From the BareFoot Investor email:
that it's not good to be in too much debt. That makes a lot of sense to me,
because I have two properties and I've just had a baby and I am in a huge
amount of debt ... and ..."
And that was
all she could get out before she started sobbing uncontrollably.
she works as an analyst at a major financial institution, and earns around
$120,000 a year (i.e. she's not dumb, because dumb people generally don't earn
six figures.) Turns out
she went to one of those property-flogging seminars I'm always warning you
about - and ended up drawing the equity out of her home and buying a
two-bedroom apartment in the currently deodorised armpit of Brisbane, for
that, after she signed the contract and bought the joint, she discovered she
was pregnant. She wasn't in a committed relationship, but she'd made a
commitment to her unborn child. She recognised that the financial stress was a
danger to her pregnancy, so she decided to sell the property.
what her half-a-million-buck apartment got passed in for at auction earlier
this year? $250,000.
woman is all alone. She has a two-month-old baby. She's scared about their
future. And there's no fairytale ending coming her way. Despite improving
property conditions, she's been stitched up good and proper.