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My mums latest advice.....

Discussion in 'Investor Psychology' started by Gockie, 21st Jun, 2015.

  1. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    "Now is the time to sell and lock in any capital gain in any Sydney property. There are lots of new units and housing expansion going on, allowed by local council and state government, all aimed to make Sydney price more affordable within two years."

    Aii yah....

    I'm pretty sure my mum had something to do with encouraging my sister to sell their Castle Hill Townhouse. They sold for $770k. A year later, properties in the complex were selling for $880k and $980k and theirs was better than the other two...

    Mum, I'll sell when I'm good and ready, thanks.
     
    teg499 and Coota9 like this.
  2. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Sadly, more parental words of wisdom...

    "Now have peaked, price will hold steady for a while then drop until builders go broke and stop building anymore."

    "What goes up must come down
    "

    Look, Western Sydney has gone crazy, I won't disagree on that. But I hold properties in areas and communities in high demand...
     
    eng likes this.
  3. Biz

    Biz Well-Known Member

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    I actually agree with your mum...

    Im a long term buy and hold type of guy though.
     
  4. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    Why do you still listen to her advice if you don't care for it that much?
    No matter what you think about your mum's advice, IMO you should keep these things to yourself, a mother's love shows no boundaries and I am sure she is giving you this advice as a way to try and help you. If you think her advice is irrelevant, perhaps just dismiss it.

    Also, most people on this forum would agree Sydney is nearing a top, so selling at this point might not be the worst advice if one is considering a sale or reducing debt.

    I guess I just find it sad you putting down your mother for her words to you. We get it, she might not be an investing genius, but I don't think this is deserved.
    Just my opinion is all.
     
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  5. jaybean

    jaybean Well-Known Member

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    You better hope she isn't right. A million dollar loss couldn't be anywhere near as devastating than a decade of incessant nagging about how she was right and you were wrong. You might as well sell down and move to a different country. It would be like 10 back to back GFC's.
     
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  6. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    Not necessarily incorrect.
     
  7. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    It's only advice, you don't have to act on it.
    But you know, one of these days her advice will be right...
     
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  8. The Falcon

    The Falcon Well-Known Member

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    Geez poor old Mum is copping a pasting!
     
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  9. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I know, I defriended her on my Facebook for all the negativity she showed on anything to do with investing, just so I wouldn't get it on there, yet she can still post this stuff via messenger....

    I keep the investing quiet on Facebook anyway but she would still write all these attacking comments on me. PUBLICALLY where everybody could see :(
     
  10. Biz

    Biz Well-Known Member

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    I was going to register the name Gockies_mum and give you a public spanking but i want to be more mature here than I was on ss.
     
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  11. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Haha.

    Problem with selling is the CGT.... I know that I could bring forward the interest repayments or stop working so I have less taxes to pay..... Not really the plan for now though!
     
  12. D.T.

    D.T. Adelaide Property Manager Business Member

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    Even a stopped clock is correct twice a day
     
  13. Random Username

    Random Username Well-Known Member

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    I wish I still had a mum.
     
  14. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    :( Sorry to hear that. :(
    Yes, I shouldn't complain.....
     
  15. Nemo

    Nemo Well-Known Member

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    Me too.

    She obviously cares about you a lot Gockie. One day you will miss that.
     
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  16. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    Sounds like you should cut her out of your life?....

    I think I'm done commenting on this thread, it makes me upset.

    Love your folks people.
     
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  17. WattleIdo

    WattleIdo renovating Premium Member

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    You got a lot of feedback on the last thread you posted about your Mum's advice and it seems to me you didn't take it in it at all. Maybe you need to spend some time reading back over what people have said. No wonder you feel annoyed by posters who don't read feedback. You do the same thing - it's your blind spot.
    Good fences make good neighbours. Listen to her, think about what she says and then make your own decisions based on your own goals.
     
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  18. Lenny

    Lenny Well-Known Member

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    "What goes up must come down"...

    That's probably the most negative comment I've heard in regards to property.

    My thoughts at this stage are to never sell anything unless it's not performing. Selling seems expensive.
     
  19. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I am lucky to have supportive parents.

    They know what I'm up to and have never had a bad word to say–they trust that I am comfortable in my decisions.

    Have you attempted a direct discussion with your Mum and explained her negative attitude is not having a positive impact on you and that you are comfortable with all the possible outcomes of your situation? Directness has worked well for me in life..usually.
     
  20. sanj

    sanj Well-Known Member

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    Poor mum copping it atm.

    Fwiw I think her advice is pretty good, selling out at what must be near the top isn't a bad thing imo