I'm down $2k in ASX Share Game

[jaycee]

Of course you have the text book answers Nat and this was all in a bit of fun in any event but when you are older and have seen and experienced some things, you might see things differently. (not meaning to be as condescending as this sounds written down)

But in my view, equity really is free money and if rents increase to service the debt on it then it truely is free........and I suspect what LOE is all about. You get to live for free.

yes LOE is borrowing against the growth in value of your property.. if you sold you'd get a profit cause someone would pay more than you did for it..but you hold and borrow against it instead, cuse you expect it to give you more that way

yes its free cause you do nothing but hold the property... if it costs you nothign to hold it's free.. hard work to get there though I'm told, and rewards aren't always even

you have made me think...

 

[Propertunity]

hard work to get there though I'm told, and rewards aren't always even
you have made me think...

I'm glad I made you think which is why I posted on this thread in the first place...........and btw apologies for totally hijacking a thread about the asx game

And re hard work getting there - Yes I think that's why we're mostly in this game. Lots of hard work, hang on in the bad times, pounce on opportunites in all times............and the payoff.... LOE and living free down the track.

 

[chilliaa]

Just a warning against this game.
It creates the mindset of a trader not an investor. Now before the traders jump down my throat, there is nothing wrong with being a trader, but it involves a completely different set of rules to being a share investor. Playing these sought of 'games' and thinking you are an investor, is similar to a person who thinks he is a residential investor by flipping property.

 

[nhb74]

Just a warning against this game.
It creates the mindset of a trader not an investor. Now before the traders jump down my throat, there is nothing wrong with being a trader, but it involves a completely different set of rules to being a share investor. Playing these sought of 'games' and thinking you are an investor, is similar to a person who thinks he is a residential investor by flipping property.

yep true. In this game you are trying to make as much money as you can in 3 months not really planning for the long term which really is not investing

 

[nhb74]

If it's possible to lose money while everything is going up... I have just done it the last couple of days!!

 

[craigb]

No? You've increased your initial loan balance, and are now paying interest on that debt. You're also more exposed to price volatility, in the event that prices soften after that valuation.



They wouldn't though, because I assume the car wouldn't be used as security on the loan. They might foreclose on your house, which would leave you out of pocket for the selling costs, especially seeing they won't be trying too hard to get top dollar.

If you had no existing equity in the property, you'd be lucky to see nothing from the sale, assuming you didn't owe them afterwards. You'd have a spiffy new car to live in, though...

You are all NUTS i i think thats why i like you all so much! i fit in so well,SCARY IS'NT IT !

 

[auror]

If it's possible to lose money while everything is going up... I have just done it the last couple of days!!

No, it's not possible... I guess not everything is going up after all!

at least it's just paper money