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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 (13,276 Views)
Chris
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paddytaskunas
6 Oct 2014, 12:24 PM
I just want my information removed from this site, including any use of my full name.

Thats all... not a huge ask I would've thought.
Paddy, or whoever you are, you are the one that engaged this site, not the other way round. An article was posted here involving you, an article that is accessible freely on the world wide web. You take ambridge to negative comments made about the article but we're quite chuffed at an unsubstantiated puff piece that was written to idolises you.

Such a child and yet you have managed to (apparently managed to) take out $100,000's in debt.

I think your legal rights would be in the toilet, you posted here and engaged in debate before sooking like a little child and crying foul. Threatening legal action wreaks of a little child who has never been told NO. Are you one of this children Paddy, mummy daddy always gave you what you wanted, maybe a house or two???

Leave the site, stop commenting and the thread will die quickly. No one will think of you ever again, I can assure you.
Edited by Chris, 6 Oct 2014, 04:12 PM.
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Trojan
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Paddy, you have a big target painted on your back just for being successful at propetry investing at such a young age. The jealous bears will attack you endlessly. Note there is an ignore function in this forum.
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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miw
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paddytaskunas
6 Oct 2014, 12:24 PM
I just want my information removed from this site, including any use of my full name.

Thats all... not a huge ask I would've thought.
Once you put yourself out there in the public domain by doing interviews with the press you pretty-much lost the ability to ask for that.

Once upon a time a newspaper interview was the following days' chip wrappings but now they are forever. I wouldn't do one for quids these days.

BTW, assuming you are the real Paddy Taskunas, well done for going out and doing something about what you want to get. It takes some balls and determination. As you have probably worked out for yourself, the only big risks you face are (a) an interest rate spike, (b) long-term unemployment making debt servicing impossible, and (c) a secular downturn in Tassie rents.

(a) is not on the cards for quite a while, I'd say. (b) is unlikely if you stay healthy because you are young - it becomes more and more of a possibility as you pass 40. Since Tasmania has never been and never will be a hotbed of building activity I'd also say (c) is unlikely as well. Watching towns with similar-to-worse demographic trends in Qld, all I see is rents increasing and the rental market getting tighter even as people get older and drift away.

I do hope you take some time and money out to keep investing in yourself though.
Edited by miw, 6 Oct 2014, 05:12 PM.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
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Chris
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miw
6 Oct 2014, 04:59 PM
Assuming you are the real Paddy Taskunas, well done for going out and doing something about what you want to get. It takes some balls and determination.

Miw, I am not saying this is impossible I am just saying it is a lot harder than 'Paddy' has made it out to be. If what he is saying is correct he has essentially achieved it in less than 3 yrs and an offset with 12 months rent for all properties with no insight on how it was actually achieved. You can't go round sprouting how easy it is then give no detail. If he achieved this by living at home with mum and dad who brought his car, clothes, food and paid all his bills then he hasn't actually achieved a thing by himself.

If it works out is he in a good financial position? Shit yeah and he can thank mum and dad but to be claiming he has worked hard and used intellect to buy property he is fooling only himself.

I still maintain the figures don't add up, maybe for one propety but for three there are just to many holes. And there are no green eyes here, if it's true then :tu: , but I call bullshit.
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PropertyAccumulator
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Chris
6 Oct 2014, 06:43 PM
Miw, I am not saying this is impossible I am just saying it is a lot harder than 'Paddy' has made it out to be. If what he is saying is correct he has essentially achieved it in less than 3 yrs and an offset with 12 months rent for all properties with no insight on how it was actually achieved. You can't go round sprouting how easy it is then give no detail. If he achieved this by living at home with mum and dad who brought his car, clothes, food and paid all his bills then he hasn't actually achieved a thing by himself.

If it works out is he in a good financial position? Shit yeah and he can thank mum and dad but to be claiming he has worked hard and used intellect to buy property he is fooling only himself.

I still maintain the figures don't add up, maybe for one propety but for three there are just to many holes. And there are no green eyes here, if it's true then :tu: , but I call bullshit.
Thank you to some of the positive comments being made.

I am the real Patrick Taskunas. And Aimee is not my sister, she is my girlfriend.

We have got 12 months rent for our two properties in an offset (one =15750, the other less.) and some, I don't see how this is impossible? What Maths are you doing?

If you don't believe me, look me up on Twitter or LinkedIn and ask me!

Also, and I note this importantly, mummy and daddy have only ever lent me money at aged 17 for first car, of which I paid back within 6 months. They don't pay my bills or anything.

Ffs. Why keep assuming mummy and daddy have don this not by ourselves?

I don't mind what you guys think of Tassie either. I'm happy with what we have atm, and it will only grow.
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cokatoo56
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Even better than the guy here. I personally bought 5 properties in the past 12 months, with no savings, while watching big brother sitting on the couch. Who beats that ?

seriously, good on him if he makes a fortune from his investment. if not, well, you learn from your mistakes.
What I don't like with that article is the way they present it. They trick naive readers to believe that anyone, with relatively low income, debts, no experience, and investments in any remote area will be rich with property speculation and retire young. That's basically the message they are delivering.
If it was that easy, everyone would be a millionaire in Australia. What do the stats say ? I don't believe they say most Australians are millionaires. The property magazines are full of such stories. Why do I not see any of these guys on the list of the rich young on brw ?
when the bank buys debts, the bank is richer. when you buy debts, that doesn't make you richer. what you have is debts.
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Jimbo
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cokatoo56
7 Oct 2014, 02:09 AM
Even better than the guy here. I personally bought 5 properties in the past 12 months, with no savings, while watching big brother sitting on the couch. Who beats that ?

seriously, good on him if he makes a fortune from his investment. if not, well, you learn from your mistakes.
What I don't like with that article is the way they present it. They trick naive readers to believe that anyone, with relatively low income, debts, no experience, and investments in any remote area will be rich with property speculation and retire young. That's basically the message they are delivering.
If it was that easy, everyone would be a millionaire in Australia. What do the stats say ? I don't believe they say most Australians are millionaires. The property magazines are full of such stories. Why do I not see any of these guys on the list of the rich young on brw ?
when the bank buys debts, the bank is richer. when you buy debts, that doesn't make you richer. what you have is debts.
The big danger with property investment is that it is very easy to get into and banks are falling over eachother to lend money to anyone willing to have a go.

Try going into a bank and asking for a 500k loan to buy shares or trade FX or Gold and they will laugh at you but property is a different matter.

But all investments carry risk. During the up phase of any market, those who sell their assets will see a capital gain but at some point all markets peak and fall back and those who buy at the top, end up losing unless they can afford to hold and ride it out. Leveraged buying increases the risk of not being able to hold when things get tough.

if you look at Mandurah in WA, seven years ago it was one of Australias property hotspots with blocks in some areas fetching prices normally only seen in Perths western suburbs. People piled in to buy land around Ravenswood and Greenfields on the promise of 20% annual growth. I have a friend who paid 550k for a block in 2007 in Ravenswood and built a very impressive 4x2 on it. It is now valued at around 525k so technically he has lost 25k from the land value plus the cost of building the house. He isn't bothered though because he lives there and doesn't intend to sell. However, it goes to show that even in a rising market there are markets within markets that can lose big time.

The point of this is to say that although property investment may seem easy, it actually isn't. As soon as you sign on the dotted line and take ownership, you are at the mercy of the market and unless you understand that market, you risk losing.

Of all markets, property is probably the hardest of all to understand. It requires a huge amount of local knowledge and that can only be gained through experience. I doubt that the average 21 year old would have the requisite experience to be able to judge potential growth in rental returns and capital or to assess potential downside risks.

I doubt further when Patrick states that they hadn't budgeted for council and water 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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PropertyAccumulator
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Jimbo
7 Oct 2014, 03:49 AM
The big danger with property investment is that it is very easy to get into and banks are falling over eachother to lend money to anyone willing to have a go.

Try going into a bank and asking for a 500k loan to buy shares or trade FX or Gold and they will laugh at you but property is a different matter.

But all investments carry risk. During the up phase of any market, those who sell their assets will see a capital gain but at some point all markets peak and fall back and those who buy at the top, end up losing unless they can afford to hold and ride it out. Leveraged buying increases the risk of not being able to hold when things get tough.

if you look at Mandurah in WA, seven years ago it was one of Australias property hotspots with blocks in some areas fetching prices normally only seen in Perths western suburbs. People piled in to buy land around Ravenswood and Greenfields on the promise of 20% annual growth. I have a friend who paid 550k for a block in 2007 in Ravenswood and built a very impressive 4x2 on it. It is now valued at around 525k so technically he has lost 25k from the land value plus the cost of building the house. He isn't bothered though because he lives there and doesn't intend to sell. However, it goes to show that even in a rising market there are markets within markets that can lose big time.

The point of this is to say that although property investment may seem easy, it actually isn't. As soon as you sign on the dotted line and take ownership, you are at the mercy of the market and unless you understand that market, you risk losing.

Of all markets, property is probably the hardest of all to understand. It requires a huge amount of local knowledge and that can only be gained through experience. I doubt that the average 21 year old would have the requisite experience to be able to judge potential growth in rental returns and capital or to assess potential downside risks.

I doubt further when Patrick states that they hadn't budgeted for council and water rates.
For the record the council rates etc was pretty tongue in cheek...
I couldn't answer that question as nothing could I? Imagine the trolls then

To be honest, we haven't had any issues so far at all. But it's only early on, I know things won't go 100% to plan, but that's ok, we have $$ and insurance policies for this.

Tassies market doesn't fluctuate anywhere near as much as the mainland. (Be that because it's "regional" or undesirable or whatever you guys think) we haven't really had a property boom over the last few years like Syd, Perth, Melb.

Like I've stated I'm not in this to make 100k overnight.
We've sacrificed to get what we have, and we will continue to so.
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Jimbo
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paddytaskunas
7 Oct 2014, 12:32 PM
Tassies market doesn't fluctuate anywhere near as much as the mainland. (Be that because it's "regional" or undesirable or whatever you guys think) we haven't really had a property boom over the last few years like Syd, Perth, Melb.

I would have to concede that Tassie is probably the safest place in Australia to invest in property. House prices there seem to be nothing more than build costs on top of a sensible land price. You most likely won't make massive capital gains but you won't be wiped out either.
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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Admin
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Alex Barton
6 Oct 2014, 04:30 AM
Hello Patrick, I will remove text from the first post if requested by the copyright owner (Jennifer Duke), but the thread and subsequent discussion will remain. A better way to deal with negative responses might be to adress them directly as you have been doing in this thread, rather than trying to have the first post deleted.
The original article text has been deleted at the request of Jennifer Duke (Property Observer).
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