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21-01-2007, 08:51 AM
#201
Member
Property does so well because of leverage which magnifies returns. In the long term prices always rise.
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21-01-2007, 08:51 AM
#202
quote: Originally posted by Mr_Market
quote: Originally posted by JoeKing
Let me let you into a little secret... EVERY! super successful entreprenuer throughout history has made their fortunes via Real Estate
Have you not heard of Warren Buffett. Second richest person in the world (after Bill Gates). Made his fortune in in stocks, averaged over 20% return pa for over 40 years.
I suppose he lived in a rental all his life. macdunk
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21-01-2007, 09:42 AM
#203
Member
Ah JK
The richestman in Babylon by G Clason. Have given this book (besides recommending it to a lot of friends and this forum-doubt anyone here would have bothered) to each of my children - incidently they are mortgage free apart from my daughter(who would have been also until she bought into a high country station in the south island).
Cheers
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21-01-2007, 09:45 AM
#204
quote: Originally posted by duncan macgregor
[brI suppose he lived in a rental all his life. macdunk
Nope, I do believe that he owns his own house
Death will be reality, Life is just an illusion.
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21-01-2007, 10:58 AM
#205
Member
quote: Originally posted by Steve
quote: Originally posted by duncan macgregor
[brI suppose he lived in a rental all his life. macdunk
Nope, I do believe that he owns his own house
Which no doubt he bought when undervalued. 
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21-01-2007, 11:06 AM
#206
joeking.... I never said one time that I have a future in the sharemarket.... I said that I've got 2 or 3 more years there.... enough to build up a deposit of 50%.... already on track....
a sideways market for 2 years at minimum, a falling market even better is all it may take....
"ok jK, I will have a look at the richest man in babylon.... do you have a spare copy?"
JK, so whats your advice about that Aranui squallor....? where has that cantab gone.....?
Cantab....the agent that carrys a weapon to open home reviews for his clients protection
[8D]
.^sc
BITCOIN certified rat poop. NSA created, Expensive to send, slow, can only trade on cex, no autonomy, spaghetti code, has been hacked, accidental Backdoor brc20s whoops, no one building on it, alienated all cryptos against it, volume is fake, few whales control large supply... it will perform though
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21-01-2007, 11:27 AM
#207
at the moment Im only earning about $300 after tax.... am I wrong to assume that I can't get a house now?... on such little income.... although I do have 40k liquid assets......
my view is that I've got to wait until I graduate at year end....
The thing is no matter what decision I make, that I have a strong group of people that I can get advice from....
you can't sqeeze someone into a catagory from internet posts buddy... It dont matter what catagory I fit into in your views.... It has been interesting in trying to take a view against property... just to see what response I would get...
give me two years, and then talk....
[8D]
.^sc
BITCOIN certified rat poop. NSA created, Expensive to send, slow, can only trade on cex, no autonomy, spaghetti code, has been hacked, accidental Backdoor brc20s whoops, no one building on it, alienated all cryptos against it, volume is fake, few whales control large supply... it will perform though
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21-01-2007, 12:27 PM
#208
The BNZ are doing their best to keep the property market ticking over
BNZ in pre-emptive strike on loans
The mortgage war is back on as Bank of New Zealand yesterday produced a special offer two-year fixed rate of 7.85%, 0.5 percentage points below the other big banks.
Death will be reality, Life is just an illusion.
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21-01-2007, 12:38 PM
#209
Member
[quote]Originally posted by Shrewd Crude
".... enough to build up a deposit of 50%.... already on track...."
Shrewdie, good luck. Don't lose site of the fact that most people caught in the rental rut are desperately trying to save for that illusive initial deposit. If you chase a rainbow it will keep moving, turn around and walk away it will follow you.
"ok jK, I will have a look at the richest man in babylon.... do you have a spare copy?"
I bought my copy 50c at a weekend market 25 years ago. It is getting a bit tattered but I would not part with it. You can get a copy here
http://www.goodreturns.co.nz/books/product_info.php?products_id=333
"JK, so whats your advice about that Aranui squallor....?"
I guess every town has its better suburbs, arn't we lucky to be able to choose? My guess is people who live there are probably quite happy
FOODEE
Good to see there is at least one other on this thread who sees wisdom can come in little packages.
I have given all my kids a copy of Og Mandino's "The greatest salesman in the world" too, and they regularly come to borrow from my extensive library. "Affirmations" by Stuart Wilde I would also highly recommend.
Cheers
JK
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21-01-2007, 12:49 PM
#210
Member
quote: Originally posted by Mr_Market
Have you not heard of Warren Buffett. Second richest person in the world (after Bill Gates). Made his fortune in in stocks, averaged over 20% return pa for over 40 years.
Well actually yes. -- lives in a house he bought for $31,500, He's worth $36 billion ... give or take a few mil.
And made his money buying and selling WHOLE COMPANIES.
I don't think Shrewdy is that far advanced.... yet.
Cheers
JK
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