I grew up around that area, too. I don't live or invest there now as I work a different stategy. However, I would recommend it as an area to look at, given what you have in mind. There are plenty of opportunities there. You could even extend your one a little more, too and be really spoiled for choice.
How do you celebrate breaking the first $1m in debt?
- Thread starter vincenzo
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I grew up around that area, too. I don't live or invest there now as I work a different stategy. However, I would recommend it as an area to look at, given what you have in mind. There are plenty of opportunities there. You could even extend your one a little more, too and be really spoiled for choice.
I don't like the way it's worded...sorry. but well done on buying properties.
I never celebrate debt and purchases except when we moved into our poor practically debt free. Even then, too busy to celebrate. I was devastated to say the least. To be able to achieve that before 30 and all the sacrifices we made. He was such an idiot not to even realize and have an event planned for us. Infact, we rarely celebrated my achievements. I do properties and build houses so often that he never thought that I would need a compliment once in awhile..like well done. I mean what a few hundred dollars worth of flowers when I made like $130k+? and each house takes ages to build. I think flowers are a waste of money but then sometimes I really need something material to show his appreciation...some effort and kind words. Absolutely nothing!! Even close friends will say oh wow that's great well done. It's nice but not as meaningful to me.
I am happy at handovers, I'm happy when a good valuation comes back from the bank and I'm happy once it gets rented or sold. But to my husband, he doesn't even realize those days are significant to me.
Anyway, we did have a long talk and he's much better now. Some ppl just don't think this is a real job.
So I think if you feel like you need to celebrate even just getting into debt then do it.
If you never celebrate at all like us then it's good either. I'm not the kind to celeberate and be romantic etc but c'mon I'm still a human being.
I never celebrate debt and purchases except when we moved into our poor practically debt free. Even then, too busy to celebrate. I was devastated to say the least. To be able to achieve that before 30 and all the sacrifices we made. He was such an idiot not to even realize and have an event planned for us. Infact, we rarely celebrated my achievements. I do properties and build houses so often that he never thought that I would need a compliment once in awhile..like well done. I mean what a few hundred dollars worth of flowers when I made like $130k+? and each house takes ages to build. I think flowers are a waste of money but then sometimes I really need something material to show his appreciation...some effort and kind words. Absolutely nothing!! Even close friends will say oh wow that's great well done. It's nice but not as meaningful to me.
I am happy at handovers, I'm happy when a good valuation comes back from the bank and I'm happy once it gets rented or sold. But to my husband, he doesn't even realize those days are significant to me.
Anyway, we did have a long talk and he's much better now. Some ppl just don't think this is a real job.
So I think if you feel like you need to celebrate even just getting into debt then do it.
If you never celebrate at all like us then it's good either. I'm not the kind to celeberate and be romantic etc but c'mon I'm still a human being.
Congrats Vincenzo.
I didn't celebrate the $1m debt mark. I guess it does seem a bit daunting the amount of debt I have when I focus on it. I normally celebrate each purchase with a meal at a favourite restaurant.
I didn't celebrate the $1m debt mark. I guess it does seem a bit daunting the amount of debt I have when I focus on it. I normally celebrate each purchase with a meal at a favourite restaurant.
And the favourite restaurant is?
Just that there are opportunities in the areas you mentioned. Enough to keep you busy looking for a while. If you extend the search grid to include some surrounding suburbs it just gets better. For example any suburbs surrounding the Westfield Marion shopping centre, and beyond.
Simply Thai!! Northeast Rd
I might go there to celebrate having missed out on celebrating my $1m in good debt a while ago. Thanks for the tip!
Lots of reasons:
1. You have a good credit file report (still) in these difficult times
2. Someone thinks you are a good risk
3. You have control over an asset that is presumably growing at a faster rate than your costs
4. It is 2009 valued money and you get to pay it back (or at least service it) with future inflation-erroded money
5. IRs are historically LOW. If you were offered money at 5.x% 3 years ago - you would have (well I would have) taken as much as they would give me
6. You have OPM's to invest - you can create money for yourself using none of your own money
7...........I could go on
Sorry I dont take advice from people who profit from the transactions on which they advise on.
You can regurgitate all those nice little lines from the "gurus" all you want, but the concept of "good debt" is mainly garbage.
But I know and understand that most people need a guru with nice one liners to follow because 95% are not capable of doing their own independent thinking. Even though over the last few years this forum has greatly evolved in that department.
But hey, what the hell could i know? I don't do seminars, nor write books, nor take commissions from buyers and/or sellers.
Your the expert.
Cover your dependants
Well done Vincenzo,
onward and upward for you. Please share the details of the SA deal when you settle.
Did you buy there for land tax reasons?
Also I noticed you have a little two year old; I may be stating the obvious, however with such a milestone of one million of debt, ensure that your level of life insurance cover is at least congruent with that amount of debt.
Well done Vincenzo,
onward and upward for you.
Please share the details of the SA deal when you settle.Did you buy there for land tax reasons?
Also I noticed you have a little two year old; I may be stating the obvious, however with such a milestone of one million of debt, ensure that your level of life insurance cover is at least congruent with that amount of debt.
3 years ago I was not capable of much independent thinking re property so I guess that put me in your 95% PB.
I read the gurus' books and attended the occasional seminar. The insight I gained from their experiential knowledge propelled me into my property investing journey. I won't tell you how much my net worth has increased but it is substantial from my perspective.
Not everyone who depends on a guru for assistance remains in their shadow.
I will remain forever grateful to them for sharing their wisdom for such a small price. I am also grateful for all the little gurus on this forum who give out free experiencial advice.
W ho cares less what anyone thinks ,just enjoy the moment with your family,i never do anything special on settlement day,just walk down the local bottle shop buy a box of beer, kilo of Nth Qld Tiger prawns, a few cigars and have a drink,good luck willair..BTW way nothing is free in this world "SNAKE OIL HUMANITARIANS"only smile once the deal is done..Just bought my first little piece of SA! I haven't settled yet, but on settlement day there's gonna be a bit of a party
I dunno if i should be getting a happy meal or going to somewhere like grossi florentino's?
I've only told one fellow investor so far (who thinks i'm a little crazy for getting into wayyy to much debt
Well that's fine - but I was not seeking to offer you advice. I was simply answering your Q which was "Why would i celebrate owing more money?"....and posted in the Coffee Lounge section where we all lurk to profit from the transactions
If you really believed that PB then who do you take advice from?
An accountant - well he's going to profit from giving you advice
A solicitor - same for him
A Financial Planner - well he's definitely in it for the money
A Mortgage Broker - nope, he's going to make a commission too
What other professional is not going to profit from advice given? It sounds like you will have a very narrow band of non-professionals and just yourself to take advice from
I don't think you actually believe that do you? Look, I know debt leverage can maximise gains as well as losses. It is impossible to invest and not suffer a loss at some stage. But to write it all off as "garbage" is a bit extreme don't you think?
They are capable I think but many choose not to. But overall I think your %'s are close to the mark in practice. I'm in the fortunate position to mostly deal with the 5% on a day to day work basis.
I wish you all the best.
You're treat? I'll wait for my invite...
Yeah, why not. I'll round up a few others, too and we can all celebrate!
I am usually too worked up on settlement day .. but in general that's how we celebrate our milestones too Willair (replace cigar with fresh oysters)
