Building a $1.6bn property portfolio in 12 months

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

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  1. Tyler Durden

    Tyler Durden Well-Known Member

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    Amended then :p
     
    Tyler Durden, 26th Mar, 2016
    #21
  2. sanj

    sanj Well-Known Member Premium Member

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    I haven't seen any proof that austrac is inefficient and like terry said above its meant to report not prosecute.

    FIRB practices could of course be improved but they do a decent job. have you seen what they make foreign investors for say farming land or large businesses go through? they've also been getting on top of the problem of foreign citizens buying existing properties.

    a lot of the flow of overseas capital into property in australia is in the form of large scale commercisl property investments and individuals buying OTP properties. both are legal
     
    sanj, 26th Mar, 2016
    #22
  3. Tyler Durden

    Tyler Durden Well-Known Member

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    The system must be failing somewhere, far too many questions are being asked...

    Chinese investors flooding billions into the Australian real estate market prompt money laundering fears - ABC News (Australian Broadcasting Corporation)
     
    Last edited: 26th Mar, 2016
    Tyler Durden, 26th Mar, 2016
    #23
  4. TMNT

    TMNT Well-Known Member

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    Is the portfolio positive or negative
     
    TMNT, 26th Mar, 2016
    #24
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  5. bob shovel

    bob shovel Well-Known Member

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    Whats his strategy?
     
    bob shovel, 26th Mar, 2016
    #25
  6. bob shovel

    bob shovel Well-Known Member

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    Could he may be some low level bikie "knob" that hasn't got a record (yet) transferring assets around for some reason?laundering??
     
    bob shovel, 26th Mar, 2016
    #26
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  7. Coota9

    Coota9 Well-Known Member

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    Stay out of jail..keep a low profile..FAIL!!
     
    Coota9, 26th Mar, 2016
    #27
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  8. keithj

    keithj Well-Known Member

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    Google Fake-A-Bank Account. There are web sites out there that let you pretend to have any amount you like in your account.
     
    keithj, 26th Mar, 2016
    #28
    Terry_w, el caballo, bob shovel and 1 other person like this.
  9. bob shovel

    bob shovel Well-Known Member

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    If only this was around back in my day! ;)
     
    bob shovel, 26th Mar, 2016
    #29
  10. Coota9

    Coota9 Well-Known Member

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    Who needs 3rd tier lenders..Have finally found my way around APRA lending changes:D
     
    Coota9, 26th Mar, 2016
    #30
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  11. Hodor

    Hodor Well-Known Member

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    Hope it is not middle of the road resi stuff. Managing 30,000+ properties is not my idea of fun, might explain why he needs some supplements to keep up
     
    Hodor, 26th Mar, 2016
    #31
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  12. Skilled_Migrant

    Skilled_Migrant Well-Known Member

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    Skilled_Migrant, 26th Mar, 2016
    #32
  13. Scott No Mates

    Scott No Mates Well-Known Member

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    Why would anyone think there was anything sus about this guy?
    • He doesn't hold a building/trade licences in Qld Search
    • He's got cash in the bank (no builder has cash on hand)
    • Used a court appointed solicitor (how did he qualify for legal aid)?
    • Sounds delusional (calling in mental health department)
    • Unable to disclose where the money has come from (doesn't have a story to spin)
     
    Scott No Mates, 26th Mar, 2016
    #33
  14. datto

    datto Well-Known Member

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    Wonder if tax has been paid, lodged tax returns etc. If not, then the govt is in for a nice dividend!
     
    datto, 26th Mar, 2016
    #34
  15. Skilled_Migrant

    Skilled_Migrant Well-Known Member

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    (Tradie = trader ) selling apps overseas, claims the lawyer was delusional:

    Outside court, Harrison told the ABC that his lawyer misunderstood his instructions, which were that he had $1.2 million in property, not billion.

    "My lawyer was delusional, I told him not to say it, duty solicitor not very good," he said.

    Harrison said he made his money from shares and overseas sources, not drugs.

    "How would I make billions in drugs without being caught? My investments, my ideas in cars, apps, trade, I sold them overseas, have been for years," he said.
     
    Skilled_Migrant, 26th Mar, 2016
    #35
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  16. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Moral of story: don't get a court appointed lawyer
     
    Westminster, 26th Mar, 2016
    #36
  17. bob shovel

    bob shovel Well-Known Member

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    Why let the truth get in the way of a good story!
     
    bob shovel, 26th Mar, 2016
    #37
  18. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Last edited: 26th Mar, 2016
    Westminster, 26th Mar, 2016
    #38
  19. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    So the solicitor added a few 0's to the portfolio.

    The $596,000,000 in the bank may actually be $590,000 or even $590.
     
    Tim & Chrissy, 27th Mar, 2016
    #39
  20. aussieshorter

    aussieshorter Well-Known Member

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    My first thought was that I'd find it hard to believe someone with $596M in the bank wouldn't have their own lawyer.
     
    aussieshorter, 27th Mar, 2016
    #40
    datto likes this.
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