it was a bloodbath in the tech wreck of 2000... and all the doom and gloom on this site....it was almost over whelming
posters were bragging, they had sold their family homes...they would buy back in one or two years for half the price... ps...they are still here, still not bought again...cause the market has priced them out of the market... they will never be able to buy in that suburb again...they will have to pay triple the price in some outer suburb.. or stay renting for lie...
a cowboy mentality...comes at a price...
I decided the cowboys who were running all those companies, that then crashed....and took my hard earned with them.....would never get their hands on my money again... the stockmarket became a gamblers den...and just look how true that is again today...11 years later...
I did not like the rules...so opted out of that game
I decided only I would be in control of what happened to my hard earned money...only I would manage my funds... I would have total control over my investments
leaving your money in cash is a total misnomer... no room for capital growth , and the earnings barely cover the cost of inflation...then add on the devaluation of the dollar...so you are behind to begin with...there is no way cash can keep pace with inflation, or retain its value
so I opted for the housing market....I was a contrarian...everyone was against housing at that time... houses were going to crash , just like the stockmarket.... they used figures of 40% crash...as imminent
so I went out and bought up a stack of bargains... the RE agents were just as depressed as the stock investors... it was easy pickings.. it took the same protesters another 4 years, before they decided the housing market was the place to be.... by that time, when the herd arrived, it was all too late...
all of us property investors were quietly enjoying the lack of interest from the media....they had exhausted their screams of house prices must crash.... and we just sat and watched the constant rise in prices...from all the other people, who went about their business of buying houses...as a roof over their heads...
suddenly I was getting calls from agents,,,,mr and mrs so an so are looking for house in your street, they are prepared to pay xxxxxxx....which was triple or quadruple what I had paid... I had intended to hold my properties for either 10 years, or a triple in price, whichever came first..... some properties had only been held 3 years...and voila the price had tripled...so I stayed true to my goals and sold them.... but I only sold half....I kept the true gems...
I spend a lot of time on research, and keep my ears to the ground, take note of what is going on, what changes are proposed for that area....I watch the whole community... and I listen to all and sundry....I take note of house sales in several areas, and proposed developments.... I am interested in several suburbs...all are within my comfort zone..... I dont take much notice of lame stream media....I respect the views of only a few commentators, who have a proven track record....with similar views to my own...
I am not a slave to the PC, internet, asx announcements, stockmarket pundits, or all and sundry who need to sell a product, to make their money, or profits....
the buck stops with me....I am more than happy with my income, lifestyle and assets.....all due to my property investments....and my self employment
I am fully aware, not everyone...has the same drive, goals, or dedication.....required to arrive at the same place....
