Well, I did it again. Last year I went all in on a seaside property overlooking the sea and I've made quite an effort to make that happen. To tell you the truth I have even borrowed some money to make it happen. And just few days ago I signed a reservation on a property in the city center where I live. The hard part is that I don't have the money for it and the first installment counting for 50% from the sale price should be in about 4 months. So, how will I manage this? Well, I am betting on crypto to hit it big and for me to be able to grab some profits.
The crypto angle
It is like I am ALL IN on crypto to majorly outperform what we've seen so far. Will it happen? Hard to say but a first positive sign could be given by Trump, the proclaimed crypto president, to take the office on 20th of January 2025. If he delivers on his crypto promises we might be good for phase 2 of the bull run where also Altcoins will shine. Still, this will not cover all the costs so I still need to be creative.
The trade off
Doing some math on the property acquisition price and my current finances, made me start thinking that I need to sell my current flat in order to buy the new one. I even got some contacts with referenced real estate agents which could market it and get me some good price in the 4 months time window that I have. Few days ago I saw no other option than this one to make it happen. Lately I've thought if this is a good move to sell in a hurry, maybe even at a discounted price in order to make things happen. And I realized it doesn't make sense from investment point of view and that I should hold it and rent it. Thus my mind changed and my strategy needed to be adapted. But with what? Let's see...
The stocks angle
In the past year, besides investing in crypto, I diversified my investments also in stocks. And some of them like Rheinmetall or IBM really did good, thus my decision to grab some profits and cover partially the new property costs. RHM returns were over 100%, IBM got me 25% more, so that should help a bit. I have some other stocks that I might need to sell, but their returns don't motivate me much to do that right away. But the option is on the table if needed.
To conclude, I have switched from selling one property to get a newer one and rearranged that to have them both, one for renting purpose and another to live a good life. The costs I should cover from my consultancy income, crypto, stocks and some help from the family if really needed. So, the stars need to align for my plan to happen, but I am hopeful and confident with it. Sometimes you need to risk it to hit it big and that's what I'm doing. I've always agreed that you need to spend money to make money, so here we go, let's do it!
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If you want to make money from crypto market, sustenance is everywhere, whatever trading we are doing, without risk here, we will never get profit.