Timing or progress so far - a brief outline

As with everyone else thanks for giving us a glimpse into your investing portfolio so far See Change..

Looking forward to the next exciting installment ;)

REDWING
 
see_change said:
I always like one thing that one of Paul Zag's friends told him.

In the first Cycle , you say " What the ..happened ..?" , the Second cycle you say " Gee I wish I'd been ready for that..." , the Third Cycle is where you make you money.

For me the first cycle was 88-89 ... missed it completely ( still remember the double waterfront block at Putney for 200K .... :( ). In the Second Cycle , we've caught the second half ( mainly due to involvement with somersoft )and are well placed for the next one which I'm looking forward too.

See Change

I can relate to that, I missed the last one, and was ready for this one and read it down to the detail but was not financially ready to act in order to make millions but I`m not complaining at all, it`s all a matter of truly believing you can do it as well and opening your mind to it, that doesn`t happen overnight for someone from the wrong side of the tracks who has been bought up to believe they will never have it, almost like it is written in stone.
Also the boom prior to this one I saw many, who (to my thinking) were experienced investors lose it all when the market tanked, which also teaches you to never take anything for granted.
I now of course know they were far from experienced, sadly 90% of those in this position that come to mind, never recovered from it or died of old age or illness, when you lose so much money at an advanced age it`s hard to bounce back I suppose or maybe too much effort to get it back than it`s worth.
Which highlights why I suppose we need to enjoy "getting there".
 
As for cycles, I'd though I missed the boat, given the huge increases seen in the three years to Dec 2002 (when I thought IP could be a good idea).

As it turned out, my best-performing IP was bought in Sept 03. This time turned out to be about the peak of the boom in Sydney/Melbourne, maybe two-thirds up the boom in Perth, half-way in Rockingham and even earlier in some regional areas.

On the other hand some shares were sold in March 03 (the exact bottom of the share slump) to fund the first IP. Although percentage wise that particular IP hasn't appreciated as much as the shares might have, due to the leverage involved I would still be ahead.

But overall I count myself fortunate to have bought something (meagre as it was) in the one regional city that was only just starting its rapid increase at this late hour.

Rgds, Peter
 
GreatPig said:
Great post, See Change.

Just wondering, with all your research into the markets in Sydney, Logan, Rocky, Townsville, and Hobart, how much of your time was being taken up doing this?

Was it pretty much taking up all your spare time, or perhaps only a few hours a week?

Cheers,
GP

Spare time ?? What's that ... ;)

no... seriously , I have phases where I'll spend most of my spare time on checking things out, but I think with each buy, that time gets less as I'm building on prior knowledge.

Personally I find spending all my time looking at properties boring.

When I first looked at logan I didn't have much idea on the different types of houses , their pro's and cons and whether people like them to rent or not. For someone from Sydney , looking at a highset in Brissie for the first time it takes a while to adjust to what you're looking at.

When we were buying in Rocky , I knew all about the different types of houses and didn't have to worry about deciding what type of house I wanted.

See Change
 
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