but hey, if you want to sign off on deals that have you in fear be my guest... sounds idiotic to me...
Well I guess if you are a high flyer used to putting millions $ on the line in corporate deals then buying a house could be a little passé
We don't get many multi millionaires on this blog trying to find out what is happening in the property market. Those guys generally are in a completely different market.
Best of luck to you.
Any expressed market opinion is my own and is not to be taken as financial advice
Well I guess if you are a high flyer used to putting millions $ on the line in corporate deals then buying a house could be a little passé
We don't get many multi millionaires on this blog trying to find out what is happening in the property market. Those guys generally are in a completely different market.
Best of luck to you.
Did i say any of the above? just cos i sign deals with large sums does not make me a high flyer as the money needs to go to staff, rents, etc and i get whats left over .... ( in a year like this one in China where contracts are skint that actually leaves me with net loss so far , happy days )
Regardless, approaching a contract with fear whether its 20k, 100k, 500k or 10 million probably means there's something you should be looking over again ... contract is signed with your free will and its there to protect you and get you something you want - under conditions you agree to .
My feeling is if those families have put everything on the line and they are scared about it , theyve put too much on the table without understanding their options.. thats the problem with the whole market IMO.. people put their life savings into a deposit for mortgage as thats what everyone else is doing ..
are you fucking kidding me? .. sign a contract with a touch of fear ? that doesnt send bells that perhaps committing too much or perhaps? .. Would it not be prudent to do a bit more due diligence on exit plans to make sure if anything you are simply nervously excited about the opportunities the signing brings and confident this is a deal that will set you up - but aware of the risks with plans on how to deal with them just in case ?
i guess thats how you reassure your clients signing on to mortgages that its the right feeling when they see the numbers in front of their faces. Gotta keep the cashflow up and mortgage turnover rolling along right ?
edit: honestly that has to be the most retarted post ive read on this forum and i dont think could ever find a better comment to indicate where the dumb money is currently investing ... good lord..
I think if you re-read Peter's post you might find you are closer to agreement than you think.
Every time you make a commitment you are taking on risk whether you know it or not. Not being a bit afraid of the risks either means you don't know what they are (but they still exist) or you are signing with a very dumb counterparty who is taking on all the risks. TANSTAAFL
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
I think if you re-read Peter's post you might find you are closer to agreement than you think.
Honestly, my opinion is polar opposite of Peter’s. IMO, if you are feeling a sense of fear when you touch the dotted line then perhaps you HAVEN’T done enough DD and you need to step out of the room and cross your t’s and dot your I’s and relook at the terms and your situation. Contracts signings for me are exhilarating as it’s the point when I know we are ready.
If you have done your DD and understand the risks and have contingency’s for them and if you haven’t committed more than you can handle, why is there a need for fear?
Did i say any of the above? just cos i sign deals with large sums does not make me a high flyer as the money needs to go to staff, rents, etc and i get whats left over .... ( in a year like this one in China where contracts are skint that actually leaves me with net loss so far , happy days )
Regardless, approaching a contract with fear whether its 20k, 100k, 500k or 10 million probably means there's something you should be looking over again ... contract is signed with your free will and its there to protect you and get you something you want - under conditions you agree to .
My feeling is if those families have put everything on the line and they are scared about it , theyve put too much on the table without understanding their options.. thats the problem with the whole market IMO.. people put their life savings into a deposit for mortgage as thats what everyone else is doing ..
Well I didn't say they should sign with fear. I didn't say that they were scared, I said a "touch of fear" which to me means understanding that there is risk.
Let me get this straight - you are not wealthy, you sign contracts for amounts that make house prices look like small change, you lose money on the deal, but you sign these contracts absolutely fearlessly.
What could go wrong?
When does the book come out?
Any expressed market opinion is my own and is not to be taken as financial advice
Let me get this straight - you are not wealthy, you sign contracts for amounts that make house prices look like small change, you lose money on the deal, but you sign these contracts absolutely fearlessly.
this year its lack of contracts- i do believe i stated that above.. and ive mentioned it many times before how freaking hard contracts are to come by this year and how bone dry the economy is in china as well..
money earned from contracts in previous years have kept the lights on and enabled me to keep staff sitting at their desks on menial tasks. i cant wait to sign my next contract- which im hoping is imminent - but in the meantime im running at a loss to pay for costs while i wait for said deals to come to fruition.
and yes.. i sign contracts fearlessly... i know shit will go wrong, im prepared for it, and i cover my arse... the spells between the contracts give me nightmares..
this year its lack of contracts- i do believe i stated that above.. and ive mentioned it many times before how freaking hard contracts are to come by this year and how bone dry the economy is in china as well..
money earned from contracts in previous years have kept the lights on and enabled me to keep staff sitting at their desks on menial tasks. i cant wait to sign my next contract- which im hoping is imminent - but in the meantime im running at a loss to pay for costs while i wait for said deals to come to fruition.
and yes.. i sign contracts fearlessly... i know shit will go wrong, im prepared for it, and i cover my arse... the spells between the contracts give me nightmares..
Well that's the old European way. Work out a plan and follow it to the bitter end, bankruptcy or death if necessary. If you drive around marginal areas in rural Australia you will find decaying homes, farms, cattle properties, even small towns in some places. Europeans dig in and hold to the death.
Not so Aborigines. When they find that the food is scarce in an area, they move on. They are so much smarter than us.
I hope that you get a good contract that makes you some money.
Any expressed market opinion is my own and is not to be taken as financial advice
Well that's the old European way. Work out a plan and follow it to the bitter end, bankruptcy or death if necessary. If you drive around marginal areas in rural Australia you will find decaying homes, farms, cattle properties, even small towns in some places. Europeans dig in and hold to the death.
Not so Aborigines. When they find that the food is scarce in an area, they move on. They are so much smarter than us.
I hope that you get a good contract that makes you some money.
yep, so i have contingency plans....
And with that i'll let you get back to your customers
"You're scared? Dont worry, thats perfectly normal - all my customers are.. Now just sign here ,here and here right now and I'll get to this to the bank ! "
And with that i'll let you get back to your customers
"You're scared? Dont worry, thats perfectly normal - all my customers are.. Now just sign here ,here and here right now and I'll get to this to the bank ! "
no I didn't say that they were scared of signing the application form or the loan documents, usually by then they are very comfortable with their decision and they are quite excited, it's just a "touch of fear" at the contract stage that they feel.
There are people who are called "fearless borrowers" by the industry - they are considered high risk. Perhaps they are more your style. They often lose money too.
Any expressed market opinion is my own and is not to be taken as financial advice
no I didn't say that they were scared of signing the application form or the loan documents, usually by then they are very comfortable with their decision and they are quite excited, it's just a "touch of fear" at the contract stage that they feel.
There are people who are called "fearless borrowers" by the industry - they are considered high risk. Perhaps they are more your style. They often lose money too.
Just stick to peddling debt to customers u prefer to see a "little" fear in ...
And ill continue recklessly losing money in business
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