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Sounds exactly like you?re quoting from a rich dad poor dad book.
wattleIdo
that's not fair, you just cant do that, you should fess up, was it u
Leo
Buying at the right price/under market value, developing, cashflow + etc. are great strategies, however its impossible to know how far a market will fall in a bust cycle regardless. There are no guarantees not even with blue chip (another myth), when the market crashes we can and have seen falls of up to 40% in Australia.
Agree mate. I guess I just don't factor in a major crash like that into my maths. If it happens it happens and ill deal with it. I'm also not particularly worried as my LVR is low.
If you are mitigating the risk with strategies mentioned, great, however, I would not disregard ever selling as another strategy to move forward and reduce debt. I have learnt the hard way, from experience.
Fair enough mate. If it works for you then that's all that matters
Leo
MTR[/QUOTE
I think there's also cautious investing . We've geared up heavily on two occasions and on both occasions started cashing out well before what we thought was the peak . Our previous sell off enabled us to be cash buyers when the GFC hit and our recent sale put us to a much stronger position , so if we want we can make further purchases out side Sydney without overexposing our selves.
Cliff
Hi Leo
While you may consider investing in different places at relatively close time frames as going though different cycles , I'd probably disagree with you .
The big variables are the economic / financial ones and those are generally Australian wide and these tend to have a greater variation , rather than state to state . In the last cycle , we had a PPOR and commercial property in Sydney , and investments in Logan , rocky , Townsville and Hobart and all of those investments followed a similar pattern .
This cycle has been different , in particular in Sydney to last one .
Cliff
mate at the moment, there is someone in the chartroom pretending to be you!! talked to me for 20 mins! I am massively annoyed!! I am contemplating leaving this place.
Leo
Not me
Haven't been there for 2-3 months .
But seriously , if you want to be a long term successful investor , you'll need a thicker skin if something like that annoyed you .
Cliff
Hey MTR,
I've calmed down a bit now. I was fuming before. but I am not going on the chat room anymore.
Leo
Not going to get you anywhere acting like that Leo,just start walking slower..
Why talk about personal stuff in a chat room some good people are in that chat room each day so you gotta start to read between the lines,and sometimes to me it seems that the most unsuccessful people are the ones that give the most advice particularly about financial matters,most people in this site and other equities I visit investing sites can see inbetween the lines and would not even waste their time talking to them,then you have Sim who has too fix up the mess,Sim has better things to do and they do it for free just think about that for a few seconds,and btw a slow walk can fix any problem that all I talking about if that upset you then I;m sorry....Willair I don't know what you mean buy that, but lets see how you feel when someone takes someone else identity and talk to you for 30 mins about some personal stuff. See how you like it.
Leo
Why talk about personal stuff in a chat room some good people are in that chat room each day so you gotta start to read between the lines,and sometimes to me it seems that the most unsuccessful people are the ones that give the most advice particularly about financial matters,most people in this site and other equities I visit investing sites can see inbetween the lines and would not even waste their time talking to them,then you have Sim who has too fix up the mess,Sim has better things to do and they do it for free just think about that for a few seconds,and btw a slow walk can fix any problem that all I talking about if that upset you then I;m sorry....
You never know what you'll miss out on . The block of units I bought for 220 10 years ago are now returning over 800 / week , and that was from a chat room tip .
Cliff
ive never tried the chatroom, sounds like im missing out
ive never tried the chatroom, sounds like im missing out
wattleIdo
that's not fair, you just cant do that, you should fess up, was it u
It's overrated believe me.
For awhile there Rixter was calling folks into the chatroom and I went in and not much happened except small talk. Nothing worth noting anyway.