Forum Replies Created
Goals, mmmmmm.
If you have clear goals you may acheive huge things……,
but then you might miss the smell of the roses on the way…..,
but then you might only ever smell a few roses when the whole flower shop is up the road and could be reached if you stuck to your goals…
, but then we all die anyway, why not enjoy life now…..,
But what if we don’t die……,
And what if I’m just a figment of someone elses imagination….,
or my own imagination!!!,,,,
What if the computer screen is actually typing on me, what if…. what if…[dunny]
[offtopic]
what was the question again, oh.
I got big plans for me and the world, and couldn’t acheive them without fast powerful goals.
Choose whats best for you.[angel]
lifexperience
All those who suggest they can see the future raise their left hands.
Now, All those who doubt them raise their right hands.
Have i summed up this thread?
he he he he[jester]
lifexperience
Russ,
I enjoy reading your posts, your positivity comes through.I beleive there are lots of people out there working high paid jobs with cash to spare and little money. Your offer to combine your personal time with others money seems genuine.
I like the idea of this forum being a place to join in and investigate potential real estate opportunities.
Good Stuff.[specool]
KayHenry,
Your voice of reason is a good warning to those on tight budgets with starry eyes.
I personally think that a lot of the people such a situation have a bigger problem than their tight budget. And that is the fear of taking the risks needed to create a life of abundance. [curtain]Monopoly,
You have mentioned a few times your friend who read books and went broke.
I have read “catcher in the rye”, does that mean i will kill the american president?
Horses for courses babe.
[pimp]lifexperience
Great thread you have started Monopoly,
I started out with the intentions of kind and giving, got burnt a number of times and gave false hope to certain people in the process.
I have re-evaluated and now go for FIRM BUT FAIR.[medieval]
Do you think the wife would be pulling hubbys arm when the TV store refuses to drop it’s price on the top of the range $10,000 plasma tv?
You could be reinforcing a couples attempt to live beyond their means.P.S. I know a guy that took his pregnant wife to buy a house in a clapped out old VolksWagon. He got it for a steal based on the sympathy vote. He owned almost $2,000,000 worth of property at the time!!!
[eh] [hat]lifexperience
Extras were:
Furnishings = Beds, Desks, fridge, Washing Machine, Dining table, couches, pots, pans, and other kitchen stuff (you can get a lot from $2 shop which helps tenants settle in).Towels, linen and everything needed for first night.Include gas, elec, water all in rent.
Bonus 1100W oil column heaters for rooms (will save heaps on bills, compared to if they bought a 10amp fan heater too)
Ran computer cables under house for them.
Deliver wood for their wood heater.
Get a gardener.
Have a rent to buy system for furnishings too, but am still perfecting this.
As they are students, I also split the tenancy up for each room. They get all of this for less than the cost of staying on-campus.
Extra money you outlay at the start, but even including the extra expenses i incur, I have turned a property well +ve cashflow.[juggle]
Plus i hope word will spread on the service and extras provided, so i will have a better base of tenants to choose from.
BUT, my point was to not rule out extras for tenants. I believe that if tenants had to choose between a landlord who only did the minimum required and landlords who offer extras, they’d choose the latter. Y’know better props attract better tenants.[sunny]
The purpose of my properties is to service the tenants the best i can, not the least. As a reward, i get +ve cashflow properties in high growth areas (cap gains !!!)
Hope this is valuable[idea].
[thumbsup2].
lifexperience
Sheeze,
I must have fluked a gold mine. I have a tenant who is a painter.
I buy paint (best quality i can get), I throw him about $200 cash per room, and he does a great job. I can’t even keep him out of the garden, he has added $1000 of value to my properties, [greedy]I just have to keep him supplied with tools and equipment. It screws up the weekly cashflow temporarily, but will pay off with increased equity when i buy more IPs.
Be wary of having poor paint jobs done, it can cost heaps more to fix the damage( full strip, primer etc.)
lifexperience
I have one example of increasing rent from $130 to $315 per week by going the extra yards for tenants.
Acey, Would you like to buy shares in my amusement park business now or later?
[dead2]
Lucifer, All my payments are automatic transfers, no probs so far.[cowboy2]I am pro-extras for tenants. Why limit the satisfaction and service you offer.
If extras make money, why not consider such things?
[hat]lifexperience
Sky_Jobe
Network Marketing is a business you enter into where you take on all the promotion and sales of the larger company. It might be groceries.
Usually have a support group of up-lines who encourage and guide you. Bit like a salesman.
You then take a proportion of profits of any customers you bring into the company. And then you get another proportion of any customers they bring into the company. And so on. In theory you can set up a huge passive income.
Shouldn’t cost much to enter into either.The trouble is finding a good one. A lot of them offer over priced goods/ services. So the pyramid you build under you collapses. A lot just take your cash and run (scams).
For example, I am in one with a telephone company that does mobile/local calls for about 7c per 30 secs. You initiate calls over the internet. (wink, wink)
Shop around, there are heaps. Just be wary when they ask for lotsa cash up-front.
[specool] cheers
lifexperience
hi word,
I am very interested in the idea of offering extras as part of rental agreements. I beleive you can turn an property well and truly cash flow positive this way.I have students in some of my properties, and the first thing they ask is “we need the internet”
Do you have that 1800 number.
How many connections do you think would be needed to become a broadband provider.
How much capital, where do we start.I would love to offer my tenants a broadband deal, and would love to get involved in a broadband business.
Want a partner?
lifexperience
Thanks for encouragement guys.[hat2]
lifexperience
So i get back to work which is in complete chaos, one of those fridays!!!
Later the cops call me ” erm. this is senior constable steve, ” asks me all sorts of questions about tenants and the house and my involvement. I am helpful, i got nothing to hide. They tell me they are taking care of things, ….whatever.
Then a call from the ex-owner “…..hey, the tenants have left the house,…now listen we need your key to the house, the cops and us are going to do a raid on the house and get the baby photos!!!….” they ask me
I mention that the residential tenancies act doesn’t encourage raids on tenants, and that i would prefer to wait for the cops. end of call.
I couldn’t believe the days phone calls, and when i finally get out of work , which was insanely busy, I really couldn’t be bothered with anything but a good nap. So i went to sleep.[snooze]
It turns out that the cops turned up and supervised the ex owners while they got their remaining stuff from the garage. I have heard no more about the alleged marijuana stash, I visited the tenants yesterday and they mentioned the irrational ex-owners. They said their 3yo boy had been playing in the shed, and took some blocks. There was no sign of metho or dope. And the tenants had done a great job re-painting the lounge and were starting to clear junk from the backyard.
Good tenants it would seem.[pimp]
Last Owners said they were going to press charges[smash]
The police didn’t seem at all interested.[snooze]
And I am happy while the rent is paid.[thumbsupanim]
There are numerous lessons i learnt from this whole episode.
The house number was 13, by the way.
[?]lifexperience
Part 2.
Quick recap, finally got last owners out of house, cleaned the pig sty, then placed new tenants. Then.. that phone call.
Now it was mid afternoon friday when i got that call. There were many breakdowns at work, which i am supposed to fix, so i have very little time to fret. I get another phone call later that afternoon from the last owners. This conversation was a little more rational.
“…..hi, we suspect your tenants have some of our stuff, there are plants in the garage and your tenants have been very aggressive…”
he started to babble about his wife looking in the house for their stuff, and about some kid following them through a park and losing the scent. and then stopped talking with the hint that i should sort everything out.so i did
i say “mate, I don’t know anything about your missing stuff, there was no lock as you know, so anything could have happened in that garage. Call the police if you want to. What the tenants do are up to them. If the police want to investigate, thats up to them but i can bet they have better things to do. I have to work til late.”
As long as tenants are up to date with rent, which they were, and the house was ok <the tenant had already painted two rooms for me>, i didn’t feel obliged to get involved. But i was starting to question the effectiveness of the due diligence i did on the tenants background.“…..Fine, i’ll call the cops!!!!” he said.
So i go back to work.[uneasy]
more later……….
lifexperience
sis,
Good questions.Sacrificing time with close ones in exchange for “getting ahead”, works well in theory in my head. Maybe an hour sacrificed now to research IPs may end up with much more time later for quality time, when $$ not an issue.
But my heart has been questioning lately. Am i weakening friendships, am i losing the opportunity to spend time with family.
What if a family member died tomorrow? What If I died People do die, and windows of opportunity to do things in ya youth must surely close?.
I tell myself that it will all be worth it, but am i missing out on today?
sure challenges your core life beliefs..[2way]
Maybe just a case of the “quarter life crisis” what should i be doing?
A lot of older guys i have chatted to about this say “It will be worth it?”
I hope i am on the same track as your post[eh]
It would be nice for some reassurance from anyone on the forum who has been through the hard yards, and any tips they had to stay focused…….or abandon it all?[bawl]
[hat]
lifexperience
Monopoly and y’all,
I have been so hyped with early ip purchases, that as soon as the topic comes up, i get too excited to notice any negative feedback,1. point out i had a humble beginning (started working and with nothing)and that
2. I have great goals (retire in 12 months) and then
3. point out that maybe they should too. Within ten minutes we come up with a quick plan to make them “money free” (i’m trying to find a cooler way to say financially free, a bit corny i think).
…..and off they run to research it.4. And then mention that i wish i hadn’t waited til i saved up a big deposit, and that i would love to have the amount of spare time they had, so i could research and set up more baskets!!!
This gets them thinking about themselves, heaps more fun than getting jealous at you.[thumbsup2]
Be proud of who you are and where you are, don’t let anyone take that away.
[wings]lifexperience
Go for it recoveryman, I hope you manage a smooth transition. Be careful and gooluck!!
[angel]lifexperience
Chan,
You can have my job now!! small print reads LifeX will receive 50% royalties from pay
“But c’mon y-know, that it’s hard to complain about the way you live, way you live” quote unquote Powderfinger Lyrics.I know you will find a way Chan[thumbsup2]
lifexperience
Mysta, if you can’t find cash +ve props, can you make them?
Maybe consider extras and unorthodox tenant groups. You may have to get your hands dirty instead of relying on pamphlet house prices and Real Estate Agent Property Managers.[curtain]
Russ, Have you considered doing the 2 week R.E. Agents Representative course and throwing a few bucks to the dodgiest agent you know to operate under his licence. (i am from vic, not sure if that is the case here!),
I wonder if this would legalise such spotting?
[idea][square]
lifexperience
The computer guy at work suggested “Could you plug a computer into the outgoing work phone line and use your own server?
[bulb]
lifexperience
I could go on and on …but…
What is more important doing daily tasks like washing or working or putting time towards building the life you want?[guitar]
lifexperience
Pisces, and all others. [daisy]
To quote Bear
Self sabotage comes in many forms, wether it is a personal attack on oneself physically (grog, drugs etc), mentally (paranoia, self doubt, procrastination) or financially (sabotaging ones own success).
I know this pain. I can tick all of these about 12 months ago. And I got myself into a lonely foetal position lamenting my own self misery bordering on the inner wall of insanity.
I want no pity here, it WAS ALL SELF INDUCED!And no-one came along and saved me… not even superman!![glum2]
So..
I set a goal, to be as happy as possible.
I spent 6 months clearing my mind, body and toxins.
I spent 6 months getting motivated (books, exercise). I found Anthony Robbins to be the biggest help, he uses NLP (Neuro-Linguistic Programming) which is a mind set that associates pain to the areas of life you don’t want and comfort to the goals you wan’t to acheive. Genius!! many books.
I am now focused on setting myself free in 12 months. I may come across as foolish and naive in this forum of experienced investors. Maybe even seem like a bit of a smart ass. Beleive me, that is not my intention.
I have a part of my mind set that says you can have everything you want in every part of life and more.
I have also had to accept that I will die at some stage, time is limited.
Please everyone, don’t lose your dreams.
Motivation is a part of investing, like research, or capital, or tax knowledge, or number crunching. Give it due respect.[ponder]
[hat]
lifexperience
