Rate the Guru

Discussion in 'Property Experts' started by MTR, 20th Mar, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    19,366
    Location:
    My World
    No, he specialises in the QLD market. However, I have read some of his comments on the QLD market, which explains why this market has not boomed.
    Jobs?

    He does not appear to spruik this market for his own gains but provides the tools.
     
    Anthony Brew likes this.
  2. Ross36

    Ross36 Well-Known Member

    Joined:
    14th Aug, 2015
    Posts:
    213
    Location:
    Sunshine Coast
    Matusik is one of - if not THE - worst of all of them. Google Gladstone apartments and his name, he was spruiking 2 bedders in the CBD of Gladstone (whatever that is) then even though anyone who spent even one minute in Gladdy knew that was going to end horribly. Was still pushing its potential in 2014 when the bust was kicking in, likely screwed a lot of people. Made me laugh when I saw that crap, like "Stone apartments", then sad to see the people getting burned.
     
  3. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    19,366
    Location:
    My World
    Really. that is an eye opener, thanks for sharing.

    I did not know he was selling product? Taking a bite at each end.

    I was referring specifically to the information/data he was providing to investors, informative and provided resource. So this is the hook, line and sinker approach.

    BS alert....

    When was he selling the stuff in Gladstone?? We have a few investors who got caught up buying this crapola

    MTR:)
     
  4. Ross36

    Ross36 Well-Known Member

    Joined:
    14th Aug, 2015
    Posts:
    213
    Location:
    Sunshine Coast
    Gladstone property market cooling, with some 20% price corrections: HTW

    https://www.google.com.au/url?sa=t&...oDVQQFggnMAE&usg=AOvVaw2QkS2AsmJeF5l8_meYWy-Y

    I'm not saying he personally was selling anything. But look at these docs and then the trajectory of Gladstone real estate since 2012. Then think about if you took that advice. I have family in Gladstone i tried to talk into selling back in 2012 because you could see the end - LNG companies themselves kept saying massive job losses were coming and when - but experts like ryder and matusik kept saying how great an investment it was. Houses alone are worth half now if you're lucky, let alone apartments. Good luck trying to rent them out too.

    Hot air aside, there’s still plenty of gas left in the resources boom: Ryder - SmartCompany
     
    Orion and Perthguy like this.
  5. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    19,366
    Location:
    My World
    Just had a quick read Matusik was warning not to buy in 2012?
    Mining boom ended in 2007?? certainly in WA, not sure about Gladstone.
    Have I got it wrong?
     
  6. Ross36

    Ross36 Well-Known Member

    Joined:
    14th Aug, 2015
    Posts:
    213
    Location:
    Sunshine Coast
    The 2nd link is a sales pitch for 2 bed apartments in gladstone cbd from matusik dated november 2012. The first link is january 2013 from htw saying gladstone was tanking. Wasn't a mining boom, it was natural gas pipelines. Plenty of horror stories on here.
     
  7. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    15,612
    Location:
    Bondi Beach
    Ian and Lindy were spruiking Gladstone apartments when it was all the rage. We were invited to Ian's newly bought penthouse in the city with others for a xmas party as a precursor for selling their Gladstone units from developers I assume (don't know for a fact) they got kickbacks from. The numbers/risk didn't make sense to us then, but the party was fun. All those people who bought then would have ended up with negative equity today, some big time.

    Our Team of Investment Property Advisors
     
  8. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    11,677
    Location:
    Perth
    Australia to suffer 'biggest property collapse since Great Depression' - Harry Dent

    Melbourne, Sydney, Brisbane and Perth are on the verge of the most violent property collapse since the great depression, economist guru Harry Dent has said.

    Speaking exclusively with 7News, the author, economist and property guru says as an entire country, Australia is the most over-valued real estate in the developed world.

    “I think it's probably going to go down at least 30 percent to kind of take off the bubble, [and] I think 50 percent down the road is even more likely,” Mr Dent said.

    ... in 2014!

    “I think the most dangerous years are 2014 and 2015,” he said.

    He really nailed that one!. What do you reckon @Leo2413

    Australia to suffer 'biggest property collapse since Great Depression'
     
  9. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    15,612
    Location:
    Bondi Beach
    Harry Who???

    Only Harry I know and care about is Harry Triguboff :D The Dents of the world are of no significance to me.
     
    MWI and Perthguy like this.
  10. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

    Joined:
    9th Jun, 2006
    Posts:
    27,458
    Location:
    Australia wide
    A few years ago Harry Dent wrote 2 books
    - one about the forthcoming boom ahead
    - the other about the forthcoming crash
     
    MTR and Perthguy like this.
  11. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    19,366
    Location:
    My World

    I think he was talking Australian property market but he is from US:confused: what would he know

    MTR:)

    PS
    What do I know about US?? hehe.... its a tough gig, but it can be done successfully
     
  12. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    15,612
    Location:
    Bondi Beach
    Clearly someone took an axe to his head causing him to be in two minds about it.
     
  13. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

    Joined:
    9th Jun, 2006
    Posts:
    27,458
    Location:
    Australia wide
  14. New Town

    New Town Well-Known Member

    Joined:
    8th Sep, 2015
    Posts:
    502
    Location:
    QLD & NSW
    The mining downturn certainly must cause serious blushing from a lot of Oz experts
     
    Orion likes this.
  15. cheesebites

    cheesebites Active Member

    Joined:
    9th Feb, 2017
    Posts:
    28
    Location:
    NSW
    Well I guess a saying I heard a while back was wrong "Buy near a mine and you'll be fine".

    HAHA!
     
    New Town likes this.
  16. Spiderman

    Spiderman Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    282
    Location:
    Vic
    This is Sam Saggers' 2011 book https://www.positiverealestate.com....ow-To-Be-A-Part-Time-Property-Millionaire.pdf

    It's basically a sales pitch for his company Positive Real Estate. Back then (and before) he was spruiking 'cashflow positive' properties in D grade locations (eg regional and mining towns which proved disasterous for those who got in too late). Positive Real Estate was founded with Jason Whitton (formerly from the Entrepeneurs Success Centre). The latter was linked to the now collapsed Richmastery and Phil Jones - referred to at Get-rich advert fails truth test & 'Get rich' company in liquidation .

    Fast forward to 2018. My local library had a finance display. Shown was Saggers' latest book. https://www.amazon.com/Future-Property-Investing-Australia-Buying/dp/0648018075

    It's very different. One-horse towns are out and inner suburbs of our big cities are in. A lot of time is spent on how international investors stockpile apartments (which may be left vacant) as a store of money and to facilitate migration should their domestic government turn bad. Also on convenience and walkability.

    Elsewhere in the book is a list of high-end features, finishes and building services which your average 3 bedder in the middle burbs doesn't have but your modern high-end apartment might. Even high body corporate fees seem to be accepted due to the lifestyle advantages that what they pay for confer (to the tenant not the owner!).

    I didn't read all the book but it seems to be consistent with buying expensive inner city apartments for their depreciation tax benefits (to allow multiple property purchases as long as you're working on a high income). So a change from 5 - 10 years ago but it remains to be seen as to whether it works out well for investors. Mostly good but some bad reviews at Positive Real Estate
     
  17. Magnet

    Magnet Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    375
    Location:
    Sydney
    This probably describes us to a T @Leo2413 listened to what a property guru was predicting instead of thinking about what we had experienced in the Sydney market in 2005 for ourselves. Bought in QLD because Sydney was ‘overheated’ in 2014....actually kicking ourselves now. We have learnt a valuable lesson. We’ll be ready for Sydney next time just hope our QLD properties come through with some equity ready for the bottom of the Sydney market.
     
  18. Magnet

    Magnet Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    375
    Location:
    Sydney
    Interesting that some of the guru’s are starting to say this again now!
     
  19. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    19,366
    Location:
    My World

    Think also been marketing stock developers offloading
    It does not take much to work it out, just need to look at what stock he is selling and the price
     
  20. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    15,612
    Location:
    Bondi Beach
    Sometimes it's kinda a do and learn process this whole investing game:) Personally I don't believe there is such a thing as 'property guru' with all the answers. That's why I'm such a strong advocate for learning this stuff from the bottom up, especially focusing on how to do thorough DD on markets and then stock types. It's all a learning process, sometimes quicker sometimes slower. You've learnt many valuable lessons I bet which you can now use moving forward.

    Btw I like your status comment "life waits for no one". Reminds me of my dad's similar, but more crude "time waits for no fool".
     
    Magnet likes this.