I find that a when there are threads polls where people write 800K gross $200K equity I hesitate tow write down my real numbers. I am not sure what the emotion is - embarrassment? Self conscious? Shame? threatened? I am unsure what the exact emotion is but it leaves me feeling uncertain whther its best just to keep quiet, keep vague or I dunno. Am I the only one who feels like this? Am I just paranoid? Does no-one really care?
Tall poppy syndrome on somersoft or am I just paranoid?
- Thread starter GoAnna!
- Start date
I find it unnecessary to state net worth, I'm not really interested what anyones net worth is nor am I about to tell anyone mine.
On the other hand, I am interested in figures on specific deals people have done.
On the other hand, I am interested in figures on specific deals people have done.
i agree that there are some on ss (mainly come over from ghpc) who will twist your figures and try to "use" them against you ... i no longer post any figures on the forum as i found they are being taken out of context and manipulated in order to make themselves feel better that i "have done" and they "haven't".
and, yes, it is tall poppy syndrome - you should only ever compare to inspire, not compare to despair (which is what those at ghpc are doing).
and, yes, it is tall poppy syndrome - you should only ever compare to inspire, not compare to despair (which is what those at ghpc are doing).
Hi folks,
I find that to share specifics of net worth and recent acquisitions I need to ascertain whether the people I share this with will celebrate me and not merely tolerate me.
The harvesters of tall poppies suffer from excusitis, their favourite word is "but". But "we are so lucky" in their eyes. The truth is that no one achieved anything magnificent without paying the price in advance. I am a late comer to this forum, but I am getting to know who it is I can celebrate and learn from and who to ignore.
Fortunately we can choose to skip over the doom/gloom and put-downs of the nay-sayers and those who would be better equiped fiscally if they directed their efforts at creating wealth rather thn chopping down those who have. We certainly don't want to catch their mind viruses.
Just as well that they're not in öur immediate real physical environment. There is so much good material on this site..... we just need to filter out all the stuff that might keep us from our greatness.
The harvesters of tall poppies will have to pay the price later on.....it's known as the price of regret.
I find that to share specifics of net worth and recent acquisitions I need to ascertain whether the people I share this with will celebrate me and not merely tolerate me.
The harvesters of tall poppies suffer from excusitis, their favourite word is "but". But "we are so lucky" in their eyes. The truth is that no one achieved anything magnificent without paying the price in advance. I am a late comer to this forum, but I am getting to know who it is I can celebrate and learn from and who to ignore.
Fortunately we can choose to skip over the doom/gloom and put-downs of the nay-sayers and those who would be better equiped fiscally if they directed their efforts at creating wealth rather thn chopping down those who have. We certainly don't want to catch their mind viruses.
Just as well that they're not in öur immediate real physical environment. There is so much good material on this site..... we just need to filter out all the stuff that might keep us from our greatness.
The harvesters of tall poppies will have to pay the price later on.....it's known as the price of regret.
Kind of a strange one.
On one hand, I believe their is absolutely no need for people to know.
On the other hand, having a number out there might:
1. inspire people to get off their butts and do something
2. give you some street cred.
This of course assumes you grabbed the fortune yourself, and not inherited it.
Cheers,
The Y-man
On one hand, I believe their is absolutely no need for people to know.
On the other hand, having a number out there might:
1. inspire people to get off their butts and do something
2. give you some street cred.
This of course assumes you grabbed the fortune yourself, and not inherited it.
Cheers,
The Y-man
I think for people such as GoAnna even if you do not mention your net worth, the number of properties you talk about, banking methods etc provide enough information to let those of us at the other end of the scale know that, well, we are at the other end of the scale!
What I personally find most helpful is when you add to discussions on what your current LVR or cash buffer percentage is, or how you are changing your strategy in changing times.
I see Somersoft as a group of people, a few with tall poppy syndrome, a few who do not speak much but it is gold when they do, some who speak perhaps without thinking first, but most who try to contribute and appreciate others from whatever level of investing who also do.
What I personally find most helpful is when you add to discussions on what your current LVR or cash buffer percentage is, or how you are changing your strategy in changing times.
I see Somersoft as a group of people, a few with tall poppy syndrome, a few who do not speak much but it is gold when they do, some who speak perhaps without thinking first, but most who try to contribute and appreciate others from whatever level of investing who also do.
GoAnna, I am the same. By no means have I "arrived" or "made it", but I do feel that going into detail does sometimes may give the whiff of 'look at me', 'look what I have achieved' impression. Call it tall poopy syndrome or its probably more the Australian attitude that is generally more modest and laid back, so takes public disclosure of such information as a bit cringeworthy. Not sure you would have the same issues say in the US. LA Aussie may be able to shed some light in the difference in attitudes.
As for revealing figures, I am not sure what value there is in actually revealing that you might have $800k equity for example and are ready to purchase all the so-called bargains coming up. (Ok, maybe to bait those from the "dark side"
)Earlier on when i started to begin investing into property, and even when I joined this site, I was curious as to how many IP's people had, how old they were, how many loan commitments they had, how they did it. Less interested in that now, partly because, i have managed to start my IP journey and many of the fundamental quetsions I had , I answered myself through just doing it. Once the mystique goes, owning 1,2 or 5 properties is not such a big deal.
In saying that, in areas where I still have L plates on (eg renovating & developing) I am still interested in the numbers, but probably more interested in the process and how.
Gidday Mate! (I presume I know you well enough to be this familiar.
)You are not the only one who feels hesitant to write down their gross and nett. Me too.
However, there are some who are in the know
...my accountant (who is encouraging and gives me a pat on the back), my MB (who say's "when are you ready to go again?"), my bankers (who just want to see that I've added up my numbers correctly, so they can give me more money to invest).Given the recent speight of D&Ger's on SS, I am not prepared to put my gross/net worth out there for them to criticise, malign, and denegrate. I've worked too bl00dy hard to get my (good) debt where it is today, and it's taken much confidence and faith in my own knowledge and ability. So I'm not putting my hard-earned confidence and risk-attitude out there for just anyone to have a shot at.
GoAnna, I admire what you have done with your M & M's, and the opinions you have expressed on SS. That's elegant sufficiency for me....thank you!
For me, knowing a person's net worth helps me with 'input filtering'. That is, I don't have time to take advice from everyone, so I need to pick and choose who to take advice from. Obviously a person's net worth isn't the only criterion, but it's one of them.
For example, whenever there's a news story quoting some 'expert', the first question that pops into my head (for better or worse) is "Okay, how rich is this person?".
On the flip side, I'm not so concerned if people take my advice or not.
-Ian
For example, whenever there's a news story quoting some 'expert', the first question that pops into my head (for better or worse) is "Okay, how rich is this person?".
On the flip side, I'm not so concerned if people take my advice or not.
-Ian
I am of the view never to mention net worth or $s, nor your real name, and especially all three together.
Do you guys and girls realize somersoft threads and posts come up in general google searches?
If someone wanted to data mine you, they could pull a lot of private info out of the forum once they connected a nickname with your real name.
Personally, I think you can say all you have to by talking in % rather than $s.
Do you guys and girls realize somersoft threads and posts come up in general google searches?
If someone wanted to data mine you, they could pull a lot of private info out of the forum once they connected a nickname with your real name.
Personally, I think you can say all you have to by talking in % rather than $s.
Hi GoAnna,
I must admit that I was very hesitant at first with all the questions about net worth and how many IP's when I first came to this forum. I have mentioned before though how enlightening it was to actually talk about my properties with like minded people, as I really only have one/two friends that I can be candid with. I've felt like I'm living a double life!
After a while though, since I'd seen how relaxed everyone was and I hadn't picked up any tall-poppy "mowers" - I thought why not?
Doe anyone really have time to compare, or go back through threads and see who owns what and how many they own?
In any case: Aren't we only talking about our PROPERTIES net worth, most of the time? Come on I drive a 200k Porsche (Got it on special)
My point is: I guess we all do what er are comfortable with and I for one feel comfortable with it, but if you don't that is just fine! Maybe I'm too trusting . . . . .in the end . . .it's only money!
And Ian:
I understand what you are saying but there is an ENORMOUS loup hole in judging the value of advice on one's net worth.
Regards Jo
I must admit that I was very hesitant at first with all the questions about net worth and how many IP's when I first came to this forum. I have mentioned before though how enlightening it was to actually talk about my properties with like minded people, as I really only have one/two friends that I can be candid with. I've felt like I'm living a double life!
After a while though, since I'd seen how relaxed everyone was and I hadn't picked up any tall-poppy "mowers" - I thought why not?
Doe anyone really have time to compare, or go back through threads and see who owns what and how many they own?
In any case: Aren't we only talking about our PROPERTIES net worth, most of the time? Come on I drive a 200k Porsche (Got it on special)
My point is: I guess we all do what er are comfortable with and I for one feel comfortable with it, but if you don't that is just fine! Maybe I'm too trusting . . . . .in the end . . .it's only money!
And Ian:
I understand what you are saying but there is an ENORMOUS loup hole in judging the value of advice on one's net worth.
Regards Jo
I wouldn't be revealing that sort of information on a public forum at all, but that might just be me.
i have no problems discussing actual numbers and everything that entails, i don't mind being an open book for those that are genuine and want to know how to go about things, but only in a face to face and only when asked by someone I know, i would never volunteer that sort of stuff.
i have no problems discussing actual numbers and everything that entails, i don't mind being an open book for those that are genuine and want to know how to go about things, but only in a face to face and only when asked by someone I know, i would never volunteer that sort of stuff.
It's not tall poppy, more like big willy. Let's compare.
I prefer stories about what people have overcome. If your net worth is $3M, but you earn in excess of $250k a year and have done for many years, then big deal. If you earned $50k per year and have acheived the same milestone then that is impressive.
In many cases the questions asked do not provide any enlightenment, and are no more than casual interest. We are a nosey lot on the forum.
Regards
Andrew
good point Andrew. same applies for a high compound return over a period greater than one cycle. There's apparently a lot of genius passive property investors out there since 1999!
But suppose it only takes one boom to set yourself up to retire. Though is their example valid for the next 10 years?
