When did the penny drop?

[Sando]

For me it was about 3 years ago at the tender age of 29, and after a decade of decadence I realised I had to get my **** together. My girlfriend gave me a book called The Richest man in Babylon. A good simple message. From 30k worth of consumer debt to 3 IPs worth 1M and mortgage of 680k in 2 years

 

[D.T.]

Hi Sando,

From 30k worth of consumer debt to 3 IPs worth 1M and mortgage of 680k in 2 years

WOW, that sounds quite remarkable. Do you mind saying how?

-Regards

Dave

 

[Sando]

Sure dt2k, what i did was sell my flash car, paid out the 25k

finance, paid off my credit card about 4k. Purchased house at

Carina [Brisbane] for 149k March 01 with the help from little

Johnny's FHOG. Prices really started to move, December 01

purchased 2nd house at Woolloongabba for 220k. Purchased 3rd

one at Wynnum for 288k September 02.

Current valuations:

Carina - 300k

W'gabba - 350k

Wynnum - 380k

Mortgage - 680k

Sure beats driving a nice car.

 

[Jas]

The power of price movements in a boomtime!

Go Sando!
Jas

 

[MarkB]

Or as Peter Spann would call it, "universal convergence".

(realising this is, of course, a chat on Jan Somers' site).

MB