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  1. #9971
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    Quote Originally Posted by Ggcc View Post
    Almost impossible for some unless you have previous business with bank. I knew someone who had over $3 million in shares plus a freehold house. The bank would not let him borrow/mortgage his house worth $100,000. He wanted to buy shares during the first pandemic drop
    Most probably that he knew nothing about Margin Lending.

  2. #9972
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    Quote Originally Posted by RGR367 View Post
    Most probably that he knew nothing about Margin Lending.
    Nope he doesnít. Maybe because he doesnít use technology. I donít know how he will survive in the coming years not owning a computer or cellphone, but hey has survived until now.

  3. #9973
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    Quote Originally Posted by Maverick View Post
    I guess some pushback was inevitable by speaking against owning rental properties , fair enough. Apologies now that I'm about to go really off topic but at the end I do mention OCA twice.

    I know you have plenty of OCA TommyD, well done , so you will have an open mind to weigh things up for yourself and I suspect think this way already. I am saying though that most NZs are falsely obsessed with rental property to the exclusion of much better forms of property ownership out there, OCA being the one that stands out the most to me for now.
    i haven't quoted the whole post, but think the whole post is great.

    Reminds me of a mate a couple of years ago when i said i was focused on paying down mortgage debt. He looked at me like i was stupid, and then confirmed by asking whether i really didn't back myself to return greater than 4% on the sharemarket?!?!? I eventually took that advice
    Same guy advised me to load up on SKL at $1.70-ish when he was doing so to the tune of high five figures. Should have taken that advice too.

  4. #9974
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    Quote Originally Posted by tommy_d View Post
    i haven't quoted the whole post, but think the whole post is great.

    Reminds me of a mate a couple of years ago when i said i was focused on paying down mortgage debt. He looked at me like i was stupid, and then confirmed by asking whether i really didn't back myself to return greater than 4% on the sharemarket?!?!? I eventually took that advice
    Same guy advised me to load up on SKL at $1.70-ish when he was doing so to the tune of high five figures. Should have taken that advice too.
    LOL - has your mate got any advice for what we should be doing now ?

  5. #9975
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    Quote Originally Posted by Ggcc View Post
    Almost impossible for some unless you have previous business with bank. I knew someone who had over $3 million in shares plus a freehold house. The bank would not let him borrow/mortgage his house worth $100,000. He wanted to buy shares during the first pandemic drop
    moral of that story, never finish paying off a mortgage, keep a 10k debt average on a revolving credit flexible mortgage with access to 30% (or name your poison) of the home value. Easy and immediate access to the money, don't even have to talk to anyone. A mate in dunedin had the same issue when he wanted to buy shares last march, but he asked to draw down against his equity for "home renovations" and got told "no, you won't be able to get a builder in anyway" - he reflected afterwards he should have said he wanted to use it to buy a boat and a new car...
    Last edited by tommy_d; 16-09-2021 at 05:20 PM.

  6. #9976
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    good point, i haven't talked shares with him for a while. He's a bit limited in what he's allowed to buy cos blah blah market rules etc

    actually - he did say "bro, don't quit your job and take a year off - you should be earning and saving and hitting that capital base"

    oh well. I'll be unemployed two weeks from now. Guess i didn't take his advice on that one either. Next he'll be telling me not to head to europe without a plan, following that advice for now.
    Last edited by tommy_d; 16-09-2021 at 05:23 PM.

  7. #9977
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    I had a 200k Flexi facility last year in March, dropped most of it on HGH, OCA and ANZ. Very uneducated about the share market but it seemed like a good idea according to my gut. Jumped in early April, have learned many lessons on how to position yourself to maximise capability. Iíve fixed most of the lending now but still have a 50K Flexi.

    Weíve got two new builds on the go and our place being renovated but our account and the portfolio balance keeps growing. Looking forward to watching OCA grow. Thanks to Mav and other top posters in the thread for helping our success.

  8. #9978
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    Quote Originally Posted by thegreatestben View Post
    I had a 200k Flexi facility last year in March, dropped most of it on HGH, OCA and ANZ. Very uneducated about the share market but it seemed like a good idea according to my gut. Jumped in early April, have learned many lessons on how to position yourself to maximise capability. Iíve fixed most of the lending now but still have a 50K Flexi.

    Weíve got two new builds on the go and our place being renovated but our account and the portfolio balance keeps growing. Looking forward to watching OCA grow. Thanks to Mav and other top posters in the thread for helping our success.
    Thatís awesome to hear. Always enjoy the success stories of others. I wish I had the kahunas to go in big after the first drop last year. I bought some OCA for under 50 cents, but should have gone to town at the time. Oh well hindsight Iím still a happy Chappy

  9. #9979
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    Here is my first post in this forum. Thank you all for sharing information and analysis. I bought my first OCA shares today, hope will get some good returns as I am still learning how to invest in NZX

  10. #9980
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    Quote Originally Posted by FrankF View Post
    Here is my first post in this forum. Thank you all for sharing information and analysis. I bought my first OCA shares today, hope will get some good returns as I am still learning how to invest in NZX
    Welcome to the forum Frank. Enjoy the ride.

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