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YIP's 2012 Investors of the Year... In Debt for Millions!

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Bob Bobbleworth | 07 Dec 2015, 06:13 PM Agree 0
The winners moved to Moranbah and invested $8M in properties in Moranbah and Mackay.

They had achieved around $900K equity and were the success story of the year.

The median house price in Moranbah peaked in December 2012 at $740K and was $310K in Dec 2014 and
is around $216K.

Kate says "Sometimes things happen to us that weren't ever on our wish list. I totally get it. Investing in property was meant to set me up financially (for life), instead I ended up with a debt disaster, owing millions of dollars more on my properties than what they were worth (ouch!) I'm in my twenties and everyone says "well your young" but still. It intially knocked away all my self esteem and confidence (for a while)"

Be careful wheN reading articles such as these.. Very dangerous for the uninitiated ;)
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