All Topics / General Property / A whinge from someone who couldnt be bothered doing better.

Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of xdrewxdrew
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    @xdrew
    Join Date: 2010
    Post Count: 479

    As usual THE AGE (read FAIRFAX) directs me to an article trying to scare people from buying or investing in property.

    http://www.dailylife.com.au/life-and-love/real-life/i-bought-a-house-and-regretted-it-20130816-2s0t4.html

    And as usual it pretty much sums up how to get it wrong with property.

    She's purchased the property and immediately next day she's having regrets. WELL WHY BLOODY PURCHASE IT THEN !

    She didnt consult her base of knowledge or investigate to see what she should or could get. FAIL NUMBER ONE.

    She knew what she wanted in her property and didnt bother to check during an inspection that it matched up to her requirements. FAIL NUMBER TWO.

    Its small at 50sqm .. even for a 1br thats small. FAIL NUMBER THREE. And its Art Deco = OLD+Problem Potential. There wasnt a nice new unit available?

    She is trying to service it without having a job behind her or a source of income to support it. FAIL NUMBER FOUR

    She didnt even bother to check the Body Corp fees (a MUST if you are purchasing in a collective group of properties). FAIL NUMBER FIVE.

    So as usual, THE AGE writes up a summary from a liberal know it all who did nothing right and blames PROPERTY for making her world miserable.

    Sad when you actually look at the facts.

    Profile photo of jmsracheljmsrachel
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    @jmsrachel
    Join Date: 2012
    Post Count: 711

    what a waste of an article. clearly she’s an idiot!

    Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    What a crappy article..

    I dislike people who make rash decisions and expect others to feel sorry for them when some thing goes wrong.

    I read an article the other day where a couple who knew nothing about the share market borrowed 100k+ on their house and they end up loosing all of the money.

    because a "adviser" gave them some advice…

    I bet if they made a profit they wouldnt be crying out poor.

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
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    Your first port of call in finance :)

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    I can't believe this is news worthy. Someone who didn't carry out due diligence and disregarded advice bought a property that they ended up regretting. I'm sure it happens all the time.  

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of wilko1wilko1
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    @wilko1
    Join Date: 2010
    Post Count: 510

    I like how she complains about having a 6 figure balance to repay. What did the bank not inform you of how much you were borrowing mam. I'm sorry that comes as a shock to you.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    Did she not use a solicitor or conveyancer who explained the contract to her?  Oh she sold the unit, was it at a healthy profit?

    Profile photo of Wendy ChamberlainWendy Chamberlain
    Participant
    @moorew
    Join Date: 2003
    Post Count: 58

    Total lack of due diligence.  Silly woman.

    Wendy Chamberlain | Chamberlain Property Advocates
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    Melbourne Buyers Agent & Sellers Advocate | Independent | Flat Fee

    Profile photo of Nigel KibelNigel Kibel
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    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    The problem is that people do less due diligence on an investment property than hey would a blue ray player. If you buy something and regret it because you have not done your own due diligence then you only have yourself to blame.

    Nigel Kibel | Property Know How
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    Profile photo of PLCPLC
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    @plc
    Join Date: 2012
    Post Count: 400
    Nigel Kibel wrote:
    The problem is that people do less due diligence on an investment property than hey would a blue ray player. If you buy something and regret it because you have not done your own due diligence then you only have yourself to blame.

    This is what really surprises me no end. People will do all their homework and consult for minor stuff, yet when buying a $500K property they don't want to spend an extra few thousand and consult professionals but instead attempt to save costs by trying to do things on their own (i.e. taking out loans through websites, doing their own conveyancing, etc).

    Most of the time this decision ends up costing them more in the long run.

    Cheers,

    Tom

    PLC | Phoenix Loan Consulting
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    Melbourne based Mortgage Broker | Making Finance Simple

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