Most people ..... Who should you listen too ?

Discussion in 'Investor Psychology & Mindset' started by See Change, 21st Jun, 2015.

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  1. Angel

    Angel Well-Known Member

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    It shows that these residents cant afford the cost of living and may sell their homes in the near future.
     
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  2. Investig8

    Investig8 Well-Known Member

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    Absolute rubbish, jump on it's head, tackle it's legs, drown it until it drinks, where's your commitment Rick. :p

    Historically bones outlast property and have a better maintenance program. :D

    Bloody hell Peter, always bringing rationale and sensibility back to the table, damn it!

    I believe you get to an age whereby you should be responsible enough to heed advice and still do enough of your own due diligence and research (self educate) to take full responsibility for whatever it is in life you choose to do, particularly if you are of semi sound mind and judgement to spend your own money whether or not it's a $5 latte, $10,000 vehicle or a million dollar property.

    Now if I was in a post competition I would have separated this into 3 or 4 posts, take that! ;)

    It's time now for me to go say "hello and welcome" to the next 50 newbies! :D
     
  3. See Change

    See Change Well-Known Member

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    Rix

    You've got a lot of posts to do to get to the head of the posts queue , though you're streaking it in the likes list .

    What was that old saying ... Empty vessels make most noise :eek:

    Cliff
     
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  4. wombat777

    wombat777 Well-Known Member

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    It's also a good indicator where mortgage stress may lie.

    Kellyville has a bit of a chequered history. At the time of the GFC there were a large number of homeowners in kellyville that could not afford their repayments.

    http://m.dailytelegraph.com.au/depression-of-home-repossession/story-e6freuy9-1111115977438

    There was an infamous street where a number of houses ( perhaps 8 or more ) were repossessed by the banks.
     
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  5. Tekoz

    Tekoz Well-Known Member

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    I see Womby,
    it does make sense that way. So it seems that Sydney West suburbs was the Sydney's mortgage belt during the GFC high interest rate.
     
  6. The_good_life

    The_good_life Well-Known Member

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    I do think the demographics in Sydney west, especially north west has changed massively in the last 5 years or so. It has moved from a predominately blue collar area to a good mix of blue and white now.

    I personally know of a number of people (young families) who have sold up their smaller closer to the city residences and bought bigger plots "out west" with much smaller loans. I really don't think this part ( especially the Hills) will see a similar impact to the Seymour street sales in Kellyville from 2005../06?
     
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  7. SeafordSunshine

    SeafordSunshine Well-Known Member

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    Dear John Henry,
    could I suggest you consider looking at infrastructure?
    that will give you a better idea about whether it is a sustainable investment?
    Have a few plans
    1. Tax plan
    2. Exit plan
    3.Mangement plan,
    4.Marketing plan.
    5.Time plan.
    sometimes it all comes together and sometimes it is all a big risk,
    you also need to consider your sleep at night factor (possibly the most important plan?)
    Cheers
    I hope this helps
     
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  8. Tekoz

    Tekoz Well-Known Member

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    @SeafordSunshine many thanks for the suggestion, I'll take that into account.
     
  9. sash

    sash Well-Known Member

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    I didn't realise that there was a empty vessel competition on Somersoft going on....doc what is the medical possibility that if I release enough flatulence...that I will win the empty vessel competition?:D:p

     
  10. See Change

    See Change Well-Known Member

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    If you release enough flatulance , you decrease the resonating ability of your abdominal cavity so you make less noise ... That is apart from the volume of noise generated by the release of said previously mentioned flatulance , which in your case could be considerable ....... :confused: Just give everyone some warning so we can stand up wind .

    I think the empty vessel comp leader ( if there was a comp ) is coming up to the finishing post while the rest of the field haven't entered the final straight :eek:

    Cliff
     
    Last edited: 30th Jun, 2015
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  11. wombat777

    wombat777 Well-Known Member

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    Keeping the discussion on the current diversion to the topic ...

     
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  12. sash

    sash Well-Known Member

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    Bwaaahaaaa......haaaa..heeee........that can rival some of ****** on the forum!!

    Hilarious...it made me cry with laughter....

     
  13. See Change

    See Change Well-Known Member

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    that's impressive , though I was probably expecting a baritone , not a soprano .

    Cliff
     
  14. Rixter

    Rixter Well-Known Member

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    Slow and steady wins the race. :)
     
  15. Bran

    Bran Well-Known Member

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    Baa ha ha ha

    I was dead certain that I would be underwhelmed before I clicked. But that was hilarious.
     
  16. Seal

    Seal Well-Known Member

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    I am a new investor. and wanting to buy my first investment property. I have been reading this really helpful property chat and a book too. But I'm still a novice. What books would you suggest to read initially to work out the solid foundations?

    Thanks
     
  17. C-mac

    C-mac Well-Known Member

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    Hi Seal, if you havent yet developed an investment strategy, I'd focus on titles that prpvide overviews of the main property investment strategies worth considering, as a first step. Personally I love the olded books by Jan Somers as a good start.

    Though her books end up focusing on one major investment strategy she ultimately selects, Jan does give some insights into other strategies too.

    That said, her early books are a bit dated now, so you should also consider some more modern texts too :)
     
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  18. Seal

    Seal Well-Known Member

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    Hi C-Mac
    Thanks heaps for this. Really appreciate it.
    I have had a look around and it looks like her latest book 'more wealth from residential property' is the place to kick off. I'll get it now.

    Any other more recent books that would be good to follow up on?
     
  19. willair

    willair Well-Known Member Premium Member

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    This book was from the mid 1990's,when much the same as today only the interest rates were all above 10%,unemployment was different, but only in numbers,anyone that read this book back the same as the simple but powerful books of Jan Somers would have done well if they followed the plan to suit yourself, I have a signed copy of this book and it's one of the most powerfull investment non soapbox books I have ever read in my old new book collection,.imho..

    http://www.amazon.com/How-Start-Savings-Rich-safely/dp/0646178660

    http://catalogue.nla.gov.au/Record/...gs and Get Rich...safely)&offset=1&max=191185
     
    Last edited: 11th Jul, 2015
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  20. C-mac

    C-mac Well-Known Member

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    Early on, i bought a great read by Peter Cerexhe called 'Smarter Property Investment'. A good 101 on getting set up and covers some of those initial pitfall risks :)
     
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