7:30 Report - 71 YO Nurse with 11 WA Investment Properties on IO

Discussion in 'Property Market Economics' started by Pete Arendt, 12th Mar, 2018.

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  1. Pete Arendt

    Pete Arendt Well-Known Member

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    Anyone catch this one on the 7:30 report tonight?
    Interest-only home loans under scrutiny

    71 Year Old Nurse still working to pay off her 11 Western Australian Investment Properties.

    P&N has already reposed two IPs.
     
    Pete Arendt, 12th Mar, 2018
    #1
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  2. Lacrim

    Lacrim Well-Known Member

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    Very sad but people can't blame the banks. These people know what they were doing (wanting).

    If it all turned to **** for me and my portfolio, the fault is noone else's but mine. Not the banks, not the brokers I've used...MY FAULT, MY RESPONSIBILITY.
     
    Lacrim, 12th Mar, 2018
    #2
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  3. pully

    pully Well-Known Member

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    yes a sad situation for her and sounds as if she has minimal equity in the properties, and her home is at risk.
    wonder how long she held the properties and accumulated the debts? sad.
     
    pully, 12th Mar, 2018
    #3
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  4. pully

    pully Well-Known Member

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    totally agree.
     
    pully, 12th Mar, 2018
    #4
  5. Eric Wu

    Eric Wu Well-Known Member

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    well, what can we say. facts can be picked and chosen to suit different purpose for the media.

    feel sorry for the nurse,
     
    Eric Wu, 12th Mar, 2018
    #5
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  6. DaveM

    DaveM Well-Known Member

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    Media 101

    On the way up "I have all these properties and heaps of equity I am an amazing astute investor with all the money making skills and investor awards"

    On the way down "Its all the banks/brokers/real estate agents fault who can I sue and blame"

    This sounds familiar..
     
    DaveM, 12th Mar, 2018
    #6
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  7. alien07

    alien07 Member

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    Wonder which spruiker 'Made' her.
     
    alien07, 12th Mar, 2018
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  8. TMNT

    TMNT Well-Known Member

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    And if the properties had gone up in value she'd be considered a "gun investor granny"
     
    TMNT, 12th Mar, 2018
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  9. Blueskies

    Blueskies Well-Known Member

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    Tuned out at the point where she started nitpicking faults in her mortgage application for property 11. Sorry, if you get to that many properties, you know what you are signing up for. It's a crap position she is in but there is only one person she can blame.
     
    Blueskies, 12th Mar, 2018
    #9
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  10. Pete Arendt

    Pete Arendt Well-Known Member

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    Can anyone identify her ('The Spruiker')? Doesn't look like Nathan Birch!

    Spruiker.png
     
    Pete Arendt, 12th Mar, 2018
    #10
  11. alien07

    alien07 Member

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    I thought it was on the few frames before that? :p
     
    alien07, 12th Mar, 2018
    #11
  12. TMNT

    TMNT Well-Known Member

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    Exactly.

    If I go. Bankrupt. I'll go cry in my room

    And if the properties quadruple, I'm going to be enjoying every bit of it

    [​IMG]
     
    Last edited: 12th Mar, 2018
    TMNT, 12th Mar, 2018
    #12
  13. pully

    pully Well-Known Member

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    sounds as if the values declined and vacancies impacted her situation. she took on too much debt and for too long.
     
    pully, 12th Mar, 2018
    #13
  14. alien07

    alien07 Member

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    Now that you mention, looks like him with long hair no?
     
    alien07, 12th Mar, 2018
    #14
  15. Pete Arendt

    Pete Arendt Well-Known Member

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    Last edited: 12th Mar, 2018
    Pete Arendt, 12th Mar, 2018
    #15
  16. HUGH72

    HUGH72 Well-Known Member

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    It’s Margaret Lomas, she is hardly a spruiker and certainly wouldn’t recommend investing in a mining town in remote WA.
     
    HUGH72, 12th Mar, 2018
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  17. qak

    qak Well-Known Member

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    Multiple identities???
     
    qak, 12th Mar, 2018
    #17
  18. Bendigus

    Bendigus Well-Known Member

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    Bendigus, 12th Mar, 2018
    #18
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  19. TMNT

    TMNT Well-Known Member

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    What age did this granny accumulate her properties. And where were they?
     
    TMNT, 12th Mar, 2018
    #19
  20. HUGH72

    HUGH72 Well-Known Member

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    No, it's Margaret Lomas.
     
    HUGH72, 12th Mar, 2018
    #20
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