Gee we all post our GREAT deals here. But at times investment can be like dating. Yes ! There are great looking dates. That seem like lifestyle and lifelong good times. But over time can send us either crazy, to the wall or both
It is always easy to post the good stuff. But hard to admit bad stuff/ over zealous stuff/ market change or failure.
Anyone that has been through a couple of cycles will have experienced all of the above. As well as relationship/ family dramas. Not to many will admit it. Many just dissapear from here. And investing
A few of my failures: Hope others will also list.
Don't want to be the only Looser.
In the 1980's: Had to many properties that i purchased by gearing up on the value increases of properties purchased in the late 70's. Saw market double and thought it would never end !!! ???
About 1984 realised I was sitting in Poooo. Heaps of debt. Little rental rises. BUT interest rates going from around 11% to 18%.
Still was in denial
Covered the extra shortfalls by extra working hours.
Working 80 hrs a week with main employer and another 20 as Retained Fireman at NSW Fire Brigade.
At times the only sleep i got was on night shift doing emergency service with Electricity provider. If a quiet night.
Eventually had to dump some stuff. !8% was sending me bankrupt!
In the late 80's finally saw properties double over about 12 to 18 mths.
Finally it had paid off.
But the market then leveled off and did nothing till around 1998.
In that time I had kidney failure & was made redundant from my job.
God That was like suicidal stuff.
Big income gone Heap of debt. Sick as a dog. Expected to DIE
Sold down more stuff.
Started developing small spec stuff in time for 1998 to 2003 boom. Then sold out.
Very conservative at present. Not going back to 1980/1990' hopefully
Gee Cee
Greg
Conservative 40 something yr Old
It is always easy to post the good stuff. But hard to admit bad stuff/ over zealous stuff/ market change or failure.
Anyone that has been through a couple of cycles will have experienced all of the above. As well as relationship/ family dramas. Not to many will admit it. Many just dissapear from here. And investing
A few of my failures: Hope others will also list.
Don't want to be the only Looser.
In the 1980's: Had to many properties that i purchased by gearing up on the value increases of properties purchased in the late 70's. Saw market double and thought it would never end !!! ???
About 1984 realised I was sitting in Poooo. Heaps of debt. Little rental rises. BUT interest rates going from around 11% to 18%.
Still was in denial
Covered the extra shortfalls by extra working hours.
Working 80 hrs a week with main employer and another 20 as Retained Fireman at NSW Fire Brigade.
At times the only sleep i got was on night shift doing emergency service with Electricity provider. If a quiet night.
Eventually had to dump some stuff. !8% was sending me bankrupt!
In the late 80's finally saw properties double over about 12 to 18 mths.
Finally it had paid off.
But the market then leveled off and did nothing till around 1998.
In that time I had kidney failure & was made redundant from my job.
God That was like suicidal stuff.
Big income gone
Heap of debt. Sick as a dog. Expected to DIESold down more stuff.
Started developing small spec stuff in time for 1998 to 2003 boom. Then sold out.
Very conservative at present. Not going back to 1980/1990' hopefully
Gee Cee
Greg
Conservative 40 something yr Old
