Forum Replies Created
Hi,
I was waiting for the BRW rich list to come out in regards to property, It was an interesting read especially the backgrounds and how they achieved it, I was a little surprised by some of the names, but if we gave it an overview business would be number 1.Sometimes these things are snapshops in time, I remember reading an article last year on eddie groves about how successful he was, now hes broke.
Shales and linar, excellent post, well done and congratulations, these are the people in here to ask how they did, you have walked the mine field and come out the otherside, now you can help us all!!!!I was waiting and I knew there had to be a couple, and it sounds like you are professional eg doing developments, well done, how did you start Linar?
shales, like the carbon trading idea, there are a couple of companies in australia doing it currently, to be honest i havent read alot about it but it sounds like an opportunity.
Did anyone read about buffet today, even he can make mistakes?
Hi,
Thanks for all the valuable information and insights and for everyone that posted back.
Personally i thought tony b gave a real indpeth view of what it like to own ip's and the costs involved, people dont think of the basics.
Heres my 2 cents worth for the sake of it, I think its worthwhile to think about the question is property the real answer or is just one method of the many you can choose.
I can only comment from personal experience and my own observations, so i wont bother going into theory or what the government should do, hopefully we the people will put enough pressure on them to do the right things by the people.
There will be lots of people that will have to sell their properties to try and survive as costs rise, i hear there are heaps in townsville right now, wonder how that happened?
Only one person answered my question, "who knows someone is financially free from property personally", and that person said they made money from business then invested in property to get free".
Is it just hype and bs, are we maybe sheep that have watched to many aca specials, baaaa, baaaa, but the majority dont, they dont have the skills or the cashflow. You need cash to invest with and for that you need cashflow from anything and lots of it, i dont care what it is, but a job supplying it isnt the answer becuase that can dry up any time!!!! Eg all the rich miners that just lost their jobs.
Personally I know of no one that counts on IPS as their soul source of income, its only one stream of multiple streams that have helped them get free.
Education, theres heaps of people out there with phds and bugger all money, australia dosent pay for science and it dosent have the facilites to turn ideas or reserch into commercial reality, we wont win here, the indians and chinese can and will do it beter in the future, they have population and money and low costs.
Our education system is stuck in the 1950s, most of it isnt relvant to how the world works today, most of its rubbish, how can i say this, well i have heaps of friends that are teachers, and my brother is a couple of years out of high school and he is clueless.
Maybe the govment should focus alittle more on how to help businesses, these are the people that run the economy, thats my only opinion on that..
Thats my 2 cents worth.
If anyone is interested in playing please let me know, as I want to organise a game for next weekend, pm me or email.
Thanks
Hi Guys,
What a response, thanks for your comments and ideas.
My thoughts are that there are some very well educated and people that will impact society in this forum, I think its good to shake and rattle the cage a bit, maybe even play devils advocate in regards to property and wealth creation.
There will be heaps of opportunities that will come from this downturn and the people that make the money will see things that others wont, dont or cant due to their vision, thinking, attitude and emotional control.
I am sure everyone struggles with as a investor or business person with this, I do all the time eg thinking and emotional control, fears a bitch.
The one comment that didnt come through was, how many people do you personally know that are financially free from property investment?, lets be honest about it!!!!, or is i have a friend that made so and so during the boom time!!!
Tony b you have some really good posts, especially about the price of property and the amount of money you need to make just to cover the interest, stamp duty etc this is one area that people forget, my wife and i discuss this all the time.
This my 2 cents worth just for the heck of it, I will only comnent on things we have seen or experienced, the rest is speculation.
I have a background in science, it dosent pay full stop, you can get as many phds as you want you will never be rich, people only pay for people skills not technical skills. Our education system needs to be focused on business, sales and marketing and personal resonsibility.
In regards to sicence and inventions, it costs too much to put a product from idea phase to final production, the chinese and india can do it faster and at a lower cost, they will control technology long term.The retailers woolworths and coles are controling more of the economy than anyone lets on, they are protected, they have hands in everything and they control the price of most items that are consumerable this takes the money out our pockets, their power is beyond belief and impacts almost everyone.
I wont ramble on about taxes, we are taxed too much and their is little or no incentive for business to function, business drives the economy and jobs.
My wife used to work for one of the largest property companys here in aus, from what we have seen most people dont make it, the professionals will and do because they have cashflow, the rest just hope and speculate based upon the opinions of others. Thats the truth and bottom line.
My personal opinion is this, you need to decide how you want to live, ie how much do you need and what would you like to do with your time then go after it, maybe it is property, shares, business, they seem to be the main three that people follow.
Make the cash from muitlpe streams then invest, its too hard now to invest from our jobs and create wealth because ours costs are too high, make the cash, its king then invest, then your safe and bulding assets at the same time because there is no job security anymore, you will need the passive income and cash at some point.
That smy 2 cents for now
Will email you
Interesting, thanks for the info and discussion
This is my thoughts anyway, (this might upset people), if you have to live there why buy?, its overpriced and unless you buy undervalued your probably better off investing your money somewhere else, often buying a house is an "emotional" decision not driven by logic.
The mortgage will be high and interest is high too, ie you need alot of captial growth to get your money back, not sure what average price is maybe 500K, you could buy 2 houses for that with rent serving the loans and you could rent and live there instead.
Re cashed up couples – a friend of mine just bought an apartment in the inner west, she swears blind that every place she went to had aline of young couples (with their check from the gov in their pocket) trying to buy a place. She made a couple of offers and was outbid on all of them but 1.
Hi Mark
I would be interested, have you progressed this any further?
Hi,
I have a friend of mine that went, well him and his wife, they said its great for personal development but little substance overall, probably not worth the five grand based on there comments overall.
Invest in a systemised business so you can get enough passive income to invest in property.
simon, business and investments
He is very systematic in the way he approaches things, however I find his thinking the most amazing thing, its on another level to be quite honest.
Hopefully I can learn some things from him to get to my goals quicker
simon a mix of income streams
The simple answer is no it isnt, read cashflow quadrant by RK
Get passive income from business then invest in property, shares, its too hard to just using job income.Property should be used as one stream of income, not the only one, its quite slow esp in the current market but is good for the long term and to create stability in your portfolio.
sounds good, lets have a game when you get back
Hey Sg,
Thanks for the reply
No not network marketing sorry your incorrect, our business model has business partners (franshiees) like normal retail stores, but differs slightly .
Just wanted to clear up assumptions that you may of had
Fear controls a lot of people
People need to get over themselves, what happens if you go to a seminar and find out something that you didnt know was possible or you learn something new, if its free, why the hell not?, its not a waste of time if you learn something new, think outside the box and be open minded.
I have no idea about what that seminar is about or offering, I am just talking in general terms about personal development.
Hi HB,
Sorry I am not in here that often so its hard write back , I applogise for that, just email me or pm and ill write back to you. I just got back from Fiji on monday so I have been a little snowed under.Here goes this is what I did:
1. I was very very open minded and teachable, I dont blow off things because of perceptions of what I or others may think, people often judge things because they look simple and they are not complicated.2. With the help of a team of very successful people and mentors I developed a passive income based business that is duplicatable and system based, these things are key, without a system and without duplication there is no passive income, eg what would mcdonalds be like with out these features, they would just be a hamburger stand. During the 12 months I invested my time that I had spare so I could buy it back later.
3. The passive income that I receive is used a feeder, this income is then invested into property, shares or my my morgage, this creates more wealth.
4. Repeat the process.
I am not a guru or special, iam a boring ordinary guy, I have a job, a wife and a dog, but what I have in my corner is just great mentors and drive and ambition. For me to explain all the details in writing it would take forever.
Well I am trained as a scietist, but theres no money in that (do you know any one thats rich in science, they do it for passion, not the money, but I like I said dig the well before you need it), so part time I set up a business with some cluded up people, that were free and already successful business people, I learnt for a long time from my mentors, I continue to each day.
And now in the time that I have off or thats avaialble, I help people or at least show people how I did it and the system I used if they are open minded (eg teachable and have passion for life) and for the scheptical people out there I dont charge people for it like gurus or life coaches.
One of successful princples I learnt along time ago, was if someone helps you across the mine field and you can follow their steps and then you can help someone else do it, you are essentially giving it back or passing the infomation on. Theres plenty of money out there, people just need to know how to get it, keep an open mind and look for opportunites.
People are keen to learn other wise they wouldnt be on a property forum, and I dont pretend to know everyhting about property but I am keen to learn as much as I can, but its not the only way to get across the mine field, what about having multiple streams on passive income, why do people only limit them selves to property, is this a confort thing or what is “mainstream beliefs”??Many corporate CEOS dont have a lifestyle,they just have a high hourly rate, I am only speaking about the ones I have met or have done business with work wise, they dont get it because they have been taught by right hand side quadrant people not left hand side people, eg professional investors/ passive based business owners, I ditched that idea because I have seen the result, I was on that path, Global Manager of a divison at 23, Senior Manager of a company at 26. I only talk about what I have seen and experienced, going to uni, getting a good job, working your way up is not the answer any more, neither is resting on your laurels and making no changes, I have a friend from school that sprays furniture, hes being doing that for over 10 years, he earns 35k per year, no pay rise in site as that is what hes been on for 10 years and he has no passion for spraying furnitre and either would you if it affected your health, why does he do it because he has a family to feed.
Yes I have a job, no the 40 K is passive, its not income from my job.
Gross, you are correct, but how about doing it without investing the all that money and not selling books?
So what about having pasive income without the investment in cash terms, would this be better than having all the money invested, cashflow is king, and it doesnt matter how you get the passive income as long as you get because at some point you will need it, eg lose you job, get sick, some cris hapens etc. DIG THE WELL BEFORE YOU NEED IT
My thoughts are that if you can buy your time back eg through passive income then you can do what ever you want, eg I am just about to go on holidays, but it would be great if the holiday was a little longer.
People need to open their eyes and look around at all options and stop being blinded by what other people think, have some courage, have some guts.
I strongly belive I will be retired by 30, this was reinforced this week by meeting someone that is 45 has 2 kids and earns as much income in their job as me, boy was it a wake up call.
If anyone can show me a faster way to earn 40K passive income in under 12 months than what I did please contact me, my email is [email protected] or pm, i am welcome to hear how.
wow, so many intresting comments, personally like I said I belive if you can replace your job income with passive income then you have options then you choose what you work on and how much time you want to use doing that activity, eg this is a stupid example, but many teachers I know love teaching, love kids etc when they start teaching they love it but maybe after 20 years teaching they may not have as much passion for it, its a little like if you have to earn money for it then its a job, where if you could teach when you wanted and the kids you wanted to teach because you had passive income it would be a different option.
This is my view
1. Find a mentor (thats easier said than done) one that your not going to be charged for advice but has a vested intrest in your success.
2. Be teachable and open mineded, listen and learn.
3. Implement it, action.
4. Systemise it so it gives you passive income
5. Help others
6. Repeat the process
