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Anabel Croft Is Confused About Property!

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Have you learned any difficult lessons about money by mistake?

We bought a second property in 1988, a three-bedroom semi-detached house in Fareham, Hampshire, for £70,000. I spent weeks doing the place up, but we bought at the top of the market just before it crashed. Two years later, we managed to sell it roughly at the same price, but when you take into account the sale fees and the money we spent on improvements, we definitely lost.

Then ...

What is the secret of making money?

Doing something you really enjoy. But I think you also need a sense of curiosity. I don't turn many opportunities down.

Over the years we seem to have made more money from property then anything else. The advice I give young people is to really stretch your mortgage and borrow as much as you can afford to. If Mel and I had stayed put in our first flat in Wimbledon we might have paid the mortgage off and still be there today. As it happens we kept climbing the ladder.

:lol:

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If you read the Sunday Times and you read the back page of the Money supplement they interview each week different celebrities about the finances, it is very rare for any of them not to cite housing as their best investment. Interestingly very few cite shares.

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If you read the Sunday Times and you read the back page of the Money supplement they interview each week different celebrities about the finances, it is very rare for any of them not to cite housing as their best investment. Interestingly very few cite shares.

That's hardly odd when prices have just risen 200% or whatever it is in 5 years. Add in the fact that it's usually a leveraged investment - how could it not have been their best?

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Over the years we seem to have made more money from property then anything else. The advice I give young people is to really stretch your mortgage and borrow as much as you can afford to. If Mel and I had stayed put in our first flat in Wimbledon we might have paid the mortgage off and still be there today. As it happens we kept climbing the ladder.

:lol:

I've highlighted the conflicting part!

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Have you learned any difficult lessons about money by mistake?

We bought a second property in 1988, a three-bedroom semi-detached house in Fareham, Hampshire, for £70,000. I spent weeks doing the place up, but we bought at the top of the market just before it crashed. Two years later, we managed to sell it roughly at the same price, but when you take into account the sale fees and the money we spent on improvements, we definitely lost.

Then ...

What is the secret of making money?

Doing something you really enjoy. But I think you also need a sense of curiosity. I don't turn many opportunities down.

Over the years we seem to have made more money from property then anything else. The advice I give young people is to really stretch your mortgage and borrow as much as you can afford to. If Mel and I had stayed put in our first flat in Wimbledon we might have paid the mortgage off and still be there today. As it happens we kept climbing the ladder.

:lol:

Why would anyone take financial advice from a ex-tennis player in the first place?

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I've highlighted the conflicting part!

Hardly conflicting, they probably stretched themselves when they were younger and are now pretty well paid off on somewhere worth way more.

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Hardly conflicting, they probably stretched themselves when they were younger and are now pretty well paid off on somewhere worth way more.

Yes it is as it's not a description of their past but what people should do now, and as you know many people (even those buying first property) are in very different circumstances.

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Why would anyone take financial advice from a ex-tennis player in the first place?

Yes, quite right, I much prefer to get my advice from ex Big Brother contestants

:blink:

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Yes it is as it's not a description of their past but what people should do now, and as you know many people (even those buying first property) are in very different circumstances.

It's wrong, doesn't mean it's conflicting though.

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That's hardly odd when prices have just risen 200% or whatever it is in 5 years. Add in the fact that it's usually a leveraged investment - how could it not have been their best?

I know it is not odd at all, all I know is that it is not possible for everyone to make their fortune out of one investment stream!

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Why would anyone take financial advice from a ex-tennis player in the first place?

Only an Idiot™. Let alone a Tennis Player who lost her last professional match to a bag of sand from Bulgaria.

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Only an Idiot™. Let alone a Tennis Player who lost her last professional match to a bag of sand from Bulgaria.

Although (albeit misguided advice) it is probably worth more than all the advice you will get from bankers, politicians, Estate Agents and Lawyers.

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Here is the link

The conflicting advice is that she is telling us in one paragraph that she bought at the top of the last cycle then made a loss on selling two years later and further on tells us to borrow as much as possible to buy property. Unless of course she does not think that we are the top of the cycle again.

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Who cares? She was always gorgeous to me. I had a crush on her when a lad. Liked her so much, I was only a little put off when I heard her voice on Treasure Hunt. Wow!

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