More Smashed Avocado - with a twist

This guy personifies the smarmy "get rich quick" style of investor (which can have high rewards, but also comes with massive risks as these sorts typically use all their equity to fund developments, and end up owing millions), but how many investors are really like this? It's as cringeworthy and unhelpful as the trash media's other favourite investor: the "I'm 18 years old and have 50 properties!" types... unfortunately it gives a lot of everyday, good investors a bad rap.

A lot of people spend years developing careful portfolios, with sensible risk structures, strategies for long-term growth, and a good understanding that markets both boom and bust, and that this needs to be met with planning and patience. A lot of people recognise investment is basically a full time job, requiring years of dedication and experience, through wins and setbacks alike.

Some of these flashy attention-seekers are keen to talk down to others, but have done little more than borrow a mountain of debt or toss all their chips into apartments, or they've blindly bought property after property with no strategy beyond capital growth. They'll be the ones at real risk of getting cleaned up in a downturn. But they're not representative of most people on this forum.

 

Personally I have much more respect for someone who has started from hard work and built up than the person that inherited their money or was born into $$$. There`s two sides to most stories.

“I spent every night on my hands and knees sanding back the floors, painting, renovating and working on the house. When we sold it, I used the small profits of $12,000 to purchase my next property and it all grew from there. The most important thing for me was just to get my foot in the door at the absolute base level, and work my way up from there.

“I sacrificed a huge amount through those years, working multiple jobs, seven days a week and I saved absolutely every penny that I could.”

So it wasn`t really a hand up, just an opportunity to work hard for suitable reward. In today`s terms it may equate to say $60K that would enable him to buy another property to improve. Not buy an established 2 story Mc mansion, but rather a modest outer suburb property to renovate & flip for profit.

I think it is the hard work ethic that is lacking in so many of the younger generation these days. Instead of being "on my hands and knees sanding back the floors, painting, renovating and working" they prefer sitting around cafes drinking lattes and eating avocados, while whinging on facebook about how hard done by they are!

 

I think this is the story with so many people i would say 80% of society in first world countries.

They were making money but didnt invest for their retirement.

The result is a very hard life in your last years.