Will we see disorderly rush to the exit as Birch screams SELL SELL SELL
"Mr Birch told news.com.au he was looking to offload up to 20 properties. If all goes to plan, he estimates he will reduce his debt to about $18 million, with a $50 million portfolio and a “big chunk of cash”...“I’m feeling it, the developers are feeling it, the people that haven’t felt it yet are all those properties that are yet to settle, the big Meriton units." ...“I want to keep moving in a market where almost every investor is stuck in quick sand — even if that means selling. For years now I have been channelling equity into deposits for new properties, but it’s no secret that equity is very hard to release these days — even if you have millions of dollars of it!”
Mr Birch advised his clients to follow suit...you could sell down half of your properties, clear your debt and enjoy a passive cash flow. Alternatively, you could use that cash to buy some land, build a house on it, sell it off and make $200,000 to $300,000 each time. Then just rinse and repeat. Either way this can get your portfolio moving again .”
"With this much skin on the table, it’s important to get it right! Keep an eye out for my next update where I will share my tips for getting the most out of selling a property.
After his little fire sale, he'll still be carrying 36% debt.
I honestly don't understand how banks can give unsophisticated 'investors' such huge amounts of money like this and pretend to have prudential lending standards.
Ponzi economics!
WHAT WOULD EDDIE DO? MAAAATE! Share a cot with Milton?
After his little fire sale, he'll still be carrying 36% debt.
I honestly don't understand how banks can give unsophisticated 'investors' such huge amounts of money like this and pretend to have prudential lending standards.
Ponzi economics!
Who needs Prudential Lending standards as Booms run forever and House Prices could never fall and more importantly we won't be here if anything goes wrong.
I'm sure that's what they all told themselves before the Sub Prime blow up.
Who needs Prudential Lending standards as Booms run forever and House Prices could never fall and more importantly we won't be here if anything goes wrong.
I'm sure that's what they all told themselves before the Sub Prime blow up.
No different here.......
I'll give him credit for one thing; he got out there in public and said it. A lot of people would've quietly offloaded their holdings first and then made an announcement. That's how people like George Soros work. The strategy he pulled last year was he buys up gold miners, announces he's into gold miners, rides the wave, sells his holdings and then announces he's sold. Basically insider trading his own name. Not illegal technically but very shabby.
I'll give him credit for one thing; he got out there in public and said it. A lot of people would've quietly offloaded their holdings first and then made an announcement. That's how people like George Soros work. The strategy he pulled last year was he buys up gold miners, announces he's into gold miners, rides the wave, sells his holdings and then announces he's sold. Basically insider trading his own name. Not illegal technically but very shabby.
I Agree.
The Problem with guys like Soros and other Large Traders is they move markets if they place Large Buy or Sell orders at one time.
So they are Forced to scale in and out of positions which takes time. After they have accumulated enough of a position they can announce their holdings.
Or even Better......Get News agencies to issue Bearish News to flush out the weak hands and sell to you at ever lower prices so you can accumulate your position for the expectant Rally or trend change..
This shits as old as the Hills.
Here's a tip if Bearish News comes out and the Market doesn't move lower then somethings wrong..........Smart money is accumulating and the same Bullish news vice versa.
After his little fire sale, he'll still be carrying 36% debt.
I honestly don't understand how banks can give unsophisticated 'investors' such huge amounts of money like this and pretend to have prudential lending standards.
Ponzi economics!
He's carrying 36% debt on a 55 million dollar portfolio.
Will we see disorderly rush to the exit as Birch screams SELL SELL SELL
"Mr Birch told news.com.au he was looking to offload up to 20 properties. If all goes to plan, he estimates he will reduce his debt to about $18 million, with a $50 million portfolio and a “big chunk of cash”...“I’m feeling it, the developers are feeling it, the people that haven’t felt it yet are all those properties that are yet to settle, the big Meriton units." ...“I want to keep moving in a market where almost every investor is stuck in quick sand — even if that means selling. For years now I have been channelling equity into deposits for new properties, but it’s no secret that equity is very hard to release these days — even if you have millions of dollars of it!”
Mr Birch advised his clients to follow suit...you could sell down half of your properties, clear your debt and enjoy a passive cash flow. Alternatively, you could use that cash to buy some land, build a house on it, sell it off and make $200,000 to $300,000 each time. Then just rinse and repeat. Either way this can get your portfolio moving again .”
"With this much skin on the table, it’s important to get it right! Keep an eye out for my next update where I will share my tips for getting the most out of selling a property.
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