If your Australian property is due for settlement anytime now, I suggest you set aside more funds for any extra equity. This post couldn’t have come at a more appropriate time. Valuers in regional areas have valued properties so conservatively that investors are forced to inject more equity because the values just didn’t stack up to purchase price. One of my good mate in Gold Coast has stayed away from these areas because the values just won’t hold. Now having said that, I don’t necessarily agree with what the valuers have done. Anyone who does developments would know the level of replacement cost and how the purchase price. Unfortunately that’s not how the valuers see it.

Banks have panel of valuers, internally and externally. I suspect banks have issued a ‘warning’ sign to these valuers about being too overly liberal over values of new properties. Some of the cases I have seen are outrageously ridiculous.

Last two weeks, I was completely pissed with a long time friend cum investor. In my own capacity, I have done whatever I could to help him out and he has the audacity to point his fingers at the credit crunch at me. I was so pissed that I raised my voice. I am fiercely competitive and I don’t deal with mediocre investors who don’t understand what’s going on in the market place. He maintained his own opinions but unfortunately the market has changed and he reacted too slowly. In short, he did himself in. It will the last time I deal with jackass like him. Call me an arrogant guy and I admit I am. I have done nothing against my conscience. I am not in the business to please people. Those who value who I do, thank you very much! Those who don’t, please piss off…I mean it! Get the hell out of my life. I don’t have to deal with people who hang on to their ideals, oblivious of what’s going on in the world…

I should stop all these nonsensical thoughts because it’s not going to help the cause at all. I am passionate about property investing and I am even more passionate about my investors. Like my forex guru and great pal, Koon Lip believes, we are the BEST in our business. I want to thank all of you who has given me support, emotionally and professionally. I couldn’t have gone this far without you…

Beat the market because if you don’t, the market will beat you!