Hi All,
I've recently finished reading a book titled The Truth About Residential Property Investment, by Duncan Balmer. While I won't comment on the book, I thought I'd share something from it I found both amuzing and odd. At the beginning of the book was this selection of quotes:
Needless to say, the author does not come down on the side of RE agents.
On the more serious side, Balmer does make an interesting point about RE agents giving financial advice, in the form of "this would make a good investment". From what I know, a Govt. taskforce is currently looking into compliance issues for financial intermediaries, including RE agents. I think that if RE agents are going to hand out such advice, they ought to have a similar level of qualification to others who hand out financial advice. I've seen lots of properties advertised locally as "great investments", none of which come even close to being CF+ive pre-tax. Most of these properties do not even make CF+ive after tax, even with no maintanence and massive depreciation.
Anyone else out there have interesting quotes from PI books? While I'm at it, I'll take a swipe at the title of Martin Hawes' latest book, 20 Good Summers. I say, get a winter pastime, then you'll have 40 good seasons to look forward to, rather than hanging out for summer. (I personally prefer winter to summer - the fishing is better. But the fishing's also good in spring, summer, and autumn. )
Paul.
I've recently finished reading a book titled The Truth About Residential Property Investment, by Duncan Balmer. While I won't comment on the book, I thought I'd share something from it I found both amuzing and odd. At the beginning of the book was this selection of quotes:
'Buy now and secure your future'
Property is still a good investment, and always will be'
Lovely home for your family - and a great investment
Your friendly real estate agent
'The broad mass of a people will more easily fall victim to a big lie, than to a small one'
Adolf Hitler
Property is still a good investment, and always will be'
Lovely home for your family - and a great investment
Your friendly real estate agent
'The broad mass of a people will more easily fall victim to a big lie, than to a small one'
Adolf Hitler
On the more serious side, Balmer does make an interesting point about RE agents giving financial advice, in the form of "this would make a good investment". From what I know, a Govt. taskforce is currently looking into compliance issues for financial intermediaries, including RE agents. I think that if RE agents are going to hand out such advice, they ought to have a similar level of qualification to others who hand out financial advice. I've seen lots of properties advertised locally as "great investments", none of which come even close to being CF+ive pre-tax. Most of these properties do not even make CF+ive after tax, even with no maintanence and massive depreciation.
Anyone else out there have interesting quotes from PI books? While I'm at it, I'll take a swipe at the title of Martin Hawes' latest book, 20 Good Summers. I say, get a winter pastime, then you'll have 40 good seasons to look forward to, rather than hanging out for summer. (I personally prefer winter to summer - the fishing is better. But the fishing's also good in spring, summer, and autumn. )
Paul.
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