I have wanted to get into property investing for a long time, but due to financial commitments it hasnt been possible. Now it finally is. I have watched this website for a long time and always enjoyed reading peoples posts and comments, however there is one thing that always seems to baffle me… the number of people after CF + properties.
I feel that many people looking for CF+ properties think that life is served on a silver platter and all you have to do to have a money tree growing in the backyard is to get the dog to turn on the automatic watering system.
I have news for you all: THERE IS NO SUCH THING AS A FREE LUNCH!!! Folks, CF+ properties dont come easy and mostly dont give a good capital growth. If you get a CF+ property that makes you $50 a week, then in my numbers that means you would have to find at least 40 properties to give you a $100 000 salary before tax. If you can find these, GO FOR IT!!! For the rest of us who have a brain in our heads and know that only hard work brings income and rewards, WE WILL KEEP DOING OUR HOMEWORK and leaving nothing to chance!!!!
For all the gurus out there, thanks for your advice. For all the beginniners and those wanting to get rich quick… i have some useful advice…..
Rule no: 1: Theres no such thing as a free lunch
Rule no 2: If you see an advert giving away free lunches.. before you start feasting……….. SEE RULE NO 1!!!!!!As a full time teacher and a part time investor, my motto is:
DO YOU HOMEWORK…… Run your figures…….. DO YOUR HOMEWORK!!!! then,,,,, rather than procrastinate….. Take a calculated risk and JUMP IN!!!!!ENJOY!!!!!
PS: After i have done my homework, etc etc and taken a few risks, i will post my successes. Watch this space!!!
Barney
Hate to disagree. Built our portfolio on Installment contracts and they give you a darn sight more than $50 / week.
Richard Taylor | Australia's leading private lender
Wow so much attitude and 'advice' from someone who admittedly has zero experience lol You call yourself a developer…..so what have you developed? Thats o.k Im the C.E.O of my own company that I just registered online lol. Hows that saying go…those who can do…thats that cant……..teach?
Screw this property caper-Im getting some money from Gloria!!! How lucky can you get!! Yipppeeeeeee
Gee Gloria!!! for someone who had a stroke your typing is marvellous. LOL
Blogs, i think you're being a bit hard on teachers. i know two teachers and believe me they mingle in private schools with professors and doctors. Who taught you how to add up the numbers in your investments, oooh a teacher i presume. Be constructive, we are all here to learn and share… not pick on newbies like we are AT school!
beaniemonster wrote:Blogs, i think you're being a bit hard on teachers. i know two teachers and believe me they mingle in private schools with professors and doctors. Who taught you how to add up the numbers in your investments, oooh a teacher i presume. Be constructive, we are all here to learn and share… not pick on newbies like we are AT school!Ahhhh actually the majoirty off what I know I have taught myself through reading and experience as I have found the vast majority of teachers dont know what they are talking about and are teaching because they couldnt/cant cut it in the real world. I have also found the vast majority of teachers have a know it all attitude when they really know nothing more than the 16 year old kids they are teaching in high school, and as for uni tutes/leacturers…please dont get me started on the clowns…..but that is another topic for another day and I will try to remain contsructive, and in my view someone telling us all how to do something and stating those who dont do as he says have no brains is hardley constructive when they have no experience is it…..
i do agree with you blogs on the last sentence, but geeze you don't have to generalise about peoples professions. Instead of commenting to him and putting him down, just ignore the post altogether, you aren't helping people feel at home when you put down their profession. Let people express themselves, it is here for all of us to join in don't you think? I'm a stay at home mother with a hard working husband, have you got a comment about my CHOSEN JOB???????? oh and i would love to know so i can tell my kids… what is the real world??
beaniemonster wrote:i do agree with you blogs on the last sentence, but geeze you don't have to generalise about peoples professions. Instead of commenting to him and putting him down, just ignore the post altogether, you aren't helping people feel at home when you put down their profession. Let people express themselves, it is here for all of us to join in don't you think? I'm a stay at home mother with a hard working husband, have you got a comment about my CHOSEN JOB???????? oh and i would love to know so i can tell my kids… what is the real world??I understand where you are coming from but there is also al lot to be gained from good open discussion and expression of opinions-Im looking forward to Barneys reply, who knows he may help me to see the error of my ways though I doubt it. And whilst maybe I should have 'tried' to be more welcoming if someone is going to barrel on in with their first post saying how much of an expert he is and how dumb everyone else is of course Im going to let my thoughts be felt-no need for him to be offended, we are all big boys and girls. He expressed himself and I expressed myself…easy
As for your profession what can I say-I admire you and take my hat off to you and wish there were more people like yourself. Seems all to common people would rather ship their kids off to a child care facility so they can afford a new plasma rather than spend some time at home during what is probably the most important stage of a childs life…congratulations.
As for the real world..well put it this way, I find it rather amusing being taught a subject by people who havent experienced it in the real world, i.e been experienced to something other than a text book. Anyone can read a subject out verse for verse from a text book to a class of students but is that 'teaching'? Hell I can and do just as easly sit at home and read myself. I also have had enough of my questions relating to real world practices being brushed of by the tutor/teacher/lecturer as being outside the scope of the material being taught simply due to the fact they have no idea on the answer as it isnt from the pre prepard questions they have generated from the text book….schools and unis these days are a disgrace, whereas in days gone past many teachers may have been people who had a genuine interest in the subject and therefore a thirst for knowledge and challenge of concepts which was then passsed onto students and discussed in depth. Now they seem tobe a group of people who know no more than what is required to be taught according to the sylabis…..
beaniemonster wrote:Be constructive, we are all here to learn and share… not pick on newbies like we are AT school!This is bully-free forum. Nuf said.
Thanks Barney, good advice.
I have found a bunch of CF+ properties due to their depreciation. It did take some homework as you said so I agree with you fully. I didn't get them as a free lunch.
Oh, and grats on getting to a place where you can start getting into it. I love to see how you go!
Absolutely agree .. a bully-free forum .. and also agree about the professions … I for one – absolutey respect those developers I know … the photos are just wonderful .. be nice folks
Thanks for the advice Barney Jones
After reading your thead I have finally understood the error of my ways,….lolBarney I don't think any one on this forum believes that anything will get handed to them on a silver platter, But can you blame anybody for seeking cashflow positive properties, at some stage to continune growing your portfoilo you are going to need positive cashflow coming in,
How many properties can you own on a teachers wage, if each property has a negative cashflow of $100.00 a week, 1 or 2 maybe 3 if you really lower your standard of living. so what are you going to do once your in the situation where you can't afford to continue growing your empire because the bank doesn't want to lend you any more money, you are going to have to seek more cashflow from some where, this is where positve cashflow properties come in. because once you get that extra cashflow coming in you will be able to by more growth assets.
I know your a teacher but I don't think you should be providing a lecture on investing stratergy until you have a bit more experiance under your belt, It takes years to build up your investing skills, and just when you think you have a handle on it you learn a whole lot more,
RobL wrote:Absolutely agree .. a bully-free forum .. and also agree about the professions … I for one – absolutey respect those developers I know … the photos are just wonderful .. be nice folksDraconisV wrote:This is bully-free forum. Nuf said.Guys I realise Barney Jones may have over steped the mark by calling you all idiots and saying you expect everything for free and that you dont have any brains but I will play devils advocate and suggest you refrain from calling him a bully until he has replied
I am not a bully, nor am i putting anyone down. Bullying is not allowed in schools, so why would it be acdpetable here? Bullying is for cowards,,,,,, not me. I just have spent a week going through the last 3 years of posts on this website and it SEEMS to me that there are a large number of people who think that they will be able to make a fortune by simply finding a heap of CF+ ppropertys, when REALLY it isnt anywhere nearly THAT EASY. I think there are HEAPS AND HEAPS of great postings here hence the reason i have spent so much time reading them all. THe ones i am referring to go something like this: "I am new to this PI stuff, but i need to know where i can find CF+ proprties so i can retire in 5 years". Do you get my drift???????
In repsonse to all the "know it alls" out there, well where do i start. I should begin with the comment "those who cant…. teach". Well i agree with one reply who said "how did you learn to read and do your sums on an investment property?" I disagree with the comment about teachers (derrrr obviously). I have a fun time talking to mates who arent teachers, and there is one thing i always say to them "well if you think teachers are dead-heads or have it easy…. how about we swap for a week" and EVERYTIME i never get any offers, FUNNY THAT!!!! I challenge you all, if you think teachers are deadheads, well you maybe right for a small proprotion, but probably less than the proportion of deadhead laywers, or plumbers or whatever! If you think teachers have it easy, wander into your local school and offer to teach for a week and see what its like! If you come out the other side after a week, and havent had an emotional breakdown because you gave back a maths test they failed and mum and dad came in and abused you, or you had some teenage girl not running in PE lesson who you kept back after class to talk to, who then contacts the police claiming you assaulted her, OR the principal got some phonecall from an irate parent claiming you cant teach!!! ALL in the life of a teacher! If you get through all this, i will listen to your comments!!!!! I have done many things in my lifetime and didnt just leave school, spend 4 yrs at uni, and go back to school for 40 years. SOme personal info. I spent about 8 years in the consturction industry, 2 years teaching in London (if you think thats a glory job, i have news for you) and also have done MANY odd jobs on the way and during my holidays. I certainly have life experiecne, and would chalenge anyone who thinks to the contrary. How many of you have had the initiative or abillity to pack up and go and work in your chosen career/position in europe or something similar. Life experiecnes come from getting out of your comfort zone and making a go of it, THIS is one thing i certainly am an expert in! I think i have enough experience to know that teaching isnt full of deadheads who arent any smarter than the 16yr olds they teach, but are in fact highly qualified and trained, and spend many many many hours doing their work. Even if they only have to be at school from 8-3, i GUARANTEE you that most teachers, me included, spend countless hours outside the classroom ensuring our teaching is the best that it can be. How many of you have the opportunity on many occasions to do a dodgy job with the knowledge that no-one will over know, you know comments like "what the eye doesnt see, the chef gets away with"??? try doing this just ONCE in the teaching game and see how many furious parents rock up at your door ready to blast your head off with something like "this is my sons education you know". Just remember, teachers are the ones who shape the next generation, and i am certain that some teachers in the past have been a little dodgy… hence some of you got through school!!!!!
Regarding investment strategies. Yes i am only a beginner but i have owned an IP before going overseas, but i have been privy to many investors strategies and successes and failures, as well as a few dabbles of mine from time to time. Even though i havent actually bought an IP for a few years now, i have folowed the papers, the forums, the magazines and being a maths teacher, the statistics, and feel i have a pretty good understanding of areas i am interested in.
Regarding comments on -vely geared properties. I think all you teacher-bashers would be surprised to know what "the humble" teachers wage actually is these days. It is a little more than $40000 these days for all you cynics, and if you dont know, do some HOMEWORK and find out, i think you may be surprised. As for how many investment properties you can hold if they each cost you $100 a week, well to put it simply, a few. However, knowing this, there are many more ways to make wealth from property including subdivisions, and developments, plus all the dodgy ones many dabble in, of which, these two are my passion, and i have followed many who have done these successfully, and i have learnt HEAPS! I dont have any success story yet, but as i said earlier, watch this space.
Another one of my favourite sayings "you will never know everything but the more you know the better, so if you go through one day without learning something new, you wasted a day"…. hence my knowledge of investing is certainly not beginning, but even more certainly no-where near the end.
I hope i have clarified my earlier comments.
[
barney2803 wrote:and i am certain that some teachers in the past have been a little dodgy… hence some of you got through school!!!!!Now now play nice, wouldnt want to be labled a bully again now would we…..
BTW how can you call yourself a developer f you havent developed anything? Also given your expertise in the area of statistics what is your take on the current level of debt to equity ratio we have and where do you see it heading?
G'day barney,
subdivision and property development are positive cashflow stratrgies.
I think what got blogs back up barney was the way you basically said certain peoples investment stratergies were flawed and that the had no brains for even considering it, then in the same breath admitted to having little investment experiance, you may understand a bit of theory behind investing but until you have real world experiance and suffered real world profit and losses your opinion doesn't really have any weight,
How can you say such things and insult peoples inteligence like that when there are people on this website that have achieved wealth far greater than youself by using these stratergies.
the way you say things definatly has a tone of arrogance, as do alot of people with academic backgrounds, I have never liked the way alot these people talk down other people who are not so academic. I have copped this kind of attitude since I was in high school, from people who looked down on me because I didn't follow the path of chasing good grades through high school and then going onto uni, But i believe I am in a far greater financel position than my peers who did follow that path.
their are many different levels of investor, many people who call themselves investors are not investors, to be a true Investor you need to have a full understanding of all the different asset classes out there and how this assets classes relate to each other, you also have to have an understanding of the different stratergies available within these asset classes, you have to understand the different financing options and the pros and cons of each on, and the different structures available for holding these assets and there longterm pros and cons,
I hold about a million $$$ of property, a decent share portfoio, and run my own company. I have spent years building my investing knowleadge, and learned alot through experiance as I have build my wealth. But I don't classify my self as a sophisticated Investor yet, but I am on my way, that is why I don't take it well when a person with zero experiance gobbs off like you.
Lighten up folks. Let's think twice before we label others or get all sensitive over some stranger's opinion. Perhaps we need to keep our opinions to ourselves and direct our discussions to investing.
If this thread doesn't become useful in the next few days it will be deleted. From what I have read so far it seems like a waste of server space.
Barney, you know the theory – how can we help you get the ball rolling?
Cheers,
Barney, how can we help, this is a help needed forum, ask away i'm sure everyone here is very happy to help out, thats the impression I get when I ask my questions.
Ask Away…..
You must be logged in to reply to this topic. If you don't have an account, you can register here.
