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Ever gone against one of the core tenets of investing - don't fall in love with the property?

Discussion in 'General Property Chat' started by jaybean, 29th Feb, 2016.

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  1. jaybean

    jaybean Well-Known Member

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    Every been head over heels over one and been unable to make rational decisions about it? I seem to go nuts over everything I buy, which is probably wrong:(

    I mean the numbers still stacked up. It's not like they were bad purchases but I just loved them too much. They are all exceptional buys but I've also grown very fond of them too.
     
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  2. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    My properties have a face only a mother could love
     
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  3. WattleIdo

    WattleIdo renovating Premium Member

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    Same - but I end up loving them anyway. I want them to succeed.
     
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  4. teg499

    teg499 Well-Known Member

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    I'm with you Jaybean! I fell in love with all the properties I have ever bought. Reno'd them and made them shine even brighter. Property for me is not just about the numbers. The property had got to "grab me" for me to be interested. Probably not the most scientific method but It's worked out well for me.
     
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  5. jpcashflow

    jpcashflow Well-Known Member Business Member

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    I agree property is not about the number and you must have some sort of emotion attached to the place but overall it business. I spend my energy, time and money improving the home my wife and I live in :)
     
  6. Azazel

    Azazel Well-Known Member

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    I guess it's important that it's good enough to warrant the attention.
    But you need to make rational decisions before acquiring them.
    Not a second thought for the deals I've walked away from ;)
     
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  7. Omnidragon

    Omnidragon Well-Known Member

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    I love them if they make money and will sell them for the right price.

    Do I love a stock that's doubled? Sure. But if I Knew it would crash 30% I'd sell it
     
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  8. Bran

    Bran Well-Known Member

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    Yes. Often. As I tend to buy in the OO market, there has to be something to love so that the next sucker pays too much for it.
     
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  9. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Ever gone against one of the core tenets of investing - don't fall in love with the property?

    Honestly no.

    I only ever fall in love with the deal.
     
  10. EN710

    EN710 Well-Known Member

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    I'm not sure.

    Currently I have 2 properties I want to angry-choke the hell out of them. o_O
     
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  11. Northy85

    Northy85 Well-Known Member

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    haha yep I have one like that
     
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  12. Leo2413

    Leo2413 Well-Known Member Premium Member

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  13. Tony3008

    Tony3008 Well-Known Member

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    I'll plead guilty to falling in love. I saw my Sebastopol (Ballarat) house over Christmas 2011 and waited impatiently for the agent to come back off holiday. He said that if I was willing to pay the asking he'd cancel the opens, and 48 hours later the deal was signed. No regrets even if there might have been better deals around - it's beautifully built with easy access to shops and PT. 13A Clarkson Street, SEBASTOPOL VIC 3356 - House For Sale - 2009409047 .
     
  14. Nemo30

    Nemo30 Well-Known Member

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    I have an attachment to my first property. I've actually bought and sold it a couple of times. My mum helped me buy it the first time. I later sold it and bought it again about 3 years later. I had just received a small inheritance from my mums estate... So technically she helped me buy it again.

    I don't count it in my ip's as I bought it with my son in mind.. I'd like to help him in the same way my mum helped me.
     
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