The last laugh

In Feb 08 I was chatting with a friend at work by the photocopier (as you do) about the fact that I was looking for a property to buy in Kings Cross area. One of the guys walked past and casually said "the only ones saying now is a good time to buy are the real estate agents". I just smiled and said oh well.

I bought a 1 bed unit in Elizabeth bay (or Potts Point depending on the reference) 2 years ago today actually.

I paid $218,000 which was under market value.

So I just saw a Residex comparative market analysis on my unit.

Comparative sales = $310,100

Residex price estimate =$341,500 :D:D

Now just waiting for him to step into my conversation again so I can tell him.

Wonder how much he made in the last 2 years?:p
 
Haha! Awesome!

You should leave a copy of the residex report at the photocopier! Next time you see him at the photocopier, casually walk up, collect your report, and say "nice, $120k increase in two years on my Kings Cross IP - tim tams are on me"

Good stuff and well done!
 
well done, you took the action, and it has paid you well.
not bad little earner for a hobby.;)

a story goes like this , the guy studdies very hard to get his pilot licence, after three years he finally gets it, as he was feeling so proud, he puncuated it aloud at the local pub , i passed and i am now a pilot, the others in the bar cheered and said horay , your shout, your rich enough to pay for my beer, and the others.......just wanted a free flight, keep it to your self you know your good, you dont need to tell others, and thats all that matters...:cool:
 
It's great that you've made money. Well done.

Hubris can be a dangerous thing. Sometimes there is no shame in taking a profit.

Don't expect your IP to increase tenfold over the next two decades. Look at overseas precedents when deciding when or if it becomes fully priced.

The developed world is replete with many examples of markets that peaked, only to fall over the next 20 years.

That said, you've bought well and seem not to have overpaid.
 
It's great that you've made money. Well done.

Hubris can be a dangerous thing. Sometimes there is no shame in taking a profit.

Don't expect your IP to increase tenfold over the next two decades. Look at overseas precedents when deciding when or if it becomes fully priced.

The developed world is replete with many examples of markets that peaked, only to fall over the next 20 years.

That said, you've bought well and seem not to have overpaid.

Thanks but it's not my only investment. I know how it works. Thanks for the advice anyway.
I like your style. It's a bit like telling someone they are pretty while you rob them isn't it!
 
Thanks but it's not my only investment. I know how it works. Thanks for the advice anyway. I like your style. It's a bit like telling someone they are pretty while you rob them isn't it!

I'm glad you are making money. I don't mean to rob you of anything. Schadenfreude is not a word in my dictionary. I'm delighted that you "know how it works". May the markets be with you.

If 5 years it did matter.......for most investors in California and Florida *giggle*....they too knew how it worked.
 
I'm glad you are making money. I don't mean to rob you of anything. Schadenfreude is not a word in my dictionary. I'm delighted that you "know how it works". May the markets be with you.

If 5 years it did matter.......for most investors in California and Florida *giggle*....they too knew how it worked.


You have missed the whole point.
My point was the attitude, not that I made money (which I haven't really). If I sell at that price THEN I have made money.

If you're happy being a half glass guy that's fine.

"That said, you've bought well and seem not to have overpaid." Is this your idea of a complement. If so may you never have influence over children.

I didn't say I knew it all (far from it). It's just your attitude "Don't expect your IP to increase tenfold over the next two decades". I know that as would even a beginner. I do know a little about how markets work but no-one has a crystal ball. Even "experts" get it wrong.

So I'll have to be content with what I'm doing (seems to be working so far)
 
These sorts of attitudes are always present.... your office colleague has many 'friends', many of which can be found in my work place.

I agree with the comment about keeping your successes to yourself. Nothing good can come of sharing your experiences unless you are with like minded people. Such people are generally hard to find in the workplace, IMO, because such people are more entrepreneurial and thus, are generally not found in the average workplace. Of course, there are those of us that can see another way and are working hard to get there.... ;)

I find the attitude you refer to, both frustrating and comforting. The frustration is obvious. The comfort comes from knowing you're not of like mind and that because of this, we are able to move forward. ;)
 
What's comforting is eventually leaving the place of work when you really get it right.....and then 2 years later going to lunch with one of your mates for lunch, and he invites you back to the office for a coffee.

When you bump into the same people with the same "you're just wrong" attitudes, both above and below you on the work food chain.....it's strangely pleasing to see them still bashing away, still despondent on Monday's, still nearly as excited as you are on a Friday arvo, still clock watching, and still ever wary of their bosses who stalk the halls.

All I can say is : Money trumps office rank every time. Forget climbing the corporate ladder.
 
All I can say is : Money trumps office rank every time. Forget climbing the corporate ladder.

:confused: Unless of course your career is not centred around $$$ .... If money is the only trophy, then life would be a dismal existence.

Please don't get me wrong, I understand the sentiment entirely, and look forward to such an experience my self oneday, however, my career has provided rewards $$$ simply can not buy. $$$ would however provide me the freedom & flexibility to achieve those rewards without all the other unnecessary 'corporate drivel' that comes along for the ride... ;)
 
Like steve mcknight say, why climb the corporat ladder, all thats above you is someone elses *** looking down. Create your own ladder and travel on wherever you please.

As per phone conversation other night TBug, Your on the right path, and its funny looking back at the ridiculous storys people give you.
 
:confused: Unless of course your career is not centred around $$$ .... If money is the only trophy, then life would be a dismal existence.

Can't speak for anyone's career, but mine involved digging holes. After about 2 or 3, the novelty kind of wears off.

After a few hundred, the novelty, the personalities, the challenges all disappear.

Worker - "OK lads, this is hole # 117, why don't we spice it up a bit, and try something new ?? Could be interesting and fun."

Boss - "Shut up worker, and just dig faster, I've got hole #'s 118 and 119 waiting for you."

Worker - "Yes sir. Digging faster sir."



Money isn't the only trophy Indifference, it's the key to unlocking the door which takes you inside to a much warmer and comfortable place out in the frosty woods. Anyone who says they really enjoy dancing around in the snow and wind and sleet and isn't interested in going inside where it is warm and cosy.....well....let 'em dance around in the snow and wind to their hearts content I reckon.


One of my sister's has worked in a career that she loves enormously, and has never been paid a high salary. Up to this point, it has never worried her. Now that she has had a run in with her boss, she is left with no option but to leave. All of the non-monetary fluff has quickly vanished and she's left with the horrible choice of having no choices. Anyway, people have differing objectives.
 
Hubby will be going back to work in a month after nearly twelve months' leave and LSL. His job until probably the last year before he took leave (he's 51) has been enjoyable but it slowly started getting more demanding and hectic.

He'll go back in a month, and if he doesn't like his job any more, he can walk away. That is what investing has done for us.... given him the freedom to walk away from his job.

We are not rich, but we have flexibility that many men at 51 just don't have.

Of course, if he returns and has a new spring in his step, he'll keep working until he wants to do something else.
 
Hell yeah!

What's comforting is eventually leaving the place of work when you really get it right.....and then 2 years later going to lunch with one of your mates for lunch, and he invites you back to the office for a coffee.

When you bump into the same people with the same "you're just wrong" attitudes, both above and below you on the work food chain.....it's strangely pleasing to see them still bashing away, still despondent on Monday's, still nearly as excited as you are on a Friday arvo, still clock watching, and still ever wary of their bosses who stalk the halls.

All I can say is : Money trumps office rank every time. Forget climbing the corporate ladder.

That will be sweet. :D
 
Dazz +1

Even better is when the rellies keep asking when are you going back to work or how can you afford to keep travelling around etc.
 
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