Building a $1.6bn property portfolio in 12 months

Discussion in 'Investor Stories & Showcase' started by Blueskies, 26th Mar, 2016.

Join Australia's most dynamic and respected property investment community
  1. Blueskies

    Blueskies Well-Known Member

    Joined:
    24th Aug, 2015
    Posts:
    1,769
    Location:
    Brisbane
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,672
    Location:
    Australia wide
    Amazing!
     
  3. marty998

    marty998 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    627
    Location:
    Sydney
    I keep saying it over and over. Accounting was definitely the wrong career choice for me.
     
  4. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,935
    Location:
    Lower Blue Mountains
    "in an Audi sports car and found quantities of ice, Viagra and ecstasy"

    Yep he's doing it right!

    How do you just "get" that portfolio?? Cash or toys you could say drug business, but surely this must be a massive inheritance of some kind
     
  5. Mustafa Salehi

    Mustafa Salehi Well-Known Member

    Joined:
    17th Nov, 2015
    Posts:
    71
    Location:
    Melbourne
    o_O something doest add up, if it was an inheritance then he would have surely disclosed it
     
  6. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,935
    Location:
    Lower Blue Mountains
    Not if its the mob!
     
  7. Coota9

    Coota9 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,286
    Location:
    Melbourne
    Ice Ice Baby..
     
    Sackie and bob shovel like this.
  8. Blacky

    Blacky Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    2,066
    Location:
    Bali
    If it is funds from some kind of illegal source it will be somewhat embarrassing for the police, ATO and a couple of other govt agencies.

    Blacky
     
  9. DaveM

    DaveM Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    3,761
    Location:
    Adelaide & Sydney
    Sounds like identity theft or inherirtance, there is no way a legitimate carpenters wage could service a 12 billion dollar portfolio.

    Besides, we all know that real property magnates drive Bentley's....
     
    Sackie and Blacky like this.
  10. Raydar

    Raydar Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    305
    Location:
    Newcastle NSW
    Nigerian Prince...obviously.
     
  11. Johnny Cashflow

    Johnny Cashflow Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    919
    Location:
    SA
    Was about to make this thread!

    Will be good to see this story unfold
     
  12. Westminster

    Westminster Tigress at Tiger Developments Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    11,331
    Location:
    Perth
    Totally messing with my mind, trying to work out how/what/why/when

    He's Dr Who isn't he?

    I can't fathom that many 0s in a portfolio. Just mind blowing

    [​IMG]
     
    el caballo and Adele like this.
  13. sanj

    sanj Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    3,461
    Location:
    Perth
    none of it makes sense. if he was a major drug dealer he wouldn't have all that cash and assets in his own name and certainly wouldn't be driving around with drugs. also wouldn't be using a court appointed lawyer.
     
    Tyler Durden likes this.
  14. Tim & Chrissy

    Tim & Chrissy Well-Known Member

    Joined:
    5th Dec, 2015
    Posts:
    1,022
    Location:
    NSW
    The only 'proof' of the $596m bank balance is him logging in to show his solicitor. I'll believe it when the bank/police/court verify the amount.
     
    Terry_w likes this.
  15. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    350
    Location:
    Australia
  16. sash

    sash Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    15,606
    Location:
    Sydney
    Yep.....the question is how did Austrac not pick up the suspicious activity...to have that kind of money in your bank account....lots of money would have to have gone in....that is a lot of coin to go un-noticed.
     
  17. Tim & Chrissy

    Tim & Chrissy Well-Known Member

    Joined:
    5th Dec, 2015
    Posts:
    1,022
    Location:
    NSW
    Welcome!

    Austrac would have reported him to every enforcement agency under the sun if he had that kind of cash!
     
  18. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,672
    Location:
    Australia wide
    There is nothing to go on other than some incidental comments during a bail hearing. No evidence was supplied.

    Austrac would have picked up any money transfers but not account balances. Presumably if he does have a lot of money it was transferred in from somewhere. Just because there are no public statements doesn't mean they are not in the midst of an investigation.
     
  19. Tyler Durden

    Tyler Durden Well-Known Member

    Joined:
    19th Jan, 2016
    Posts:
    350
    Location:
    Australia
    Last edited: 26th Mar, 2016
  20. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,672
    Location:
    Australia wide
    Austrac is just a reporting agency. Its not supposed to have teeth.
     
    Tyler Durden and sanj like this.

Do you need help with investment strategies, don’t want to buy the wrong stocks, or you just need a regular income stream? We provide the research to ensure your investment selections achieve the goals. This is the value of advice.