Galway-Cavendish&Harvey Results

[Frank]

now that is an interesting topic. 

How to get one's significant other tolerant of our property buying vice?

Any secrets you can share?

Like I said,  heaven help you if ever lose money on one.

[Pfm1011]

Mine enjoys it, She is right into the game, Loves the research and driving to check out the sites. She has gone to an opening etc. She is very good at seeing what is junk and what is not.  She also appreciates the long hold and doesn't expect instant profit.   She also understands that some will make money, some might  lose..as long as more winners then losers she doesn't care.  ( even if we lost on everything, what the hell, its fun)

Its actually quite good for her as she is very business smart but is stuck at home with the two young kids so this keeps her thinking and gives her a bit of " business adventure" without the big dollars we were laying into the commercial buildings and residential letting. That game is stressful as there is real dollars involved. Too much damn stress

We both make the bid decisions. I do the legal and economic research,prepare a package and then we both go look and decide on the bid. She is good at looking at things differently then me which actually makes for a good "partnership"  I am smart enough to know that if she says .."I don't think we should bid"..I just bin it and move on... Happy wife..Happy life

[Rob]

now that is an interesting topic. 

How to get one's significant other tolerant of our property buying vice?

Any secrets you can share?

Depends on your other  

If they are into it, it can be a fun outing (long drives in the country side, bidding suspense, meeting new people, etc)

If not,

Keep quit and try not to talk about (successes or failures).  If you have to talk about it, only mention the positive.

[Frank]

I'm in, Tuesday or Wednesday evening would be best.  Pick a day,  and ...you're buying.

[jdlogic]

I think it is a great idea and would love to attend.

[Rob]

That's a good idea, that is something we use to do back in the days of BBSes before the internet.

I've setup a forum so these items can be discussed. 

[JAM]

Dave2 et al

I'm on board to meet with you guys, Tues preferable.  Yr location Dave2, is it the Williams Pub Cafe 2454 Queen Street East Brampton?

I've researched scores, made 3 unsuccessful bids (one close) and now keep to a distance radius due to time and ever-increasing public awareness making bids often less lucrative .  However, I'm not deterred and think a meeting with like-minded folks is a good idea, I'm in Newmarket area.

Rob, I will copy this to yr new forum.

[aby]

Hi, I am a member since last year but this year I don't get any newsletter I send email to the tax sales but I don't get any answers. I don't have much experience please if any one knows how I can solve my problem please reply back.The ontariotaxsales doesn't even have a number so that I am able to just call them. Thanks.

[speedfreeksteve]

Certainly if and when we come head to head in a bidding situation the worst thing I could ever do is underestimate the quality of the other bidder(s).  That is why I have to head for the hills or the out country to survive. 

Actually no. The worst thing you can do is overestimate your competition (along with a properties value) and overbid. It's much worse to have already lost money on something before you've even paid for it.

If you get outbid, the sun will still rise the next day and you can be sure there will be many more chances to bid on something.

[Frank]

[/quote] The worst thing you can do is overestimate your competition (along with a properties value) and overbid. It's much worse to have already lost money on something before you've even paid for it.

If you get outbid, the sun will still rise the next day and you can be sure there will be many more chances to bid on something.[/quote]

Good advice Speed.  If we all start guessing that....just because Frank might be interested in a property - that means I'd better bid real high...then we'll all lose money, and there won't be much point in any of us wasting our time.  I've been second, third, fiftieth, and last on many bid opportunities.  If someone else wants to bid more for a property...and potentially either lose money, or not make as much return...then so be it. 

You make your bid on what you think the property is worth to you.  If you get caught up in the hype of the bid then you will bid higher, and if you win - you may really have lost.   Keep your kool and make a smart, educated bid on what you think it might be worth.

[Rob]

Hi, I am a member since last year but this year I don't get any newsletter I send email to the tax sales but I don't get any answers. I don't have much experience please if any one knows how I can solve my problem please reply back.The ontariotaxsales doesn't even have a number so that I am able to just call them. Thanks.

I think you have to pay for the newsletter now, but don't quote me.

[26.2]

Hi, I am a member since last year but this year I don't get any newsletter I send email to the tax sales but I don't get any answers. I don't have much experience please if any one knows how I can solve my problem please reply back.The ontariotaxsales doesn't even have a number so that I am able to just call them. Thanks.

I would like to add to Robs reply,  there is a contact button on the  OTS website .  Left side, third from the bottom.  I have found them very helpful.
Jim

[Pfm1011]

Ditto   They have been very helpful, Just send them an email and they will get you on the list.

[speedfreeksteve]

You make your bid on what you think the property is worth to you.  If you get caught up in the hype of the bid then you will bid higher, and if you win - you may really have lost.   Keep your kool and make a smart, educated bid on what you think it might be worth.

Exactly right Frank. I'm definitely not as seasoned at this as you, but I do know a few that I lost on, I really felt that I won based on what the "winning" bidder paid for the property.

[Pfm1011]

Thats the good thing about the process of tenders versus auctions. In the tender system we have weeks to decide on our bid, its all business and no emotion.  If we lose , we lose . If we win there is no "buyers remorse" as we have weighed it all out from every angle we can think of . 

I think anyone who has been to an auction for anything has been burned, Its almost impossible to stick to your high bid plan  as "well its just a thousand more and if someone else is bidding , they must know something I dont, etc etc " The emotions and ego kick in and suddenly you end up ten or 15k over your planned high bid.   ( if you are lucky its only 10 or 15k)

Ive got a 1970 Mercedes 280 sitting in my garage that I sank 20K into 4 years ago . Went to the auction to get an old porsche. Stuck to my price on it and lost .   Seen this merc and didnt give it a real good inspection or any research on value.  Decided on 14k max , I didnt stick to my high bid and got burned (or burned myself technically)   Expensive lesson on auctions as the car is a POS that needs way more work then I thought so it wasnt even worth 10.   Everytime I go to an auction now I just think of this car ..and I stick to my prices now and havent been burnt  before that  or since.    Good rule for auctions..If it has a reserve, its a scam.    "modest reserve" means retail price