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Patrick and Aimee Taskunas - three properties by age 22; Just do it. Don’t wait for the moment to pass, or try to “time the market”
Topic Started: 20 Sep 2014, 12:32 AM (13,282 Views)
Ex BP Golly
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Jimbo
20 Sep 2014, 01:54 PM
And what has the guy actually done?

He's read a book and decided he wants to retire a multi millionaire at 37.

He missed the chapter about rates and water rates though "The extra rates and water bills aren’t appreciated; we didn’t really budget for these to start with"

So he has leveraged up and is on the hook for 500k, has no full time job and hasn't actually made any money and yet he is advising everyone else to "just do it".

Brilliant.





Do you get the feeling that he hopes to flip before a hot water service or stove, or sewage pipe goes bung and he has a few more unexpected bills?
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Jimbo
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Ex BP Golly
20 Sep 2014, 02:36 PM
Do you get the feeling that he hopes to flip before a hot water service or stove, or sewage pipe goes bung and he has a few more unexpected bills?
No, he probably thinks that the water company will fix those for free (I actually dealt with someone in my plumbing days who believed that their leaking pipe in the bathroom was the water corps responsibility and wanted me to send my invoice to them.).

Honestly, who did he expect was going to pay the water and council rates?
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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newjez
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It does worry me that mike thinks this irresponsible behavior is something to be championed. If the guy had a job and could meet his financial obligations in the event of losing a tenant, that would be another matter. But these kids are just gambling with other peoples money in the belief that if it goes pear shaped, they will walk away.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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doubleview
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The fact is the casino is beyond rigged & the bears got in a cab and went home a long time ago!

That is why when a bull wannabe fake success joker is trotted out, the bears have a laugh!

Its as simple as that!

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vdmruss
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newjez
20 Sep 2014, 04:23 PM
It does worry me that mike thinks this irresponsible behavior is something to be championed. If the guy had a job and could meet his financial obligations in the event of losing a tenant, that would be another matter. But these kids are just gambling with other peoples money in the belief that if it goes pear shaped, they will walk away.
This is something that is particularly irritating about the residential property investment saga.

The smug superior attitude if successful and the desperate "how could this happen to poor me and my wife were just trying to save for retirement, it's the government's fault and the banks for lending me money I couldn't afford" attitude when things go the other way.

I haven't seen this moronic attitude from true business owners, or from commercial property investors, for example.





Let me assure you that this isn't one of those shady pyramid schemes that you've been hearing about. No sir, our model is the Trapezoid which guarantees each investor an 800% return within hours.
Those who can, do. Those who can't, teach.
"It's an itchy blanket, it's designed to remind you how lucky you are"
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stinkbug
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vdmruss
20 Sep 2014, 08:47 PM
This is something that is particularly irritating about the residential property investment saga.

The smug superior attitude if successful and the desperate "how could this happen to poor me and my wife were just trying to save for retirement, it's the government's fault and the banks for lending me money I couldn't afford" attitude when things go the other way.

I haven't seen this moronic attitude from true business owners, or from commercial property investors, for example.




And yet a far greater proportion of small business owners go backwards and lose the lot than residential property investors.

The media always likes to trot out out fringe stories and crazies. If you recall, being a fringe dwelling nutter was exactly what put the bear god Steve Keen into the media spotlight.
---------------------------------------------------------------

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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Garden Variety
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stinkbug
20 Sep 2014, 08:58 PM
And yet a far greater proportion of small business owners go backwards and lose the lot than residential property investors.
Mores the pity.
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Ex BP Golly
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doubleview
20 Sep 2014, 07:46 PM
The fact is the casino is beyond rigged & the bears got in a cab and went home a long time ago!

That is why when a bull wannabe fake success joker is trotted out, the bears have a laugh!

Its as simple as that!

More so when a rampant bubble pumper like CJ tell them the games up and its time to get out!
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Blondie girl
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Yet Steve Keen (Mr Bean to me) was absolutely naive in considering increased demand from investors once IR dropped. :bl:

People can have a mentality to gamble (take large risks for a short term fix) in any investment mode, I've never understood that really.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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goldbug
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Jimbo
20 Sep 2014, 12:40 PM
Mike
20 Sep 2014, 12:00 PM
Wow so much negativity.

It appears anyone who stands up and has a go is torn down by the "how dare they try and be successful".


The bloke does a bit of part time at Woolies, stays with his parents board and rent free, borrows a shit load of money and buys three properties, didn't realise that he had to pay rates and water rates and you think he is a genius.

Says it all really.
In his mind mike is still living in 2006, back when the wheels on our economy were spinning madly. Poor mike had his tv turned off when they announced the gfc, the collapse in house prices, the runup to 9% rates and the wind down of retail construction and mining.

It truly amazes me that bulls pretend all that never happened, that it's normal for an advanced economy like ours to fall on its face, get up with multiple injuries and walk on as before. Our economy is running on vapors basically, this is the new normal, and the bulls believe one aspect is not effected. Residential property, the single biggest component of the Australian economy.

There is a simple reason property has not crashed. It is being supported at all cost by government and the banking sector. For the simple reason that when it goes down it will take the rest of the economy with it.

It will go down. It's just a matter of time.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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