90 yr old to make $20mil thru shrewd investing

Discussion in 'Investor Stories & Showcase' started by Lizzie, 24th Nov, 2015.

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  1. Lizzie

    Lizzie Well-Known Member

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    Lizzie, 24th Nov, 2015
    #1
    Xenia likes this.
  2. larrylarry

    larrylarry Well-Known Member

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    larrylarry, 24th Nov, 2015
    #2
  3. Lizzie

    Lizzie Well-Known Member

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    ... ah ha - so it is - hiding just like long long long lost uncle ...
     
    Lizzie, 24th Nov, 2015
    #3
  4. TMNT

    TMNT Well-Known Member

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    thatsa great story but you cant take it with you!!!!!
     
    TMNT, 24th Nov, 2015
    #4
  5. SeafordSunshine

    SeafordSunshine Well-Known Member

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    This man bought all the DMR affected houses on Robey St. for very little, good on him!
     
    SeafordSunshine, 24th Nov, 2015
    #5
  6. Bran

    Bran Well-Known Member

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    I made the mistake of posting this on Facebook and got a tirade of 'broken system' etc etc. Talking about investing on Facebook is a mistake. I don't get the resistance to embracing how things are, the best possible predictions, and having a crack.
     
    Bran, 24th Nov, 2015
    #6
  7. Sonamic

    Sonamic Well-Known Member

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    Good on him. Now who on PC is going to snap up that bargain?
     
    Sonamic, 24th Nov, 2015
    #7
  8. moyjos

    moyjos Well-Known Member

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    I would hazard at a guess that these blocks are not his only property investments :cool:

    Would love to hear the story of this very shrewd business man. To have the availability and foresight to be able to "snap up" all the DMR affected houses, he must have had some dollars (pounds) behind him. Remember in those days banks demanded a 30% deposit for all loans.
     
    moyjos, 24th Nov, 2015
    #8
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  9. hobo

    hobo Well-Known Member

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    Excuse my ignorance, but what is "DMR affected"...?
     
    hobo, 24th Nov, 2015
    #9
  10. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Challenge here is that part if our growth comes from those we associate with.

    "Lucky" for most of us that the majority of our face book friends are just associates .............

    ta
    rolf
     
    Rolf Latham, 25th Nov, 2015
    #10
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  11. Gockie

    Gockie Life is good ☺️ Premium Member

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    I have some investing friends on facebook...
    but I would not post something about property investing to the general community except my Airbnb successes (and the very occasional related whinge... e.g. my last guests at West Ryde consumed all the food, pretty much cleared out my pantry, took a FULL bottle of shampoo.... but worst of all.... took all the toilet paper. Like 10 rolls! I had to go and buy more. I was not impressed about that).

    (Note... I ended up requesting an extra $15 for that usage... that guest was a first time Airbnb user... he booked for his new inlaws and sister... I believe they are Chinese*.... anyway... the guest paid it. I wrote that I wouldn't mention it in my review but for him to please be mindful of the host in future! :) )

    Anyway... back to normal property investing... if I posted something on FB, my mother would comment, "Lynn, you have enough" rah rah rah.....
    and start a big Facebook fight/argument with me.... why the hell would you do that to your daughter?
    (Which is why I dont have my parents as facebook friends.... bloody comments!!)

    *i'm Chinese too....
     
    Last edited: 25th Nov, 2015
    Gockie, 25th Nov, 2015
    #11
  12. moyjos

    moyjos Well-Known Member

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    Department of Main Roads.. So I am guessing these homes were resumed for a hwy that never happened then sold back to the general market, whereby he "snapped them up".

    Anybody in the area like to comment if this may have been the case?
     
    moyjos, 25th Nov, 2015
    #12
    hobo likes this.
  13. wylie

    wylie Moderator Staff Member

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    Hubby's first house was in a street where all houses had been resumed to allow a bridge to be built. That was scrapped and houses sold back to the market. I recall at the time thinking how annoyed I would be to have my house compulsorily taken from me, move my family and all for nothing... to have someone else buy it a few years later.
     
    wylie, 25th Nov, 2015
    #13
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  14. moyjos

    moyjos Well-Known Member

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    Happened to our family back in 1976. Brissy people may remember the compulsory resumptions that saw the demise of Cribb Island to build the new airport.

    Part of that grand plan was also a resumption of houses along Breakfast Creek road through Newstead to widen the road.

    My parents had a shop and we lived in the house behind ( next to the Newstead Police Station) Sadly, the house and shop were leased, so Mum and Dad lost it all....no house, no business and no cash for the property and two primary school aged kids.. I am sure it was an extremely stressful time.

    Our shop and house has gone now, but the house the copshop was in is still there looking exactly as it was. (See attached pic) Oh!! and road has not been widened.

    We moved to the suburbs and Mum and Dad got regular jobs.
     

    Attached Files:

    moyjos, 25th Nov, 2015
    #14
  15. SeafordSunshine

    SeafordSunshine Well-Known Member

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    No, they were houses that the DMR Marked , 'Wanted for their purposes' (road widening).
    They weren't bought by the DMR, They were bought by the investor. They lost their value, and buying them was a gamble. In this case a clever one!
     
    SeafordSunshine, 25th Nov, 2015
    #15
  16. Scott No Mates

    Scott No Mates Well-Known Member

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    I
    It would then depend on whether the RWO and caveat have been removed.

    I did one of these recently - needed concurrence from RMS & council.
     
    Scott No Mates, 25th Nov, 2015
    #16
    SeafordSunshine likes this.
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