Biggest risks you've taken.

Discussion in 'Living Room' started by Steven Ryan, 7th Jul, 2015.

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  1. Steven Ryan

    Steven Ryan Well-Known Member

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    What were they?

    How'd they pan out?

    My experience has been that taking risks improves my life, generally.
     
    Steven Ryan, 7th Jul, 2015
    #1
  2. Steven Ryan

    Steven Ryan Well-Known Member

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    A few come to mind to get things rolling.


    One day, at age 19, I suddenly had a realisation that I needed to get out of my home town or perish. I shared this thought with my parents the same day I had it. Dad said “Really? We’ll help.” 5 days later I was living in Sydney. Definitely worked out for the best. Didn’t have much time to say goodbye though.


    A couple of years ago I started hosting strangers in my apartment via Airbnb to make life interesting. I wasn’t going to be doing any international travel for a while so why not bring the world to me? Turned out to be one of the most enriching experiences of my life. I’ve had a stream of amazing human beings from all walks come through and my social skills have improved massively. I even helped some guests with their investments. Oh and Airbnb ended up flying me to the US last year to talk about being a good host. That was fun.


    I bought an apartment with an unconditional offer at the first open in 2014. I didn’t do a strata report (no time) but door-knocked some neighbours the night before and was satisfied with their responses. I was trying to wrap it up before any other offers came in. It worked. I got it > $40k under value.
     
    Steven Ryan, 7th Jul, 2015
    #2
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  3. Tillie

    Tillie Well-Known Member

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    Leaving a promising career, friends and family behind in Europe and immigrating to Australia and start all over again. Now probably in much better position financially as a result.
     
    Tillie, 7th Jul, 2015
    #3
  4. Steven Ryan

    Steven Ryan Well-Known Member

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    How long ago did you make the move @Tillie ?
     
    Steven Ryan, 7th Jul, 2015
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  5. The Y-man

    The Y-man Moderator Staff Member

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    I've taken so many stupid risks I can't even remember them. Thank the Lord he's brought me through all of them so far...!

    I remember one time I got real scared was climbing up a rock face at Cape Woollamai many many moons ago, and the rock I grabbed to go up just came away from the cliff.....

    The Y-man
     
    The Y-man, 7th Jul, 2015
    #5
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  6. Gockie

    Gockie Life is good ☺️ Premium Member

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    Yikes!!
     
    Gockie, 7th Jul, 2015
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  7. Tillie

    Tillie Well-Known Member

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    About 15 years ago, when I was young and stupid enough to fell in love with someone from the other side of the World and who had burning desire to move back to Australia ;)
     
    Tillie, 7th Jul, 2015
    #7
  8. Steven Ryan

    Steven Ryan Well-Known Member

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    Moral of the story....fall in love? ;)
     
    Steven Ryan, 7th Jul, 2015
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  9. Tillie

    Tillie Well-Known Member

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    Absolutely, the biggest risk that anyone can take :D
     
    Tillie, 7th Jul, 2015
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  10. tomlemke

    tomlemke Well-Known Member

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    Buying ip5 with 2 other ips leases about to expire couldn't pass on such a good deal!
    7.5% yield at slacks creek Looking at comparable places now i reckon i would of had
    at least a 50k gain since feb.
     
    tomlemke, 7th Jul, 2015
    #10
  11. MTR

    MTR Well-Known Member

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    There has been many, but I think highest risk was buying 8 foreclosure properties in Atlanta USA in 2012. First year was difficult because we needed to renovate, find suitable property management company, US accountant and set up the right structures.

    Fast forward today - values of these properties have tripled, with 20% + yields and with income of $120,000 pa.
    Hard to find anything that could come close to cash flow in Australia and now that the Au$ is 75, makes it even more attractive.

    MTR:)
     
    MTR, 7th Jul, 2015
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  12. Beelzebub

    Beelzebub Well-Known Member

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    Had a mortgage with a kid; had a decent job which I hated. Took a huge risk by quitting my job to go back to uni and do a DipEd. Had enough cash to last me a year if I didn't get a job first thing the next year I was stuffed.

    Pulled it off though.
     
    Beelzebub, 7th Jul, 2015
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  13. 380

    380 Well-Known Member

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    for me it was accidentally getting in to property development!
     
    380, 7th Jul, 2015
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  14. Beelzebub

    Beelzebub Well-Known Member

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    At some point I would like to do the same
     
    Beelzebub, 7th Jul, 2015
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  15. OC1

    OC1 Well-Known Member

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    Went to Perth once.....nearly died.
     
    OC1, 7th Jul, 2015
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  16. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Beautiful! :D
     
    Jess Peletier, 7th Jul, 2015
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  17. MTR

    MTR Well-Known Member

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    Thanks Jess
     
    MTR, 7th Jul, 2015
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  18. geoffw

    geoffw Moderator Staff Member

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    My biggest risk was marrying somebody from another country, somebody I had fallen desperately in love with but who I really didn't know too well, as it turned out. We are still happily married 27 years later.

    Earlier this year I went to Medellin in Colombia for three months to work as an intern, to get back into IT, the career I once really enjoyed before businesses happened. The experience was superb, and I got a job in IT four days after returning home.
     
    geoffw, 8th Jul, 2015
    #18
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  19. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    leaving PAYG with decentish Golden hand cuffs

    Few things and bumps along the way.

    Worked out ok, as most things do

    ta
    rolf
     
    Rolf Latham, 8th Jul, 2015
    #19
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  20. Biz

    Biz Well-Known Member

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    Thats amazing @MTR . I remember reading about the usa opportunities on SS back then, I was considering buying a couple but didn't have the b**** to follow through. Fantastic effort! And even more so because you bought 8 rather than being timid and just buying 1 or 2. Well done!
     
    Biz, 8th Jul, 2015
    #20
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