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  • Originally posted by Asterix View Post
    Stay with it Lissica. Drelly loves to shoot people down after watching an argument unfold, bordering on spiteful Drelly.
    Eh? Alternatively... listening to both sides before expressing an opinion.


    Lissica ... I do see what you're saying but don't you think Ron would be foolish to make specific predictions? They are more likely to be wrong than right.
    You can find me at: Energise Web Design

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    • Well, if you believe that a 500k home is going to be 2 million in 16 years time; then you seem to be predicting a boom in incomes.

      Comment


      • Originally posted by speights boy View Post
        Well, if you believe that a 500k home is going to be 2 million in 16 years time; then you seem to be predicting a boom in incomes.
        Or a reduction in waistlines!

        Many people go on about how we used to only pay 3x annual income for a house and it needs to go back to that. Well... different times, different priorities. However, if we're currently sitting at 6-7x annual income, I can't see there being a lot of room for house price growth from extra debt servicing without growth in incomes. It might come from rampant inflation... lots of people have been expecting that for a while.
        You can find me at: Energise Web Design

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        • Originally posted by drelly View Post
          Eh? Alternatively... listening to both sides before expressing an opinion.


          Lissica ... I do see what you're saying but don't you think Ron would be foolish to make specific predictions? They are more likely to be wrong than right.
          He's already made one....that there will be a 'boom of all booms'. Surely he has some idea what it means to him, because it probably means something different to you or me.

          That's why I wanted clarity.

          Not asking for a specific number, just a minimum condition for something to be a 'boom of all booms', in the opinion of the poster who made that prediction. I hope he's right and I hope he sets high benchmarks for a boom, because if we weren't property investors, we wouldn't be here.

          Comment


          • Originally posted by Lissica View Post
            He's already made one....that there will be a 'boom of all booms'. Surely he has some idea what it means to him, because it probably means something different to you or me.
            Well Lissica, he thinks a 500k property being worth 2 million in 16 years time is just history repeating itself.

            Factor in 'the boom of all booms' and the answer is clear.



            This equals 18,446,744,073,709,551,615 (18.4 quintillion).


            That reminds me.

            George Bush was receiving his daily report from his Defence Secretary, Donald Rumsfeld.

            During the report, he said; "And yesterday, three Brazilian soldiers were killed in Iraq." George suddenly went pale, put his head in his hands and began to sweat profusely.

            His staff were astounded. They had never seen him react like this to this little. After he had recovered slightly, he brought his head up and asked; Just how many is a bazillion?
            Last edited by speights boy; 30-01-2012, 09:28 PM. Reason: that reminds me

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            • I note that in the herald for the past 2 days, negative comments around rent rises and the desperation tenants have in finding good properties to rent, (especially in central auckland) commentators have
              sited various reasons from falling building consent numbers to rising rates/insurance and loss of depreciation. I have noticed the change in rents, but think to maximise your income you need to present
              your properties well and stand out from the rest.

              It really could not be a better time for investors, low interest rates, high tenant demand, & low building consents all looking to push up rents and equity.

              Could this be the start of the "Boom of all booms"

              FH

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              • i've got a millionaire? friend

                who used to rent in santa monica, california

                he really wanted to buy there

                but couldn't afford it

                people moan about not being able to rent $1,000,000 homes in mount eden, ponsonby, parnell etc for $550pw

                test out you math on the investment return there
                have you defeated them?
                your demons

                Comment


                • Originally posted by eri View Post
                  i've got a millionaire? friend

                  who used to rent in santa monica, california

                  he really wanted to buy there

                  but couldn't afford it

                  people moan about not being able to rent $1,000,000 homes in mount eden, ponsonby, parnell etc for $550pw

                  test out you math on the investment return there
                  Strong capital growth areas have a tendency to give much lower yields, as does high cash flow areas like Sth Auckland give higher yields but low capital growth.

                  Looks like the tip of a coming rent boom which will precedes a property boom.

                  Ron Hoy Fong
                  RonovationZ

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                  • and Ron

                    when all those retiring baby boomers

                    cash in their chips and move on

                    in 50 years time

                    there just may be

                    insufficient cashed up x-gen'ers and immigrants

                    to support exponential real estate values
                    have you defeated them?
                    your demons

                    Comment


                    • Originally posted by spurner View Post
                      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".
                      I find with my bank that the staff change around every 6 months. I had a go at the new guy recently telling him I may as well not bother getting to know him because he'll be moving on shortly! I got the usual "I've been in this area for ten years..." talk, but I bet he'll be moving on shortly.

                      So I find it very hard to build a relationship with the bank. They even disestablish whole departments/business areas and replace them with some new department that is supposed to be the be all and end all. And tell you how important you are blah blah blah...
                      Squadly dinky do!

                      Comment


                      • Originally posted by eri View Post
                        .....
                        to support exponential real estate values
                        To put it another way...

                        You have been offered a job contract for exactly 30 days and 30 days only. You have to choose between two ways of being paid:
                        1) $100,000 a day
                        or,
                        2) You start at one penny for your first day, but every day your pay doubles. (i.e. your pay on day 2 is two pennies, and day 3 is four pennies, etc.)
                        Which pay structure would you choose?

                        http://www.theglobeandmail.com/globe...rticle2317924/

                        Comment


                        • Originally posted by RonHoyFong View Post
                          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

                          I had friends who use to criticize me for working hard, doing O/T and investing my saving as they smoked, drinked, partied, gambled, and did their O/E. Surprisingly when they came back from their O/E they would ask if I had any cheap accommodation for them. Naturally I always said no because I was not here to subsidize them and also I wanted to be in a position to increase rents to market value without regrets.

                          Not surprising I would rather associate myself with like minded people who want out of the rat race.

                          I am here to give my advice to you and others on how to be the 1% of NZ population who have 5 or more properties, so stop asking me silly theoritic questions that have nothing to do with Property Investing.

                          Look at the historical facts which is the best answer to your question, future guesses is your choice and good luck to you.

                          As to the boom, read Keirins book, I consider him as the best expert in this field and his book is over 100 pages with stats and diagrams. I am not prepared to explain his reading in just a couple of paragraphs which would otherwise answer your questions.

                          Ron Hoy Fong
                          RonovationZ
                          Nice, I like that, well said, give it up speight 'Boy" and listen to the 'man"

                          Comment


                          • Originally posted by RonHoyFong View Post
                            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
                            Nice points, I can add to one of the issues that can sidetrack and nobble you, and that is getting a flat consented in a home an income, about as dangerous as futrures and successful as lotto.

                            Comment


                            • Originally posted by Lissica View Post
                              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.



                              It doesn't say very much.
                              Its a bigger boom than normal, meaning prices go up faster than they did in other booms, the biggest boom of all ????
                              Its pretty obvious.

                              But likely wrong, Ron has made mistakes in his predictions before, just watch his DVD series in early 2000's I think, maybe about 2004 / 2005 was it Ron ????
                              The boom 2002 to 2007 was pretty big, I dont think we will have a repeat of that.

                              But I hope Ron is right

                              Comment


                              • Originally posted by Bluekiwi View Post
                                Its a bigger boom than normal, meaning prices go up faster than they did in other booms, the biggest boom of all ????
                                Its pretty obvious.

                                But likely wrong, Ron has made mistakes in his predictions before, just watch his DVD series in early 2000's I think, maybe about 2004 / 2005 was it Ron ????
                                The boom 2002 to 2007 was pretty big, I dont think we will have a repeat of that.

                                But I hope Ron is right


                                You never know what the future will throw at you.

                                But one thing is certain.

                                Whoever is most prepared for the boom, whoever will gain the most reward =)

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