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Property investors who bought when everyone else was running away are now reaping the rewards
Topic Started: 25 Aug 2014, 06:15 PM (3,749 Views)
skamy
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stinkbug
26 Aug 2014, 11:18 AM
My mentor dealt with being forcibly removed from his country of origin and leaving with nothing, war, depression, high inflation, recession and all the other bad things of the last 70+ years. He maintains that property bought well, managed well, rented well and with a path to redevelopment is the lowest risk way to get rich slowly. He has told me to expect setbacks and problems, but also that success will come when you don't necessarily expect it.

You can continue to believe life as we know it is over if you want. If you are right, then there won't be any assets that are realistically worth having anyway. Alternatively, you could realise that we are a wealthy country located in a region with enormous potential as it develops, and that despite all those things you harp on about we are growing steadily larger and wealthier over time.

What you see as great disasters is really the seeds of the destruction of the middle class. So the question is: do you want to be in the middle class?
The truth is Stinkbug that it is the same type of people who are investing today, IMHO . People who have escaped poverty and are determined to make the sacrifices necessary to get a better life for their children.

They know that nothing comes from nothing and investing in property is not easy for many years. I seriously believe that it is a total bear myth the stupid people are the current investors.
Stupid investors arrive when the money looks easy after several years of capital growth. The stupid money wants something for nothing and at the moment that is the people sitting around waiting for others to hit hard times and sell them houses at bargain basement prices.



Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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Catweasel
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skamy
26 Aug 2014, 11:37 AM
The truth is Stinkbug that it is the same type of people who are investing today, IMHO . People who have escaped poverty and are determined to make the sacrifices necessary to get a better life for their children.

They know that nothing comes from nothing and investing in property is not easy for many years. I seriously believe that it is a total bear myth the stupid people are the current investors.
Stupid investors arrive when the money looks easy after several years of capital growth. The stupid money wants something for nothing and at the moment that is the people sitting around waiting for others to hit hard times and sell them houses at bargain basement prices.


Catweasel say wisdom of sandpit scratcher is a beautiful,

and remind it of a wisdom of a David Brent:

"Does a struggling salesman start turning up on a bicycle? No, he turns up in a newer car - perception, yeah? They got to trust me - I'm taking these guys into battle, yeah?"
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stinkbug
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Catweasel
26 Aug 2014, 11:58 AM
Catweasel say wisdom of sandpit scratcher is a beautiful,

and remind it of a wisdom of a David Brent:

"Does a struggling salesman start turning up on a bicycle? No, he turns up in a newer car - perception, yeah? They got to trust me - I'm taking these guys into battle, yeah?"
A guy I often do work for drove a 10 year old Holden Astra until quite recently, despite earning over half a million a year. His view was that clients never saw his car, so why should he waste money on something he didn't value?
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Trojan
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Thanks Alex for the article.

This, in a nutshell, is why the bears here are so angry. There are always indicators pointing to prices going up and there are always indicators pointing to prices going down. In fact, the RBA almost always sets the opposite pointer (interest rates) to what the rest of the economy is doing.

The key of course is knowing which ones will have the strongest effects on property prices and which ones can be discounted.

The problem is the people who expected property prices to fall (which is the definition of property bear) put too much emphasis on factors which have negative impact on house prices and ignored the ones which have positive impact. As they say, the proof is in the pudding and despite numerous threads and reasons provided by bears why house prices should be falling from 2008, they have been rising. And those who were smart enough to not listen to the doomsters have definitely reaped the rewards.

I'm proud to say I'm one of them smart ones who have benefited. :)


Then there are those who swallowed the doomsters crap and were crazy enough to sell their Sydney homes and some even put all the proceeds into gold!! A lifetime of savings down the drain there ...
Edited by Trojan, 26 Aug 2014, 05:26 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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