WA Properties in Mining Towns

Discussion in 'Where to Buy' started by MTR, 28th Oct, 2015.

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  1. Kate Moloney

    Kate Moloney Well-Known Member

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    Lucky you!
     
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  2. WattleIdo

    WattleIdo midas touch

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    Just wondering - was your strategy to sell onto somebody else before the inevitable crash and leave them holding the baby? I wonder how that sits with you while meditating?
     
  3. Kate Moloney

    Kate Moloney Well-Known Member

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    @WattleIdo , with respect , if your comment is in jest I am happy to answer it.
    If its not, I'd prefer not to engage in this conversation. I have seen some other comments of yours, and I hope that in this case I have misread your intentions.
     
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  4. Sackie

    Sackie Well-Known Member

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    Getting in and getting out of markets after doing well is all part of investment. There is nothing wrong with it in my opinion. Its no different to many, many people selling their propeties at the peak of any market to emotional buyers etc to make the best profits. If you can get the timing right It's smart and logical investing imo.
     
    Last edited: 28th Dec, 2015
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  5. Kate Moloney

    Kate Moloney Well-Known Member

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    Very few people understand the full picture of what happened in mining, particularly moranbah. There are so many varying issues. Its very easy for people to speculate, even so-called experts have opinions about it, but some are so far off the mark its not funny. We've had the unique opportunity to live in it before, during and after the boom. Statistics paint a picture that don't tell the full story.
     
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  6. WattleIdo

    WattleIdo midas touch

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    It's a genuine question. However I respect your statement that you don't wish to engage. I'm sorry to see that you have misunderstood me. Nevertheless, there is an elephant in the room, isn't there.
     
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  7. Barny

    Barny Well-Known Member

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    Kate May I ask without being a prick.
    What was the strategy with mining town purchases? When do you sell out, how long were you gonna hold for, what were your mentors at the time advising you to do? Were you worried at the time when you had purchased them.
    What do you know now, that you never new prior when you were buying and doing well at the time?

    Cheers
     
    Last edited by a moderator: 30th Dec, 2015
  8. 158

    158 Well-Known Member

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    I wouldn't be sorry. Asking probing and the hard questions to get to understand a situation is legitimate.

    @WattleIdo and I have had some stouches in the past, but only because we both ask the hard questions. I respect that.

    pinkboy
     
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  9. Kate Moloney

    Kate Moloney Well-Known Member

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    Hi Barny, Lol your not being a prick, you are asking a question in a respectful manner, which I am happy to answer. We still have our properties (and the whooping loss that goes with it).

    We were buy and hold investors, with aim of holding for 5-7 years. Started building some units in the backyards, with the aim of selling them down to pay down the debts on the remaining mining properties (reduce risk). Boom and bust happened too quickly for any of those plans to come into fruition.

    I won't go into the other questions because theres a long story behind it which I share in the book.
     
  10. Kate Moloney

    Kate Moloney Well-Known Member

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    I don't mind questions, but if people talk to me in a manner that I perceive as disrespectful, I will call them out on it. It can be hard to understand peoples tone, which is why I will ask first. If its intentional, I won't engage in it.
     
  11. 158

    158 Well-Known Member

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    If you're a bit precious, a public forum isn't for you.

    Feel free to answer some and not all questions, that's your right - but it does raise further probing questions if you cherry pick what you want to answer.

    Don't worry, I'm personally not unaffected by the same market as you - except I don't have property in these town, just clients. So I know very well what you're up against.

    pinkboy
     
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  12. Barny

    Barny Well-Known Member

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    Ok cheers, hurry up and finish book
     
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  13. WattleIdo

    WattleIdo midas touch

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    I think I'll leave you to work things out for yourself, however long that takes. You are lucid in some areas and then surprisingly a bit precious considering what's happened. Perhaps you are more fragile than it would appear. All the best to you I hope things turn around. Keepaiming to see things as they really are and I'm sure it will happen. Beware people with no morals and get off that track as soon as you can. Cheers.
     
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  14. Sackie

    Sackie Well-Known Member

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    @
    How is wanting to be treated with a little respect when being asked a question being 'precious'?

    We are all entitled to being treated in a respectful manner. Some people just ask questions loaded with ill intentions.
     
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  15. Kate Moloney

    Kate Moloney Well-Known Member

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    X
    @pinkboy I'm just clear about how I want to be treated. Its my life, my choice who I engage with and how I allow myself to be treated. Its not about being precious, its called having self respect, which is much more powerful than being a people pleaser and saying nothing.

    I'm sure in your own life there is behaviour you will and will not tolerate?
     
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  16. 158

    158 Well-Known Member

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    It isn't, however if the default answer is always 'wait for the book', then you'll find the 'ill intention' is a 2 way street.

    pinkboy
     
  17. Angel

    Angel Well-Known Member

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    To change the topic back again, I got a text from my broker with some numbers on it. I don't like the one that says we can get out of this pickle IF we reduce our monthly costs to $2500. Like WT?

    We could write anything on the application if we chose to, but I have to be realistic as well. One part of me is waiting for the call and the other part is scared as hell.

    Sash, my rates at G'stone are $3000 pa and insurance is about 1900. That's $5k a year to watch grass grow.
     
  18. MTR

    MTR Well-Known Member

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    That's exactly what happens in the property game today/now, smart investors offloading now because markets are changing. Should I feel bad that property cycle has changed and they may end up with a property that will be worth less than purchase price in 5 months time??

    I am in it to make money, I am not doing anything illegal and like everything if I buy property I have to do my homework and work out whether it stacks up etc. I wont be blaming the seller if I got it wrong, I will be blaming myself.

    MTR:)
     
  19. Sackie

    Sackie Well-Known Member

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    In all honesty, it crossed my mind, but personally i dont think she is ill intentioned at all.
     
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  20. Kate Moloney

    Kate Moloney Well-Known Member

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    Disagree - some things take tens of thousands of words to explain and even that wouldn't come close to living in someone else's foot steps.
     
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