Quote:
quote:Originally posted by JoeKing
There is no reason vendor finance deals will not work at any time! Finance is finance irrespective of who provides it.
[I remember an uncle of mine sold a block of land (40 ha) off the back of his farm at a very good price back in the 80s, providing vendor finance - land prices subsequently declined - the purcher got into financial difficulty - in the end my uncle's family got only a fraction of the agreed price for their land
Mick... the reason I am not doing any more (WRAP) deals?
1. As you have read (probably several times ) elsewhere I set out to prove to me that I could make $1 mil. in property starting with just $20k equity in our own home. (note NO! money!)in 3 years. Honestly it was so easy!!!! the challenge was met and so...
If I had such a winning formula that's going to provide me with infinite returns I would stick with it - I wouldn't be looking for new challenges - unless I thought that my winning formula had passed it's "used by date"
2. I moved onto my next challenge to make $1 mil on share market in 3 years starting with $40k. (Again I borrowed against equity then paid back the borrowed amount, so I have actually used none of my own money). In a little over 2 years my portfolio is worth (opening ASX ths morning) over $450k. I will even copy my portfolio page for you doubting Thomases. ref. copy of screen below.
Why did you need to borrow 40k to start a share portfolio when you have a multi million dollar property portfolio
Yep, nearly half way, and I have absolutely no doubt that I will reach my goal.
Why stop at a million - are you afaid your luck is going to run out. I must admit that I had my share of good luck too when I moved into commodities - the important point here, being, that I am aware that some of my success was due simply to good luck, not my exceptional ability to pick shares
I do get a little frustrated reading some of the drivvle in these forums, and seeing that many of the hopefuls that come here looking for good advice get side tracked by losers.
Winners are winners, no matter what they set out to achieve. Its all attitude.
I find it interesting that some people can so easily classify another person as either a winner or a loser ,ie, those that deal in property are winners and those that don't deal in property are losers. As you mentioned JK , 20 yrs ago you were broke - so someone gave you a break - someone didn't classify you as a loser and you were able to get back on your feet. Even a drug addict can turn their lives around - I'm not so quick to "Wright a person off". It wasn't so long ago that I could have been written off myself - in fact I'm sure I would have been by the likes of macdunk and yourself
It has been said before, but I will say it again:
There are 3 kinds of people.
1. Those that MAKE things happen
2. Those that WATCH things happen..
3. Those that just wonder what the fark happened...
You can put yourself in whatever group you chose. Irrespective of age, educational or social background. Cheers
I'v just finished a paper in development economics and I can assure you that social backround, cultural beliefs and values,and education levels have a huge impact on how people live their lives. Many of the worlds people cannot choose what they do with their lives.
Their lives are predetermined from the day they are born.