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Public opinion of property investors. (Tony Flemings 13 Properties at 28)

Discussion in 'General Property Chat' started by TaylorTako, 12th Oct, 2016.

  1. TaylorTako

    TaylorTako Member

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    I've been reading some of the comments made on Social Media & News outlets regarding the 13 properties @Tony Fleming has accumulated. For a deeper look at some of the comments:

    Tony-Fleming-28-purchased-13-properties

    I think it's quite sad that society looks at property investment in this light. I think this is an amazing achievement and should be celebrated and congratulated...

    I'd be interested to hear if anyone else on this forum have felt this kind of public backlash regarding their investment journey.
    Do majority of people look at property investing, using leveraging and generating passive income as "parasites"? or is it just pure jealousy that a kid half their age have achieved more than they ever could?

    Do you believe that the comments they're making have any merit? ie "Wait till the interest rates increase, he'll be bankrupt!", "He doesn't own those properties, the banks do!".

    Love to hear some thoughts from you all!
     
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  2. wombat777

    wombat777 Well-Known Member Premium Member

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    I've heard/read negative comments on Facebook. Not specifically directed at me but from people with a bit of a jealous mindset. People are generally happy for me but some a little jealous.

    I've posted along these lines before but for each IP I have purchased I have 'employed' mortgage broker and their assistants, finance assessor, finance manager, property manager, property clerks, buyer's agent, solicitor/conveyancer, handyman, plumber, electrician, smoke alarm servicing, insurance sales, quantity surveyor, accountant, gardener, cleaner, airline staff, hotel staff, taxi drivers, uber drivers, bus drivers, train drivers and the list could go on and on and on .... if people realised this, I don't think they would be so negative.
     
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  3. Raydar

    Raydar Well-Known Member

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    Green eyed monster at play...
    I get this at work from some who know our financial situation. They have had a negative experience with housing affordability or just have allways rented. They wonder why they can't have the same... It's always someone elses fault and no personal accountability.
     
  4. Joynz

    Joynz Well-Known Member

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    l'd like to have seen more of the numbers in that article...

    I think it's a great story, but I definitely take it with a grain of salt.
     
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  5. Blacky

    Blacky Well-Known Member

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    Meh just another good reason to stay away from social media.
     
  6. Daniel007

    Daniel007 Well-Known Member

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    The lack of willingness for people to sacrifice and save is the reason why you have renters for your IP, otherwise they'd buy their own house ;)
     
  7. Ghoti

    Ghoti Well-Known Member

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    Doesn't matter whether its property, or cars, or any other material goods. Some folk will say "what do I need to do to get that?", some will say "Geez you're lucky to afford that" and then there are those that "you must be a greedy, unprincipled so & so to have that".

    Ultimately its nothing to do with you. Its about their view of themselves.
     
  8. Ouchmyknees

    Ouchmyknees Well-Known Member

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    I would be more discreet about my financial situation to avoid jealous people give me c&@p I don't need. (It is a nice problem to have though!)
    On the other hand we could never made this level of sacrifice, we enjoy travel and dine out so we probably don't deserve to be as successful as the kid. :)
     
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  9. Leo2413

    Leo2413 Well-Known Member Premium Member

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    It's quite normal and expected. when the 1% (or aspiring 1%ers) type people shine, many (not all) of the 99% feel threatened. It highlights their lack of progress and they don't like to face that reality so they go on the offensive.

    It really is irrelevant how they respond imo because they are nothing, they dont exist in the world of the 1%ers.
     
  10. Bran

    Bran Well-Known Member

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    Absolutely. Ignore them. Drive your Ferrari to the bingo hall at 80 while they relied on the government pension that just got wiped.
     
  11. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Anon critique and cask whine are both cheap............

    However, both leave a hangover....................

    ta
    rolf
     
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  12. melbourne171

    melbourne171 Well-Known Member

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    When you tell about your success to others, they do not really cheer up for you but they are jealous.
     
  13. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    +1. Great post, unbelievably true.
     
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  14. bob shovel

    bob shovel Well-Known Member

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    I don't talk to people so unfortunately miss out on the confrontation :( but i come across as a bit of an asshole so don't think it will be an issue :cool:

    As for the haters... i love em! Haha :D i like knowing they are responsible for their problems and I'm off doing my thing getting ahead
     
  15. Joynz

    Joynz Well-Known Member

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    Do you tell everyone you meet about your bank balance? Most people don't.

    Do you tell everyone at work how much you earn, if you are on a private contract? Most people don't, especially if they are earning good salaries.

    In our Australian culture we just don't rave on to all and sundry about how well off we are compared to them. That's considered ****** behaviour

    If you add the attitudes expressed above that the renter's of our IPs just don't sacrifice enough, are defective in some way and 'are nothing', well, no wonder it gets people's backs up!
     
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  16. Ald

    Ald Well-Known Member

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    I read the report and felt very sorry for the guy. He sure worked very hard to buy all that debt. I fear that he will be like the many others who will find themselves in the nightmare of debt that he must pay for but never have anymore capital gains. How can't their be much capital gain when rents can't go up higher and house prices are already 12 times annual salary in Sydney. I can tell you he was buying stuff that is at the low end of the market. Sydney will go through a low jobs and high interest rates scenario in the next few years after stock markets crash and many businesses wind up for a few years.

    An investment strategy must consider that bad times will come. Just consider that the Sydney housing market was going nowhere after 2008 and the Goverment had to do something so they freely made available, house buying by foreigners who applied correctly. This brought in income that has caused the Sydney and Melbourne booms that then others jumped onto the bandwagon with. However the underlying economics for this house price rise we have seen are just not there to support it.

    Look at Perth

    It also has record low interest rates,
    It also has a internal economy
    It has many big businesses and small business that support the economy
    It still has slightly higher salaries then Sydney

    But it also had massive unemployment at the same time as it has oversupply of houses and apartments.
    It has a bankrupt state Goverment which nobody wants to admit.

    This crashed the Perth market.
    Rents there now are at 2004 levels.
    House prices at 2008 levels pre crash.
    It will still fall. If iron ore reaches $90, Aussie dollar devalues to about $0.65 and 65000 immigrants are diverted to Perth then property values will rise.

    Let's hope this happens.

    Turnbull has released a 30 year bond at 3.45% he can't get 3.45% for the next 3 years from money loans to banks so it's coming from taxes and higher interest rates. It also means that nobody usual is lending Australia money at low interest rates which means that he must create Goverment bonds. But that means nobody likes Australia's credit rating. No wonder with such a massive private and Goverment debt. Foreign banks don't bellieve that Australia is good for making money if they had money they are buying those bonds. Money is tightening up for investors over the next few years. The lenders have to start calling in some of those loans now.

    Grab your popcorn and watch people loose money. Watch the Goverment earn some stamp duty as forced sales occur.

    If you have not got cash to buy 80% of the property. You can't afford it.
     
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  17. bob shovel

    bob shovel Well-Known Member

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    Perth is essentially a mining town. Yes they have other other industries
     
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  18. BB5

    BB5 Well-Known Member

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    Think there's 2 reasons:

    Because making money off residential property is seen by many as taking from the poor to give to the rich.

    Also nobody really wants to hear someone brag how successful they are.

    Personally I couldn't have made the sacrifices, all my money in 20's went on University, travel and partying and the only thing you can't buy with money is time...
     
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  19. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @Joynz I never said the renters of our IPs are nothing. It's the haters, the naysayers, the viscously jealous and the people who only want to tear down others when they do well. It's those ppl who imo don't exist to the 1%ers.
     
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  20. TMNT

    TMNT Well-Known Member

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    Yeah exaclty.

    Like those people who scoff at caviar and say why the hell would i pay 200 for that when i can get 6 steaks at that price!

    I have news for you, people who spend 200 on a serving of caviar dont care for your opinion nor can they not afford it.

    Its sad that people think that they are the cebtre of the world
     
    Michael V likes this.