What was your biggest finnancial mistake and......

Discussion in 'Investment Strategy' started by Alan__, 18th Feb, 2007.

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  1. rjsk23

    rjsk23 Member

    Joined:
    1st Jul, 2015
    Posts:
    5
    Location:
    Adelaide
    Educating oneself


    Hi Blade, Know how you feel, my parents always taught me that if you can not afford it with cash don't buy it. Never get a loan etc.

    5 years ago we bought 2 semi-detached homes (ex-housing trust) alongside each other for $95k, currently worth $260k, 2 years ago bought another semi-detached for $75k, currently worth $145k. Parents were horrified that we borrowed money to buy, even after explaining to them about capital growth for our retirement. We own our home valued at $205k, now looking at buying interstate. One major error we have made with these investments, is renting to family members, rental returns are very low!

    Moral to this story, parents don't always know what is best for their children regarding investment opportunities. However ongong careful research is required. Making mistakes is a learning tool. Also do not buy properties on emotion.

    We are heading for a pleasant retirement through our own planning & not listening to our loved ones.
     
    rjsk23, 18th Apr, 2007
    #21
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