2009 and the Year Ahead
Welcome back everyone to 2009.
I have finally got the kids off to school and back into my office, caught up on all the backload and I am back to work for the year rested and hugely excited about what 2009 is going to bring, and I think all of you should be the same.
Over the next 12 months we are going to see an enormous amount of wealth created. There are going to be fortunes made over the next few years and what it comes down to is the ability for people to see through the media hype, see through the political venture that is going backwards and forwards and actually get back to basics.
Start to have a look at the fundamentals that underpin the market and that is what I encourage you to do throughout all of 2009.
Now I do not have a crystal ball so I don’t know what interest rates are going to do over the year. I do not have a crystal ball as to what individual markets they are going to do in your particular town.
But what I do have is a very sound grip of economics and in particular, microeconomics and how it affects the real estate market.
I’ve recorded an audio to give you my insights for 2009. I think it’s a good way to start the year off.
Click play to listen to this episode, or right-click, “Save Target As” here to download the MP3 to your computer.
Have a good year. I’m looking at starting out of the blue for a big year this year. people will be able to follow my personal 10 Year Millionaires Video Blog one renovations i’m doing for positive cashflow. I’m not a guru, i’m not an advertiser, and i’m not selling anything.
Go for it weather the economic market is good, bad or ugly!! I’m going stronger then i’ve ever been able to in the worst Australian economy in a long time.
It’s just a general person documenting investing goals and others can comment and post investor video blogs as well.
Jaffasoft
Agreed completely, confident is what we need, minus the media. All signs are showing the year of Ox or year 2009 is going to be a great year.
Borrowing money is not an issue, just got a loan, the bank did not even value the property. This is what Dymphna been saying for years, get the credit sorted. Put the deal together and the money will follow.
Yes I agree with you Dymphna many people are all set to profit wildly from the misfortune of their fellow countrymen. For every great deal that you put together there is always some poor individual on the other side who is losing out. As one who is on the other side of the equation in this (ie. a forced seller due to projects being abandoned because of the financial crisis) I feel caught in a downward spiral where there is no way out - income dried up, no way to service loans, fire sales and when the dust settles no better off for my attempts to invest in Real Estate. I know it should be a long term to eternal investment, but when you are forced to sell early,the costs are astronomical - Stamp Duty, break or early payout fees on your loan, Agents commission etc. all combine to compound your loss even further. My whole experience in Real Estate investing has left me wiser but very much poorer - how else do you learn I suppose? It all comes down to timing and I entered the market at exactly the wrong time - things had been too good for too long and I was fooled by the hype of so called wealth creation experts.Never again and good luck to you and all the others who have positioned yourselves to take advantage of my mistakes. The whole thing pales to insgnificance anyway when you see the misery and suffering that is occurring with the Victorian bushfires.
Tim, I am in a similar position as you. I too was caught in the hype and property gurus saying that NOW is the right time to buy and to keep buying and get over your ‘poverty mentality’. Now because I invested in one of investments that was selling at a property seminar presented by a very ‘reputable’ property guru, i have been set back many years financially as the investment has gone belly-up and I will be repaying this load for decades. The guy selling the investment was/is living a life of luxury. I do accept responsibilityf for my own stupidity. Some people have even had to sell their homes because of it.
Take care. Only trust yourself. Don’t even trust those who you believe would be honest.
Whateva… Like I feel for you who have had bad experiences… I’m glad you are owning these “mistakes” as your own not the fault of others, but you must understand that you created all of these events to take place in your life…
Quoting Tim:
“Yes I agree with you Dymphna many people are all set to profit wildly from the misfortune of their fellow countrymen.”
Why do I get the impression that you will not be one of those who stand to profit wildly and that you almost look down upon anyone who may?
Quoting Tim:
“For every great deal that you put together there is always some poor individual on the other side who is losing out…”
This is not necessarily true especially if you have heart and good moral, ethics etc. I always stand to help people out as I do business so that it is always a WIN-WIN-WIN situation.
Again quoting Tim:
“My whole experience in Real Estate investing has left me wiser but very much poorer - how else do you learn I suppose?”
Well what do you expect with a belief like that? I mean you obviously believe that you must go through a whole bunch of crap experiences and wind up worse off to learn….
Again quoting Tim:
“It all comes down to timing and I entered the market at exactly the wrong time - things had been too good for too long and I was fooled by the hype of so called wealth creation experts.”
Yes it is true that this is the best time in history to invest in property in a big way, but it is also true that anytime is a good time to invest in property…
Quoting Wendy:
“Only trust yourself. Don’t even trust those who you believe would be honest.”
This is rubbish…. Just get rid of the belief that you can’t trust people and you will attract people you can trust. You won’t manifest people who will take advantage of you…. Plus it would not hurt to go ahead and clear your other money beliefs etc whilst you’re at it, then you will actually pick investments without self sabotage and they won’t turn out to be lemons….
Plus you both may feel that you have been set back many years on your path to financial freedom, but as Dymphna says, ” Don’t use that as your crutch!” It does not matter what your situation is, there are always ways to get around your short comings and turn it around very quickly.
Once more quoting Tim:
“Never again and good luck to you and all the others who have positioned yourselves to take advantage of my mistakes.”
Firstly I feel the best step is to stop playing victim and get back on the horse…
The reason there will be many of us who will profit from your mistakes as you put it IS because we have done a lot of due diligence; and I’d like to add that LUCK = Labor - Under - Correct - Knowledge…. WE MAKE OUR OWN LUCK!
Again you just need to break those negative beliefs/ limitations not to mention SEEK FURTHER KNOWLEDGE and mentoring and TAKE ACTION!
This is just my humble opinion, most respectfully:)
Thank you Eric and Daniel for the words of enthusiasm with regards to this year being bright and full of opportunity! 2009 will indeed be a year with many stepping into the abundance that we so deserve.
To Your Success
Warm Regards