Property enters "millionaire-makers'" phase

Realestateweb guest columnist Brennan Carey, a professional property investor, shares his thoughts on the current market.

South Africa in the current political and economic climate has many challenges - of that there is no doubt. Those who choose to stay face many challenges, no matter what their race. They need to look at both the short-term issues and the long-term opportunities to see whether this country holds a future for them and their families. Many are leaving; many will stay; many will also come back. The decision to stay is based on gut feeling for many. If you are preparing to stay it's up to you to make it work. You can't sit back waiting for the government to do it for you.

As a white South African in my mid 30s, and current full-time property investor, I grew up in a time when black people were not allowed to attend the same school as me or live in the same neighbourhoods. My parents and I lived a life of privilege. 

Free education, free health care and sheltered employment. Unfortunately we are now realising the cost of all that was free, and it is clear those luxuries were in fact quite expensive.  I grew up to fear all that was black.  The year 1994 was seen as the end of the world and freedom for all white South Africans.

My working career was one where affirmative action resulted in me not being first choice for jobs, yet determination saw me through. In the late 90s I started to educate myself about property and today I  own a decent amount of investment property and  don't have to work for an income. Although I am not where I need to be yet, my path is clear and defined and I continue to grow.

I raise these issues because as a South African property investor I see the future of this country as bright. There is potential for black and white South Africans to succeed in this country of ours. All the negativity in SA takes its toll on many, I agree. But, as a property investor, I have taken the long-term view that I have a lot to offer the country of my birth and in turn SA has a lot of opportunities for me. I choose to be the best South African I can be.

Property as any asset class will face its ups and downs. Currently we are in one of those phases where sentiment is down, interest  rates are up, inflation is high and affordability is down. Estate agents are going out of business and by the time the market has stabilised many will have been culled. The same holds true for property investors who bought when the supply of property exceeded  the demand and yet they still chose to pay a premium with the "belief"  that you can never lose in property. Unfortunately this is not true. As with any investment, sound buying principles need to be followed.

In addition, property economists working for banks are viewing the asset class as risky because we are at a stage of the market  where yearly capital appreciation of the asset class is not seeing positive growth - affecting the security against bank loans. Most banks are not issuing 100% loan-to-value bonds  because they fear the risk of negative equity. These economists are employed by the banks to protect the risks of the banks so in times of negative growth they need to protect their business which  is lending money.

Banks are not interested in rental yields or investor cashflow. Their sole concern is protecting their risk and mortgages, so they don't understand the fundamentals of buying property or the drivers for investors.

Homeowners, many of whom got into the property market during the boom, will go into foreclosure as the rate of insolvencies continues to rise. These buyers were sold an investment dream by estate agents who convinced them that property was the perfect investment that you got to live in and enjoy.

Most did not realise that the home you occupy is a liability until the day its paid and only then does it become an asset. They bought from sales' people who know how to sell and have no understanding of property as an investment class.

Many of these buyers will have no option but to sit it out as property eventually beats inflation. As long as they can pay their monthly instalments or work a plan with their banks they will survive.

These situations and market conditions do, however, create fantastic  buying opportunities for buyers who have cash or can qualify for  finance and these times are commonly known as the "millionaire-makers' phase" by property investors. These investors are taking advantage of the conditions to phase in their asset purchases.

Admittedly for most investors the current market does not have the same "boom time" appeal of the growth and expansion years we saw in SA earlier this decade, but there is money to be made for those that can buy now and hold out.

Brennan Carey is a full time SA property investor and is currently looking to buy below market value properties (Ibuyhouses@thenet.co.za).

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as a South African property investor I see the future of this country as bright

Brennan Carey, professional property investor

 

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Comments

 

responses to this article

Your first properties How did you buy them? With deposits? At auctions? With the bank's money? With an inheritance? by Interested on August 13 2008, 13:19 Find this comment inappropriate? Report it

You are amazing Brennan. CJ clearly has no idea what he is talking about. by Panic Atttack on August 13 2008, 13:39 Find this comment inappropriate? Report it

Just how smug can you get? But you have to laugh, I suppose. By the way, anyone lost money on property in the last 8 years or so? by Darwon on August 13 2008, 14:11 Find this comment inappropriate? Report it

omits to tell you that daddy paid for them............. zzzzzzzzzzzzzzzzzz by GungetsTuft on August 13 2008, 14:27 Find this comment inappropriate? Report it

Tell them thats not true Brennan.... ... tell them you are a self made man!!!!! by Panic Atttack on August 13 2008, 14:38 Find this comment inappropriate? Report it

not so smart why buy now, risk further capital depreciation and not cover your borrowing costs. Surely rather consider an asset class where there is the chance of appreciation at this point in time. Try have a broader perspective of wealth creation/preservation and . .more consider other asset classes. Property is not the only asset class. Even if you are not borrowing to invest why bother buying an sset where you are recieveing an unreasonable yield taking into account the capital risk. I suggest you broaden your scope of investable assets. . .less by frontline on August 13 2008, 15:04 Find this comment inappropriate? Report it

Which Brennan? Is this Brennan the property bull who usually posts here? by junkyard on August 13 2008, 15:23 Find this comment inappropriate? Report it

Gimme a break "Banks are not interested in rental yiels"!!! Brennan, have ever applied for development finance? There is money to be made in property, but giving advice on it is best left to the real seasoned proffessionals. Reading a book on property investment and . .more buying a couple of flats does not a professional property investor make. That's how we got into this mess i the first place. . .less by Yoda on August 13 2008, 15:25 Find this comment inappropriate? Report it

frontline, CT A-hole, CJ and friends all missing the point What Brennan knows (and what I and many "alternative" real estate investors know) and is not telling: The real way to make money in real estate in any ecomic climate is to buy below MV to the extent that your cash flow is from the start. Fix your bond . .more rate, so you have only tenant risk left. BUT, it's not as easy as walking into an estate agent's office and buying the blue chip properties. You have to look hard and see many agents and properties. You might see a 100 deals, 10 of which are worhty of offers, 3 of which may be accepted and 1 of which you buy. These numbers are not thumb-sucked - these are actual numbers from seasoned (30 years) real estate investors. See how long it takes you to see 100 remotely good deals (I'm not talking about today's property section in the paper which is laden with overpriced C***). Bottom line? You can negatively gear and sit out and wait for inflation to make you money, or you can put in significnat time and effort and carefully spot and pick the deals that will make money from day 1 and cost you nothing. Well done Brennan! . .less by Property investor on August 13 2008, 15:32 Find this comment inappropriate? Report it

Critique and more critique! Typical SA mentality: can't keep up with the Jones' (whatever they are, property investors, bigger home owner, bigger boat owner etc) leads most SA's to toss their C*** critique around with little knowledge of who it is they're criticising. My BMW is . .more bigger than yrs.....SA's.......never really left their stupid mindsets behind. . .less by Lionel on August 13 2008, 15:36 Find this comment inappropriate? Report it

Impressive article You have a bigger set of balls than me Brennan Carey, I prefer to hide behind a stupid nom de plume. Congratulations on a well written article and good luck with your investments. Diversification in other asset classes may prove a suitable . .more risk management strategy as other commentators have mentioned. . .less by Tuscanite on August 13 2008, 15:42 Find this comment inappropriate? Report it

Well done And good luck with your future investments! by Brenton on August 13 2008, 16:20 Find this comment inappropriate? Report it

Property investor - Another Russ Whitney fan eh? The only one making real money is the man who thinks through the plan, and sells it to others for a hefty course price.. People generally lack courage to do what they mostly know they should, or they lack will and motivation. Don't need . .more 100:10:1 formulas from Russ to know buy from desperate sellers and ultimately you'll make good to great capital growth. (This is a highly geared strategy in any case, and right now as the banks have shown around the world, it should be strong cash flow and low gearing as a focus. The world economy doesn't look great for a few years..) As for rental income well SA has not supported cost coverage from rentals for years, and I can't see it changing for anyone who does not have at lease 30-50% equity in their portfolios. . .less by JW on August 13 2008, 16:49 Find this comment inappropriate? Report it

GoBacktoSchool Well Brennan.....if your property portfolio is underperforming then *write an article for Moneyweb*. There you go boyo! Seriously, I think you must be a very clever guy, you seem to have a good grasp of the present property market in South Africa. . .more Time to buy a few more units for your portfolio? They can only go up you know! And you have such good support on this forum, like this post.... "The real way to make money in real estate in any ecomic climate is to buy below MV to the extent that your cash flow is from the start. Fix your bond . .more rate, so you have only tenant risk left. " Where have all these moron posters come all of a sudden. . .less by Builder/Buyer/Renovator for 30 years on August 13 2008, 17:20 Find this comment inappropriate? Report it

The name has a face !!! Quite a bearish article until he spoilt it all with the "millionaire-makers" jargon at the end. I am not sure that one year into a 5 or 6 year property crash is the time for millionaire wannabes to go bargain hunting. However "millionaire makers . .more phase" is certainly a nifty feel-good slogan that I imagine is very useful for property snake oil salesmen to use to reassure their disillusioned disciples who might be feeling down in the dumps as their bubble property wealth vanished as fast as it arrived. Is it my imagination or has Brennan become a bit more realistic after hanging out with us grumpy old bears for a few months. . .less by CJ says on August 13 2008, 18:11 Find this comment inappropriate? Report it

Wow, CJ quiet? Ok, well done for retiring early and making good investment decision while you were/are young. By the way how many is "a decent amount", what is the portfolio value. Judging by the focus on banks and their lending criteria i assume you are . .more a "borrowing" investor like most of us. What percentage do you leverage? I think what you neglected to mention is diversification. We have sheep in this country, we need to be careful on what is highlighted to them. We all know that people will tell you the 1 time they won at the casino and not the 9 times they lost. So please also highlight the challenges that you had to face and how you over come them. Otherwise this is a great article. I am bear at the moment, only because if it goes down i can buy more. My quote: "Bears are Bulls that have missed the boat or are waiting for the next one" I hope this original coz i thought it up by myself...lol At the end of the day, no one wants continuos (non-stop deflation), even CJ. He is waiting for property to normalise so that he can buy a home as well. Once he buys, he will be a raging bull. . .less by Mthoko on August 13 2008, 18:49 Find this comment inappropriate? Report it

Thick Skin required.. I must say to write a article here on this site takes some think skin as I have learnt you guys can be quite ruthless. I took the plunge as I wanted to get my viewpoint across. Yes it may not be perfect, but its what works for me, I am always . .more looking to learn and to hear a complete opposite viewpoint from you property bears does shock but at the same time there are always 2 sides to any story. Thks for all the comments guys, positive and negative because we can learn from them all. So the likes of you outspoken Bears, write a article and submit it. I too am tired of hearing from Estate agents and banks on how good and bad things are, these guys dont have a clue of whats actually happening to buyers who wanna buy but cant afford to and desperate sellers out there! . .less by Brennan on August 13 2008, 18:57 Find this comment inappropriate? Report it

Well, I just bought today a repo property I went to repo auction in Muizenberg the Southern Peninsula in Cape Town today. The property on auction was a three bedroom, two bathroom semi detached house that on the market for R750K by Seeff. The sheriff said the outstanding bond was in excess of . .more R700K sothe poor seller had no choice but to sell for that price to make it square. I bought the property for R425K. With Sheriffs costs and transfer and outstanding rates and levies, it comes to R455K. There is a new tenant in there and he pays R3000 a month. So currently the gross yield is 8%. Rates and levies is R270 per month. The true market rentail is between R4000 and R4500 per month as it has a big garden, garage and offstreet parking. So we i to find a new tenant at the current market rental, the NETT yield would grow to 10% plus in the first year. The price at which it would move quickly is R600K to R620K. To get to the fact of the matter, there are bargains out there but you have to look. The man who has his house repo'd obviouslt paid way too much at R700K plus. That what Brennan is talking about what he means by ''millionaire making phase''. Buying after the boom and in the bust is the way to make money in the local property game. . .less by WTF on August 13 2008, 19:47 Find this comment inappropriate? Report it

Property Good article, well reasoned, very upbeat. Unfortunately, you miss one glaring, 600lb-gorilla-in-the-living room fact, that is never going to change: There is a black african government in South Africa. This type of government is never stable, (not in the . .more last 80 years) and through corruption, nepotism and incompetence, with communist style tactics, the country will be leeched dry and eventually ( 2 to 5 years) all property values will fall. If you think I am wrong, and I need to be more positive, I have a bargain deal for you: a 6000 hectare farm in Zim, fully outfitted, (well, it used to be) not far from Beitbridge, for a mere USD $50,000 paid to me outside Zim. I will give you title immediatly on payment. How about it? . .less by CA Bez on August 13 2008, 20:40 Find this comment inappropriate? Report it

Great article Bren And after some good intellectual banter and a good deal done by WTF, along comes racist CA Bez and stuffs it all up for all of us. You are the filth of our society and the quicker you all go the better. If you're still here obviously no country . .more will take you (You're obviously a loser) - If you're not here, Stop reading this site with that longing feeling wishing you were here. Anyway now that I've calmed down I must appreciate all the racists - They the ones keeping the market easy for the rest of us. Keep up the stupid emotions guys - I mean look how rich the black govt has made all the whites - But don't tell anyone. The biggest problem is the insecure whites. Not insecure in terms of blacks but you have to condemn the govt if you have rich mates and you're not. . .less by Wayne on August 13 2008, 21:10 Find this comment inappropriate? Report it

Yup, Wayne, it'll be great when all those insecure whites have shoved off... That'll leave the property speculators and the retirees, who'll be stuck here for the same reason - they didn't cash in soon enough. My (utterly racist) view of residential property anywhere in Africa is that it's inherently not worth the dust it's built . .more on, and I count myself fortunate not to have to gamble with the tawdry SA property market and its avaricious punters in order to make a decent living. But each to his own. . .less by Darwon on August 13 2008, 22:48 Find this comment inappropriate? Report it

For WTF A 40% fall - not bad WTF - a record on this forum - the previous two were 35% - the crash is happening faster than I expected. Of course you have to be careful thinking you got a bargain ... this could be the new market price. On a 100% bond I . .more calculate you are still losing at least R33,000 a year. I am also not sure about 4000 - 4500 rent for a cheap house in Muizenberg either. On a cash purchase your yield is about half what you would get in a bank, even less with voids and maintenance. It's a step in the right direction but I don't see anything to get overly excited about - the REAL bargains will be several years down the line. . .less by CJ Says on August 14 2008, 01:08 Find this comment inappropriate? Report it

Property getting hit hard worldwide-a few interesting stats Here's an interesting snippet in a recent Moneyweek editorial. In the month of June in 1000 of the country's 2851 post codes, there were NO HOUSE SALES. Nothing sold in 40% of the postcodes. OUCH ! This year looks like the UK will have the . .more lowest number of house sales in 30 years. The Spread betters have an index for future house prices and presently the futures market is telling us that a 30% fall from peak will happen in the UK. Spain apparently is already 35% down. And over in the US the 49% increase in the unemployed is an indicator (based on the last 10 recessions) that they are already in a recession. . .less by CJ Says on August 14 2008, 01:23 Find this comment inappropriate? Report it

for CJ ! Well, I paid cash for it so no bond. There is a 30K renovation going to be done by yours truly (with a little help from some Zimbabweans) that will make the place look decent again. Currently, the tenant is paying R3K per month and the place is a dump . .more with bare floors and lacking a paint job. A rental of at least R4000 is achievable as its a 3 bedroom. The norm for the area is over R3800 for a similar property. Even if i get R3500 nett after rates . .less by WTF on August 14 2008, 05:39 Find this comment inappropriate? Report it

For CJ The repo auction and the fact that is was the third one in the area on that day shows that there is a aura of panic in the market. Local banks have been hit hard by the downturn and we have our own sort of subprime crisis in the making. Come . .more to think of it, FNB lost R300K on the house i bought alone. Times that by 100 repos a month and you get R360 million per year...for one bank. And thats wishful thinking.....repos are running in the thousands of units per bank per month. Most repos have bonds that are hopelessly to high and are in defenite negative equity territory. Banks were way to optimistc ongranting bonds and it seems they were way over optimistic in their prognosos on future growth. Thats understandable when you have 'bank economists' by the likes of John Loos and Jacque Du Toit working for you. I was surfing www.gumtree.co.za- the Cape Town section- and came across a repo sale in Parklands. The house is going for R850K with no transfer costs as the bank is a Vat vendor. The link is....ttp://capetown.gumtree.co.za/c-Flat-House-Real-Estate-vacant-land-properties-for-sale-BANK-REPO-PARKLANDS-BARGAIN-HOUSE-FLAT-W0Q. A similar property in Parklands sells for easil;y over a million so there is a 20% drop already...and its just the start. The price of R850K is what you would pay two years ago. . .less by WTF on August 14 2008, 06:07 Find this comment inappropriate? Report it

Great Article Something is very clear for me here. Those with negative comments have never truly invested in property. If you thought you could sign your way to millions, think again. Opportunities are definitely out there, and I couldn't agree more with . .more Brennan. Don't think you're going to go out and buy luxury houses and make money. Provide affordable property for the people, manage your portfolio properly, get rid of your racists fears, and you can only reap the rewards. . .less by Dom on August 14 2008, 07:30 Find this comment inappropriate? Report it

Good article Why is there such negativity from people who have never invested in property? by Thanks on August 14 2008, 08:34 Find this comment inappropriate? Report it

Interesting article Brennan And nice to put a face to a name. Would be interesting to see some of the other mugs of people who post here. by Jimmy the dogsboddy on August 14 2008, 08:55 Find this comment inappropriate? Report it

Well Done! Bren, well done. Funny how people who have never invested in property are always vocal and critical of those who have made it. by Fellow PIN Member on August 14 2008, 09:02 Find this comment inappropriate? Report it

Interest Rates Careful of highly geared properties - Interest rates will soar to 30% soon when Zuma and his cronies get into power and do away with prudent financial management - They are following Mugabes policies - high inflation, hight interest rates, weak currency - . .more Julius will be head of finance with hisgrade 7 qualification after he has killed for Zuma he wants to collect his rewards - banana republic . .less by Happy Gilmore on August 14 2008, 09:31 Find this comment inappropriate? Report it

I agree Time to start shopping around. I'll consider myself a buyer in 2009/2010. Maybe I'll pick up a couple of bargains like this one: :-D http://www.detnews.com/apps/pbcs.dll/article?AID=/20080813/METRO/808130360 by Freemarketman on August 14 2008, 09:52 Find this comment inappropriate? Report it

For CJ Mate, No doubt about it. Brennan has changed his bullish attitude so much that he even agrees that it's not true "that you can never lose in property". Much more of this and he will officially be a bear. by Renter on August 14 2008, 09:54 Find this comment inappropriate? Report it

WTF's remark To me it sounds like there are numerous bargains around (as per WTF), so why would one choose to rent? I think renting really sucks and for the 3 years I rented I always felt so depressed. I was angry about house prices, negative about the ecomomy even . .more politics influenced me negatively (but never as bad as Happy Gilmore or CA Bez ... lol .... that's just wayyyy out there!!!) If one wants to buy a house to live in (not speculate) and you can get it at 30% to 40% lower than market value and it suits your pocket, why on earth risk to wait longer if the purchase price will in any case be irrelevant after 10 years? . .less by Chris on August 14 2008, 10:46 Find this comment inappropriate? Report it

Top pupil of the "Rich Dad, Poor Dad" series? It sounds like you are a top student who learnt from the teachings given in the Rich Dad, Poor Dad series of books. To all millionaire wannabees, better you read the second book of the series, "The Cash-flow Quadrant". lt changed my financial life for . .more the better! . .less by roy nattrass on August 14 2008, 10:51 Find this comment inappropriate? Report it

BRENNAN Can you please answer some of the questions above. Thanks by curious cat on August 14 2008, 12:00 Find this comment inappropriate? Report it

answers Ok, I focus 100% on buying below market value property. During the boom years when people where telling me there where no bargains to be had I was looking for them and getting them. Make money when you buy not when you sell.. During the current market . .more cycle I have a network that is set up already that brings BMV deals to me. As you can expect finding deals now is not hard if you take the time to look, just be selective. 40% min below ACTUAL value not perceived value is key. That raises the question how do you learn what actual values are in your area? Start looking now so that you get a good understanding of whats going on. Prices advertised are NOT sales price dont forget that ever! No I dont come from money, single parent family from a young age. So no inheritance I am afraid... No, banks wont loan you money to buy residential BTL prop based on projected rental income. Existing rental income yes. Developers are taking a hiding right now. If you can build now and hold until the next boom you will make money as a developer. how many developers are doing that I dont know? I am still learning, do you ever stop? even from those I dont agree with can teach you something you never expected. . .less by Brennan on August 14 2008, 12:27 Find this comment inappropriate? Report it

Now THAT'S a crash - nice link Freemarketman Detroit house for $1 - the new owner "paid cash" LOL !!! It used to be the best property on the street ... then it all went wrong ... "So desperate was the bank owner of 8111 Traverse Street to unload the property that it agreed to pay . .more $2,500 in sales commission and another $1,000 bonus for closing the $1 sale; the bank also will pay $500 of the buyer's closing costs. Throw in back taxes and a water bill, and unloading the house will cost the bank about $10,000." "The agent did say that the buyer agreed to pay the full list price of $1, and planned to pay cash." 65000% fall in price - now that's a crash ! Of course even 30% down will never happen in SA, we are after all "the chosen ones"... hang on ... WTF has already got 40% down ... maybe we are not so special after all... . .less by CJ Says on August 14 2008, 12:54 Find this comment inappropriate? Report it

QUESTION FOR CJ? You say you rent a R3.3 million house for R11000 per month. So you are saving R25000 per month becasue you are not paying a bond....your landlord is. So you are implying that you could afford a R36000 odd bond payment? That means you should be . .more . .more making over R70 grand a month in salary...if not way more. As you know, that what the bank requires to qualify for a R36K bond. Have to add that a person making so much money and still renting after so many years does sound odd. Saving up all your cash for years must surely not be more than investing in property over the last five years.???????? . .less by WTF on August 14 2008, 12:58 Find this comment inappropriate? Report it

Buying BMV Reminds me of that You tube video of a Miami auction I posted a while back where a house in a complex had just gone for half the price last years buyers paid. "But, but, but the developers promised never to sell for less than market value" wailed . .more one distressed female owner. "That IS the new market value" replied the developers. Be careful, just because the price has dropped, doesn't mean a property is cheap or BMV, especially in a crash. . .less by CJ Says on August 14 2008, 13:02 Find this comment inappropriate? Report it

$1 property in USA CJ, you are worrying me, are you also starting to change your ways? Surely if the buyer waited a few more years he could have picked it up for 20c not a full $1.. ? :) Only kidding, at the end of the day a good deal is a good deal. It also begs . .more the question is why did none of the local agents selling it or someone in the bank who knows "everything" about property did not buy it for a dollar ?? . .less by Brennan on August 14 2008, 13:28 Find this comment inappropriate? Report it

Proud of you guys... At long last a proper constructive string of discussion without somebody talking up his book. Everything is cyclical except perhaps Politics in SA. Quality properties will always appreciate...by how much will depend of inflation and the nuances of his . .more masters voice. But first will come the "return to real value" phase. be patient everyone... . .less by and Zen on August 14 2008, 13:33 Find this comment inappropriate? Report it

CJ and Brennan CJ when can we expect your article? Brennan, I hate the spell police myself, but you look like the kind of guy that does not mind the crit - was/were does not = where. by Donkie on August 14 2008, 14:17 Find this comment inappropriate? Report it

Detroit property Ever been to Detroit? Story doesn't suprise me at all. Unemployment rate over 60%, crime ridden etc etc. I think he over payed - wasted a good $ by Uncle Samson on August 14 2008, 15:15 Find this comment inappropriate? Report it

Believe it or not The really funny part is the Detroit property was on the market for a dollar and it still took 18 days before a buyer could be found to purchase it ... Donkie, I must say this young whippersnapper Brennan is forcing my hand ... suddenly being in . .more the audience is not enough ... I want to be up there in the bright lights right next to the Realestateweb logo, with maybe a dashing photo showing off my rugged features ... or do I ? I will have to give this some serious consideration... . .less by CJ Says on August 14 2008, 22:38 Find this comment inappropriate? Report it

For WTF - The Stages of CJ's life 1/ Having a fun job involving adventure and travel but not making a fortune 2/ Settling down and starting a business to make some money 3/ Committed relationship and the patter of tiny feet 4/ Got responsibilities, money in the . .more bank, time to buy me a house in the time old tradition - unfortunately this coincides with the peak of the biggest property bubble this century 5/ Angered at the greed that made this happen and shocked by the ignorance of the majority of the people to what was going on. I realised renting was the way to go - the data was so overwhelming that it is a no brainer - once I accepted that there was really no choice it was actually rather liberating - so I rent a nice house and let my savings accumulate. 6/ Around this time I would speak out at dinner parties about the property bubble - being peak boom time this was not what people wanted to hear - my woman banned me from talking property - and then I discovered Moneyweb ... and the rest is history. . .less by CJ Says on August 14 2008, 23:14 Find this comment inappropriate? Report it

Translation 1/ Getting into trouble and on run from the police. 2/ staying at home and getting a job after much moaning from parents. 3/ girlfriend got in family way, had to get married or face father-in-law. 4/ FNB created Mzansi . .more Account, was able to open very first bank account. 5/ Still not saved enough a deposit 6/ would complain loudly at KFC till when placing order about price of things. Still not saved enough for deposit. . .less by Translator on August 15 2008, 10:11 Find this comment inappropriate? Report it

OK, that is funny, far from truth, but funny Tuscanite ? by CJ Says on August 15 2008, 12:05 Find this comment inappropriate? Report it

Nice translation - probably nearer the truth than you want to admit, Cj? Your woman must have the patience of a saint mate. I am not suprised she banned you from rambling on at dinner parties. It's never pleasant getting cornered by a bore - but here we sit with you on MW. No, I jest - we enjoy having you on board. You are . .more outspoken, certainly negative but consistant, and that's not a bad thing. Do consider getting your mug up there - if Brennan has the balls to do it, I'm sure you can. I hope you behave better at dinner parties these days though - the only thing worse than a bore is a "I told you so". And if property tanks the way you are calling it, that will make you totally unbearable. . .less by Jimmy the dogsboddy on August 15 2008, 19:32 Find this comment inappropriate? Report it

@cj cj please dont go, who else would i be able to explain FACTS rather than charts to.brennan well done, it took me 25 years to get "comfortable" im glad you could do it sooner by andrewa on August 16 2008, 02:52 Find this comment inappropriate? Report it

To my woman there's Superman, Batman, and me ;-) My woman did have her moments of doubt in the past but now that everything I predicted has so far come true, I've become a bit of a hero ... she certainly appreciates us being debt free in these times of financial turbulence. by CJ Says on August 16 2008, 10:54 Find this comment inappropriate? Report it

Debt Free Very good CJ by Small Boy on August 18 2008, 08:50 Find this comment inappropriate? Report it

Hey Mr Carey Nice to see an old Campbell boy making it out there in the big bad SA, I enjoyed your article, I have always been interested in property but just didn't know how to raise the capital. Anyways keep it up and all the best. by Superman returns on August 20 2008, 14:53 Find this comment inappropriate? Report it

Translation....and an answer...please? Hey all you clever people you, A quick translation, into English, of the following: ´If there's a tenant in a building, said building sells on yield, generally at 9% plus returns` What does that mean? Question: Is it . .more unwise, to buy a rather cheap building, in order to get security for a more expensive building later on? Thanks....in anticipation . .less by Superdawie on September 07 2008, 01:25 Find this comment inappropriate? Report it

Interesting points This article raises some interesting points in terms of investing at a young age and investing at a time when you can take your pick of Below Market Value properties. The problems start with the credit act and capital though - many young buyers/ . .more investors don't find themselves in the position to buy. We need the young professionals to stay in South Africa and invest here before they take their money overseas and invest in foreign property Its important to develop strategies that will insure your investment stays just that, an not a liability which results in the foreclosure of your assets. It's tricky tight rope at the moment but there are great rewards for those who get it right. . .less by The Property Magazine on January 26 2009, 17:05 Find this comment inappropriate? Report it

http://webuy-houses.co.za http://webuy-houses.co.za by http://webuy-houses.co.za on December 01 2009, 15:54 Find this comment inappropriate? Report it

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