Steve Navra - Economics References Committee 2015-08-06

Discussion in 'Property Experts' started by Chai Walla, 21st Nov, 2015.

Join Australia's most dynamic and respected property investment community
Tags:
Page 5 of 5
  1. See Change

    See Change Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,149
    Location:
    Sydney
    He relied on increasing values and being able to refinance when ever prices went up and using the cash generated to fund growth .

    I asked him what if prices didn't go up and you couldn't refinance .

    His answer . " It would be a disaster , but it'll never happen " . I was already not interested but I was surprised how many people remained interested ...

    Cliff
     
    See Change, 3rd Jun, 2018
    #81
    Spiderman, Peter_Tersteeg, BuyersAgent and 3 others like this.
  2. BuyersAgent

    BuyersAgent Well-Known Member Business Member

    Joined:
    20th Jun, 2015
    Posts:
    1,401
    Location:
    Oz
    There are several profound truths in this short post thanks Cliff.
     
    BuyersAgent, 3rd Jun, 2018
    #82
  3. Biz

    Biz Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Investard county
    Hey, there's people who can't tell Superman is Clark Kent.
     
    Biz, 3rd Jun, 2018
    #83
    Propertunity, skater and Terry_w like this.
  4. Perky29

    Perky29 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    379
    Location:
    Sydney
    How does a person get away with changing their name like that??
    Wow....
     
    Perky29, 4th Jun, 2018
    #84
  5. Terry_w

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

    Joined:
    18th Jun, 2015
    Posts:
    42,001
    Location:
    Australia wide
    Anyone can change their name.
    It is very common for people who have been bankrupt before.
     
    Terry_w, 4th Jun, 2018
    #85
  6. Spiderman

    Spiderman Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    296
    Location:
    Vic
    Spiderman, 4th Jun, 2018
    #86
    Redwing likes this.
  7. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,171
    Location:
    03 9877 3000
    ...and Homer Simpson was Max Power.
     
    Peter_Tersteeg, 5th Jun, 2018
    #87
    luckyone likes this.
  8. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,129
    Location:
    The beautiful Hills District, Sydney Australia

    Yep. Even more so with the IO quotas and servicing calc changes, meaning whatever "model" you employ, you need it to cater for the probability of a P&I cliff after 5 years, and an inability to extend or refinance.

    Pay down debt . Dividend reinvestment. Patience.
     
    Last edited: 11th Jun, 2018
    euro73, 11th Jun, 2018
    #88
  9. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,129
    Location:
    The beautiful Hills District, Sydney Australia
    The problem with that model ( buy, hold, harvest, buy, hold, harvest ) is that it relies on two things to work . The first thing is equity from growth. The second thing is equity release from growth . Both things require ever increasing borrowing power. The model is dead now. Redundant. Flawed.

    I give you Chris Gray. I give you Nathan Birch as well.... And I give you thousands of investors over the next 2,3,4 years as they arrive at , and fall from the P&I cliff

    These people never pay down debt as they go. These people never retain the income streams from the rents.

    The succesful investor of the future will use a buy, dividend reinvest, harvest approach.
     
    euro73, 11th Jun, 2018
    #89
  10. Handyandy

    Handyandy Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    651
    Location:
    Sutherland
    Seems that he is back in business as Steve Navratil (formaly Steve Navra) and a new company My Property Mentor
     
    Handyandy, 22nd Jul, 2021
    #90
Page 5 of 5
Benefits of Washington Brown's Referral Program