If the banks would actually value it at what people were prepared to pay for it, I'd get more valuations done next week. Unfortunately, I don't think that's the case at the moment. *sigh*
Well well well, how things change.
- Thread starter markpatric
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If the banks would actually value it at what people were prepared to pay for it, I'd get more valuations done next week. Unfortunately, I don't think that's the case at the moment. *sigh*
Congratulations Chillia.
Firstly, for posting such a goddamn long post - I would have given up ages ago.
Secondly, for your success.
And, greed is good.
No-one is going to knock on our front doors and say; "here: take this $10 million dollars as a gift".
You gotta go out and get it yourself, and when you do, you can live a grand life - and make other peoples' lives grander as well.
Firstly, for posting such a goddamn long post - I would have given up ages ago.
Secondly, for your success.
And, greed is good.
No-one is going to knock on our front doors and say; "here: take this $10 million dollars as a gift".
You gotta go out and get it yourself, and when you do, you can live a grand life - and make other peoples' lives grander as well.
Steal it from others and ration it back to them?, only one thing is certain it will be RATIONED .
How much will be enough before you start to give to others anything at all?.
It is written in stone you don`t need money to make others lives grander.
Many refer to the very memorable quote of Gordon Gekko, they must not have stuck around for the end of the movie!.
Greed is self destructive........ bigtime.
Give give give before you get get get.
It becomes a fine line of putting aside the small things that are really important that you will fix up later, only that day never/ever comes, you can`t buy it back.
Steal it from others and ration it back to them?, only one thing is certain it will be RATIONED .
How much will be enough before you start to give to others anything at all?.
It is written in stone you don`t need money to make others lives grander.
Many refer to the very memorable quote of Gordon Gekko, they must not have stuck around for the end of the movie!.
Greed is self destructive........ bigtime.
Give give give before you get get get.
It becomes a fine line of putting aside the small things that are really important that you will fix up later, only that day never/ever comes, you can`t buy it back.
Who are you to question others' morals and motives? Seriously. How do YOU know what is enough? Would you take a lower paid job to provide more potential for your employer to hire others and "share" the wealth? If you had 2 cars and your neighbour had none, would you give them one?
We don't live in a socialist society and everyone is responsible for their own patch. If this is too hard for you, move to China. I am personally quite comfortable with the fact that the risk and reward lies at my feet, but mate I don't accept your statement that after the blood, sweat and tears I've put into my own planning and investment while some others enjoy lives much more lavish than mine without thought of the future, that I should be held accountable for subsidising their mistakes. As it lies, I already do this to some degree by paying tax, but I also agree that much of that money goes to useful, fair and socially progressive means and I can therefore accept the good and the bad.
You need to add some depth to this viewpoint of yours, because as it lies it is a black and white oversimplification of life which underestimates the intelligence and social concience of many of those who invest for the future.
I don`t make the rules, life is not good to those who are open to the notion that greed is good.
Of course it is good to want things, there is no problem with this, this is what our society is built on, it is not perfect but it`s not bad, there needs to be a balance but it needs to err on the side of giving in everything is what I am learning.
Some say that any form of material want is wrong but I don`t actually go along with that.
There is a fine line is all I have always said and many here cross it which is their decision.
Other posters put up what they believe I express what I do.
What would be so wrong if a person was so well off in giving a big sum to your mum or brother or sister and don`t expect it back and let them do with it what they will!, to give it with restriction would be the worst, instead of shouting the riot act as if you are some superior being who deserves every cent you earned with so much heart and guts.
Greed is driven by fear, given a choice I would rather pass.
Of course it is good to want things, there is no problem with this, this is what our society is built on, it is not perfect but it`s not bad, there needs to be a balance but it needs to err on the side of giving in everything is what I am learning.
Some say that any form of material want is wrong but I don`t actually go along with that.
There is a fine line is all I have always said and many here cross it which is their decision.
Other posters put up what they believe I express what I do.
What would be so wrong if a person was so well off in giving a big sum to your mum or brother or sister and don`t expect it back and let them do with it what they will!, to give it with restriction would be the worst, instead of shouting the riot act as if you are some superior being who deserves every cent you earned with so much heart and guts.
Greed is driven by fear, given a choice I would rather pass.
Mark, I know nothing of your financial position but I'm willing to go out on a limb and and assume this, selling was your first 'bad' move, you've now turned that equity and income with tax breaks into after tax dollars.
Personally I've never seen a better opportunity to build a portfolio such as now and have been 'putting my money where my mouth is' and will continue to do so whenever I can.
Just my two cents.
Personally I've never seen a better opportunity to build a portfolio such as now and have been 'putting my money where my mouth is' and will continue to do so whenever I can.
Just my two cents.
This statement has to be taken in light of how long you have been investing in property to have any credibility.
Because i'm having trouble thinking of a worse time to build a portfolio and i bought my first property in 1988.
Because i'm having trouble thinking of a worse time to build a portfolio and i bought my first property in 1988.
That's because you're focused on the macro picture Evan. Are you telling me if you looked you don't think you could find any properties at all in the whole of Aust. that would be a good prospect/opportunity?! You're only one guy, you're not going to buy the whole market. Just because you're personally choosing not to look, doesn't mean they don't exist.
Someone starting out now shouldn't bother trying because it's impossible to find a property that won't decrease in value in the coming years? So they should delay their strategy for 1,2,5yrs until the picture looks much rosier again? Bareing in mind some people are just starting out on their journey and wish to build an asset base, not protect an already large asset base such as yourself.
Well you have got guts and I hope it does work out ok, for all our sakes.
I have certainly seen better opportunities, given hindsight of course.
You could quite easily turn out to be totally correct though that is not at all inconceivable.
I am glad to have sold what I have but the timing could have been a little better.
Was thinking something similar and went back to the last thread I read: Well I've just gone 24 hrs so far and I feel good,......I've been smoking for about 16 years
Most start smoking at high school so he's a thirty'something. I made my first steps out of the rat-race in '66. I really do know what dry gullies look like.
Full credit to those who find sweet grazing all the way (that cant all be luck) but a couple of warm days don't make summer.
Depends on perspective,
I'm celebrating that its minus 5, bcoz lastweek it was minus 20.
Two warm days, is summer.
AB. Apart from a few sad winters I've lived my life in the tropics. I have no idea what you're talking about.
'Tis 10pm, a few days into fall, and abt 27 degC. My fan is still on but I've switched the air-con off. It wouldn't be a pretty sight on web-cam ..... me sitting here in my jocks. LOL
Steal it from others and ration it back to them?, only one thing is certain it will be RATIONED .
How much will be enough before you start to give to others anything at all?.
It is written in stone you don`t need money to make others lives grander.
Many refer to the very memorable quote of Gordon Gekko, they must not have stuck around for the end of the movie!.
Greed is self destructive........ bigtime.
Give give give before you get get get.
It becomes a fine line of putting aside the small things that are really important that you will fix up later, only that day never/ever comes, you can`t buy it back.
Now Mark;
How can someone who works their butt off to get ahead, take a risk and borrow money to buy IP's, which provide roofs over the heads of people who can't afford to buy themselves, be stealing?
It is true, however, that you can make people's lives grander without wealth, but you can make a stack more people's lives better if you have some.
To my mind, if a person becomes wealthy through their entrepreneurial skill, or risk taking investments, or successful business ventures, and then decides to give some of that wealth back to the less fortunate - a la Bill gates and Warren Buffett, then that is a bloody good thing.
And, I am far from wealthy, but give money in various forms; have done for many years, and have seen two sponsor children of mine grow to adults.
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Hi all,
Sunny,
better than without them.....
Without greed......
Would Cook have bothered to find Aus???
Would Guttenburg have bothered to invent the printing press???
Would Stephenson bothered to invent the steam train???
Would Eddison have bothered to to try thousands of things that didn't light up???
Gordon Gecko said it well...
Without greed we do not have the capitalist system. What works better than what we have??? I cannot think of anything.
bye
Sunny,
better than without them.....
Without greed......
Would Cook have bothered to find Aus???
Would Guttenburg have bothered to invent the printing press???
Would Stephenson bothered to invent the steam train???
Would Eddison have bothered to to try thousands of things that didn't light up???
Gordon Gecko said it well...
Without greed we do not have the capitalist system. What works better than what we have??? I cannot think of anything.
bye
Hi Marc I gave some thought to what you said in this post and of course this is true to an extent, but really it is not that simple.
Which is why a forum like this needs some balance from so called D&G`s.
Problem is it becomes a mental baiting game where one section points the finger at the other and says "you are being negative, so you will never be financially free" etc etc.
There would be many people out there right now going through some serious pain due to being sucked in to this type of mentality.
I guess my main belief is that in any undertaking there is only going to be a small % who can acheive any level of greatness or financial independance, the world would not work otherwise.
It is a numbers game, it is not dependant on some magic belief formula for the vast majority.
Does anyone truly beleive that if we all read the books and truly believe that we can all become financially free etc, of course not, at some point it becomes a game of who believes more and how much you are prepared to keep believing when what you believe is simply not based on enough reality, at its most basic level it comes down to a time factor, we can all be anything if we have the time but it is a fact of life we don`t.
None of the gurus dwell on this because it would wipe out thier "pitch".
What happened with "the secret" is a great example.
A complete load of baloney at the end of the day.
Hi all,
Sunny,
better than without them.....
Without greed......
Would Cook have bothered to find Aus???
Would Guttenburg have bothered to invent the printing press???
Would Stephenson bothered to invent the steam train???
Would Eddison have bothered to to try thousands of things that didn't light up???
Gordon Gecko said it well...
Without greed we do not have the capitalist system. What works better than what we have??? I cannot think of anything.
bye
I would say that it was more a burning desire to acheive something than greed.
Edison would never have persisted so long for the sake of money, there were many many times where what he was pursuing seemed crazy or completely impossible, it takes a lot more than greed to continue on in those circumstances.
To go out an acheive something via working is not greed, greed would be based on getting without giving in the right proportion or attaining something via negative means such as ripping people off or putting someone at a disadvantage for instance/harming others/not being helpful to others/selling something as quality when it is not etc.
Growing up, my absolute favorite game was Monopoly.
Property investment is Monopoly, but in real life.
This is all very much a game to me.It challenges me to think of ways to buy more, when a bank would never even talk to me.Thinking outside the box, be inventive.
If anyone had asked me in December if we planned on purchasing any more properties, I would answered NO Way. Here we are getting down to closing on 6 rentals, and we have an appointment tomorrow afternoon to look at a property with 5 more house rentals.
I know I should be concerned, but I' m not.If we had to cut rents until the economy recovered, we could.
Property investment is Monopoly, but in real life.
This is all very much a game to me.It challenges me to think of ways to buy more, when a bank would never even talk to me.Thinking outside the box, be inventive.
If anyone had asked me in December if we planned on purchasing any more properties, I would answered NO Way. Here we are getting down to closing on 6 rentals, and we have an appointment tomorrow afternoon to look at a property with 5 more house rentals.
I know I should be concerned, but I' m not.If we had to cut rents until the economy recovered, we could.
...with a few notable exceptions of course.
1. Everyone gets paid the same amount at pay-day.
2. The utilities - water works and electric company, are extremely cheap to buy and the rent is bugger all. In real life they are worth 200 Mayfairs, not one half.....and the rent they generate completely swamps anything a couple of houses or even hotels can produce.
3. A railroad station cannot be bought for the same price of an average housing lot.
4. Income tax is not 10%.
Mark, How is using your money from working wrong ? Apprentice mechanic buys a car, does it up at work, sells it for a tiny profit, puts that together with his sacvings from his wages and ends up with double the car of his mates who did not do the same thing.. Or, mechanic saves all his money while his mates spend theirs like I did, and he ends up with a better car than his mates. Is one really different to ther other ?
Does your last paragraph really represent the definition of investing ?
If not, then how is it greed ?
If so, how so ?
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