What they dont tell you in property forums??

Discussion in 'Investor Psychology & Mindset' started by MTR, 15th Jun, 2018.

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  1. Biz

    Biz Well-Known Member

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    I should be asking you that ;)
     
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  2. balwoges

    balwoges Well-Known Member

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    My husband and I bought a double block of land in an area not far from Newcastle and within a 5 min walk to a busy shopping centre c1992. We demolished the house [which was transported to another area and to this day is being used as a Community Centre] and built 12 small industrial units - there was no mortgage.

    We struggled for a while but gradually the units filled with tenants and we always had an income stream even if 2 or 3 units were vacant. Eventually the 12 units were being rented and when I sold in 2015 we had several tenants who had been there for over 10 years.

    As I was a licenced REA who had plenty of experience in property management I managed the units and also kept the books, I had worked for accountants as a bookkeeper before marriage. The maintenance costs were low, just lawn mowing and keeping the amenities clean.

    I sold in 2015 and only got double what it cost us to develop, our accountant remarked 'we could have done better with our money'.

    I sold the units myself and saved commission however I made the mistake of signing the contract in June and found myself with a large CGT the next year. The units were sold within 3 weeks of hitting the market and up to contracts exchanging had 2 other buyers who also wanted the property.It was the income stream that was wanted ...
     
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  3. bob shovel

    bob shovel Well-Known Member

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    Were they deleted? ? Mods only delete worrh a good reason
    Also she wasn't crucified for telling her story but more likely her role in the story
     
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  4. MTR

    MTR Well-Known Member

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    I will Post the link later, I cant atm
    Yes, Lots of hostility, I personally did not think she deserved what she got, especially seeing she had hit rock bottom
     
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  5. Perthguy

    Perthguy Well-Known Member

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    Like all threads it was a mix of support for Kate and antagonism. Personally I didn't understand the antagonism because everyone makes mistakes. But then there are people who will criticise for whatever. It's unnecessary really.
     
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  6. Simon Hampel

    Simon Hampel Founder Staff Member

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    From memory, the posts that were deleted were her spruiking her book.

    We don't just delete posts - there has to be a valid reason.
     
  7. jins13

    jins13 Well-Known Member

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    I think Kate's website is closed now as well.

    My deepest sympathy to anyone that's experienced a hard time, but felt the whole exercise was a way to promote her book.
     
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  8. Jane Ridder

    Jane Ridder Well-Known Member

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    What they don't tell you about in property forums (or other investment forums)?

    The obsessive characters (who often throw around statistical fluff to support their pessimistic cause and effect theories) are mostly looking for excuses not to invest.
     
  9. MTR

    MTR Well-Known Member

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    Lol, so true, also ditto shares
     
  10. Gockie

    Gockie Life is good ☺️ Premium Member

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    Doh!!!
     
  11. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    People actually resonate more with things that didn't go right than things that did so sharing your "failures" is actually a good practice. Takes humility as well.
     
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  12. TMNT

    TMNT Well-Known Member

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    What most property forums don't tell you are the people who have made bad decisions and cost them dearly.

    Thus the saying property will always go up. Isn't true.

    For any newbie, after reading this forum they're likely to think everyone is a winner here and you cannot lose
     
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  13. Blacky

    Blacky Well-Known Member

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    To me there is a very fine line between a ‘good’ decision and a ‘bad’ one. And only hind sight will let you know the difference.

    I’ve never heard anyone, with the facts they hold, say ‘this is the wrong decision, but I’m doing it anyway’. You have the info you have, the future holds the great unknown.

    Often the the only difference is how hard you have to work to reach the desired outcome. And how long you are willing to (or can) hang on for.

    You always make the right decision at the time. Cos you wouldn’t have made it otherwise.


    Blacky
     
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  14. Blacky

    Blacky Well-Known Member

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    *except for drunk blacky. He often says that.
     
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  15. Sackie

    Sackie Well-Known Member

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    :p
     
  16. Lizzie

    Lizzie Well-Known Member

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    I guess it's hard to admit mistakes.

    But, I can also understand, if you're not thick skinned, that opening up and getting the responding advice can be really hard. Especially if you're wanting advice, but rather wanting some therethereit'llberight pats on the back.

    Recently Alex put her Perth issue up - got lots of really good advice - perhaps wasn't ready to "hear" the advice and pushed back ... so it may have seemed like we were being harsh when, in reality, most of us were making suggestions based on our own past experiences - and I haven't seen her post on here since
     
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  17. geoffw

    geoffw Moderator Staff Member

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    Will you two get a room?
     
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  18. willair

    willair Well-Known Member Premium Member

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    Most people these days listen to media and print experts and their future forecasts..The problem is so many of the media experts with young faces have never seen hard times or high interest rates ,but still most have a natural tendency with the outlook that the expert are always right..
    One only has to read back in the old site and the new sites about the Spams --Navara's and a long list of hopefuls that they were not always right..
     
  19. Sackie

    Sackie Well-Known Member

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    unnamed.gif
     
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  20. ShireBoy

    ShireBoy Well-Known Member

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    * No one on Whirlpool ever mentions Property Chat. *sad face* Wasted two years doing my "research" over there until I came upon this forum.
     
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