Quote:
quote:Originally posted by Bel
Can you please tell us in dollars how much money buying this section has put in your pocket.
Bel sorry cannot put an exact figure, but somewhere else (maybe another thread?) I briefly outlined how I used $20,000 equity in our home and turned it into more than $1 mill in less than 3 years, and used not one penny of my own! At one stage I owned 37 houses. At a guess I would say probably 2mil+ (without selling our home) Could have been a lot more but I gave up property investing a couple of years ago.
This is a forum for investors not farmers counting there chickens before they hatch.
Ahem... this thread is entitled NZ 1st homebuyers are ScReWeD...
Converting useless money into securities such as property will always be a great scheme but the points are that property is not the only vehicle for investing nor is taking out a mortgage the only method of purchasing a house.
I don't think anyone is disputing this, tho I have never actually had any "useless money"
A a great question would be how much money has you buying this section put in the banks pocket.
Perhaps a more relevant question might be "how much money has the bank put in my pocket"? If the bank has done ok as well thats fine by me.
I have a very nice orchard, people say virtually everyday when they come to pick fruit "look the birds are murdering your plums - peaches - nectarines - grapes whatever," my reply is "as long as I get what I want, they are welcome to what is left, the same as you are"
There a literally millions of people who would dearly love to own their own home. Most don't, simply because they have been told, and believe they can't.