Real Estate Talks

by **Taipan** » Fri Apr 20, 2012 4:02 pm

The music is going to stop sooner or later, and then its off to the slaughter yards for all the bulls and massive feasting for the bears.

by **semven** » Fri Apr 20, 2012 4:22 pm

Taipan wrote:The music is going to stop sooner or later, and then its off to the slaughter yards for all the bulls and massive feasting for the bears.

Profound:

And by saying this you assume that the day after you buy at your 50% + discount that RE Prices will take off back to todays prices? The wasteland that your apocalyptic projections would leave would make you trade in your imaginary Jaguar for a pair of rollerblades.

by **Taipan** » Fri Apr 20, 2012 7:30 pm

No rat, I understand property, unlike you. There is a whole generation of people under 45 who have never seen a property crash. Let alone a bubble burst.

I have had that experience and experience shows you the signs to look out for, and allows you to place yourself on the right side of the boom and bust.

As for my recent purchase.

If it is worth what i paid for it in 10 years time ill be satisfied i bought near the bottom of that market.It wont be going up in price 30% 40% or 50%. No, it will most likely stay around what I paid for it. +or-10% yes it may still fall a little further but not too much further.

How can I tell that. Because as a real estate valuer Im experienced in valuing property and all I needed to do was to identify sales from before the bubble and buy at a similiar price. I showed that at the begining of the thread.

My old mate ratty would have you buy at the very top of the bubble, and lose big time

See todays prices in Vancouver are the same as they have been all round the world in bubble property markets. Bubble prices. Stupidity by stupid and greedy people

Vancouver is worse then where I bought elsewhere in BC, and its overvalued 50% - 60%

One by one all of those bubbles have popped just like yours will and looks like it has already started

Have you noticed how the USA prices rebounded back to their highs. Oh wait they didnt. They went down and stayed down. Same as all round the world. Same as what will happen in Vancouver.

Off to Sydney tomorrow, (500km) to get the Jag serviced. Nice little drive with the top down. So much easier then on roller skates!

by **eyesthebye** » Sat Apr 21, 2012 7:18 am

"Taipan"

Off to Sydney tomorrow, (500km) to get the Jag serviced. Nice little drive with the top down.

so you live in Wagga Wagga?

You should stick with GICs taipan. You've already lost 65% on your Jag and just started losing on your rec property.
Nice to have money to burn.

by **semven** » Sat Apr 21, 2012 9:38 am

EXPAND VIEW TOPIC REVIEW: BUYING FOR VALUE – A BEARS TALE!
Re: Buying for Value – A bears tale!
by eyesthebye » Sat Apr 21, 2012 8:18 am

"Taipan"

Off to Sydney tomorrow, (500km) to get the Jag serviced. Nice little drive with the top down.

y recent purchase.

If it is worth what i paid for it in 10 years time ill be satisfied i bought near the bottom of that market.It wont be going up in price 30% 40% or 50%. No, it will most likely stay around what I paid for it. +or-10% yes it may still fall a little further but not too much further.

How can I tell that. Because as a real estate valuer Im experienced in valuing property and all I needed to do was to identify sales from before the bubble and buy at a similiar price. I showed that at the begining of the thread.

My old mate ratty would have you buy at the very top of the bubble, and lose big time

See todays prices in Vancouver are the same as they have been all round the world in bubble property markets. Bubble prices. Stupidity by stupid and greedy people

Vancouver is worse then where I bought elsewhere in BC, and its overvalued 50% - 60%As

ETB Sell now and buy Sun Peaks. Invest whats left in Jaguar Motors stock. :roll:

by **Taipan** » Sat Apr 21, 2012 3:19 pm

eyesthebye wrote:
"Taipan"

Off to Sydney tomorrow, (500km) to get the Jag serviced. Nice little drive with the top down.

so you live in Wagga Wagga?

You should stick with GICs taipan. You've already lost 65% on your Jag and just started losing on your rec property.
Nice to have money to burn.

It is isnt it.

You have to understand how to make it first, before you have the luxury of burning some of it.

I doubt youll ever find out, because you dont have the courage to get out of the market.

Youll ride it up, and then ride it back down, to a zero sum game.

by **eyesthebye** » Sat Apr 21, 2012 4:03 pm

Taipan wrote:
eyesthebye wrote:
"Taipan"

Off to Sydney tomorrow, (500km) to get the Jag serviced. Nice little drive with the top down.

so you live in Wagga Wagga?

You should stick with GICs taipan. You've already lost 65% on your Jag and just started losing on your rec property.
Nice to have money to burn.

It is isnt it.

You have to understand how to make it first, before you have the luxury of burning some of it.

I doubt youll ever find out, because you dont have the courage to get out of the market.

Youll ride it up, and then ride it back down, to a zero sum game.

are you selling your principal residence? I doubt you have the courage to get out of your market taipan

by **Taipan** » Sat Apr 21, 2012 11:43 pm

During the 90's i spemt the entire decade renting. I had sold my home and risked it all to put into my business. Mid 90's (market was flat) i bought my land, upon which i eventually built my house.

Lets see, prices would need to fall to 1990 levels for me to go backwards on my principal residence.

Youve indicated youll start going back at 2008 levels. Lucky you have 20% equity when you started because you will need it.

However most people who bought since 2007, with 100% finance, and in the belief that property prices are only go up, are going to take a bath. Not only are they going to have no equity, they will be trapped owing more then when they started.

And if they had just rented, it would have all been ok.

The current conditions economically are a 1 in 80 year event. I would hate to be exposed to one of these events with a current LVR>80. You will lose big time. Anyway youve been warned

by **semven** » Sun Apr 22, 2012 7:47 am

Tee Hee a Developer that rented for a whole decade.....Your Fairy Tale is original Taipan...(Hint) If you are going to lie you should remember the lies before.

by **Taipan** » Sun Apr 22, 2012 8:53 pm

Just remember ratty that fiction has to make sense, non fiction doesnt.

See thrillseekers - in rattys world - your born a developer - you some how take over a fifty million dollar property empire at 18 with no experience. You immediately establish yourself as the key player in a cartel controlling all supply of land in the region, you borrow like there is no tomorrow, every deal is a success, you flash around in private jets and are welcomed with open arms in 5 continents. Can speak 7 languages, have super models hang off your arm and you never lose money ever. Actually sounds more like the plot of a movie then reality.

Here somebody i could sit down and have a cup of coffee with and we would immediately understand each other. Sometimes being too smart is not going to get you there.

See i know just like Joe what its like to take some worthless land and turn into $40 or $50 million. Similiar time frames as well. We have ridden a massive property boom and bubble up. If you have got your borrowings down low, and the properties produce a good income stream, then you will be fine through a bubble bust. Otherwise you will just be road kill.

by **semven** » Mon Apr 23, 2012 9:14 am

Here somebody i could sit down and have a cup of coffee with and we would immediately understand each other. Sometimes being too smart is not going to get you there.

I actually contracted to the Bosas in the 80s.Then they had a retail grocery store in E Van as their primary income,and some rental properties. Trust me Taipan, they wouldnt waste any time with you.

by **Taipan** » Mon Apr 23, 2012 3:14 pm

So you contracted to him 30 odd years ago, and now you know who he would and wouldnt talk to and meet. What, you bonking his secretary or something?

Brilliant I love it!

You dont know me. You dont want to know me, because I dont follow the party line, of yelling buy buy buy.

Bosa and I are not dissimiliar, except ive gone bearish, and that is unacceptable.

He and I are first generation, pull yourself up by your bootstraps property developers. The question is whether we will still be in business in ten years time. When bubble crashes, over 80% of developers go broke. Its so long since you have had a major crash, few of you can remember. Certainly not the rat

I wonder whether he would ever talk to you these days! Mentally youve put him on such a high pedestal, when all he is, is another business man.

Thats your problem ratty, your delusion of this property bubble is totally clouding your judgement.

Now your just looking foolish. You remind me of cat from the comedy series "Red Dwarf", yelling, "Im big, Im big"

addendum

Cat saying "I better make myself look big"

http://www.youtube.com/watch?v=UtVIvmOPHOQ

Reality sharp dressed man looking foolish!

by **semven** » Mon Apr 23, 2012 6:56 pm

Taipan wrote:So you contracted to him 30 odd years ago, and now you know who he would and wouldnt talk to and meet. What, you bonking his secretary or something?

Brilliant I love it!

You dont know me. You dont want to know me, because I dont follow the party line, of yelling buy buy buy.

Bosa and I are not dissimiliar, except ive gone bearish, and that is unacceptable.

He and I are first generation, pull yourself up by your bootstraps property developers. The question is whether we will still be in business in ten years time. When bubble crashes, over 80% of developers go broke. Its so long since you have had a major crash, few of you can remember. Certainly not the rat

I wonder whether he would ever talk to you these days! Mentally youve put him on such a high pedestal, when all he is, is another business man.

Thats your problem ratty, your delusion of this property bubble is totally clouding your judgement.

Now your just looking foolish. You remind me of cat from the comedy series "Red Dwarf", yelling, "Im big, Im big"

by **semven** » Mon Apr 23, 2012 6:58 pm

Taipan, I have nothing to gain by continuing this. It seems cruel.

by **gobigorgohome** » Mon Apr 23, 2012 7:25 pm

semven wrote:Taipan, I have nothing to gain by continuing this. It seems cruel.

+1

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