Lol
Couldn't they come up with a better deal??????
So the property has apparently more than doubled in value over 5 years ... sounds ok on the surface.
But any decent guru will tell you to by at a 20% discount ...which means the value of the property was (roughly) $891 .... which means the value hasn't quite doubled in 5 years .... a bit less ok especially if you belive the mantra that property will always double every 7 - 10 years which would mean most of the growth in value is natural and has nothing to do with it being a good deal.
But on the other hand if you believe this.
Well that would mean a 75% discount (which I would say covers the risk of buying mortgagee/foreclosure property quite well) .....so the value of the property 5 years ago was (again roughly) $2.85 million and now 5 years later it's worth $1.6 mill ........ all of a sudden that deal isn't looking quite so flash as the value has dropped by $1.2 mil or 42%.
Don't know about you guys but if I was trying to prove my course was value for money I think I would want to provide a better example of a good deal than that.
Cheers
spaceman
Couldn't they come up with a better deal??????
Originally posted by speights boy
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But any decent guru will tell you to by at a 20% discount ...which means the value of the property was (roughly) $891 .... which means the value hasn't quite doubled in 5 years .... a bit less ok especially if you belive the mantra that property will always double every 7 - 10 years which would mean most of the growth in value is natural and has nothing to do with it being a good deal.
But on the other hand if you believe this.
In advertising for the event, Eckelman promises that those who attend will "learn how to acquire real estate for only 25% of the value of the property", which Letfus admitted was a direct reference to investing in US tax liens.
http://www.stuff.co.nz/business/3929...does-US-u-turn
http://www.stuff.co.nz/business/3929...does-US-u-turn
Don't know about you guys but if I was trying to prove my course was value for money I think I would want to provide a better example of a good deal than that.
Cheers
spaceman
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