deposit bonds....aarrrrggghhhh

[duncan_m]

Reply: 7.1.2.1.1
From: Duncan M


>was worth
>nothing and had to come up
>with another
>20-30K lump sum. Bummer.

Maybe put your ego to bed for a while and drive something a little more down to earth? Newish cars _are_ kinda nice, but at the end of the day they cost you arm and a leg no matter what method you use to finance them..

My trusty old ute cost me $2500 years ago, its still worth around $2000, economical 2L motor, blows a bit of smoke, who cares.. It gets me to or and from work reliably and it saves me around $20,000pa in new car costs.. (interest, depreciation, maintenance, insurance etc etc)..

Photo attached!


Regards,

Duncan.

 

[WebBoard]

Reply: 6.1.2.2.1.1.1.1.2
From: G G


gotta be a big akubra in that wardrobe!

 

[geoffw]

Reply: 7.1.2.1.1.1
From: Geoff Whitfield


Duncan,

I was pretty much like you with cars. But in November, my 20 year old Toyota had some problems. Took it in to be fixed, drove out $380 later.

The next day (really), it broke down again. A completely different place- possibly $1500 to $2000 to fix. We wrote off the car- but the $380 really hurt.

I came very close to buying a 15 yo car for $5000.

I spoke to my accountant. I was in a situation where the company I worked for allowed a company car- with deductions taken from my pay. He told me that, because the company paid for petrol, insurance, repairs, rego etc, these things came out of pre-tax dollars- and I would end up paying not much more for a $20,000 car in this way than a $5,000 car my way. The proviso was that I need to drive 25,000 km each year to keep Fringe Benefits tax to a minimum. That's not really a problem to me.

So now I have a car I can actually rely on to get me to Sydney from Canberra- or even just get me to work. It's 3 years old, so I'm not paying a premium for a new car smell- but good enough for me, and one I can feel safe driving my children in.

My 2 cents!

 

[Robert]

Reply: 7.1.2.1.1.2
From: Robert Forward


Yes Duncan, we know you have a car that gets you around town, others however need their cars to be VERY reliable and able to drive interstate without much notice and hence need to pay that "bit extra" for the privilege of a classier car for the piece of mind, I sure don't mind paying out more for a car to have piece of mind.

You say that you drive around in a "bomb" of a car (though it's a good looking bomb of a Ute by your photo) but I know that you have more then one car and the other was a New car, but the question is which one would you rather do a 2000km one way drive in with 1 hours notice before leaving?

I agree with Donna and do similar to her, I purchase a new/used car (less the 5 years old) that has a minimum 2 year warranty, then trade the car in when the warranty is up and get another one under warranty. I am not a mechanic and don't have time to learn how to fix a car, I make more money per hour then a mechanic thus my time is more important and I will pay someone else to work for me.

Anyway, those are just my thoughts on cars and things.

Cheers
Robert

The Sydney "Freestylers" Group Leader.

 

[WebBoard]

Reply: 7.1.2.1.1.2.1
From: Joo Joo


I'm sure you all know where i stand, right behind robert and donna. But Duncan, this is where different personalities, goals and views come in again, it might be ok for you but not for others. My best friend is just like you, and i am the opposite, i still love him, thats life.

Now Terry, I am not going attack you. You said you read my posts, were there not others who disagreed with my approach to investing, but how were these different to Avery and Yuch's posts.
Duncan, Rick and Frank to mention some, all had different views on investing but there posts were informative, rather than put me down they still disagreed with me but provided me with the wisdom of hindsight and presented good points. This was great and did help me with my decisions, however the other two posts did not help me at all, beside the fact that they were utterly incorrect and demeaning, the basis of there criticism was pathetic. You say my reply was juvenile, why was it? I raised points about the inappropriateness of the posts, and that is what they were, I see nothing juvenile about it. I asked for help, some gave it supporting me, some gave it with different views and others just made rude and unhelpful accusations and with what basis? there was none?

So Terry, I'll say it again. Posts that are helpful, either supporting me or prompting me to adapt others approaches are fine, and i have accepted them all. However, posts like yours and the other two, just make statements that are offensive but do not explain why? Ok I am immature? why? what should I do? What are your experiences? Not 'Sorry but I suppose I will
be attacked now because I said something disagreeable to you too'. I am not here to play games, I basically asked a question and received answers, all were helpful, but a few. Thats that. Give me an intelligent, informative and friendly reply and I will not gun you down, I am not being unreasonable or juvenile I just despise ignorance. How would you feel if you asked a question and someone replied with.......I cant believe you are doing something like that, that is extremely senile of you.....not explaining why they would say such things about your different approach while they are unaware who you are and why you take this approach, all it does is bring you down.

I have read some of your previous posts Terry and I have sensed some intellegence, but if you are going to call me immature and juvenile, at least take the courtesy of informing me why and maybe getting to understand me and my situation a little better, or dare I say even try to help me.

Well I suppose you may say that this was an defensive message, it was.

Still laughing
joojoo

 

[yuch.]

Reply: 6.1.2.2.1.1.1.1.3
From: Yuch .


Sim,

But you don't borrow loads of money at high interest to buy your computer stuff, do you?

Don't get me wrong. I do enjoy life while I am investing, that's why I am catching up with 131 posts this morning.

Regards
yuchun
~ The secret to success is to start from scratch and keep on scratching. ~

 

[yuch.]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3
From: Yuch .


Hi Joo Joo,

First of all, congratulations that you already have 2 IPS. It's a very good start.

Secondly, you are damn right that I am not very literate. Well, most engineers are not very good with words and I am just another one of those illiterate engineers.

And again, I would think that getting someone to wrap a property to you may be an alternative solution. Don't think that I am looking down at you or anything like that, seriously, this is another way of acquiring properties.

I am thinking of having someone to wrap me a property in Sydney to me sometime next year.

Regards
yuchun
~ The secret to success is to start from scratch and keep on scratching. ~

 

[Sim]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1
From: Sim' Hampel


On 1/21/02 2:35:00 PM, Yuch C wrote:
>
>Secondly, you are damn right
>that I am not very literate.
>Well, most engineers are not
>very good with words and I am
>just another one of those
>illiterate engineers.

Have you been going to those engineering faculty pub crawls again Yuch ? You know the loss of brain cells resulting from too much alcohol can cause unfortunate side effects. Ugg !

;-)

 

[michaelg]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1.1
From: Michael G


Sim,

While I don't drink myself, I am often in company that is quite knowledgeable about the effects of alcohol.

One interesting one is the heard theory. That is, nature has a mechanism called survival of the fittest where the slowest creatures in the herd are culled, bascially because they are left behind. And understanding that a herd can only move as its slowest member, natually the overall speed of the herd improves.

If we consider the brain to be a heard and individual brain cells as members of that heard, natural selection again kills off the slowest of the pack, then some assume that this improves the overall speed of the brain.

Based on this theory alcohol improves the brains speed. Or so the theory goes...

Michael G

 

[Sim]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1.1.1
From: Sim' Hampel


Ahh... well since you don't drink, this must explain why you can't spell. I have heard members of our "herd" comment that your sobriety is holding you back MG !

 

[WebBoard]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.2
From: Joo Joo


thanks Yuch, i will look into wraps over the next few months. I appreciate your advice and hope I hope I have not offended you.

What field of engineering are you in?

Joo Joo

 

[paulzag]

Reply: 7.2
From: Paul Zagoridis


This rubbed me up the wrong way...

On 1/19/02 2:44:00 PM, David U wrote:
>Come on everyone what were YOU
>doing at 21 years old. I'm
>sure it wasn't investing and
>I'm sure you DIDN'T have 2
>properties then. Because if
>that was the case, you'd
>probably be on your yacht in
>the south of France retired
>forever comfortably!

I started reading the SMH real estate section at 16 years old.

I'd started a dozen business ventures by the time I was 20.

I bought IP's throughout my early 20's and was a millionaire by 26. I lost it all (and more) by 27 in the recession we had to have.

My fault totally. But early success does not guarantee French Riviera holidays.

Businesses fail, economies move.

JooJoo's doodad list is fine if he knows the real cost.

The problem is any idiot can make money in a bull market. What happens when things go in unexpected directions.

Hell I just bought a very nice car. But I worked out how to do it first. If my cashflow position disintegrates I could give the car away without financial pain (let's not discuss the emotional pain).

The healthy question at the core of all this controversy is what happens if things go against JooJoo?

Telecom's may return to favour. OTP's may remain profitable. Cashflow for the car loan may never be a problem.

Regards

Paul Zag
Dreamspinner
WealthEsteem coming soon at...
http://wealthesteem.dyndns.org/

 

[asy]

Reply: 7.2.1
From: Asy .


Hey Paul,

When are you going to post a photo of the car???

We all want to see!

I think you should change your nick to Paul_zag_with_jag!

I must schedule a 'test passenge' (coz I know you won't let me drive!!) next SYD trip!

asy )

There are no problems, only solutions which have not yet been discovered.

 

[WebBoard]

Reply: 8
From: David U


Sorry Paul

If you took what I wrote the wrong way; I was just reflecting on what I had not done myself by the age of 21 - no real reflection or comment on anybody else's achievements.

David U

 

[Splinter Wood]

Reply: 9
From: Splinter Wood


Hi Joo Joo,

Sounds like you went to one of these wizards investment Seminars ??

What people have to understand that $1 is equal to $1. No more no less.

Why would any sensible lender, lend more than the security your are offering ? How could they they let you take out the money you are allowing them to hold as security for one of the 'Deposit bonds'??

Like I said $1 equals $1. Sounds like you have been listening to people who have 'convinced' or connived their way to have 'flexible' lenders give out more than they are supposed to.

Most people who can succeed in such negotiations, that is to secure money without security, or some other similar 'flexible deal, have other security behind them which they may not reveal to you.

When you develop good relations with your banker(s), they may be possible, but most people do not have that level of equity or security to gain such confidence.

If you want to swindle your financier into lend more than he/she should - go for it but if things come undone, figure out the consequences.

All look easy and positive in a rising market. Be careful listening to people who have been involved in property investing since the market started moving up. Talk instead to those who been through more than one cycle.

Good Luck and ask more questions.

Dr A

 

[yuch.]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1.1.2
From: Yuch .


Maybe it was all those alcohol I consumed during both my undergrad and postgrad studies that made me who I am today!

Is that good or bad?

Regards
yuchun
~ The secret to success is to start from scratch and keep on scratching. ~

 

[yuch.]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1.1.2.1
From: Yuch .


Sim,

Actually, I miss all those pub crawls....

What about we organise one for Somersoft forumites?

Regards
yuchun
~ The secret to success is to start from scratch and keep on scratching. ~

 

[yuch.]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.2.1
From: Yuch .


Hi Joo Joo,

I am a chemical engineer - those who drink truck loads of beers!

Regards
yuchun
~ The secret to success is to start from scratch and keep on scratching. ~

 

[Sim]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1.1.2.1.1
From: Sim' Hampel


Hmm... might be dangerous - who knows in our slightly enebriated state we might find ourselves the less than proud owner of a struggling pub !

 

[asy]

deposit bonds/stupid posts....aarrrrggghhhh

Reply: 6.1.2.2.1.1.1.1.1.2.1.3.1.1.2.1.2
From: Asy .


YAY!!

Smoochie Yuchie's Pub Crawl!

Bloody good idea that...

May have to come to SYD to attend...

Everyone, Hide your VODKA!!!

hehehehe

asy


There are no problems, only solutions which have not yet been discovered.