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Author Topic: Prose from a Poshboy  (Read 2544342 times)
cambridgealex
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« Reply #19335 on: September 16, 2017, 10:03:52 AM »

Would you think owning a house makes playing poker for a living more or less stressful?

Not that I own it just yet, but I'm basically counting that money as gone. So now my bankroll is massively reduced. Now I'm feeling a bit more pressure. The cushion is gone. A bad downswing would mean I have to drop down stakes, which would mean the house purchase was a bad error, in financial terms.

On the other hand, it's gotta feel nice to have far fewer outgoings...
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pleno1
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« Reply #19336 on: September 16, 2017, 03:41:49 PM »

Would you think owning a house makes playing poker for a living more or less stressful?

Not that I own it just yet, but I'm basically counting that money as gone. So now my bankroll is massively reduced. Now I'm feeling a bit more pressure. The cushion is gone. A bad downswing would mean I have to drop down stakes, which would mean the house purchase was a bad error, in financial terms.

On the other hand, it's gotta feel nice to have far fewer outgoings...

Always been very against buying property for this exact reason. I love playing with no stress, no doubts, no fear etc, I think big edge you/I have is just playing completely stress free and makes playing a lot happier too. I think outgoings relatively usually aren't that big for poker players or if you're having a downswing you can just live that little less extravagantly. People have always stressed the important of buying property to me, friends, family etc but none of them really understand poker, poker bankroll and the mental toughness of the game.

I would strongly recommend to any poker player who isn't staked to never invest a huge part of their bankroll in anything as long as they want to play a lot of poker.

Fedor actually talks a little about it in his recent vlog, money management etc, but his "primed' mindset and the fact he plays so little compared to us and doesn't necessarily need to "make money" is different situation.
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SuuPRlim
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« Reply #19337 on: September 16, 2017, 05:33:42 PM »

Just don't lose Tongue

People say this you must buy a house asap from poker advice more as a personal piece of advice (espcially from people outside of gambling) because if you have £500,000 BR and put £250k in  house then you can't lose it and therefore even if you lose the other £250k you'll still be +250k from being a poker pro.

Obviously, thats not fiscally sound advice, but you can understand why people think this/say this innit.

I'm sure Alex you will be fine, taking a big chunk of your liquidity out of the BR is obviously not ideal but you're a smart guy and I'm sure despite having a depleted liquid roll you'll still be rolled comfortabley for your games, if you start of post-house purchase in a DS then maybe sell some action for a month and try protect the smaller liquid cushion you have left. LMK r.e action ofc Cheesy

You'll probably win some tournament, knowing know Wink
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cambridgealex
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« Reply #19338 on: September 16, 2017, 05:40:35 PM »

Just don't lose Tongue

People say this you must buy a house asap from poker advice more as a personal piece of advice (espcially from people outside of gambling) because if you have £500,000 BR and put £250k in  house then you can't lose it and therefore even if you lose the other £250k you'll still be +250k from being a poker pro.

Obviously, thats not fiscally sound advice, but you can understand why people think this/say this innit.

I'm sure Alex you will be fine, taking a big chunk of your liquidity out of the BR is obviously not ideal but you're a smart guy and I'm sure despite having a depleted liquid roll you'll still be rolled comfortabley for your games, if you start of post-house purchase in a DS then maybe sell some action for a month and try protect the smaller liquid cushion you have left. LMK r.e action ofc Cheesy

You'll probably win some tournament, knowing know Wink

Yeh this is all a pre-moan, usually quite effective. Don't think I'm playing another tournament this year but cash game heater would be nice!

There's obviously way more non-financial reasons why we chose to buy.

It's just when bitcoin hit $3000 and I had a terrible few days on cash I was slightly sweating thinking oh god what have I done here Tongue
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SuuPRlim
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« Reply #19339 on: September 17, 2017, 08:17:40 AM »

DW you got apprentice betting coming soon, should be good for cash flow.

I'll make another appearance at the PB one night too if that helps Tongue
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tikay
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« Reply #19340 on: September 17, 2017, 10:43:17 AM »

Just don't lose Tongue

People say this you must buy a house asap from poker advice more as a personal piece of advice (espcially from people outside of gambling) because if you have £500,000 BR and put £250k in  house then you can't lose it and therefore even if you lose the other £250k you'll still be +250k from being a poker pro.

Obviously, thats not fiscally sound advice, but you can understand why people think this/say this innit.

I'm sure Alex you will be fine, taking a big chunk of your liquidity out of the BR is obviously not ideal but you're a smart guy and I'm sure despite having a depleted liquid roll you'll still be rolled comfortabley for your games, if you start of post-house purchase in a DS then maybe sell some action for a month and try protect the smaller liquid cushion you have left. LMK r.e action ofc Cheesy

You'll probably win some tournament, knowing know Wink

Yeh this is all a pre-moan, usually quite effective. Don't think I'm playing another tournament this year but cash game heater would be nice!

There's obviously way more non-financial reasons why we chose to buy.

It's just when bitcoin hit $3000 and I had a terrible few days on cash I was slightly sweating thinking oh god what have I done here Tongue

Exactly that, & not even close. Good decision, Alex. And Victoria, obv.



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shipitgood
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« Reply #19341 on: September 17, 2017, 03:49:36 PM »

Great decision buying a house. Exciting times.

Even if you had to move down in stakes for a short period of time you will soon replenish the bankroll.


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SuuPRlim
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« Reply #19342 on: September 17, 2017, 04:56:51 PM »

AND - you might not even go on a downswing, and you'll have you're own house and smashed 65% of your monthly living costs off!

Nice to own a house too, must be a proud feeling sat in the house you bought knowing it's yours and no-one can take it from you Smiley Not even a BTC crash!
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sonour
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« Reply #19343 on: September 17, 2017, 05:18:47 PM »

Alex,

If you have significantly reduced your outgoings, does that mean that you bought the house for cash, no mortgage ?

Thanks
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chelseaboy
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« Reply #19344 on: November 06, 2017, 07:55:49 PM »

Any Updates?

I still follow both yours and BitB but both struggling for updates these days!!

Hows married life and London?
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verndog158
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« Reply #19345 on: November 06, 2017, 10:44:36 PM »

Alex,

If you have significantly reduced your outgoings, does that mean that you bought the house for cash, no mortgage ?

Thanks

i would assume so. im a mortgage broker myself and he wouldnt be able to get one as a poker player, no taxable income id assume!

gl alex, pretty cool buying a house. and also, its still an investment! house prices rarely fall, especially in the sort of area youre buying in
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« Reply #19346 on: November 07, 2017, 10:24:44 AM »

I believe they removed the west wing of cambridge manor and installed it on top of a london apartment block.

Builders were paid in advance, in Palm Beach chips.
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cambridgealex
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« Reply #19347 on: November 07, 2017, 01:36:28 PM »

Any Updates?

I still follow both yours and BitB but both struggling for updates these days!!

Hows married life and London?

Not much to update on Chelseaboy!

Lawyers and Estate agents faffing about with the flat- hoped to be in by now but not made much progress.

Just playing cash 5 nights a week mostly in London but still going to DTD couple times a month. Had a rough breakeven stretch between early June and end of September (#WeddingCurse #FlatCurse) but a great October and on course for my best ever year now.

Few days in Tenerife with the mrs next week to get some sun and break up the routine. Not doing any big trips like Rozvadov or Caribbean though  - kinda over tournaments these days.

Got an eye infection last week - the day before Spurs Madrid game at Wembley! I watched the game with an eye patch and could barely make out the ball, but was sick even so! Think I'm a Spurs fan now lol. I've been to probably 30 Spurs games and only seen Liverpool when they visit WHL so doesn't really make sense why I support Liverpool but just always have lol.

Was buzzing for Mitch's win on Sunday, very long overdue!
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Marky147
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« Reply #19348 on: November 07, 2017, 01:49:43 PM »

Glad all is going well, Alex.

Whereabouts in 'Rife you heading?

Me and a couple mates rent a villa during Cheltenham every March, and absolutely love the place.

Hope the mortgage/place gets sorted before xmas.
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tonytats
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« Reply #19349 on: November 08, 2017, 10:37:42 AM »

Must be contagious we 15 ? Of us go every year from our local ex serviceman’s club
Friday 24 th to the Tuesday staying at the los dahlias costa Adeje near the pheasant plucker star bar area !
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