Forum Replies Created
To illustrate the ‘Its unfair how much they charge’ issue I will point out two basic business rules.
1. You can only charge what the market will pay.
2. Value = percieved benefit / priceIn this case the market is obviously paying the price, and they have plenty of people signing up. So, from a business point of view, the price is spot on… maybe even a little low. If people stopped paying, the price would have to come down.
To the second rule… Granted, Mr. Allen may inflate one’s perception of benefit ($1m in a year), but it is still their percption and they are the ones making the decision. In much the same way as a more astute individual disallows their perception to be affected by hype and doesn’t sign up.
Value = ($1m) / $4000
= 250Furthur on the measurment of value…. Any really good book costs about $25 retail. To have the same value (as the RA seminar) it would have to in some way help you achieve a sum of….
250 = benefit($) / 25
=$6250.
I know the numbers cant be accurate but its the idea that counts.Im sure there are many who could say reading one good book has made them $6250. For many, Steve’s book has done that many times over. I believe reading one book changed my destiny completly. After reading one book my plans for the future were changed (or maybe just written) and felt I had the potential to be more than was expected.
Do I still read today??? Very much so.
Do I sometimes loose motivation??? Yes, but that would happen whether I paid $4k to be motovated for a few days a year ago or not.
Can I be motovated by reading a few pages of a brilliant book??? Yes
Can I be motovated furthur by the sucess I have made for myself & others??? Of course.
Also, let it be known that for many years I thought books we a waste of time….
cheers all
blowieMoney is an elastic resource, it can be created. Time is not.
Sounds sweet.. slide a copy down to…
tvandoore[at]hotmail.com
Muchly appreciated…
timMoney is an elastic resource, it can be created. Time is not.
Wizzzard,
Which part is the nessy-sarah-lee bit??? my understanding of the CGT law or my final statement reguarding renting???
Just want to make super-sure I have my facts straight….
cheers
blowieMoney is an elastic resource, it can be created. Time is not.
This is true, however after you move out and start renting the ‘new’ IP, you cannot establish a new PPOR. When you do you lose the CGT exemption from the original (PPOR now IP), and it moves to your new PPOR. This stops investors avioding CGT altogether simply by living in the place for a little while.
This will work if, for the six years, you rent a place or something. But this defeats the purpose of investing anyway…
Hope this helps…
blowieMoney is an elastic resource, it can be created. Time is not.
I have looked into student loans before I started uni. I was pursuing a career as a pilot at the time, and needed extra funds to continue training. Most institutions only gave loans for about $5 – $10k, not enough cash to go furthur with my training (let alone buy a house)As far as I know the must be used for education purposes.
On the upside though, many of them have the interest deferred for a while for you so this could be a good point.Is Dolf Australian??? if not then I suspect the student loan scheme may be different elsewhere.
As to networking…. we’ll see how many proactive students there are out there. See if anyone will jump on the bandwagon…
cheers
blowieMoney is an elastic resource, it can be created. Time is not.
Thanks for sharing, twas a good read.
cheers
blowieMoney is an elastic resource, it can be created. Time is not.
Jaffasoft,
I believe that Risky has a very important point for you to consider…
cheers
blowieMoney is an elastic resource, it can be created. Time is not.
hey Charchie,
$60k is dirt cheap… i would guess the floor area would be small (40m2 or less), and if this is the case you may have a little more trouble getting finance if you want to borrow over 75% lvr.
When it comes to body corp fees, though…. o my gosh. My guess would be: highrise, a few elevators, gym, pool, sauna… These can be a real killer. Body corp shouldnt be your biggest expense. Elevators usually mean high maintainance costs, which means big costs for small units.
best of luck in your hunt,
blowieMoney is an elastic resource, it can be created. Time is not.
You may find it quite challenging to muster up the resources to begin your portfolio. I am a student as well, and it seems there is a lot of us on here. Perhaps we can get a little networking going between people in similar situations. Students looking to fund uni and get experience while they are still young. More difficult without a good, constant income though.
Sorry not to answer your question, but I think others will be much more able. Perhaps you can use this technique, perhaps not. But uni students generally do have much more time than most….
cheers
timMoney is an elastic resource, it can be created. Time is not.
Risky,
I would imagine this would have the potential for good cashflow. Are you planning to go forward with this or not due to the reasons you just stated????
cheers
blowieMoney is an elastic resource, it can be created. Time is not.
Thanks for those…. Maybe I should look around before I ask a question…
But still, I see all these little spreadsheets and programs going to and fro via email and I was thinking that if it was in one place it would be easier.
thinking out loud…
blowieMoney is an elastic resource, it can be created. Time is not.
Guys,
If you really want to factor in inflation, just subtract the inflation % from your yearly return %. This will give a relative dollar value.
I believe that the title of ‘millionaire is more of a milestone rather than a destination, whether their million is worth less than todays (or yesterdays) dollar is irrelevant when you conceive it as a goal rather than a monetry value. If you really want to factor in inflation, just subtract the inflation % from your yearly return %. This will give a relative dollar value.
However, the purpose of a calculator such as this is to inspire, not discourage. For this reason it is very simple. Let the masses know it is possible and all they have to do is find a way. Then they can deal with complications. After all, its the starting that stops most people.cheers
timps. congrats on all those pretty gold stars s.i.s
Money is an elastic resource, it can be created. Time is not.
The way I read it, I assumed you dont live in the place at all. ‘Rent out several houses near unis…..’. Sorta like a business on the side.
blowie
Money is an elastic resource, it can be created. Time is not.
Back to the talk of s.i.s’s investment statement on his signature, (which we all get to read often enough…) you can find a calculator here –>
http://www.theenlightenedway.com/tools/mil_calc.shtml
This is a nifty little thing, and it beats using excel or worse… a pen and paper.
cheers
timMoney is an elastic resource, it can be created. Time is not.
Care to share any details??? How did you approach the landlord???
any insight appreciated
timMoney is an elastic resource, it can be created. Time is not.
quote:
I have read the book and have to say I though it was a great read. It was amazing how they used the principles back then to make money, as it is a true story based on stone tablets found in the desrt. It really changed the way I thought about money and savings.The laws of money have always been the same, it is only peoples understanding and interpretation that changes.
Something to ponder on…
timMoney is an elastic resource, it can be created. Time is not.
You must think outside the box. All the ones in the box are already snapped up, unless you have good connections. Be creative in your search. Get information anyway you can. And keep reading books. 1 or 2 books wont make you literate in the area. Sadly, whats most important is taking action on your aquired knowledge, and this can be frustrating in a situation such as yours. If you are smarter and more creative than the average joe you will beat him every time.
best of luck
timMoney is an elastic resource, it can be created. Time is not.
Always investigate carefully. Youll find that good deals very rarely (if ever) get stuffed in your face. Trying not to sound like a broken record, but do your Due dilligence always. Time spent here is always well spent.
best of luck
timMoney is an elastic resource, it can be created. Time is not.
SiS
very interested also… please tell. I myself am still at school at 21 (uni actually) and am having a challenging time getting started whilst on uni student income. What do you attribute to your sucess thus far???
cheers
timMoney is an elastic resource, it can be created. Time is not.
Sorry to be stupidly obvious, but is it an Australian book? Ive spent ages trying to find out stuff before, only to find out the strategy/rule cant be replicated here. Worth a check, as it seems to be a contradiction…
cheers
timMoney is an elastic resource, it can be created. Time is not.
