There is some bloke who has his antics printed in the Money section of the Times.
He has more than 3 houses. One in Dublin and by the looks of it one in Dundalk, Waterford and Mullingar. He claims to be looking in Dublin for more properties as the prices have come down. He also takes the VI line that interest rates are on the way down. I get internal reports on FX, Interest rate movements on US $ and Euro from a large investment bank and I see nothing to support his interest rate claims. I think he is a very silly man. He obviously listens to the Desperate Dans and Comical Austins and is parroting their opinions. The problem with that is the VIs don’t believe what they spout and therefore won’t loose any money. Jamie on the other hand stands to loose big time.
I am not trying to be mean here. I just figure Jamie may have visited the Pin before and we may be able to educate him. If he has never visited the Pin then he is in worse trouble than I though cause he has done bugger all research. Jamie has given up his job and is living off the rental income and does some talks to the bigger fools.
Probably the most telling of Jamie’s opinions is the fact that he believes that rental demand is strong. This implies not only has he not thought about the market for any length of time he also blindly believes the rubbish the newspapers print about rents shooting up. Also Jamie is of the LL school that believes buying to rent in commuter hell (1.5 hour drive to work) is a good idea when prices are too high. He doesn’t think that instead of buying out there maybe it is actually time NOT to buy cause the yields are stupidly low.
Anyway maybe Jamie will see this post and make a fool out of me by telling us his master plan, (so we can rip it apart for him and show him the light).
Although I don’t think Jamie would dare drop by cause he is doing a little talk next Thursday on how to be rich like him from property. I’m sure he is under water with his properties and the only thing keeping him afloat is the money he gets from his talks.
I was wondering if this Jim Mc Grane is a real or mytical figure. The article says he bought 3 properties from 2005 which means he must be a net loser on the monthly rent/mortgage differential while any capital gain is almost certainly wiped by now. Yet we are told he gave up his job in computers to become a full-time landlord. Am I the only one smelling a rat?
There is a picture of him also.It does not ring true to me anyway,bought 1st gaff in 05 and now has at least 4 and was able to give up his job and live off the proceeds of the properties???
I mean FFS what proceeds??If anything it should be costing him money as he was so late to the party??
This is what gets me. How could he, even if fully let, be in such a positive cash flow to give up the day job having only entered the property game in 05. Plus does anyone else reckon that the house design looks more typically British than Irish? In particular look at the facing brick lintol over the window!
I think he is real all right. However he cannot be making money from his investments never mind living off them. That’s why I want his hoop to explain in detail what he’s up to cause he will be demolished on the Pin.
This type of guy doesn’t hang around this type of place - he’s too busy believing his own hype, duckin an divin, talkin shite to his mates, underwater on the monthly X5 payments, never mind his portfolio.
I see Brody Sweeney was one of their recent guest speakers!Perhaps he would be better off spending his time speaking to the shareholders in his business explaining why they are losing their bollix due to inefficient mgt and over extending themselves in unknown markets!