eofy results!!!, page-8

Same here. Buy 'em, hold 'em and hope!

The following ramblings are just another way to look at this opportunity - and are very primitive I know.

Think of every mug punter (including me) who has had a go at the Aussie investment property market. How confident are you with the current Aussie market??? Yet we are/were happy to line up and pay the bank 7%pa for a $2/3/4/500K loan - and hope the market didn't tank, we lose our job, see a recession, bride gets pregnant, rents fall, kids get sick, termites eat house, floods wreck it......whatever. Of course there are stacks of people who have made a killing in the past - but what happens when the baby boomers start to line up and sell in the next little while??? Who knows - hope it goes well for all. That's another story.

Having considered all that lovely risk we so happily take on, mostly for the banks benefit - back to MIX - and what is their risk like??

362,457,269 shares and 29 properties (something like that!)

So therefore - each property is worth an average of 12.5 million shares??

At todays prices - that would mean the market "values" each remaining property in our new/leaner/meaner REIT is "worth" $774,908.00. (using VWAP 0.062). Is that a bargain or what? I should have bought every share for sale last week! No cash left!!! Or no brains - not sure. Think back - they were "valued" at something like $375,000 not long ago!!!!

Go and have another look at the latest valuations - and you will see why I reckon I am a drongo for not buying more.

Then consider the well known....

1) we are "hopefully" at the bottom of the USA market and can "hope" for better valuations in 6/12/18 months time. At very least you would think they would hold as investors look to chuck money at something other than the greenback, or boring old gold

2) the REIT is managed by some very slick operators by the looks of it - how do they compare to the real estate agent who looks after your investment property? Hats off to the crew at MIX I say.

3) dilution looks doubtful - I imagine MIRVAC for one would vote against this!!!!

4) debt looks to be stable - how much better can we ask for, given the bumpy road in the past??? How confident are you that your own personal debts are stable - any more than MIX's?

5) look at the top 20 - nice chucks of the company taken out - what did they buy in at!??!! They may now own the equivalent of one of MIX's whole buildings!!! WHAT A DISCOUNT. When you went to buy your investment property - did they cut the price by 75% just cause there was a big of risk? Fat chance. So why not buy MIX?

6) No dividend - so what - I can't retire this week - will have to wait till next year maybe??!! The year after? When is your Aussie investment going to get to that stage?

7) No dividend - so what - what if next week a big company/super fund type are now "allowed" to grab a BIG chunk of this? There are 197 million of the shares tied to the top 20. How many do you think they will let go of now? Sell to free-hold or trade this one at their loss???!!!! I am sure plenty will rather buy and hold for a year or two. Put your cash down - go on a holiday - come back and see SP when a dividend of even 1c pa is announced. Who knows!!!! Bring on the big super fund next week I say - as long as the whole market isn't worth a cracker after Friday night.....! It's sure nice to dream.

8) No rent to chase - let the good people at MIX do it for us (thanks!). With nice faceless tenants who are there to do business in a tough economy - not to kick to walls in drive you batty with their complaints/demands.

9) Then factor in cash in hand, relatively minimal MIRVAC loan to pay off, hocking a few properties, take in the rent... Its looking very OK.

BAD things - yes - some properties are vacant - we would never like that in our own investment property. Treat this stage as having to offer a discount on your own AUSSIE investment - in order to keep good tenants (think back 10 years). Now in a low vacancy rental market - you don't have to make any discounts. Charge the going rate. See MIX annual report for reference to the excess commercial vacancies in the area being soaked up over the next year or so...!

Rent/repayment ratio might not be as good as AUSSIE - someone will have to advise on this - as I am not finished calcs. Things can change in both markets though.

So please ladies and gents - spread the word (or at least drop a few hints!). Other punters might well want to take a chance on buying a little bit of MIX property too! In doing so they are funding my retirement - so all aboard ASAP!!!! Please - there, i have asked nicely.

I currently own maybe a foyer worth of MIX property! - maybe a driveway, or maybe the equivalent of half a car-park!

Wish I could own a bit more - and I too am working on that front ASAP - hope the little trade monkeys at work today are having fun!!! Will see what it looks like next week with them gone....

This is not just a "share". You are buying your "share of property". All going well these puppies will be paid off one day, when we are old/grey - or maybe sooner. What sort of return do we think we would have seen by then - SP and dividends included????

I think a guy called BUFFET used to buy things at least remotely like this company.
VALUE vs WORTH
I dunno - I'm still learning. Can't keep up with the games played on ASX!

I do hope my maths is right - and I am not a complete chump. Why does something so simple seem so complex when one has a couple of quid riding on it!!!