Cyprus-Forum.com

[miltiades]

You are too stupid.
Refrain from further moronic comments.
Just concentrate on your debts and your multi million ....empire!!
What a PLONKER!

[Paphitis]

You are too stupid.
Refrain from further moronic comments.
Just concentrate on your debts and your multi million ....empire!!
What a PLONKER!

I do t have a debt right now. Just a couple of lines of credit ready for my next projects. Also not to my name.

And that is if I go ahead with my plans. Without credit, I wouldn’t have finished most of my projects although I have completed some with own cash depending on what I have liquidated at the time.

I just had 2 contractors with the flu and these businesses are shutting down.

For an accountant, you don’t seem to be too sharp. My accountant is encouraging me to carry more debt.

[miltiades]

Im so so happy not to have ANY debts. All my assets cash etc are all mine.
Your accountant is giving you bad advice. People borrow money because they dont have it !!; if you have cash there is no need to borrow

[Paphitis]

Im so so happy not to have ANY debts. All my assets cash etc are all mine.
Your accountant is giving you bad advice. People borrow money because they dont have it !!; if you have cash there is no need to borrow

I never would have made half the money I made without some financing.

My accountant isn’t wrong at all, as I belong in the highest tax bracket and pay a lot of tax.

My partner and Koumbaro, who is much wealthier than I also does the same thing and he drives a friggin Ferrari.

And we both use the same accountant who is also a friend of ours.

[B25]

Im so so happy not to have ANY debts. All my assets cash etc are all mine.
Your accountant is giving you bad advice. People borrow money because they dont have it !!; if you have cash there is no need to borrow

With respect Milti, but this is the biggest load of crap I ever heard. Have you not heard of capital structures where your debt - equity amounts are split to maximise your returns??

As an accountant you claim you are, you need to give back that diploma.

People borrow money so that their own money can go further.

[miltiades]

Im so so happy not to have ANY debts. All my assets cash etc are all mine.
Your accountant is giving you bad advice. People borrow money because they dont have it !!; if you have cash there is no need to borrow

With respect Milti, but this is the biggest load of crap I ever heard. Have you not heard of capital structures where your debt - equity amounts are split to maximise your returns??

As an accountant you claim you are, you need to give back that diploma.

People borrow money so that their own money can go further.

Strange that. Most millionaires past and present had no debts. Onasis comes to mind as well as Bill Gates. You pay far more interest on a debt that interest received on your bank balance. I believe that the fundamentals of accountancy haven't changed since my days as an accountant. The richest people in the world do not borrow money. Different for expanding businesses.

[CrookedRiverGuy]

People borrow money so that their own money can go further.

That is right and basically how any LTD is based.

The problem occurs when macro-events dries up everything and you are not able to fulfill your obligations (paying back whoever you own money).
Milti is only claiming that ''Cash is king' - and this is quite true when the financial markets are about to go belly-up.

[Londonrake]

People borrow money so that their own money can go further.

That is right and basically how any LTD is based.

The problem occurs when macro-events dries up everything and you are not able to fulfill your obligations (paying back whoever you own money).
Milti is only claiming that ''Cash is king' - and this is quite true when the financial markets are about to go belly-up.

I think you’re a bit behind the curve with “about to go belly up”.

[Paphitis]

Im so so happy not to have ANY debts. All my assets cash etc are all mine.
Your accountant is giving you bad advice. People borrow money because they dont have it !!; if you have cash there is no need to borrow

With respect Milti, but this is the biggest load of crap I ever heard. Have you not heard of capital structures where your debt - equity amounts are split to maximise your returns??

As an accountant you claim you are, you need to give back that diploma.

People borrow money so that their own money can go further.

Strange that. Most millionaires past and present had no debts. Onasis comes to mind as well as Bill Gates. You pay far more interest on a debt that interest received on your bank balance. I believe that the fundamentals of accountancy haven't changed since my days as an accountant. The richest people in the world do not borrow money. Different for expanding businesses.

That’s nonsense as well. Most rich and all billionaire have carried and continue to carry debt.

One famous American tycoon even wrote a book about it to self help small tuners like me and other entrepreneurs and explains in good detail the value of good debt in business.

[Paphitis]

Im so so happy not to have ANY debts. All my assets cash etc are all mine.
Your accountant is giving you bad advice. People borrow money because they dont have it !!; if you have cash there is no need to borrow

With respect Milti, but this is the biggest load of crap I ever heard. Have you not heard of capital structures where your debt - equity amounts are split to maximise your returns??

As an accountant you claim you are, you need to give back that diploma.

People borrow money so that their own money can go further.

I totally agree. He needs to hand back his diploma and computer because he is clearly the stupid one.

I friggin don’t know a single greek or Cypriot family or cafe operator with 5 rental properties without carrying mortgages.

Mortgages created a great deal of wealth here in Australia. A lot of people ask why we do it but we ask them why they are not doing it. No free lunches and fortune always favours the brave.

No good owning your home and having no debt. You are twice better off if you own your home, borrow against it and buy another rental and you are three times better off if you have the stomach to borrow against your home and buy a third rental. You get your residual income and will make a capital gain on 3 properties and make tax claims as well.

Any accountant knows this.