Spruiker

[muppet]

Hi Guys

Definition of a spruiker:

spruiker
noun

1. (Australian) One who promotes his own cause; one who toots their own horn.
2. (figurative) A person standing outside a place of business trying to persuade patrons to enter, or vigourously trying to persuade customers to purchase a their wares (ie. a fruiterer calling out the price of bananas).

http://www.allwords.com/word-spruiker.html

Regards

[muppet]

Beware The Property Spruiker

When I hear 'unlock your equity to create massive wealth' I get nervous. When I hear someone imploring me to join their "investment club" and that I will get guaranteed rentals and financial freedom, I break out into hives. Unlike financial advisers, property spruikers proffer their unregulated and sometimes dangerous advice all too freely.

I cannot hold seminars or give people advice about the share market without falling fowl of the federal securities laws regulated by the Australian Securities and Investment Commission (ASIC). So why is it that anybody can hold an 'investment seminar' and spruik about how to 'create wealth' using property investments? It is because the powers over property transactions lie within the statutes of each state and territory. ASIC has taken on cases like Henry Kaye and we have seen disasters such as the Westpoint collapse but most unscrupulous spruikers, sadly, fall through the loop hole.

Out of morbid curiosity I heard one set of tapes recently by a well known property spruiker. He encourages investors to gear themselves up to buy as many properties as possible. There was never any mention of how to service the debt nor any mention of the possible pitfalls. In many places in Australia, sluggish price growth and rising interest rates means that the combined capital growth plus income doesn't cover the costs of the investments.

This means that for every young couple that own 50 properties in 2 years and write a book about it, there are many, many more that go bankrupt trying. Heavily gearing means growth is compounded but so are losses. To think how many average Australians took equity out of their family homes and bought dud investments through Gold Coast investment schemes.

The only advice I give anyone is to consult with an accredited financial advisor before making any investment decision. With nationwide state and territory labor governments, this is a unique time for them to all agree to refer these powers to ASIC before more unsuspecting investors get ripped off.

[email protected]
Posted by Michael McNamara
April 27, 2007 12:27 PM

http://blogs.domain.com.au/2007/04/beware_the_property_spruiker_1.html

[PeterEmpowerEd]

And now let's use that word in context...

Definition of a spruiker:
http://www.allwords.com/word-spruiker.html

Hi Bob,
I think 'spruiker' is a useful word.
Here's how Olly Newland used it in The Day the Bubble Bursts...



And I used it in How to Survive and Prosper in a Falling Property Market:



This doesn't win us any friends in certain circles ... but there it is.
Regards,

[whitt]

This doesn't win us any friends in certain circles ... but there it is.
Regards,

I guess that is a side effect of being independant.

You call it as you see it even if you get harassed by those who may lose from the info.

The good news Peter is that you and Olly are not the only people who have problems at times being independant. Many others face a similar situation also.
Take the owners of PT for example. They do there best to stay independant despite the outside influences.

I guess Kieran Trass may be in the same boat soon also.

Lets hope you all can stay independant and tell it like it is.

Maybe ( Kieran, Olly, PT owners & Peter) could setup there own private exclusive club. Only independents allowed.
You could sit around drinking Jungle Juice (JJ) or even go on crazy adventures together.
Amazon tour anybody? I bet Olly would have some great stories once he had a bottle or two of JJ under his belt.

[PeterEmpowerEd]

Take the owners of PT for example. They do their best to stay independent despite the outside influences.

I take my hat off to them and also to the moderators (blessings be upon them). I know it's tough at times, with cynical threats & manipulations, workload pressure and loose cannons -- but they have my support. I know there are some (including the 'technical architect') who just want a quiet life and for it all to calm down. Regrettably, chums...

The price of freedom is eternal vigilance -- attributed to Thomas Jefferson (way before internet forums).

Has anyone else noticed the 84,000 (and counting) views on the Blue Chip thread? Wow. It's easily eclipsed the infomercial threads and is creeping up on the Richmastery thread -- which had a mention in the NZ Herald's recent Blue Chip coverage...

Not that Blue Chip is the only property organisation exciting attention among participants in the [PropertyTalk] forum. Even more traffic has been generated by debate about an entirely separate business, Richmastery, which by Monday this week had generated 1800 posts and 115,000 views.

NZ Herald

That sort of traffic is a testimony to people's belief in PropertyTalk's independence (long may it last) and PT can and should be proud of it...

- regards, Peter

PS Whitt: an 'exclusive' club!?! Er, one more quote...

I refuse to join any club that would have me as a member.