Forum Replies Created
- fWord wrote:emptyvessel wrote:Johnny1974 wrote:Hi all Just my thoughts…… I to agree the world financially is pretty toxic at the moment and has been since 2006. Seems everyone, every sector, in every country is being hit hard. The only shining light is the worldwide mining industry. We have strategically sold down our portfolio of six properties to two since 2006. Taken the profits and walked away
We now have no debt, work less, have less stress. Hard work and property gains have enabled us to do this. For now I will keep all that cash fixed at 7% in the bank, don't have to worry about tenants, rates, insurance, repairs and the possible removal of negative gearing tax breaks. Maybe its time we all looked at other avenues to invest?Nice, well done. I would love to have that much cash. I am guessing inflation doesn't factor much into your strategy for now?
Strongly suggest you do look at those other avenues. I have been doing them for years and haven't done quite as well as you have with property. That said, made much more than I lost, which is doing pretty good.To a certain extent, this demonstrates people in different stages of their 'investment career'. In one of Michael Yardney's books, it talks about these 'stages'. In an investor's early life they are in the process of 'acquisition', growing their portfolio, while towards the end they put their portfolios through a stage of 'consolidation', selling down to take profits or otherwise convert a 'capital growth' portfolio into one of massive positive cashflow.
So obviously neither is the right or wrong choice. It depends on where each individual is in their 'investment career'. With that in mind, I am personally in the stage of acquisition, but when ready to retire, I will similarly perform consolidation. Of course, depending on your outlook for a particular investment, you could go against the grain of your own plan, temporarily at least, to realise greater fortunes.
Truth is, everyone wants the money without the associated stress of ANY form of investment. But you've got to start somewhere and it often means doing the hard yards first and enjoy the fruits of your labour later.
Couldn’t agree more fWord. We all get into investing to make money. At the ripe old age of 37, I opted out of the rat race for a simpler life. Have done the hard yards, achieved what I set out to achieve.
All I can say is…life is short, work hard, play hard, enjoy!! And don’t stress too much, its only money and you can’t take it with you when your’e dead.
Hi all
Just my thoughts……
I to agree the world financially is pretty toxic at the moment and has been since 2006. Seems everyone, every sector, in every country is being hit hard. The only shining light is the worldwide mining industry.We have strategically sold down our portfolio of six properties to two since 2006. Taken the profits and walked away
We now have no debt, work less, have less stress. Hard work and property gains have enabled us to do this. For now I will keep all that cash fixed at 7% in the bank, don’t have to worry about tenants, rates, insurance, repairs and the possible removal of negative gearing tax breaks.
Maybe its time we all looked at other avenues to invest?
As harsh as this might sound, you got into investment properties to make money. And that should be your only concern. Of course you should sign the contract for sale with vacant possession in there, because legally it can be done. This will get the sale over the line, and thats the most important thing for you.
The plight of the purchaser, tenants etc etc are of no worry for you.
Just my 2 cents worth. I have IP’s spread over three states, treat them as a business venture, because that is what they are. Leave emotion at the kerb and think with your head / wallet
We now have no debt, work less, have less stress. Hard work and property gains have enabled us to do this. For now I will keep all that cash fixed at 7% in the bank, don't have to worry about tenants, rates, insurance, repairs and the possible removal of negative gearing tax breaks. Maybe its time we all looked at other avenues to invest?
