Your biggest financial loss.

I do too... I just like to think of ways to solve a problem... I wouldn't pull a swifty but it's fun thinking of ways to do it.

 

Was heavily into shares before the GFC - but had been in long enough such that it was really giving back the profits. It did, however, prompt a move into property at a reasonably good time.

Finding it hard to shake the feeling that perhaps the same thing will happen with property and a lot of the gains will disappear before they are realised.

 

Nothing as horrible as other people
- Didn't use an offset account on our first PPoR, when we rented it out, lots of lost potential for interest deductions, since the loan was much smaller.Yet our new PPoR loan was much larger.
- Fixed at 5.99% for three years just before the rates started dropping.
- Bought about $6k worth of shares just before the GFC. lost most of it.

 

Just after turning 18 I invested in "The Integra Program" it was an investment program which for the small buy in price of around $7000 would provide a $50k pa return. I was so keen!!

The program told us which horses to "invest in" (not gamble on) on which races. Even had to sign a stat dec stating we wouldn't invest more than the agreed amount, because that would diminish the other Integra investors return.

I was living with Mum and Dad at that stage, and although it took pretty much everything I had it didn't take me long to build up some money again.

Valuable lesson I learned: If it looks too good to be true, it usually is.

Cheers,
Clint

 

Talk about lightning striking twice!

 

A promised 700% return. I can see why you were keen.

 

Was on a roll leading up to 2003 - subdividing - reno's - flipping ... had 11 ips and our ppor at the time ... decided to try a development. Borrowed the lot against the ppor.

Practically one month before the development was market ready the crash hit. Couldn't sell and followed the market down - still couldn't sell and the mortgage repayments (on around $730,000) was killing us - put tenants in to cover costs and wait for the market to sell - tenants trashed the place but got off at tribunal - finally sold for $520,000.

Had to sell most of the ip's in a depressed market to make up the shortfall.

By the time we figured in the interest repayments, that development cost us over $350,000.

 

My biggest lost was around $100K from stock market during GFC.
Then I started to invest in property and gained around 25 times of what I lost.

 

A mate of mine bought $1.25m (600k borrowed) into shares in 2008, only for the shares to crash. They are currently only worth 400k now. He is still hopeful that one day he will strike rich... Poor guy!

 

God Lizzie, sorry to hear that. life is just not fair sometimes - you've busted a gut and done everything right, and still cop a hiding, while other folks do bugger-all and still fall of their feet.

Chin up.

 

We're good now ... was over 10 years ago. Nothing like a bit of hard work, buying well and renovating to get us back in front ... still irks a little that we'd have no mortgage on our ppor if it wasn't for that development. Nearly went under and lost the lot ... but now net worth is around $2mil

 

Yes....nearly lost the lot around the same time, but for other reasons. All good now as well! It just goes to show how tough we are. Character building, my parents would call it! Life can be so much easier without the need for 'character building'.

 

Lost $10k in some random mining share, I had no idea what I was doing. I still have own those shares. Down $11k to $1k. I should just sell it huh...

 

Not me but an ex boss of mine. Purchased a restaurant in 2004 for $280k. Sold it last week for $1.