Greed and Financial Literacy

[Ageo]

Re: GREED Financial Literacy and Property

But direct a more focused question to me and I would be happy to help you. Maybe we can start with something simple....

Did you know that you can buy property with NO MONEY DOWN and manage that property and even pay that property off using NONE OF YOUR OWN MONEY???

GEKKO.

That would be a good question to start off with hows is this done?

 

[nunthewiser]

Re: GREED Financial Literacy and Property

i dont think he is and i personally have an understanding how its done using equity in another property and tenancys , coupled with the right loan, can be done

and im illiterate

BUT my experience in said matter was in a different envireoment , houses were cheap , a positively geared investment . i dare say using the right wizardry it is still achievable and also would be intrested to hear the answer to the question put previously on how , especially in current envireoment where the rent to mortgage factor is unbalanced to the wrong side of the line

 

[Glen48]

Re: GREED Financial Literacy and Property

I make my money in BULL and BARE markets...naked short selling???
Every thing is governed by supply and demand... Greed starts when demand exceeds supply which is all well and good until the demand drops off because the item/s has priced themselves out of the market.
Some one buys a house for 400 and puts it on the market for 500 no buyers so they drop the price and a chain reaction starts and the house of cards comes tumbling down. The ones with the Financial training or those who have been self taught are the ones how should get out unscathed however they are trapped because they have to abide by the same set of rules use by those who are consumed by greed.
Some ones perception of Wealth/Greed might be completely alien to another.
When ever I see some one with a 30Ft Boat being towed by a $120,000 Range Rover I see some one who wants to be recognised as a wealthy person and this is one way he can display his status.
Greed and the amount it governs you is genetic.

 

[nunthewiser]

Re: GREED Financial Literacy and Property

off topic as usual .......BUT i also have watched "wall street " and remember that at the end of the day young gordon gekko ended up sharin a cell with a good lookin luvva boy named "bubba " well that aint exactly true but hey never let the facts get in the way of a good story they say

 

[GordonGekko]

Re: GREED Financial Literacy and Property

Did you know that you can buy property with NO MONEY DOWN and manage that property and even pay that property off using NONE OF YOUR OWN MONEY???


Are you for real or taking this piss ???????

No, I am for real.

GEKKO.

 

[adobee]

Re: GREED Financial Literacy and Property

i dont think he is and i personally have an understanding how its done using equity in another property and tenancys , coupled with the right loan, can be done

and im illiterate

If you are using equity in another property it is the same as putting money down you are simply redrawing on it.. You would be hard pushed (I would say it is impossible) to find any property that is going to have capital growth that you can borrow 110% of (110% being no money down to cover your stamp duty solicitors fees etc) and collect rental that exceeds your interest repayments plus outgoings.. (Even if you say its all tax deductable etc etc you wont get to a point where your costs are covered).. Dont start believing your own bullsh*t !

 

[white_goodman]

Re: GREED Financial Literacy and Property

the worst characteristics of humans are brought about in circumstances where there is a lack of money, financial abundance is good..

 

[nunthewiser]

Re: GREED Financial Literacy and Property

If you are using equity in another property it is the same as putting money down you are simply redrawing on it.. You would be hard pushed (I would say it is impossible) to find any property that is going to have capital growth that you can borrow 110% of (110% being no money down to cover your stamp duty solicitors fees etc) and collect rental that exceeds your interest repayments plus outgoings.. (Even if you say its all tax deductable etc etc you wont get to a point where your costs are covered).. Dont start believing your own bullsh*t !

LOL oh dear , ok here is an example . queenstown tasmania , purchase price $48k , purchased on a investment loan using equity on another house , borrowed purchase price and extra 15 k to cover costs of purchase PLUS to cover new carpet

rented out at $ 140/week

sold 70k

no bull about it

avaniceday

 

[white_goodman]

Re: GREED Financial Literacy and Property

If you are using equity in another property it is the same as putting money down you are simply redrawing on it.. You would be hard pushed (I would say it is impossible) to find any property that is going to have capital growth that you can borrow 110% of (110% being no money down to cover your stamp duty solicitors fees etc) and collect rental that exceeds your interest repayments plus outgoings.. (Even if you say its all tax deductable etc etc you wont get to a point where your costs are covered).. Dont start believing your own bullsh*t !

you are correct sir, youd be hard pressed to find a cash flow positive property that isnt in a mining town

 

[nunthewiser]

Re: GREED Financial Literacy and Property

i dont think he is and i personally have an understanding how its done using equity in another property and tenancys , coupled with the right loan, can be done

and im illiterate

BUT my experience in said matter was in a different envireoment , houses were cheap , a positively geared investment . i dare say using the right wizardry it is still achievable and also would be intrested to hear the answer to the question put previously on how , especially in current envireoment where the rent to mortgage factor is unbalanced to the wrong side of the line

yawns ...getting bored with my posts being taken out of context

 

[nunthewiser]

Re: GREED Financial Literacy and Property

i dont think he is and i personally have an understanding how its done using equity in another property and tenancys , coupled with the right loan, can be done

and im illiterate

BUT my experience in said matter was in a different envireoment , houses were cheap , a positively geared investment . i dare say using the right wizardry it is still achievable and also would be intrested to hear the answer to the question put previously on how , especially in current envireoment where the rent to mortgage factor is unbalanced to the wrong side of the line

LOL oh dear , ok here is an example . queenstown tasmania , purchase price $48k , purchased on a investment loan using equity on another house , borrowed purchase price and extra 15 k to cover costs of purchase PLUS to cover new carpet

rented out at $ 140/week

sold 70k

no bull about it

avaniceday

hopefully that clears things a little for those that want to pick and choose pieces of my posts

thankyou

 

[GordonGekko]

Re: GREED Financial Literacy and Property

you are correct sir, youd be hard pressed to find a cash flow positive property that isnt in a mining town

I am not talking positively geared investments, I am talking about negatively geard investments.

GEKKO.

 

[GordonGekko]

Re: GREED Financial Literacy and Property

That would be a good question to start off with hows is this done?

A very good question,

And that is why I hold my workshops. For people to learn how to do it, cause yes, it can be done, my last 4 deals I have done that way.

GEKKO.

 

[nunthewiser]

So u are in this forum to gain clients for your workshops ?

or should i say the purpose of your use of this forum is to advertise indirectly your workshops ?

 

[Macquack]

Re: GREED Financial Literacy and Property

I am not talking positively geared investments, I am talking about negatively geard investments.

GEKKO.

Negative gearing means you are going backwards, except if the property appreciates. In this real estate market, I would have thought negative gearing is a risky proposition.

 

[prawn_86]

A very good question,

And that is why I hold my workshops. For people to learn how to do it, cause yes, it can be done, my last 4 deals I have done that way.

GEKKO.

So u are in this forum to gain clients for your workshops ?

or should i say the purpose of your use of this forum is to advertise indirectly your workshops ?

Gordon,

As has been said before, you are more than welcome to contribute, but you MUST follow ASFs code of conduct. You are currently pushing the boundaries.

If you wish to advertise your services then feel free to contact Joe to discuss a payment plan.

Prawn

 

[nunthewiser]

Ooopsies. sorry about that gordon ...... my post previously was only asking as you seemed not to be able to answer the question here as requested but more than happy if we came to the actual workshop, some of us have commitments and unable to jet over to the goldcoast on a whim and hey u did ask previously for questions ...............

 

[numbercruncher]

lol !!


How did I know that Gekko was here to peddle his snake oil ....

Credit crunch starting to bite huh ?

How much do you charge people to find out the secret of obtaining houses for free or no money down paying themselves off as you put it ?

 

[GordonGekko]

So u are in this forum to gain clients for your workshops ?

or should i say the purpose of your use of this forum is to advertise indirectly your workshops ?

No, I go on this forum to talk to people.

I also hold workshops. If I wanted business, i'd say, hey wanna come to my workshops?

I create this discussion for the reasons listed in my thread.

GEKKO.

 

[GordonGekko]

lol !!


How did I know that Gekko was here to peddle his snake oil ....

Credit crunch starting to bite huh ?

How much do you charge people to find out the secret of obtaining houses for free or no money down paying themselves off as you put it ?

Well, NOT that I am wanting any business from here as this is against ASF policy (thank you Prawn) but I don't charge, that is the whole point.

What credit crunch??? I never find it hard to get credit.

GEKKO.