Now that I’ve got your attention, I just wanted to take this opportunity to thank the spruiker who gave me the kick between the teeth that I needed. (Before reading on please assume maximum sarcasm for words quoted in parenthesis). I try to see the positives in everything and this certainly helps supress the frustration every time I hear the next ‘free seminar’ or ‘tax depreciation benefits masterclass’ spewing from facebook ad’s and the like. More on the positives to come. I’ve been a member of the property industry since 2010 plus 3 years tertiary so I guess you could say I have a ‘sound’ knowledge of the market and property fundamentals. Two of the better years were spent as a research analyst until selling my soul and joining sales for a reasonably agreed price with the devil. He took advantage of my vulnerability living out of my car after ******* pennies up a wall on said brand new car and a casual surf holiday that lasted over a year. I was desperate, and now I’ve got a taste it’s hard to look back but that’s another story. My inability to manage money has always been my downfall and the complete and utter responsibility of my middle class parents. (I am a millennial, so it’s never our own responsibility). Until that faithful day I crossed paths with the almighty bible. (Rich dad poor dad). Really it should be Kiyosaki I’m thanking but it appears he’s sold his soul recently too. The second I put the book down I was signing up to every seminar known to man for the “free knowledge and education”. How empowered I felt taking the first steps to actively pursuing (until previously) a pipe dream called financial freedom. And down the rabbit hole I went. Given I was already over $100k IN the hole with no savings I thought what’s the worse that can happen right? Of course no one would touch me with a ten foot pole until one bloke out of the ‘kindness of his heart’ felt I had something special and that he would help put us on the right track. By now of course my partner was on board who was pretty much in the same dire position I was. For a year we knuckled down sold the cars, consolidated the loans into interest free credit cards and before we knew it we had a deposit for a ‘deal of the century’ dual living house and land package in regional Queensland. Wait what? I couldn’t believe my ears. After doing some VERY BASIC research i.e looking on REA to find the average selling days was 365 things ‘probably’ weren’t adding up. I started doing some more VERY BASIC research again before finding the property couch podcast. Well, safe to say I felt like an absolute clown about to bet my entire financial future on an ‘advisor’ being paid likely in excess of $40,000 in commission. As if I wasn’t already insulted as a fellow sales consultant. His soul was obviously worth a 'bit' more to the devil. Since then I’ve listened to over 1000hrs of property investment podcasts, read countless books and now stumbled across this absolute gem we call PC. It’s amazing how you can spend your entire career in an industry and still know jack **** about it until someone challenges an idea. I may as well be speaking in tongues to most of my colleagues when mentioning the basic economic principles of supply and demand. Who would have thought ‘tax deprecation’ sounded sexier? Every time I come across these advertisements now I think anyone willing to hand over their money without doing even the most BASIC research and seeing red flags really has nothing to complain about. Nothing in life is free and at the risk of ending on a disgustingly cheesy line, before acquiring cash, properties or assets the most valuable asset of all is your own knowledge. So here’s to PC and the SS legacy. What a time to be alive with this much information at your fingertips. Jeez I’m excited about the future and looking forward to hearing everyone’s stories as well as sharing my own. Yours truly, Underprivileged and overly sarcastic millennial.
Well done and welcome. On the plus side you got rid of some bad debt and knuckled down and saved, so that there was an awesome achievement on reversing the evils of an instant gratification life and moving to a delayed gratification lifestyle. I'm so glad to read to the end and find you didn't buy that spruiker's wet dream and came out of it more jaded but at least financially intact. There are plenty of members here with property in Gladstone and the like unable to sell etc PS come along to the next Perth catchup where slagging spruikers is free but you'll have to buy a meal or drink
I call it a 'Publicly Perceived Perception' where they repeat the same jargon so people believe it's true and end up like sheep followers heading for slaughter grounds. "Live and learn" I say, we all make financial mistakes but when we don't learn from them is the biggest problem. Sounds like you're still young and have plenty of time to recover.
Hanging out for the next catch up after missing the last by a few days! After reading your thread on the Highgate development has completely changed my mind about this fake dream I had of being a developer. I AM NOT READY. I'll re-asses in 10 years.
It's not all bad. I just choose to push the envelope in areas that are very resistant to change. There are plenty of easier ways to do it but you have plenty of time - I'm an old fart
Thanks for the life story to date @propertylad! You are on the path to move forward now... glad you posted. You have a talent for writing too btw
