Hello Bargainers,
After reading the depressing episode of "What Is The Largest Amount You Have Lost Trying to Make More Money?", I was wondering, what are your biggest investment wins. If you won a lottery, or got lucky, more power to you; but I prefer to learn from the buffets in the making, between us regular folks and want to know their stories.
Thanks Peeps!
That was a great purchase, well done! Do you think your negotiation skills are great, or it was more of a 'early bird gets the worm' scenario. If its the former, could you please share some tips on how to negotiate effectively, I recently bought a property advertised for 209K for a price of 189K during the peak Covid-19 period (March 2020). I started at 185K and was feeling guilty, if I am one of the 'low ballers' that people loathe, and the real estate guy upped it to 189K.
Definitely not negotiating skills. I'm the kind that cringes at the thought of going into a store and asking for discount/pricematch. Although that's changing slowly after moving here…
I think it was more attention to detail through spending far too much time studying the market. Being able to identify a property that was already listed just below average price for the area yet still sat unsold for a long time. 2-3 months unsold is not normal for any decent London property as they usually get snapped up quick. Demand is unbelievable.
Upon setting appointment to view the property, agent advised that they were desperate to sell and didn't want buyers with mortgages dragging out the process. At the viewing, agent didn't bother to show up but owner was happy to take through and he explained their whole situation including being happy to sell cheap quickly rather than wait weeks for more. That way they could settle their divorce proceedings and he wanted to leave the country to start new life.
Following day, sent in a lowball offer, couple days later they asked for a bit more and after second viewing, both agreed.
There's plenty more bargains to be had if I had the capital. Especially fix'em'up and flip properties there. Really good money to be made.
I haven't dipped my toe in financial investments/stock/crypto etc yet. Would be interested to read other peoples anecdotal experiences.
Let's put that into perspective. 2012 was during the Euro Crisis - interest rates shot up so property prices would have been weak. The fact that the owners anchored their price to previous levels doesn't mean you got a great deal - that was the market price. In 2016 & 2017 and later, agents in many Aus capital cities found that sellers were listing their properties for $1m and selling for $1.1m, etc.
If you'd bought in many Aus capital cities in 2012 and sold in 2019 you could have easily doubled your money.
For real estate, taking 50% profits is not really worth it. Round trip transaction costs and CGT will eat up a lot of it.
Got born in australia
Not Looking at Flukes
Wasn't a flukes
Haha…..so you planned it yea ?
@curious101: still counts as planning if their parents planned it!
unless if it was an unplanned pregnancy…
True, but less so these days. Imagine trying to buy a house.
I said it only recently that I bought a house 6 months ago which is only 10 minutes out of a capital city and was under $300k. 2 bedrooms, a sizeable backyard and no work needed as it's reasonably modern. The reason being is that it's not some crazy expensive place like Melb or Sydney.
Made a bet on Brexit and then on Donald Trump and then on Scott Morrison.
I didn’t invest in bitcoin when it fell from $23,000ish down to $9,000ish. But I do know people who did and a few lost everything.
I got in at 11k and it's now over 16k so I'm pretty happy. If you're in for the long term and don't FOMO there's money to be made.
Learning.
Investing my my education has comfortably returned 10x what it cost (opportunity cost while studying and earning peanuts plus HECS). Zero regrets now when people ask me for career and financial advice to say "keep learning". People think the "continuous growth" mindset is corporate BS, but to be honest, it's going to be the difference between you and the other applicant getting the job you're applying for if you have any desire to keep progressing up, or remaining relevant in more skilled roles.
It doesn't matter if you're white collar or blue collar, the ability to stay across the best way of doing things is always an asset.
My other was buying an $80k car before taking my Financial Planner job…
I don't condemn learning but what has a 80k car ( maybe you got a great classic that appreciated ) got to do with great investments ?
It's a sound investment vehicle!
It's high yielding.
Sorry @popsiee, I forgot the /s. Welcome to ozbargain folklore.
If ever you see anyone referring to vehicles being good investments, this is where it comes from:
https://www.ozbargain.com.au/node/273269
unlisted commercial property closed funds ~12% return PA for 7 years :D
B Partners?
Centuria and cromwell
Won a PS1 when I was 13 after winning the fastest time on gran Turismo at a store opening.
This was a calculated win as most people were not using the fastest stock car available.
yeah, that counts, you out smarted others. Nice.
While playing share trader some time ago, doubled my money off a Dominoes pizza investment just before they tanked.
Two for one code?
🍕👍👍
Lucky move - or did you see it coming ?
Bought, sat, saw doubled, sold
This was when the pizza wars were getting hot
APT - knew what its usual price was so when it dropped I hopped in, am now up 300%
So you are the unicorn investor getting in on APT, while in the other forums everyone sold it. Nice work.
a few of the betting apps have let you bet on tie colours from scomo in press conferences and there was a while where could bet if dan andrews would be wearing a north face jacket or not in the vic pressers. made a few hundred dollars there, but they limited the max bets to $100 so very hard to make real bank.
Bit of gambling, I would say. Unless you knew before hand, what scomo or Dan were wearing on the day. inside trading eh 🤔
Watched Wesfarmers for a while, solid business trading around $40. Then GFC came along and prices tanked; I still considered it to be a solid business though and bought a tranche of shares at $15 roughly, then participated in the capital raising at $13+ per share. Now trading $47.61 as at COB Friday. Of course, it's not a profit until I actually sell them and realise the gain.
Nice calculated move on a company with strong fundamentals. Well done !
I was pleased with that one. Let's not talk about Retail Food Group, on the other hand….
Bought a house in West London for well under average market price as a couple were going through bad divorce and desperate to sell quickly to settle balances.
Sold it 150% purchase price 7 years later. Probably only investment ever made. If you monitor property market really well for a while, you get to notice patterns and understand when something's undervalued.
Proof: https://i.imgur.com/FLCrmf6.png - Note 2012 purchase price vs originally listed price.