Version: V 2025.2a Article 5

This is the story about Joey Gnomey. In the last article, Joey negotiated a fair price for a small sugar cane farm. Next step : get a bank loan. Joey had never borrowed money in his life and the experience was an eye opener to say the least. Even the interview with the bank manager was an over awing experience where the manager demanded all sorts of guarantees and indemnities – even a lien on the crops! Joey was recounting the experience to one of his new found Gnomozzia mates , Bazza Gnomeonston. Bazza let Joey know the bank’s lending requirements were quite stringent and this is commonly known as “ the banks making you jump through hoops to get a loan” . On the basis of a reputation for a strong work ethic and proof to the bank manager that he could not only make good money but also save it by living frugally, the bank advanced Joey the loan on the condition that it had to be repaid within 5 years. It was a tough deal , nonetheless , it was Joey’s foot into the door of the Property Market – beggars cant be choosers as they say. Joey just had to work harder to make it work! True to his frugality, Joey quietly celebrated his first ever property acquisition by having a drink of water from the tap and saluting to the Lucky Country of Gnomozzia. Yes, hard work does bring rewards in more ways than one. Until my next article, Donald Dunn-Moven Property Analyst Pursue your dreams and you will get there.