The road to riches

[AppleXY]

I think you can open an account. I saw in the Investor by Financial Review that a Yr10 kid was in the Share Market Race or something.

[costargh]

Yeh but apparently because I am under 18 I have to fill some forms out and the shares will be paid for out of my account but will be owned by my parents or something... but once I turn 18 (in about 10 months) they will become mine.

[paully08]

There was this dude from my school a few years back (didnt know him) but he said to our Economics teacher; "I'm going to be a millionaire by the time I'm 25" ... Now, he's about 23 and he has 4 investment properties. It seems like thats the way to go when it comes to making money!

[costargh]

3. Your tenant is unreasonably annoying and asks for 100 different repairs to the house which you are bound by your contract to fulfill.

well on that one, you've got no one else to blame but yourself. you sign a contract, you are bound by it. don't like it, then don't sign it in the first place.


OMG whoops i clicked modify instead of quote ...sorry LOL

[AppleXY]

Also the area is vital when you choose investment properties. If speculating, the land may appreciate extremely slowly purely due to scarity and the building may dramatically depreciate. Therefore, it's vital to exactly the right land with scenic views, schools & shops nearby and others which will safeguard your capital against losses and earn a decent profit (on rent and sale)

[costargh]

LOL OMG WHO MODIFIED MY POST!!! LOL SO SAD THAT TOOK A WHILE TO TYPE UP =(

Its not the point that you signed the contract, I am saying, if you get a tenant for example who knows from the outset that the house they are renting is going to be demolished within the next year it would be reasonable to ask for repairs on anything that is needed, but not on 100 insignificant and non-essential repairs.

And I am just trying to make the point that property isnt necessarily 'the way to make money'

[costargh]

Also the area is vital when you choose investment properties. If speculating, the land may appreciate extremely slowly purely due to scarity and the building may dramatically depreciate. Therefore, it's vital to exactly the right land with scenic views, schools & shops nearby and others which will safeguard your capital against losses and earn a decent profit (on rent and sale)

LOL applexy.
I would never have thought of your great little theory =P
You might revolutionise the property market with that mindset LOL im just messing with ya =P

[excal]

Yeh but apparently because I am under 18 I have to fill some forms out and the shares will be paid for out of my account but will be owned by my parents or something... but once I turn 18 (in about 10 months) they will become mine.

Basically, they'll be put into a trust under your name with your parents as trustees.

[Mystery]

Prav

I have to meet you in person someday, you seem to be in the minority of teens ahead of their time. I probably will end up hiring people like yourself to work with me =)

A 16 year old already knowing about the various markets  Nice!

[AppleXY]

16.... more like 17 :p

[RD]

Time to invest my life savings after VCE!

[Mystery]

ooh nice, same age as me - I guess I'm a year ahead haha! time to kickass in the real world  :knuppel2:

[sheepz]

i would prefer to invest in property but i hardly have any money lol >.<

[AppleXY]

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[brendan]

http://www.nytimes.com/2007/12/28/business/28vc.html?ref=business