Youtube property spruikers?

Discussion in 'Investor Psychology & Mindset' started by hammer, 9th Oct, 2021.

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  1. hammer

    hammer Well-Known Member

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    I am notcing a large rise in property guru ads poppig up on my facebook and youtube feeds.

    It nearly always starts out the same, some fit person, walking over to a white board telling me how I can make thousands in property.

    That opening line is as old as the hills, but the amount of ads that I'm seeing lateley, all with different non-credible people is startling. The old guard of Dymphna Bolt et al are all still there, but there are literraly hundreds of others now.

    The space is getting quite crowded and I'm not convinced that its a good thing.
    The joys of social media.

    Anyone else noticing this?
     
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  2. Trainee

    Trainee Well-Known Member

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    When the market is hot, people look for saviors. They can point to ‘this is what i’ve done in the last few years and you can too!’
     
  3. Ryan23

    Ryan23 Well-Known Member

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    Yep there is lots of them! Although members of PC probably see a lot more then the average person due to targeting of our interests.
     
  4. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Why one needs to be self-educated, so they can discern BS from sound advice.
     
  5. standtall

    standtall Well-Known Member

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    I know a buyer agent who claims to be a massive real estate guru who retired early due to great success as a property investor and now just wants to pass on his knowledge to make others rich and retire early.

    Reality: He owns two townhouses in Logan that he bought in 2014, haven’t appreciated in value at all. He has rented all his life and still continues to do so and only reason he is a buyer agent is because he got laid off from his job in 2017 and couldn’t find another contract for over a year.

    However, he now is so busy that he has a waitlist of buyers for last 6 months.
     
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  6. Simon Hampel

    Simon Hampel Founder Staff Member

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    If they are recommending off the plan property - you can be certain they are getting paid by the developers and are nothing more than quasi sales agents.
     
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  7. Scott No Mates

    Scott No Mates Well-Known Member

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    I suffer from male pattern blindness - I don't notice the adverts.
     
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  8. hammer

    hammer Well-Known Member

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    I wonder how many of these young new gurus are like him?

    When I want good quality property advice, the first place I turn to is an anonymous paid message on social media...../s

    Could you imagine what would happen if people ignored doctors and did that with medical advice?....oh yeah...that's right ....
     
  9. Sackie

    Sackie Well-Known Member

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    Been trying to setup an account as a property guru...but can't figure out the IT to get it working ..:oops:
     
  10. beachgurl

    beachgurl Well-Known Member

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    I get the sponsored ads thru facie often for the property spruikers. A lot are ex dymphna students and employees who have gone out on their own.
     
  11. Gen-Y

    Gen-Y Well-Known Member

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    I can get you IT help if you need.
    Calling all IT department in India, Philippine, Silicon Valley. Please hold the line.
     
  12. Sackie

    Sackie Well-Known Member

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    Business partners aay....:D.
     
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  13. Lacrim

    Lacrim Well-Known Member

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    I have yet to come across a single property guru (including the more revered ones) who can show you step by step how to retire early with $100K NET in TODAY'S dollars using:
    • realistic economic assumptions
    • P&I loans
    • examples of metro/large regional resi property investments that will generate said income
    • realistic property expense $ and tax effects
    • achievable salaries or business income to support the above
    • no Super or the pension to pad the numbers
    The reality is that its nigh impossible to achieve in today's lending environment and bloody hard even during the good 'ol days.

    So they fudge the numbers or use some ridiculous assumption like rents doubling every 7 years whilst grossly underestimating property and living expenses, income or land tax, interest rate movements etc.
     
    Last edited: 6th Feb, 2022
  14. Sackie

    Sackie Well-Known Member

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    With regards to resi RE, is very achievable IF you have the right income and investment strategies over a reasonable period of time. Not via rents. But rather manufacturing large chunks of equity to later turn into CF.

    The simple reality is 98% of people don't have the financial means and dedication to see it though.
     
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  15. standtall

    standtall Well-Known Member

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    $100k residual income is not impossible at all .. I started investing in 2009 .. average equity growth across portfolio is now around 150% .. only invested $60k in first PPOR in 2009 and then everything is debt recycled.

    If I sold everything, and paid off PPOR debt, I can easily get over $100k in passive income by investing in index funds or achieve the same by selling some properties and paying off others. I am already making a bit over $50k in positive cash flow as I continue to hold (which is the current plan) but it could very well change if interest rates go up.

    I don’t blame the experts because you are asking a lot from an expert by asking to set you up on a $100k residual income path for may be just one off $10k buyer agent fees. It’s like asking your GP to solve all your heath problems for rest of your life in just few sessions. It’s just not possible and there are no templates. Nobody can make you rich by giving you suburb recommendations or few tips here and there.

    Creating property success is still relatively simple but it requires years of building knowledge and making good choices just like with maintaining good health. The key is to get started asap, stay appropriately leveraged, buy decent assets and then keep building on your successes.