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  • Profile photo of Pat VPat V
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    @pat-v
    Join Date: 2004
    Post Count: 9

    This might be a bit off where the topic has gone to (having babies), and I’m not sure whether it is even relevant to the original point but what makes me laugh these days as an early 20 something man (gen Y?) is that quite a few people, whether for parternership or firendship or whatever (let’s call them the Paris Hilton Wannabes) are choosing partners based on an appearance of wealth – ie. their ability to swipe a credit card on the expectation that being associated with these people will mean a lifestyle of luxury and good birthday presents. But those people who do have alot of money, are saving, and perhaps are catching public transport, not going out too much etc to save money, can be viewed as less likely to provide them with the comfortable lifestyle because they often don’t look flashy, and consequently are overlooked by the people who desperately want to be rich and are evaluating partners on the basis of their financial resources.

    Nowadays it’s far too easy to look wealthy. Eg. a tailored suit only costs $1500 which is within the grasp of any guy with a credit card. But people still are evaluating others through 18th century lenses based on how they look. Not alot of people really seem to have grasped the fact that so much of what they see is an illusion. For anyone to stop spending and getting in debt, they need to realise that looking good and splashing money around does not make them wealthy.

    And people can still look good to other people without spending alot of money, cause so much of what we do to make others take notice goes completely unnoticed…

    Profile photo of Pat VPat V
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    @pat-v
    Join Date: 2004
    Post Count: 9

    nope, no edit button for me… [angry2]

    The whole thing of doing what you love career wise is generally not important here, cause I like most areas of law apart from torts and family. I’d get alot of satisfaction out of being a property lawyer, and would get alot out of being a patents lawyer. I’m just wondering whether there’s any part of the investing process where being a property lawyer might be an advantage.

    Would need to be a specific and definite advantage though, cause I have the skills to look up the general law and get a reaosnable understanding of it.

    Profile photo of Pat VPat V
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    @pat-v
    Join Date: 2004
    Post Count: 9
    Originally posted by Monopoly:

    Yes there are positive cashflow properties out there, but they are not as common as in previous years. They are difficult to find, but not impossible.

    What is the reason for them being not as common as previously? Is it the current market conditions, the fact that more investors are now after +ve cashflow properties or both of these?

    Profile photo of Pat VPat V
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    @pat-v
    Join Date: 2004
    Post Count: 9

    And any way to edit your posts here? My spelling of opportunity in the above post was horrible [ohno2]

    Profile photo of Pat VPat V
    Member
    @pat-v
    Join Date: 2004
    Post Count: 9
    Originally posted by IQ:

    Peter Spann said that Knowledge applied is wealth.

    We always have students who just finish university knocking on our door, and said they want to apply for a job as system design. I am sure they are knowledgeable, but we never offer them a job. Why? If you can answer the question, you sure know what to do next, right?

    The answer is their lack of experience and a proven track record. But again, as a student with not enough income to cover me should I make a mistake I have no interest in buying a property.

    I know what to do next to apply my limited knowledge – become familiar with the property markets so that when I do start, I can do so straight away. But my knowledge is limited and hence why I’m interested in finding out to what extent th eother people on this forum have found education through sources such as books and seminars helpful.

    Profile photo of Pat VPat V
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    @pat-v
    Join Date: 2004
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    Thanks for the replies.

    What I was looking for was basically just an indication of how much people who are already successful investors have spent on educating themselves and in what ways before actually investing and learning as you go. I’ll constantly look at what I’m learning from books and seminars and see if it is helping me, but if it isn’t helping me any longer I’ll cut it back.

    I find books useful to give ideas for what you should be doing, and to help point out steps you should be taking. I tend to rely on my own ideas mroe than the ones in books, and try to come up with 20 new ideas a day, but books also help me to evaluate those ideas. At the moment I’m fairly comfortable with just learning aobut investing but not doing it as I don’t want to take on any real risk whilst I’m a student, and am in no extreme hurry to get financially independent as I really enjoy what I study.

    And I am a him, as indicated by my ‘Patrick’ signiature ;)

    Profile photo of Pat VPat V
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    @pat-v
    Join Date: 2004
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    Sorry for the double post, but I have another question.

    What would be the best way to window shop for property? Do it online, or go into real estate offices and actually talk to the salespeople there?

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