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  • Originally posted by NovInvestor View Post
    well the less than 1mil (or even 1.5mil now) per bank is just to keep urself as a retail customer.

    once you are 1 mil or above, you may be served with a business manager, and lending becomes tougher.

    At least that's what i have been told by mortgage brokers and the banks' mortgage people.
    I've found it to be tougher in some respects and easier in other respects.

    They want more information, however if you are willing to provide such information then you relationship manager will argue for your case... And there is some discretion involved, rather than plugging in a bunch of numbers to simply get a computerised result.
    Then there is also access to discounted mortgage rates... There is a lot of benefit to not being a retail customer.

    Comment


    • Originally posted by speights boy View Post
      Ron Lets take the example of a family managing to service a 400k mortgage on a 500k PPOR.
      But not much left over at the end of the month.

      In 8 years time the next family will need to borrow 800k to buy the now 1m house.

      How much in actual dollar terms, approx, will that family need to be earning?
      quote
      I am really not here to explain the affordability of losers in society that want to laze away their lives, or how they can afford a million dollar home in the future. That's a problem for the welfare dept, housing NZ, and Govt, not my problem
      unquote

      Ron
      Is that how you really characterise the two families in this example?

      Comment


      • Originally posted by speights boy View Post
        quote

        Ron
        Is that how you really characterise the two families in this example?
        And your point?

        Seems you like to dwell on the negative of what's not Property Investing

        Ron Hoy Fong
        RonovationZ

        Comment


        • Originally posted by RonHoyFong View Post
          Like I said, read Kieran's book. Then you can have a better understanding to make better judgement or criticism of others

          Ron Hoy Fong
          RonovationZ
          *shrugs*

          It was a question, not a criticism.

          But looks like you're unable or unwilling to answer. Does Kieran speak on your behalf?

          Comment


          • Originally posted by Lissica View Post
            *shrugs*

            It was a question, not a criticism.

            But looks like you're unable or unwilling to answer. Does Kieran speak on your behalf?
            Look like your not prepared to listen, or read.

            No...
            nor do I speak on behalf of him, but when it does come down to the property cycle I wouldn't dispute him.
            nor would I dispute the last 60years of history since Ive been around.

            I am also happy to say that when it came to Property Investing... Kieran was one of my many coaches.

            You should try do some reading on it sometime if you really want to be successful in Property Investing.

            Another area for you to look is to just Google it.

            Ron Hoy Fong
            RonovationZ

            Comment


            • So Ron,

              You would say then that Kieran is one of your coach's and you have followed his teachings and yet he is currently broke?

              Did you know Kieren is currently being evicted not only from his "Occupy Dunedin" Crusade but also from the flat he rents in Dunedin because he hasn't paid the rent since October last year.

              How would you like to be the investor that owns that flat and some pulpit preaching anti Capitalist ex "B"anker won't pay his own rent after "Educating" and writing books on proper property investing for so many years?

              It makes you think about all the other Broke property educators still teaching out there.

              Comment


              • Kieran as I said is one of many coaches.

                Phil Jones was another, he taught me to take action,

                Bob Jones was another, but was soon out of my league when he grew in the commercial arena. However he did teach that PI was a fun thing.

                Following Olly in his earlier days did stall my success as I tried to follow his failures of time gone pass.

                There were many others and as you say many have busted, however what I learnt from them as well is what not to do. People failure is also something to learn from and most important is why and how they failed.

                I don't play the Forex, Sharemarket, futures.

                I don't trade, flip, rent to buy, lease option, do overseas, apartment, leaseholds, one bedrooms, partnerships, etc etc

                Just "Buy & Hold" for the long term and work smart and hard, but most of all my learning comes from life skills, experiences, and sharing my knowledge with others.

                I guess I have the benefit analising the successes and failures of those around me.

                I saw too many losers when I worked 26 years in the Social Welfare, saw success in Aus by working smart as a salesperson, enjoyed success in my business, enjoyed success as a card counter in the casino until the introduction of CSM's, and enjoying my success in property investing, and now enjoying success in Property Coaching through seeing 100% of my students successfully investing in properties teaching my strategy.

                Ron Hoy Fong
                RonovationZ
                Last edited by RonHoyFong; 29-01-2012, 11:52 AM. Reason: Spelling

                Comment


                • Originally posted by RonHoyFong View Post
                  Look like your not prepared to listen, or read.
                  Listen to you avoiding the question? You haven't answered a simple question, so what is there to read?

                  Originally posted by RonHoyFong View Post

                  No...
                  nor do I speak on behalf of him, but when it does come down to the property cycle I wouldn't dispute him.
                  Should I ask Kieran how big 'he-thinks' that 'you-think' a boom is?

                  What does a 'boom' mean to 'you' when you state that there will be a 'boom of all booms'.

                  Originally posted by RonHoyFong View Post
                  nor would I dispute the last 60years of history since Ive been around.
                  So is it the equivalent of the the price rises over the last 60yrs? Is that in real terms or nominal terms? If it has been 'booming' for 60yrs, is it really a boom, or just more of the same?


                  Originally posted by RonHoyFong View Post
                  I am also happy to say that when it came to Property Investing... Kieran was one of my many coaches.
                  Good for you. But I don't answer questions that people ask me by telling them to go read my lecturers books.


                  Originally posted by RonHoyFong View Post
                  You should try do some reading on it sometime if you really want to be successful in Property Investing.
                  I'll defer to what the other poster said.

                  Originally posted by RonHoyFong View Post
                  Another area for you to look is to just Google it.
                  I didn't know Google was so omnipotent that it can tell me what you think, unless you've posted it elsewhere. If so, why are you so reluctant to define a boom, when you make a claim that there will be a 'boom of all booms'. Surely you must have some idea what it means to you?
                  Last edited by Lissica; 29-01-2012, 01:35 PM. Reason: spelling and syntax

                  Comment


                  • Originally posted by Lissica View Post
                    Listen to you avoiding the question? You haven't answered a simple question, so what is there to read?



                    Should I ask Kieran how big 'he-thinks' that 'you-think' a boom is?

                    What does a 'boom' mean to 'you' when you state that there will be a 'boom of all booms'.



                    So is it the equivalent of the the price rises over the last 60yrs? Is that in real terms or nominal terms? If it has been 'booming' for 60yrs, is it really a boom, or just more of the same?




                    Good for you. But I don't answer questions that people ask me by telling them to go read my lecturers books.




                    I'll defer to what the other poster said.



                    I didn't know Google was so omnipotent that it can tell me what you think, unless you've posted it elsewhere. If so, why are you so reluctant to define a boom, when you make a claim that there will be a 'boom of all booms'. Surely you must have some idea what it means to you?
                    Oi Oi Oi !

                    How more stupid can your question be.

                    A Boom of all Booms simply means what it says.

                    Ron Hoy Fong
                    RonovationZ

                    Comment


                    • I don't know why you're making a big deal out of this Lissica? Ron has never quantified his "Boom of all booms" claim, so why would he start now just because you think he should? As he said "it means what it says".
                      You can find me at: Energise Web Design

                      Comment


                      • Stay with it Lissica. Drelly loves to shoot people down after watching an argument unfold, bordering on spiteful Drelly. I'd love to know how a boom is defined. This boom of all boom talk combined with comments like:

                        "enjoying success in Property Coaching through seeing 100% of my students successfully investing in properties teaching my strategy"

                        make me cringe for those 'students' who are also waiting for this boom. While I like the sound of Ron's strategy - Buy, Hold, Hard Work.... that stuff doesn't rely on a Boom of all Booms surely. Sounds like a 'Property Coaching' marketing phrase.


                        Comment


                        • Agree with this. Your business bank manager looks after fewer and higher value clients than those at the retail end, so are more likely to understand your situation and know about you.

                          My manager recently told me "I'd rather loan money to you, even if it doesn't fit the guidelines; than I would loan it to someone else who might tick all the boxes, but I don't knowthem from a bar of soap".

                          Originally posted by xenophobicfruit View Post
                          I've found it to be tougher in some respects and easier in other respects.

                          They want more information, however if you are willing to provide such information then you relationship manager will argue for your case... And there is some discretion involved, rather than plugging in a bunch of numbers to simply get a computerised result.
                          Then there is also access to discounted mortgage rates... There is a lot of benefit to not being a retail customer.

                          Comment


                          • no brainer really

                            lend to a proven winner

                            or

                            a proven loser

                            of course those considered proven losers say it isn't fair to label people like that

                            but the math is clear

                            trying to help people into houses with ninja loans

                            caused the mother of all recessions
                            Last edited by eri; 29-01-2012, 10:22 PM.
                            have you defeated them?
                            your demons

                            Comment


                            • Originally posted by RonHoyFong View Post
                              Oi Oi Oi !

                              How more stupid can your question be.
                              I thought it was rather pertinent, because you keep avoiding the question.

                              Even if you're wrong, no one is going to hold it against you. You gave good reasons why you think there will be a boom. My investment strategy doesn't rely on a boom, but I'd be disappointed too if there wasn't. We wouldn't be here if we weren't property investors.

                              You can see my own subjective opinion on what I think constitutes a boom in the poll I made.

                              Originally posted by RonHoyFong View Post
                              A Boom of all Booms simply means what it says.

                              Ron Hoy Fong
                              RonovationZ
                              It doesn't say very much.
                              Last edited by Lissica; 30-01-2012, 03:25 AM.

                              Comment


                              • Originally posted by drelly View Post
                                I don't know why you're making a big deal out of this Lissica? Ron has never quantified his "Boom of all booms" claim, so why would he start now just because you think he should? As he said "it means what it says".
                                Perhaps a little obsessive compulsive, but I like to know what people are talking about.

                                When someone says there will be good weather tomorrow, what does it mean? Around where I live, it's usually considered '30+ degrees, no wind, and clear skies'. But that's good for what? It's sticky and horrible and too uncomfortable to do anything outside.

                                I like cloudy/overcast days in the high teens. It's pleasant for cycling and running. Good weather for a drought stricken farmer would involve a degree of rain. Wind might be bothersome for some, but I love it.

                                Originally posted by drelly View Post
                                Ron has never quantified his "Boom of all booms" claim, so why would he start now just because you think he should? As he said "it means what it says".
                                Exactly. "It means what it says."

                                But what does it say?

                                It's like advertisments that proclaim company X's product is 'better' or that they have 'lower prices'. What is it better than? Lower prices than whom?
                                Last edited by Lissica; 30-01-2012, 03:20 AM.

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