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$100,000 equity to play with but hubby says WAIT!

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  • #61
    Poormastery I tend to agree but with a slightly different bent:

    A lot of people seem to take the attitude of "We'll get the money" or "We don't know how we'll do it but we will" with their property investment. This does actually work for some people some of the time. In a rising market like we've had for the last while you can do just about anything and still make money. These people seem to think the Universe is helping them or the planets are all in alignment or perhaps that they are gifted and blessed with abundance.

    I just think things may be a bit tougher in the times ahead and a solid plan of knowing how you will make money out of property will be needed rather than "Let's just by this because it's a great deal!". Right now if I was to buy, I would do a lot of due diligence and be pretty sure by the end of that that I was getting a good deal.

    With the banks tightening up their lending (notice how the word came from Aussie last week to raise mortgage rates here? The people giving the orders don't even live in this country), property perhaps not increasing in value year after year, I reckon there's still money to be made but everyone will have to be a bit smarter than they've had to be recently to do well.

    David
    Squadly dinky do!

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    • #62
      I can see I made a mistake

      posting on here. Some of you are rude, and yes you are offensive. Poormastery (love the name by the way), No I haven't been to any "Get rich quick scheme" and I am sorry if you can't handle who I am and my personality.

      I do extremely well each day in my business and have done so for 7 years. I will also do extremely well in the property market, however, after the way some have treated me on here, I won't be sharing what I find out.

      I am appreiciative of the fact that I've met some really good people on here, so with that, I'll take them and leave.

      Have a nice day!

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      • #63
        MarniH,

        If you're still watching... I'm surprised at your reaction. The posts on here are really quite mild and nothing compared to what you will have to put up with dealing with tenants.

        We all see the glazed-over eyes and fixed grins of seminar zombies and the fervour of new converts to the church of property on a regular basis. Poormastery might be a bit blunt but your "we'll cross that bridge when we come to it" and "I don't have the patience" approach tends to attract blunt responses.

        After all, you came here to ask questions about decisions you're making involving large sums of money. No point pussy-footing around.

        Investors in the last few years have been able to buy almost anything and make money. Those times are over. Now you need to know what you need the answer to be before you investigate the question.

        cheers,
        Dave
        My Profile

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        • #64
          Blunt?

          Marni, if people were rude and offensive, they would be advising you that $100k equity is bugger all to be "playing with" in this market.

          They're not being rude - they're just asking the questions that should be asked.

          Good luck.
          two ears and just one mouth.. for good reason.

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          • #65
            Marni

            Hiya!

            A total newbie to this site and a newbie to property investment too, very much like you. Please don't get angry at these guys, IMO they have been considerate, discrete and rational. Disagreeing is complimenting someone's intelligence, because you suppose they have it and are able to use it to alter their own mind if need there be, and it seems that it's constructive criticism you're angry at. If you DO want your intelligence to be implicitely insulted and your every property investment idea to be cheered regardless of how unclear/debatable/overly optimistic, there are other sites that are far more pop and less analytical than this one (one comes to my mind, but I'm still a newbie so I'll refrain from slandering other boards on this one). PT, judging by what I've seen in this thread and others, has by far the most benevolent, informative and astute property-related NZ message board I've found so far. The peeps here appear to be by far and large well educated (especially in economics, which I think is pretty important to long-term success in any investment), as well as very experienced in this field, again not easily found elsewhere. Happy-go-lucky attitude can only take you so far in the times of low yields and possibly changing s/t price trends. I'm happy to spend heaps more time learning before I venture in again, as I ackoledge there are some periods that are better spend acquiring in-depth knowledge than wealth, and this may be one of them. Hope I added some value...

            Good luck & Arohanui!

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            • #66
              I actually think people were using very kind language

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              • #67
                Don't take the way things are written, the wrong way. Alot of people have taken time out of their day to give you advice - which is what you were after when you came here.

                If you had been sitting in the room talking to these people then you could hear the inflections and tone of voice - its so easy to take things harsher than what was intended by the poster. Believe me, I've done it myself.

                Stick around - you have valuable contributions to make here too. We need more women around here to sort the guys out!! LOL ;-)

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                • #68
                  Hi Marni,

                  Naturally, I apologise for upsetting you.

                  I was looking at a property the other day on the wall of an agency, and was approached by one of their agents. They said something like “Yes - that is a great property. There has been quite a bit of interest in it.”

                  I immediately replied that I only buy properties that have had zero interest expressed in them. I have never bought a property in competition or bidding against other buyers in my life, and I’m not about to start doing so now. Did they have any properties like this? They pointed to some other properties that had been on the market forever, and I had a look at them.

                  All I am saying is that a little more indifference can pay dividends. You can always walk away for a better day and a better deal.

                  You seem to be a little desperate to “play” in the property market imminently. In your own words, you “have a very hard time sitting still, I just want to go go go!”

                  My point was that I fear that sometimes salesmen can sense this desperation, and they can “play’ on what they may perceive as excessive exuberance.

                  I like your enthusiasm, but I suspect your husband is closer to the mark – patience is a virtue!

                  Good Luck and Best Wishes in your property hunt!!!
                  *poormastery*

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                  • #69
                    If you're going to quote..

                    ... make sure you quote the whole saying.

                    Patience is a virtue,
                    Possess it if you can,
                    Seldom in a woman,
                    NEVER IN A MAN

                    About the only bloody thing I learnt in all the enforced Bible classes I went to!!! LOL.

                    Sorry, for take the focus off the thread.
                    Patience is a virtue.

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                    • #70
                      Marni you seem to be VERY defensive when I read these posts I thought they were very good things for you to think about.

                      If you wanted a quick "pat on the back" and "go for it" response maybe you should try the richmastery site.

                      At least here you've been able to get some alternative points of view.

                      I understand your excitement and your wanting to "take action" and "do something" - I tend to be like that, and my partner is like yours, has a bit more patience than me.

                      But we get there and way more thoroughly than I would have done alone.

                      Sarah

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                      • #71
                        Hi MarniH,

                        Stick around.

                        There is a saying according to which "The strongest steel is forged in the hottest fire".

                        Rather than think you have received a flaming, why not consider it an opportunity to be forged into a strong investor?

                        Personally, I love being criticised. It affords me the opportunity to examine whether I am making a mistake. Often, I am.

                        That's why I stick around on PT, despite having been subjected to the occassional roasting.

                        Best,

                        Paul.

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                        • #72
                          I haven't left yet

                          Sarah - Thank you so much...it's really nice to know there's another "me" on here.

                          Superdad - Thanks again Paul. We spoke yesterday through PM and I think we understand each other a little better now. I hope one day to be able to welcome criticism like you can.

                          I guess that's what I've found the most difficult on here, is that those who have "roasted" me don't know the first thing about me, yet they still feel that they have a right to give me a serve. I guess what really got up my nose was that they don't know me, or who I am, yet they made some pretty big judgements.

                          So maybe there's a lesson in this for all of us. Those who like to "roast" maybe your fire is a little too hot, and for those who feel they are being "Roasted" maybe we need to pull that flame-proof outfit on a little tighter.

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                          • #73
                            MarniH,

                            I think what you are suggesting is very wise and will make you a fortune. I admire your business skills, which will obviously help you enormously.

                            These mean bastards and bastardettes on this forum are trying to put you off so they can snaffle up your deal. But I can see you are on to them.

                            Best of luck with the purchase, not that you need it.

                            Julian
                            Gimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!

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                            • #74
                              Ha ha ha Julian

                              You aren't the first person on here that's told me that. The only thing I've come close to being put off is being part of this forum. If they think for a second they've put me off property investing, they are sadly mistaken.

                              Cheers for your comments. It's nice to know there are a few kindered spirits on here!

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                              • #75
                                Hope I don't come under the category of mean bastardette, I wasn't after your deal honest! My husband & I have to keep each other in check sometimes, but it's not always the same one who wants to race ahead.

                                I'm sure we'll meet at the next Chch get-together anyway, be good to have some more women around so glad you're still here

                                Eli

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