies on Friday will spend about 2k on little things to improve value of house to reval higher so can meet up if you like when free.

James
 
Hi JWR,
That's great to hear that your house is going well. I have driven past it wondering who snapped it up many times now. Unfortunately I will be back at work on Friday so will have to give it a miss. I hope your reno goes well and look forward to hearing the updates. Out of curiosity, what made you invest in Gympie and what do you think of the property market?
Cheers
 
Hi HH

I don't think its a great place to invest maybe 6/10 but I bought the house because it was a bargain - and something I could hold without any expenses and revalue to buy something else. It sold for 180 I think it was in 2003 and next door sold for
300 so its instant equity.

I'd buy somewhere else if I were you if you already live there maybe Ipswich or Logan or if you are keen interstate but the only requirement should be bargain so you can revalue and buy again afterwards. I've never bought in Sydney where I live as I haven't found a great bargain yet.

I used Harcourts who were a little slack at the beginning but are pretty good now - perhaps interview all of them and pick the best - but ideally pick none and venture elsewhere for diversity if nothing else
 
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