The Darwin Spruiker.....oh Puhleeeaaze!

Dymphna Bolt is heading North.

An ad appeared in my social feed claiming the following,

"Some of my students have amassed a property portfolio where they don't even have to work anymore in less than 12 months, but usually it takes 2-5 years"

"I know the Darwin maket has been reasonably flat"

She then goes on to suggest that 2019 will present a huge oppourtunity ra ra come to my seminar etc etc...

Now whilst I agree that 2019 does present an oppourtunity....I dunno if I'd be rushing out to buy an investment up here just yet. It's PHENOMENAL for buying a PPOR, don't get me wrong, but an IP?

Darwin has dropped around 30% since the peak. Dymphna describes this as "reasonably flat"...

I would call that "reasonably deceptive"....

Here is the ad circulating on social media

https://www.facebook.com/video.php?v=2285956251648529

 

There's one born every minute.

 

Quote:- “The Sydney and Melbourne markets have gone flat”

That is NOT my reading of the numbers .

 

"Some of my students have amassed a property portfolio where they don't even have to work anymore in less than 12 months, but usually it takes 2-5 years"

Why does she even bother working and get up in the morning, amassed herself a portfolio in 12 months and never have to work again

 

Maybe she is still paying off her $15,000 payment to Qld Office of Fair Trading (OFT)?

 

She'd be surely coming to Perth soon on the same bandwagon.

Certainly gone are the days when you can quickly amass a portfolio like her students used to be able to - whether they could retire on that is a whole other question - the answer is 99% no however.

 

I'm a failure then. Took me 25 years to amass the portfolio

 

You probably just misread the fine print and didn't see the "-" between the 2 and 5

 

I am a bigger failure.

Still amassing after 40+ years.

 

Seems strange to me they understand the mechanics of the boom then the bust and the misery they cause in-between and they are selling the same dream plus the added nightmare.
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One would think after being in the soap box game this long they would be retired sitting in a private beach front 2 level unit in Noosa's hasting street watching the world pass by..

Success can sometimes be a failure depending on the way one looks at things but I know one thing the 4k I invested in the first property in nov 1983 has grown to a number that I never thought possible without any help from breathless self-serving one size fits all promoters..

 

Seems like someone flogging insurance to people who wouldn’t need it or ever be able to use it. I have the feeling this will be similar to the “mining towns” advice

 

That's a valid point. Why is she still doing this?

 

Doesn't listen to her own advice

It's part of the cyclic road trip.
Sydney, Melb, Hobart, Brisvegas, Darwin, Perth, then mining towns again

 

Expect the ********, but never accept it ..

 

I think one of the things people really have to be aware of with buyer's agent/property experts is how they pick the locations. So what a lot of this thread speaks to is that people don't agree Darwin will boom, & on a side note on her marketing techniques.

I too don't think Darwin will boom in 2019 and I make the argument that too many 'experts' rely on economic and population data which:

1. Can be easily skewed to suit confirmation bias
2. Does it really work to predict booms? Melbourne has a good economy and good population growth yet most houses aren't growing, quite the opposite.

I think like how we have a sub forum devoted to Property Experts it would be good if someone could collate the 'picks' suggested by some of these people to compare results.

 

I can’t see Darwin having any growth any time soon.

Tons of people leaving town, businesses are closing, crimes up, no faith in government, major projects ending.