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| E-Newsletter 12th July 2007 | ||||||
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Dear Investor, It’s been a few weeks since the last e-newsletter. Over that time I have been on and off aeroplanes, had an enjoyable day with a wealth club I speak to and also, with my staff and a couple of friends, ran a 3 day investment seminar in London for a US Corporation. I managed to also secure more land which by the time the transaction had been registered in the Land Registry last Friday had risen in value by 16%! A good day’s work Robert Kiyosaki
I went to a talk by Robert Kiyosaki of Rich Dad, Poor Dad fame on Tuesday in London. He gave an incredible 2 hour speech expanding on elements from his Rich Dad series, but also using material from his new co-authored book with Donald Trump called, “Why We Want You to be Rich” He spoke very well in a relaxed but confident style and also interspersed the teaching with some very funny real life episodes from his life. As you may know he was a distinguished Marine pilot in the Vietnam War and holds strong views about events around the world today, but anyone who can turn being shot down 3 times in Vietnam into a funny story gets my vote. I found myself agreeing with everything he said which is not surprising as I have been following his system for many years, although I only read the book a couple of years ago. Most other investors follow his system also, although again not knowing it. What then is this system? I will look at this more closely at the conference in September, but in essence:
Those of you who have attended one of my Bewarethesharks.com courses will be very familiar with these concepts, and in many cases these simple, but effective ideas have changed many lives. The last point about surrounding yourself by successful people is fundamental in the process, particularly if they are more successful than you. In my view it is always better looking up than looking down, as being pulled higher is a surer route to success than being dragged down! You have the opportunity to look up at 2 forthcoming events to be held in London. Jet to Let Magazine Conference Saturday 8th September 2007 - London Jet to let Magazine’s Annual Conference on Saturday 8th September in London. Details can be found at http://www.jet-to-let-magazine.com/events.html We have some fantastic speakers lined up and will also give you the opportunity to meet fellow investors. This 1 day event is a must for those seeking to find the very latest opportunities in fast growing markets. You will also have the opportunity to pre-book consultations throughout the day with mortgage advisors, currency specialists and property investment advisors. If you need help in starting or have a problem portfolio, then our specialists can assist you. All this for only £97 plus VAT for one person, or £149 plus VAT for 2. Places are strictly limited due to the capacity of the room and will be awarded on a first come first served basis. To secure your seat today, call Gina on 0151 244 5444. Firm orders received before Friday 13th July at 5pm will qualify for a FREE signed copy of my book. I can hear the applause and roar of excitement from here!
There are only 2 course dates remaining this year with the next being Saturday 29th September 2007. For details and to book see www.bewarethesharks.com South Larnaca 5* Golf and Spa Resort by Dominic Farrell I would like to thank those who have pre-registered for the pre-market release offer on my new scheme in South Larnaca, Cyprus. One of the many ways to achieve property investment success is to get in before everyone else, particularly direct with the developer. I would like to emphasise that I am the developer, this is not any form of agency, commission or finding service, although if you are an agent and wish to be involved in this landmark scheme which already has the locals talking (and buying), then please contact my office on 0151 244 5444 and speak to Hayley. If you have not pre-registered and would like more details of the offer, then please send me an e-mail dominic@jet-to-let-magazine.com Jet-to-Let Magazine The team are in full flow producing the next edition of Jet-to-Let Magazine. Some of the topics for the summer edition are:
We will have the usual columns which I contribute to and also financial information from Tony Taylor. If you have any friends who you think would enjoy reading a copy please forward this e-mail to them Best wishes
Dominic Farrell |
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Latest Property Investment News Cost of fixed rate mortgages set to rise sharply The cost of fixed rate mortgages looks set to rise sharply next week after banks and building societies started withdrawing products in response to Thursday's bank rate rise. Mortgage brokers were today reporting that several big-name lenders including Abbey and Alliance & Leicester had withdrawn all or some of their fixed-rate deals. Britannia, Bristol & West, Bank of Ireland and a number of smaller building societies were telling mortgage brokers that three-year fixed deals, in particular, were being withdrawn with immediate effect. Most are expected to announce new, higher priced loans from early next week. Abbey, which has 8% of the mortgage market is expected to increase its fixed rates by 0.3% from next Tuesday. Its two-year fixed will cost 6.29% if bought via a broker — up from under 5% less than a year ago. The majority of mortgage advisers were yesterday telling consumers to look hard at tracker products in the light of predictions that rates are likely to go to 6% "where they could hang around for some time". Following Thursday's base rate rise, the half of consumers who have mortgages on the standard variable rate can expect them to rise to 7.75%, according to London & Country Mortgages. Repayments on a typical £100,000 home loan will rise by around £16 a month, it said. Ray Boulger, senior technical manager at mortgage broker John Charcol, questioned whether further rate rises were inevitable, pointing out that many consumers were yet to feel the pain of the previous four base rate rises. "You have to remember that half of all mortgages in this country are still fixed- rate deals, and as a result the full impact of recent rates rises is yet to be felt. Eighty per cent of those on fixed deals will be coming off them in the next two years. As more consumers feel the pain, spending will come down accordingly," he said. Melanie Bien, of broker Savills Private Finance, said "swap rates" suggest the market is expecting rates to go to at least 6%, if not higher. "The advice is to those looking for a new fixed deal is to act fast as the best ones are disappearing fast. She agreed tracker mortgages, which will follow rates down as well as up, currently look good value, "but only if you can afford it". Source: The Guardian New jobs hint at US recovery The United States added 132,000 new jobs last month, suggesting the economy is continuing to bounce back after weakness earlier in the year and despite the current housing market doldrums. The gains in previous months were also revised sharply higher, but in welcome news, average hourly earnings rose just $0.06 - or 0.3pc - to $17.38. That suggests the tight labour market is not yet feeding through to higher inflation. Job growth was particularly strong in healthcare and in public sector jobs and kept the unemployment rate steady at 4.5pc. Rising wages and expanding payrolls are helping consumers, who kept the economy afloat in the first half of 2007, withstand record gasoline prices and the housing recession. San Francisco Fed President Janet Yellen said yesterday that recent indicators point to a "robust" economy. Bonds declined for a third day. Yesterday's figures seem to suggest that the Federal Reserve's lengthy interest-rate pause will continue for some time to come. The data provides further evidence that the economy has picked up considerable steam after several quarters of weakness that many believed heralded the beginning of recession. Gross domestic product advanced just 0.7pc in the first quarter. However economists expect that to mark a low point of the current cycle with growth likely exceeding 3pc in the second quarter. Economists generally think 3pc is the maximum rate of growth the economy can sustain without generating inflation. Source: The Telegraph
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