YIP Investor of the Year 2012

In a clean out yesterday come across an old YIP mag.

The investory of the year 2012 was a young couple that had moved to Moranbah and invested $8M
in properties - basically in Moranbah and some in Mackay.

They had achieved around $900K equity and were the success story of the year.

The median house price in Moranbah peaked in December 2012 at $740K and was $310K in Dec 2014 and
is around $216K now (I think).

I wonder how the next couple of years played out for them - I sure hope they saw the signs and got out early enough.


Profile: Investors of the Year 2012 - Kate and Matt Moloney

No Cookies | dailytelegraph.com.au

 

kate-moloney

Doesn't look like it;

"Sometimes things happen to us that weren't ever on our wish list. I totally get it. Investing in property was meant to set me up financially (for life), instead I ended up with a debt disaster, owing millions of dollars more on my properties than what they were worth (ouch!) I'm in my twenties and everyone says "well your young" but still. It intially knocked away all my self esteem and confidence (for a while)"

 

Reading what Simon posted...I got to hand it to this women...she has resilience!

I saw them up on stage with Dymphna Boholt a couple of times...they were the poster children. I think a few people got burnt.

@Simon L ....nice picture of you in the recent API....you da man!!! You look like a CEO with those crossed arms....in front of the Sydney harbour bridge. I hear you pulled the plug on work...

 

I wonder how many other suckers those types of magazine write ups led to failure with false hopes.
Glorifying unproven amateurs is just wrong, and these magazines seem to do it often.
The common fundamental lessons keep getting repeated, in this case it's simply greed, caused by leveraging too heavily going for high returns.

 

OK Thanks @Simon L - not a very nice outcome at all.

Interesting website though.

Now she is a mindset guru and coach - very interesting
.

 

I remember reading the article, hope they did OK. And Nathan birch got runner up.

This was from the article back then

Having reached their goal of earning $100,000 passive income two years early, Kate and Matt are looking at the future with a lot of optimism. “We’re heading on our first round-the-world trip – business class,” says Matt. “We’re quitting our jobs and heading to Africa, North America and Europe for a well-earned rest.”

Kate adds that she is finding it hard to contain her excitement. “For the last couple of years we have lived our lives far from your typical young couple,” she says.

“We haven’t partied hard, or spent all our money drinking or buying clothes – we’ve been very responsible. We feel that now it is time for us to reward ourselves.”

 

LOL thanks...photographer insisted on the crossed arms even though pockets are more natural to me...guess he knew something....and bridge is a 3 min walk from work so might as well make the most of it.

Nope still working away.....for now....

 

Great read Simon (just picked it up), congratulations, great insight in there.

Also adding to @sash comment about you looking like a CEO - the very nice watch helps.

 

Sadly enough, these magazines (API, YPI, etc.) are not really worth reading anymore. remember a few years back, I used to read these articles ( some were good with analyzing plans, strategies, tactics), spending a few hours to read and re read them. they came with some real figures. now, especially the recent few months, these articles were so superficial and could be misleading. got them in the mail, flipping through in 10 mins, and then in the box.

 

I think it would be really interesting to see follow ups for random case studies done in these magazines over the past decade.
See what the real track record reveals.
I'd guess that more than a few have crashed and burned.

 

Congrats on the API write up Simon. Just heard about it. Gonna go buy it just for your article.

 

Buying in mining towns at the peak of the mining boom. Ouch.

It reinforces the importance of strategy and the macro factors that influence the strategy; rather than just looking at the numbers (recent years of growth and yield) and taking action since they appear to stack up.

 

I read API for inspiration and general commentary(+ve and -ve). The stats at the back are not bad either.

 

So, if you are millions short ....... I guess you just go bankrupt and start again.

Not much different to being $100K short really.

 

not really, they won't get bank finance, I think 7 year??

 

She can still mentor you though!

 

Banks have deep deep memories, they never forget. The 7 year thing is a minimum(required by law I think) unless financial circumstances change quite significantly and then banks may start considering the application.

 

Nothing wrong with learning from your mistakes and sharing the wisdom/hindsight and making a few bucks by doing so.

 

Well its going to be a tough gig going down the mentoring path if you have lost all your assets? Its not going to look pretty. Maybe I am wrong, don't know just my opinion.

MTR

 

Will certainly make a difference in the future after the bankruptcy has been discharged.

This comes to mind - If you owe $100k it's your problem but if you owe a million dollars then it's the bank's problem.