Got to love the nay sayers. Good site for them is the Australian property forum. Wholy Dooly, they are scary over there.
SNAP! My obs exactly.
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Got to love the nay sayers. Good site for them is the Australian property forum. Wholy Dooly, they are scary over there.
Of course; noone likes to admit that they bought at the top of the market either...
I'm " happy " to admit that we bought our first PPOR at the peak of the market in 89 .
They say you learn more from your mistakes than by what you get right .
I learnt the importance of timing from that mistake , hence the " apprentice timing lord " tag .
Cliff
Assuming you are still in the same PPoR, Cliff - have you found that time has healed that wound and it is worth way more than what you paid for it?I'm " happy " to admit that we bought our first PPOR at the peak of the market in 89 .
Cliff
With hindsight we can all be more expert on when to buy and when not, and where not to, etc.
My point is that despite being totally hopeless at this caper, doing basically everything wrong, we kept on going, and it was the best strategy in terms of overall cap growth.
Had I sat around waiting for every light down the road to turn green, the status quo would have been way less successful, I can guarantee you.
To sit on the sidelines doing nothing, waiting for the right time, might end up being a worse mistake than doing something.....
Imagine the possibilities for folks here on this site who are not as stupid as I am, and have/are gathering the knowledge that I didn't have - they should be able to go out in almost any part of the property clock and make some money from the game in the short to medium term....as long as they are playing.
When we bought our PPoR in Red Hill, folks were saying "what are you doing?" Had I had any knowledge back then, we would have kept the previous PPoR and rented it out, and really made a killing.
When we bought 2 IP's in Kalgoorlie in one month, folks said "what are you doing?"
There are a couple of other donkey-brain purchases we have made that went ok, but you get the idea about being in the game.
With hindsight we can all be more expert on when to buy and when not, and where not to, etc.
My point is that despite being totally hopeless at this caper, doing basically everything wrong, we kept on going, and it was the best strategy in terms of overall cap growth.
Had I sat around waiting for every light down the road to turn green, the status quo would have been way less successful, I can guarantee you.
To sit on the sidelines doing nothing, waiting for the right time, might end up being a worse mistake than doing something.....
Imagine the possibilities for folks here on this site who are not as stupid as I am, and have/are gathering the knowledge that I didn't have - they should be able to go out in almost any part of the property clock and make some money from the game in the short to medium term....as long as they are playing.
When we bought our PPoR in Red Hill, folks were saying "what are you doing?" Had I had any knowledge back then, we would have kept the previous PPoR and rented it out, and really made a killing.
When we bought 2 IP's in Kalgoorlie in one month, folks said "what are you doing?"
There are a couple of other donkey-brain purchases we have made that went ok, but you get the idea about being in the game.
Personally; no. I never follow the herd anyway....most of the herd are not doing very well financially, and I never like to do the normal stuff that everyone feels the need to do to conform and feel accepted...maybe that's an Aquarian thing.ok fair enough, but would you follow the herd and buy in west sydney in Jan 2014?!?!!?
I've lost money on various things my whole life - and am still doing it. The next venture might be a winner.Yes true Bayview better having one foot in the door than nothing,but a lot of people including myself have done some what others may say was stupid I have lost quite a bit of money over the years