22-07-2012, 11:29 AM
Interesting phenomenon - buying/selling property like this. It simply means you will be forever in debt as you keep "upgrading". The article mentions that he plans to upgrade one more time (presumably to a condo?).
Observe what he says about his gold bullion trading - he uses his commissions to buy more? That would mean he averaged all the way up and is pretty heavy (mind the pun) in gold right now. I would assume a large part of his wealth is now in this gold, which depends a lot on the price and does not yield any cash-flow. Sounds rather risky to me.
Observe what he says about his gold bullion trading - he uses his commissions to buy more? That would mean he averaged all the way up and is pretty heavy (mind the pun) in gold right now. I would assume a large part of his wealth is now in this gold, which depends a lot on the price and does not yield any cash-flow. Sounds rather risky to me.
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