'Property girl' on the defensive

Really? Nice one. It would be interesting to see if she replies. She's pretty famous now!

 

www.steploans.com.au

i didnt say a whole lot, just asked about the business broking side and that there's a bit of excitement in the media.
i originally saw facebook comments and she copped a hammering, albeit mostly uneducated fools there were obvious holes in the article... which is quite common for news.com.au! so i sided with her basefd on where the story came from!
but.... on her linkedin profile does have the key position inquestion.... and her title is "advisor" but no great detail, it could have been advising stationary supplies or perhaps WMD's??

 

Yeah, I assume some people getting a bit defensive and negative read some of that stuff and have it in mind while posting here. I didn't see any of it.

 

I love spruikers who talk of $3m portfolio's and overlook the issue of a debt of $2.7m
Reality is they have $300K equity highly leveraged at a ratio of 10:1

Its like playing roulette and choosing red nine times in a row and expecting it to be red the 10th time. And if you get it wrong you can go home....You never hear that in a spruiker seminar.

 

That's a pretty good analogy Paul.

 

It depends on how it's done . At what time of the property cycle .

What appears risky to some is in reality a well thought out strategy .

There are several 30 something's on the forum who would have been close to that at some stage or even now . If it's well executed , with a doubling of the market . That 300 k equity ends up as 3,300,000 within a few years .

We haven't been as aggressive as that , but have had a similar change in our equity over the last cycle , with more to come .

Cliff

 

i believe one example, possibly only one in print was a unit purchased 368k now valued 500k

 

Having worked as a staffer myself I could take a guess and say that she was working in the Electorate Office dealing with all the crazy people who go to see their local MP, writing correspondence, data entry, editing pro-forma media releases, and if her boss was good to her she would have ran around Parliament pretending she is important and maybe attended a few briefings on legislation (a good boss will make sure their young staff are getting some sort of apprenticeship with them and doing more than just admin).

It's a job that young people do as there isn't much job security working for an MP, little room for advancement (The coalition doesn't pre-select staffers that often, unlike the ALP) and it doesn't really pay that well (unless you're 20, then it pays awesome)

This was my experience, I'm a teacher now.

Beelzebub

 

@Beelzebub Thanks for the insight, awesome.
In that kind've situation, do you think it's appropriate for the position title to be Policy Advisor? Sounds like a pretty senior position. Could you tell us what level that might be equivalent to eg. AO6?

 

You talk to your boss and make up your title, I was an electorate adviser. It doesn't matter what function you actually serve you are officially employed as an electorate officer (Unless you're in the Minister's office). Most staffers don't work for the public service they work for the Parliament, so they are paid on a different scale. Ministerial staff are different.

You can serve the Minister in three capacities, as a public servant; as a Ministerial Staffer, who help the Minister tell the public servants what to do and advise on governing the country; or as an Electorate Officer who help the Minister carry out his functions as a Member of Parliament. If you're in Opposition you only get your electorate staff, and you get five of them, so she would have been doing some things that as a 20 year old might shock you, but a shadow minister only has the budget for five staff, and they are not high paying jobs, someone has to do the leg work... they also get lots of volunteers and interns to fill the void.

Policy adviser is fine and is a common title. If working for the Parliament you either call yourself electorate officer (which is what you're employed as), electorate adviser or policy adviser, if you've been around a while the boss might let you put 'senior' in front of your title. The idea behind the change is to make it clear to the public that you work for a politician and not the Electoral Commission, some people do get confused, it made your job easier to call yourself something different.

As an example of how irrelevant titles are, there was a girl in my office who had the title and served the function of an executive assistant, she had been with my boss for a while so she was the highest paid member of staff, she earn't about 30k more than me, even though I had the fancy sounding title.

The important sounding titles also mean that the crazy people who wanted to talk to your boss could be satisfied in thinking they were talking to someone important.

Happy to answer any questions on how it all works

 

wow great insight!
do you need fancy degrees or can anyone jump in? it would be an interesting world, is it like a council job or do you actually produce results and get stuff done?
id like to get involved but i wouldnt last, i tend to tell it as it is

 

Just what we need .... Another broker.


(I joke, I joke)

 

You don't need any degrees, though most people have them. You generally need to be a member of the party to get a job (Note the girl was a member of the Young Libs). Which makes sense, you need loyalty as an MP.

Unless you're an MP your ability to do anything or make a difference is pretty limited.

And yes, you should definitely get involved. Both major parties rank and file tend to be filled with your very vocal politically opinionated crazy uncle type of people. People under the age of 70, with intelligence and success are very highly regarded and welcome within either of the party structures.

 

interesting! now that info puts more on my plate to look into!
what made you leave or would you go back?
might need a seperate thread. its another world that people have very little understanding but yet decisions are made that affect us everyday and our future!

 

You won't hear me complain about going off topic, go to town, I'm interested too.

 

Was that an oops I just heard from some posters?

 

Some light reading on a Saturday morning,far to say she gets a bake from Scotty Pape!!

 

No riskier than many people on this forum.

Just to confirm, all those rubbishing her achievements so far definitely had way more than 500k equity at 24 and had started more businesses too right?

 

How ironic, Scott Pape and Homer Simpson on the same page. The usefulness of what they're saying is about the same.

This is a fairly cheap shot from Scott. I suspect he could write this article based on almost any interview he does with most property investors. I really like this part:
"Brennan's strategy, on the other hand, is like that of a lot of people who buy high rent returning properties, hold them for a year, get the bank to revalue them and use the equity to borrow more money."

It seems to me that this is the strategy of just about everyone on this forum in the last 8 years. This is what every property investor does during their accumulation phase, and in your early 20's, you're definitely in your accumulation phase. @coota: https://propertychat.com.au/community/threads/hi-from-coota9.189/ - same strategy.

Very few property investors can tell you what the average yield of their portfolio is (I can't of the top of my head, but I can figure it out in a few minutes with a calculator, the article suggests that Brennan can as well). Her equity figure is rightly based on bank revaluations, yet Scott implies that this is a bad thing?

Yes, she's young, clearly she doesn't have the experience to know everything about what she's doing but nobody does when they're starting out regardless of how many properties they have.

Interestingly Scott's never said how his great grandfather retired using his work hard and pay down debt mentality. It's a good safe way to live, he probably owned his own home and retired off a government pension.

 

Just like playing Russian roulette with a semi-auto fully loaded ,the outcome is predetermined,but for a young "Lady" and with red hair I hope it goes to plan..