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Stiff Necked Fools....

Discussion in 'Information Resources & Tools' started by sash, 30th Jun, 2015.

  1. sash

    sash Well-Known Member

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    To all the newbies....I know you guys are keen...but along your journey you will meet many people with differing opinions on property....:D

    Some of suggested due diligence questions to ask these people:

    1. What have they achieved and how? Does this seem reasonable...or are they selling the fantasy?
    2. Are they willing to share details of deals or their situation? Obviously...some may not do it on the forum for privacy reasons..but will they discuss one on one at the next SS meet perhaps?
    3. Have they been on the forum for a while....
    4. Above all ask them what is in for them? - i.e. Is there are monetary angle...nothing wrong with it if they are up front.

    Experienced posters ...please feel free to add to the list above...

    With that note I leave you with this song from Marley...



    Pay attention to Lyrics....it has a real message....happy property investing! :)
     
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  2. Eric Wu

    Eric Wu Mortgage Broker Business Member

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    love your post Sash:rolleyes:
     
  3. Redwing

    Redwing Well-Known Member

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    With #1 You need to realise some people posting here have a high income and no dependants, whilst others could be on an average income with 3-5 Billy lids. It can put things in perspective

    With regards to experts and guru's...

    CXO Advisory Group has been collecting data from market forecasters since 1998. The firm has tracked and graded thousands of market forecasts made by dozens of popular gurus over the years. The overall results are not good.

    CXO has concluded that the market experts accurately predicted market direction only 48 percent of the time.

    I think you also need to do your due diligence on yourself, how are your current finances, family structure, risk tolerance, insurances, wills and estate plans, cash flow, budgeting, superannuation etc..protect your ASSets
     
  4. Pistonbroke

    Pistonbroke Well-Known Member

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    So even the experts only get it right half of the time? Or do you look at what they get right and what thwy get wrong and look at the magnitude of the results?
     
  5. Rixter

    Rixter Well-Known Member

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    Find someone who has attained or is well down the road to attaining what it is that you are wanting to attain, then duplicate it.
    It's not rocket science.
    Why try to re-invent the wheel.
     
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  6. Biz

    Biz Well-Known Member

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    Not really possible to duplicate what someone else did. Different deals in different markets at different time with totally different circumstances to what we have today got them to where they are.

    There is an old saying in motor racing - Be on the right tires at the right time. In property you could say be in the right markets at the right time.
     
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  7. Azazel

    Azazel Well-Known Member

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    Be wary of anyone who reckons anything on the internets, not just this forum. A good way to think is, rather than think do I have to ask this person "What's in it for you?", just make it part of your training to mentally ask yourself "What's in it for this person?". Many people will come across as helpful, but still might have something to gain. It's the internet. They're not your mates.
    Also be wary of posting personal details, not because you may not trust people you know or interact with on this forum, but anyone can read it.
     
  8. Rixter

    Rixter Well-Known Member

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    You dont duplicate what they did you duplicate what they are doing.
     
  9. Biz

    Biz Well-Known Member

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    instead of trying to copy why not try to do better?
     
  10. Rixter

    Rixter Well-Known Member

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    Better than what?
     
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  11. Biz

    Biz Well-Known Member

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    I don't know.
     
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  12. Bayview

    Bayview Well-Known Member

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    What other reason is there?

    I'd wager that noone on this planet will have decided to go into property investing for any other reason...unless they were already filthy rich and wanted to embark on a philanthropic exercise for a feel-good experience.

    Let's be honest.

    I guess you could say that you want to set up your kids' future when they grow up.

    You can also say you want to fund your own retirement and not wind up on a pension, and/or to retire from the rat-race early and with a nice level of lifestyle.

    These are my reasons for PI....but the core is still to make money. You can't do any of the above without it.
     
    Last edited: 5th Jul, 2015
  13. sash

    sash Well-Known Member

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    Bv the money perspective is in regards to people offering their services good to understand how they are paid