Have i stuffed up big time?

Oh one thing to add in the edit. I don't understand all this crap about goals. Do what your heart says or what you think is right. If people giving you advice were that good, they'd be this man called Warren Buffett. Check wikipedia to see who he is.

Yes, because I'm sure Warren Buffet has never set goals or done any planning. The five billion he invested in Goldman came from the heart, not from thinking ahead so he'd have funds available to take advantage of any situations/corrections that arise in the market.

Unlike Mr Buffett, the good experienced folk on here like skater and company provide good advice and inspiration for those entry level folk like Daniel and myself, so I'd like to thank them all for taking the time and providing us with that.

Cheers
Greg
 
(Picture me cuffing you behind the ear for being silly :D).

You paid $180k, and now it's worth $300k???

That's bloody not bad. Most 27 year olds don't own anything these days.

I wouldn't be selling anything based on a prediction alone.

I would be trying to use some of that lovely equity you've built up already to buy another one in maybe another area that has better prospects for bigger growth (do your own DD and not just rely on residex)..

Agree 100% with Bayview
 
I am leaning now towards holding onto the property and trying to purchase 1 or 2 more IP's.

I guess it will only cost me the $1000 advertising i have already paid the real estate agent but that's not to bad, i'm sure people have lost a hell of a lot more!!

Yes, $1,000 is a cheap learning price

Now i just have to get the guts to call the agent and tell them to take it off the market!

Call the agent - and say you are taking the property of the market BUT you will be purchasing a second property IP shortly instead.

The REA has not missed out as you will be purchasing + renting out via PM (unless you self manage).

Thanks again


Cheers
Sheryn
 
I don't understand all this crap about goals. Do what your heart says or what you think is right. If people giving you advice were that good, they'd be this man called Warren Buffett. Check wikipedia to see who he is.

What you really need is just more confidence in what you're doing.

So so don't have any goals? WOW! I've never met anyone with NO goals. Even the housing commission neighbour in one of my properties has goals (to have the best decorated house for Christmas).

May I ask what you've achieved? Did you just walk out one day and decide to buy a property? You don't plan what you'll do with it? Whether you'll sell it for profit one day? Use the money to get a better PPOR?

I had vague goals but nothing specific (which is why I stagnated for years). In the last 18 months (since setting clear goals) I have bought 3 properties and my net worth has increased by $260,000.

GO GOALS!!!!:D:D

Daniel- I sent you a PM about Rightgroup. If you want to set some goals or make an outline of where you want to go in the future speak to Victor (no cost). He has great insight. The fortnightly meeting on Tuesday night are very informative. And you get to network with people who are doing it.
 
Next one is 24th November. They are fortnightly.
Number crunching on how many properties you need for retirement.
Should be good.
If you come say hi
Lynne
 
I purchased it for 180K... and it is expected to sell for around 300K (it is currently on the market)
Shheesh what happens when you do well!!

It's not just about goals but about checking out your option and the possibilities.
I'd also suggest you read Jan somers books.
Book1.gif
Book2.gif

and Peter Spann's first 2 books.
In the mean time don't let the agent condition you into taking a low offer.

Deltaberry Buffet started with $5mil in the 50's and a silver spoon. That was a lot of dosh back then. It was'nt about value invest at all. It's buy the dips and hold. The bull market and banking system fixes everything.
But if you look at Sam Walton it's another matter, and he dwarfed the whole forbes top 10.
And he always said "You gotta be flexible".
 
Where did you get the fact that Buffet started with $5 million in the 1950's?

According to what wikipedia, Buffet's life savings were around $174,000 in 1956. A lot of money back then, but not nearly $5 million. Also I haven't seen any evidence that he got any of that live savings from his family, but rather from working and investing.

Below is the wikipedia article on Buffet.

http://en.wikipedia.org/wiki/Warren_Buffett
 
You haven't stuffed up, and it's not for any of us to say whether you have or haven't either.

That's a personal decision, some people chose to buy and sell, others buy and hold, but please what ever you do, when it's your money, and your portfolio, Take on advice use it to your advantage, but only for educational purposes, don't follow someone step by step EVER.

Just depends on what you want do to, so weigh that up before making any rash decisions, but first thing first, would be to take it off the market, just in case, you can always put it back up if that is to be your decision.
 
Erm, yes. It strikes me as odd people's attitude to the 'bias' media, in bed with these people and those people...yet Wikipedia is considered the height of factual reference :rolleyes:. Sigh.

Cheers
Greg

Never said wikipedia is the height of factual reference. Rather I was stating where I got the information regarding Warren Buffet from, which I was stating.

I have read many articles on Warren Buffet and I have never heard that he had $5million given to him when he started investing or that his parents gave him a large sum of money. Not saying that it isn't true, just saying I haven't heard it and I've read things that are contray to that. I just want a source, on the $5 million statement, that's all.
 
I accept that Wikipedia has its limitations, but given that it's built from the sum total knowledge of millions of people, rather than one journo, I'd expect it to always be more accurate than any one media report.
 
I accept that Wikipedia has its limitations, but given that it's built from the sum total knowledge of millions of people, rather than one journo, I'd expect it to always be more accurate than any one media report.
The masses have proven throughout history to be WRONG, and nothing has changed.

So let's look at this BSpedia page:

1951 got his masters
1951-1954 employed at Buffett-Falk & Co (this was his dad's, the congressman, stock brokerage & investment firm)
1952 purchased a Sinclair Texaco gas station as a side investment...did not turn out to be a successful business venture.
1954 accepted a job at Benjamin Graham's partnership. His starting salary was $12,000 a year ($97,000 adjusted to 2008 dollars).
1956 his personal savings were over $174,000

So where did >174k of "personal savings" come from?
In 1953 he was married and by 1956 then had 2 children.
How many people in 2009 get married, get a house have 2 kids and have personal savings of 1.4mil after 5 yrs? How bout dinks? Sell one of the kids maybe?
And how did he purchase a gas station after working for one year?
It "was'nt a good investment", so he could'nt have made much out of if not lost money.
But he still had "savings" of >174k" which is total BS.
And in 1957 he had another kid and bought a house for 31.5K
Wow what a genius!

His value dropped frm 62B to 37B, he bought financial institutions and begged the US gov & fed to bail them out. Not exactly what I'd call a great investor.
But definetly a long termer.
 
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