Non Footy Chat Thread II

[hindy111]

Congratulations smartarse. You had money to invest during a period of massive inflation and low interest. What a genius you must be.

My real estate and crypto have also increased massively. Did I time the market right? f**k I'm smart. I only bought the house so f**kwit real estate agents couldn't stop me having pets. If I had kept my money in stocks it would've done just as well. But let's pretend we're smart for having spare cash to invest. Look how smart we are Avenger. f**k all those deadshits who couldn't afford to buy assets, you f**king peasant.

I spend my money that I have spare on myself and fixing my house. Do you want to see my shed upgrade? I will show you once finished. I feel like atleast if I spend my spare money on this stuff I can see it amd get joy from it.

 

[Avenger]

I spend my money that I have spare on myself and fixing my house. Do you want to see my shed upgrade? I will show you once finished. I feel like atleast if I spend my spare money on this stuff I can see it amd get joy from it.

Real estate rules

 

[hindy111]

Real estate rules

What I learnt with real estate is not to buy in areas where they can just plonk more houses. You want areas where it is limited.

My Dad made 2 x smart choices in real estate. A block on the water down sth coast. He paid 11k for it in 1980. And 45k for 5 acres in Western Sydney. And now it is getting a train station.
In comparison he was saying a block in Penrith was about 30k at the same time.

 

[Avenger]

What I learnt with real estate is not to buy in areas where they can just plonk more houses. You want areas where it is limited.

My Dad made 2 x smart choices in real estate. A block on the water down sth coast. He paid 11k for it in 1980. And 45k for 5 acres in Western Sydney. And now it is getting a train station.
In comparison he was saying a block in Penrith was about 30k at the same time.

I love hearing stories like that. There is always plenty of luck involved but also a fair amount of courage.

I particularly liked the day when @Poupou Escobar turned his back on being conservative, grew some balls and bought some dogecoin. What I especially like is I would have come across his mind when he opened that account and pressed enter. That’s very satisfying.

He will always be my Roberto Rodriguez.

 

[Gary Gutful]

I thought you told us to buy a Shiba Inu? Now I’ve just got a surly looking dog that keeps shitting on my carpet and no f**ken money FFS!

 

[strider]

I thought you told us to buy a Shiba Inu? Now I’ve just got a surly looking dog that keeps shitting on my carpet and no f**ken money FFS!

Im just glad you didnt buy 1 million of them like avenger suggested

 

[Avenger]

Im just glad you didnt buy 1 million of them like avenger suggested

Well I now have 110m. If it gets to $1 I’m buying hindy111’s dads farm.

 

[hindy111]

I had to listen to a mate talk about finding the right colour kettle for almost 45mins. I'm not sure if the cheese has fallen off the cracker.

 

[Poupou Escobar]

@Poupou Escobar

Did you buy Shiba when I told you? It’s just hit it’s all time high. You listened about doge now listen again or just say thank you.

I didn't listen about Doge, I bought it because I thought it would be funny.

 

[Poupou Escobar]

I actually didn’t have the money you dribbler. I borrowed. I’ve just got larger balls than you. And what’s wrong with peasants? My grandfather was a peasant.

#pissant

I borrowed money for the shares I eventually sold to buy my house.

 

[hindy111]

I borrowed money for the shares I eventually sold to buy my house.

You are a genius.

 

[Avenger]

I borrowed money for the shares I eventually sold to buy my house.

Did you try and lie about the CGT?

 

[Avenger]

I didn't listen about Doge, I bought it because I thought it would be funny.

Your realise there is also funcoin?

 

[Poupou Escobar]

You are a genius.

Yes I am. Now that we have both political parties committed to borrowing massive amounts of cash from future generations to prop up today's asset prices, it's a no brainer to borrow as much as you can to buy anything that is for sale. It's a shame that democratic society is full of such greedy, irresponsible merkins with no sense of social responsibility, and I wish I'd realised earlier. I could've made as much as Avenger.

 

[Poupou Escobar]

Your realise there is also funcoin?

I've already got a shitcoin. Why do I need more? To diversify my shitcoin exposure? It's money I never need to see again. I will pull it out if it becomes life changing, otherwise it's just a number on the internet. Every dollar I spend on that is a dollar less I can spend on my kids.

 

[Poupou Escobar]

Did you try and lie about the CGT?

No I paid a massive tax bill. Actually I made an interest free payment arrangement with the ATO that is still ongoing. Better than paying LMI though.

 

[Avenger]

I've already got a shitcoin. Why do I need more? To diversify my shitcoin exposure? It's money I never need to see again. I will pull it out if it becomes life changing, otherwise it's just a number on the internet. Every dollar I spend on that is a dollar less I can spend on my kids.

I understand. I hate telling my kids that I spent their Nutella money.

 

[hindy111]

Yes I am. Now that we have both political parties committed to borrowing massive amounts of cash from future generations to prop up today's asset prices, it's a no brainer to borrow as much as you can to buy anything that is for sale. It's a shame that democratic society is full of such greedy, irresponsible merkins with no sense of social responsibility, and I wish I'd realised earlier. I could've made as much as Avenger.

My dad is not the brightest man. He just got lucky in where he purchased his two properties. In 1980 who wanted to go down the sth coast. And who wanted 5 acres 5 mins from Penrith.
I think I also was lucky buying when the coronavirus just took off in 2020 and people predicted houses to drop 30% including banks. Nobody was buying and I got about 100-150k off what this place would of went for 2mths prior. I don't have big balls. I was just sick of looking and figured if does drop another 10- 20% having already dropped 10% I will just hold it long term.
But nothing collapsed. They just flattened untill then end of the year. And then boom. Its gone up 30%. Being skilled in buildings I am fixing it all up. Confident if sold that I would add another 10-20% to that. That is the only calculated risk I took. Knowing I could renovate myself on a relatively low budget and add lots of value. The rest was just timing.

It was 9mths of looking every weekend. Going to Auctions and wasting money on all the checks just to miss out. I feel sorry for first time home buyers who have just saved enough to get a deposit to purchase only to see literally 200k added to the cost of a home in 6-12mths. It would be extremely depressing. It really f**ked up my mental health after about 5 or 6 mths of searching.

 

[strider]

My dad is not the brightest man. He just got lucky in where he purchased his two properties. In 1980 who wanted to go down the sth coast. And who wanted 5 acres 5 mins from Penrith.
I think I also was lucky buying when the coronavirus just took off in 2020 and people predicted houses to drop 30% including banks. Nobody was buying and I got about 100-150k off what this place would of went for 2mths prior. I don't have big balls. I was just sick of looking and figured if does drop another 10- 20% having already dropped 10% I will just hold it long term.
But nothing collapsed. They just flattened untill then end of the year. And then boom. Its gone up 30%. Being skilled in buildings I am fixing it all up. Confident if sold that I would add another 10-20% to that. That is the only calculated risk I took. Knowing I could renovate myself on a relatively low budget and add lots of value. The rest was just timing.

It was 9mths of looking every weekend. Going to Auctions and wasting money on all the checks just to miss out. I feel sorry for first time home buyers who have just saved enough to get a deposit to purchase only to see literally 200k added to the cost of a home in 6-12mths. It would be extremely depressing. It really f**ked up my mental health after about 5 or 6 mths of searching.

don't understimate papa hindy ... he had the foresight to buy property when no one was

I think alot of Mediterranean Descendants who were young/middle aged adults in the 70s and 80s had the foresight to buy property while the skips were spending all the dosh on holidays or just stashing it in the bank (mind you interest rates were huge in the 80s) .... from my experience they were doing it for their kids ... smart cookies

 

[Bandwagon]

Which makes me question (again) the benefits of crypto trading. If you are in a top tax bracket you're getting slugged 40-45%.

So a tip might be to put your bitcoin in a trust and distribute profits to your student children's names to take advantage of tax free thresholds.

YRMV

Children as a beneficiary of a discretionary trust get arse raped by the taxman.

They're taxed at the top marginal rate for unearned income bar about the first $400 which is tax free.