I have to say on a personal note when I first attempted to sale my property over 4 years ago it was one of the most daunting prospects ever. Just thinking about the whole process of having people coming in and out of home trying to spot out any little issue would give me a headache, I was ideally looking for a quick sell, well to be honest who wouldnt want to a quick stress free sale. Dont get me wrong I was not desperate to sell nor was I in...more
There is always someone or something that is that sums up greed, corruption and plain human stupidity of an age. Jewish born Bernard L Madoff, ex Wall Street chairman and founder, is one of those stories, which symbolized the age of easy credit. A time that brought all nations around the globe to their knees, in the worst recession to hit, since the Great Depression of the 1930's.Seventy year-old Madoff was the brains behind the largest ponzi...more
We have read motivational books which inspire you on how much wealth you are capable of in a lifetime and inspirational articles which tells you that you could unleash so much hidden potential within yourself. We have also attended talks and courses which encourage you to fulfill your dreams, to pick up confidence and courage to attempt whatever you have always wanted to do in your career.All these give us a rush of adrenaline and fill us with a sense of purpose and exhilaration, an impulse to go out there and really do what we always envisioned of, but the next important question that follows is how? Often, many sources will motivate you and give you a feeling of empowerment, but the reality of life is not as simple. Does hard work alone make you successful? Can the desire to be financially successful on its own, transform you into a millionaire?Desire without the know-how and effective action is simply unfulfilled ambition. It either brings you in a fruitless run back to the starting point or even leads to ill-informed actions, which bring you even further away from where you want to be.If I were to tell you: "You are born rich and you are worth $1, 000, 000!" Would that make you...more
There are experts in every field willing to sell their skills to anyone who could benefit from them, and the payments industry is no exception. As public exposure surrounding the bankcard industry expands, merchant account consultants are popping up online and perhaps even at your local networking events. The question is whether this new flood of...more
On a recent visit to London from New Zealand, one of my objectives was to get up to date with the UK sharemarket by getting the latest view on markets from a range of analysts, economists, fund managers and, of course, taxi drivers. Most New Zealand investors, like those anywhere, have what we call a 'home bias' in their share portfolios, meaning...more
New Yorkers I talk to are pleased to see the sharemarket up 30% from its lows, but are cynical as to the rally's resilience and are using the bounce to raise cash. As I found in London, 'the bounce' is the number one topic of discussion across fund managers and analysts. Most are shaking their heads at the speed and steepness of the rally. Some recovery off lows was justified as news has certainly being "less bad" over recent weeks, but most struggle to see how a 30% bounce can be justified.Many I talk to are sticking with their equities, but have used the bounce to raise some more cash by trimming some of their positions.If the stories in The Wall Street Journal are anything to go by, we're not out of the woods yet.A front page article carried a photo of a bulldozer demolishing a row of half finished houses in California.A bank had ordered their destruction after the owners went into foreclosure and it took ownership. Given the huge decline in house prices, it was cheaper to demolish the houses than complete and on-sell them.Another article recounted a survey that has found that 30% of homeowners in the United States have negative equity (they owe more than their houses are...more
During a real estate downturn its easy for someone to overlook the big picture and question why they should be interested in investing in the residential real estate market. It can be difficult not to listen to media reports and members of Congress...more
Seller Financing to the Real Estate RescueBanks arent lending, sellers cant sell and buyers cant buy. Seller financing opens up huge pools of potential buyers who are willing to pay fair market value and above average interest rates to the...more
With Australians right around the country frugally looking for ways to tighten the purse strings during this economic downturn, it makes sense to look at every dollar thats leaving your account and work out where the moneys going.There are...more
Contrary to the TV footage of the January sales, Australians have become a nation of savers.Not only have we been saving, we have also been paying down credit card debt and maintaining our mortgage repayments despite falling interest rates. In fact,...more
But bear with me for just a moment while you imagine this scenario: its the first week in December, youre about to start on the three week spending binge of gifts, food, decorations, booze and holiday accommodation, and you realise you havent...more
MortgageA mortgage is a type of loan, primarily used to purchase property, in which a lender or mortgagee provides credit facilities or finance to a borrower or the mortgagor, after obtaining a legal protection in the form of an official commitment,...more