December 09 ~ Are you busy livin or busy dyin??
ByPERSONAL UPDATE BY DEAN LETFUS
Another week in paradise as they say. Yesterday’s blog really summed up my feelings at the moment so rather than reinvent the wheel……
I have had 3 journalists in the last 3 weeks contact me asking my opinion on property matters. They were all new to me and had contacted me because they had been reading my earlier blogs on the markets and found my educated guesses to be on the money pretty consistently so it was very encouraging to see my research and homework starting to bear fruit, even though I get labelled as a bit of a pessimist these days 
Today’s news confirmed more of my opinions with the announcement of a third stimulus attempt for Japan and a warning of credit downgrades for the US and UK economies. Given that they are both bankrupt this is hardly a surprise and we must anticipate some further fallout here and in OZ from this ongoing meltdown. Also today, surprise surprise, is data showing that our residential building has dropped by 40%, that is huge, and the supposed recovery in housing has stalled.
This is of course caused by the fact that we are still in the middle of a recession, which the journos seem to have forgotten, and we have more and more people stressed and stretched financially. As I have said earlier expect a huge wave of business failures over Christmas followed by unemployment rises and mortgagee sales in the first 6 months of next year. The recent round of domestic murders is a leading indicator of the level of financial stress in our communities.
So put all of this together [First Name] and there is sadness for many people and families but at the same time enormous opportunity and hope for investors.
Right now there is plenty of property to choose from that is heavily discounted and positive cashflow pretax. As we eventually recover economically we are going to have a ginormous housing shortage because we have stopped building, combined with high inflation. This is a “perfect storm” for property investors because the housing shortage drives values high and inflation reduces your current mortgage size, so you get kissed on both cheeks. Not to mention raising rents.
This really is the time to be putting a plan in place to retire early through property [First Name]. The next recovery and boom is going to be a doozey if these trends continue.
And if you are really serious about that and have some time and energy to take advantage of this perfect storm I have a couple of spots left in my next 12 month intake, more info HERE.
So get control of your financial future today. We may be dead of old age before we see things this good for property investment again [First Name]
Stay Inspired and Stay Safe ~ Dean
The Ethical Investing Strategist
P.S., My Facebook account got disabled so I have lost all of you as friends. Please please refriend me HERE AND become a fan of my Forgiveness page HERE
PROPERTY UPDATE BY DEAN LETFUS
I started talking about negotiation skills in my webinar series on Tuesday and preparing the material reminded me of just how much property was, is and always will be a relationship business. If you really want to develop a sustainable career in property as an investor, agent or tradesman, your success and failure will be determined mostly by how you handle and treat other people.
It’s far more powerful than we realise [First Name]. I remember vividly sitting with a couple negotiating to buy their property. We were nearly done when I asked a question innocently about the local school. It was obviously a question the wife didn’t know the answer to and it became apparent that she felt very stupid and embarrassed by having to admit she didn’t know the answer. I didn’t need to ask the question and it cost me a great property as her whole demeanour changed and we lost the deal as a result.
Making others feel good about themselves in a negotiation is critical
So remember [First Name], the deal is more often than not in the relationship, not in the property ?
PS: IF you want to join us for our next webinar you can get in for a buck!! Click in the button below.
FINANCE UPDATE BY KRIS PEDERSEN
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Kris Pedersen
Finance Strategist |
OCR Review
I’m writing this on Wednesday night but by now while your reading this the Reserve Bank should have announced their Official Cash Rate review and left it again at 2.5%. This is pretty much as certain as you get with these types of announcements. What I would recommend however is having a quick read of the rhetoric that is spun by Allan Bollard. Up until this review the Reserve Bank has stayed very firm that they do not believe they will raise it until the second half of 2010 even though many other economists are still predicting it may be raised before then.
If he drops the ‘second half of 2010’ tag line you may need to change your interest rate strategy if you are floating or due to come off a fixed rate shortly.
If this happens or you just want to talk interest rates in general contact me here.
MINDSET SCIENCE BY DEAN LETFUS
Part of a good mindset is laughing often and seeing Greg sent me this today it is just too funny to not share with you, enjoy!!
These are from a book called Disorder in the American Courts, and are things people actually said in court, word for word, taken down and now published by court reporters who had the torment of staying calm while these exchanges were actually taking place.
ATTORNEY: Are you sexually active?
WITNESS: No, I just lie there.
ATTORNEY: This myasthenia gravis, does it affect your memory at all?
WITNESS: Yes.
ATTORNEY: And in what ways does it affect your memory?
WITNESS: I forget.
ATTORNEY: You forget? Can you give us an example of something you forgot?
ATTORNEY: Do you know if your daughter has ever been involved in voodoo?
WITNESS: We both do.
ATTORNEY: Voodoo?
WITNESS: We do.
ATTORNEY: You do?
WITNESS: Yes, voodoo.
ATTORNEY: Now doctor, isn’t it true that when a person dies in his sleep, he doesn’t know about it until the next morning?
WITNESS: Did you actually pass the bar exam?
ATTORNEY: The youngest son, the twenty-year-old, how old is he?
WITNESS: He’s twenty, much like your IQ.
ATTORNEY: Were you present when your picture was taken?
WITNESS: Are you sh*tting me?
ATTORNEY: So the date of conception (of the baby) was August 8th?
WITNESS: Yes.
ATTORNEY: And what were you doing at that time?
WITNESS: getting laid
ATTORNEY: She had three children, right?
WITNESS: Yes.
ATTORNEY: How many were boys?
WITNESS: None.
ATTORNEY: Were there any girls?
WITNESS: Your Honor, I think I need a different attorney. Can I get a new attorney?
ATTORNEY: How was your first marriage terminated?
WITNESS: By death.
ATTORNEY: And by whose death was it terminated?
WITNESS: Take a guess.
ATTORNEY: Can you describe the individual?
WITNESS: He was about medium height and had a beard.
ATTORNEY: Was this a male or a female?
WITNESS: Unless the Circus was in town I’m going with male.
ATTORNEY: Is your appearance here this morning pursuant to a deposition notice which I sent to your attorney?
WITNESS: No, this is how I dress when I go to work.
ATTORNEY: Doctor, how many of your autopsies have you performed on dead people?
WITNESS: All of them. The live ones put up too much of a fight.
ATTORNEY: ALL your responses MUST be oral, OK? What school did you go to
WITNESS: Oral.
ATTORNEY: Do you recall the time that you examined the body?
WITNESS: The autopsy started around 8:30 p.m.
ATTORNEY: And Mr. Denton was dead at the time?
WITNESS: If not, he was by the time I finished.
ATTORNEY: Are you qualified to give a urine sample?
WITNESS: Are you qualified to ask that question?
And the best for last:
ATTORNEY: Doctor, before you performed the autopsy, did you check for a pulse?
WITNESS: No.
ATTORNEY: Did you check for blood pressure?
WITNESS: No.
ATTORNEY: Did you check for breathing?
WITNESS: No.
ATTORNEY: So, then it is possible that the patient was alive when you began the autopsy?
WITNESS: No.
ATTORNEY: How can you be so sure, Doctor?
WITNESS: Because his brain was sitting on my desk in a jar.
ATTORNEY: I see, but could the patient have still been alive, nevertheless?
WITNESS: Yes, it is possible that he could have been alive and practicing law.
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