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Badger

Escape The Rat Race

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I heard recently of a friend of my brothers who sold up and moved to Spain with 100k proceeds. Whilst unsuccessfully settling/looking for work over a period of 2-3 years, they spent the lot. They are now back here, with no money in a tiny minging rented flat. :o The moral being - the grass sure aint always greener, I just hope they didn't do too much of the 'up yours we're outta here' thing when they left the UK..

Edited by Badger

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theres a lot of it about.

a lot of these hpi heroes had no idea how they made that 100k. but they did.

and normal service soon resumes and they lose the lot in 3-4 years.

easy come - easy go.

unless hpi is 20% pa, then we can renew their mew wallets every year for them to spend spend spend.

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I heard recently of a friend of my brothers who sold up and moved to Spain with 100k proceeds. Whilst unsuccessfully settling/looking for work over a period of 2-3 years, they spent the lot. They are now back here, with no money in a tiny minging rented flat. :o The moral being - the grass sure aint always greener, I just hope they didn't do too much of the 'up yours we're outta here' thing when they left the UK..

The grass is never greener if you expect well paid work to land in your lap. The grass can be greener if you work hard to make it greener.

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The grass is never greener if you expect well paid work to land in your lap. The grass can be greener if you work hard to make it greener.

Even then it's not guaranteed, as they found out. O wise one.

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I heard recently of a friend of my brothers who sold up and moved to Spain with 100k proceeds. Whilst unsuccessfully settling/looking for work over a period of 2-3 years, they spent the lot. They are now back here, with no money in a tiny minging rented flat. :o The moral being - the grass sure aint always greener, I just hope they didn't do too much of the 'up yours we're outta here' thing when they left the UK..

Reminds me of a friend, a very successful and seemingly intelligent friend, who sold his much-envied quayside pad in 2001 for a fat profit and STR-ed. Got all the usual STR guff from him — how I was mad to stay put, impending crash, economic cycle, get out now, yadda yadda yadda.

Now, since he's blown the lot on rent, he's flat broke, and struggling to find anywhere to live — rented or mortgaged.

As this anecdote has little of the bearish quality about it, I await the grimly inevitable backlash.

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Reminds me of a friend, a very successful and seemingly intelligent friend, who sold his much-envied quayside pad in 2001 for a fat profit and STR-ed. Got all the usual STR guff from him — how I was mad to stay put, impending crash, economic cycle, get out now, yadda yadda yadda.

Now, since he's blown the lot on rent, he's flat broke, and struggling to find anywhere to live — rented or mortgaged.

As this anecdote has little of the bearish quality about it, I await the grimly inevitable backlash.

Certainly highlights the dangers of STR if you have no income. No job + wads in the bank = Pay your own rent out of your savings

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Taking a profit and squandering it is foolish however that profit was generated.

But people who take unearnt profits usually do seem to squander them, because they have no idea how they got that money in the first place. The money goes from people who have no idea how they made money to people who know how to consistently make money (e.g. by not squandering it).

People who had to work for their money know how much it's worth and don't waste it.

Got all the usual STR guff from him — how I was mad to stay put, impending crash, economic cycle, get out now, yadda yadda yadda.

And you know what? If bin Laden hadn't destroyed the World Trade Center, he'd have been right. That led the Fed to drop interest rates through the floor and create the credit bubble which pushed up house prices for many years longer than they would otherwise have.

But yeah, I'm sure you're super smart and not just 'lucky' thanks to a unique event which threw trillions of dollars of cheap credit into the market.

Edited by MarkG

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And you know what? If bin Laden hadn't destroyed the World Trade Center, he'd have been right.

LOL! Makes a change from all the zionist conspiracy theories, I suppose.

I'm sure you're super smart and not just 'lucky'...

No, I was lucky. I bought at the right time and sat tight. But, you know, you make your own luck in this life.

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LOL! Makes a change from all the zionist conspiracy theories, I suppose.

So you're claiming that the Fed would have dropped interest rates to 1% if bin Laden hadn't destroyed the WTC?

Or are you just making stupid comments for the sake of it?

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Reminds me of a friend, a very successful and seemingly intelligent friend, who sold his much-envied quayside pad in 2001 for a fat profit and STR-ed. Got all the usual STR guff from him — how I was mad to stay put, impending crash, economic cycle, get out now, yadda yadda yadda.

Now, since he's blown the lot on rent, he's flat broke, and struggling to find anywhere to live — rented or mortgaged.

As this anecdote has little of the bearish quality about it, I await the grimly inevitable backlash.

So he's 'blown the lot on rent' has he? Well, other spending patterns being equal, if he hadn't sold to rent he would have blown all the equity he had in the house anyway.

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I heard recently of a friend of my brothers who sold up and moved to Spain with 100k proceeds. Whilst unsuccessfully settling/looking for work over a period of 2-3 years, they spent the lot. They are now back here, with no money in a tiny minging rented flat. :o The moral being - the grass sure aint always greener, I just hope they didn't do too much of the 'up yours we're outta here' thing when they left the UK..

Can't resist adding a reply, seeing as this could be us - but it isn't. We STR'd in 2004, still have all the money from the sale, living and working in Spain and I can understand how easy it would be to blow the lot because wages are appalling here. And as an expat job security doesn't exist until you've networked your way into the community you're living in. And if you stick to the expat community, you soon find that your wonderful compatriots are looking for ways to rip you off in ways the locals wouldn't dream of.

On a separate note, I have to disagree with the idea that money you haven't 'worked' for slips through your hands more easily - you could definitely say we didn't earn the money we've got from our sale but we're hanging on to it for dear life!

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True nothing is ever guarenteed. Did the chap not organise sustainable employment prior to moving to Spain?

You wiser.

I don't know any more details unfortunately. I did a similar thing in 2001 - except I haven't spent the money. I lost out on HPI since then however, though I bought in 1994 & quadrupled what I bought for. Once the depression passed, I counted myself amongst the more lucky ones.

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“So you're claiming that the Fed would have dropped interest rates to 1% if bin Laden hadn't destroyed the WTC?”

You mean that guy that game from Saudi Arabia where his family and the Saudi royals are well connected and his dads building firm get to rebuild after the war, the same family that has very strong connections with the Bush’s, the same country where apparently most of the 9-11 attackers came from.

Yes Bin-Laden may had lent a hand as in good cop bad cop but it was GW-Bush who ordered the attack and planted demolition charges in the towers.

Are you all enjoying the conspiracy theory where fuel keeps going up and your freedoms are being taken away, wake up to the new world order my friends.

Edited by Justice

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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