Forum Replies Created
GriffO
Good for you ..
Could you tell us how you have managed to save 68k at such a young age ? You would be in a far better position than most young folk I know . Your folks have done a good job on you
Interesting comments Marc . I agree with alot of what you said . You must have read Rich dads prophesy huh ?
As I understand it though , super doesn't have to be invested in shares , stocks , paper assets etc , ie you can start and manage your own super fund if you so choose….and invest in property if you like within the fund though I don't believe you can borrow money or carry on a business within the fund . At least here in Aus ..
I suppose this gets back to why Kiyosaki says how it is risky to be an employee these days . Personally I agree . I'd rather run my own race in business . I don't care about the statistics of failed businesses etc etc .
Also I think retirement is a working class kind of word……
But But what about the asset protection issue of super assets being outside the grasp of litigators…I;m not up to date with all the law changes with super but Noel Whittaker always pushes this point .
Having said that I reckon i'd be very nervous if i had a heap of super invested with a large fund that i had no control over . It's kind of like a white bread investment is'nt it ? No matter how well the fund was doing .
Marc I read that in the US large corporations like General Motors do not have to disclose to their employees any detail about how the fund is doing etc . The rich have campaigned for these laws…If you are a Kiyosaki deciple then we have a big crash due in the markets when the BB generation start to retire in numbers and /or panic and withdraw their capital ?
Hello G
Great link . I havn't done any seminars or courses on investing though I do read a lot .
The best education is to get in and have a go at something I reckon . I have an Industrial warehouse in a vic regional town and a vacant industrial block at the moment as well as two businesses keeping me busy and I havn't had a mentor to bounce ideas off .
Did you read the article about Dolf in the latest PI magazine ?
I remember about three years ago there were several forumites that were heavy contributors with heaps of knowledge and quality posts and then it was like one day they decided that they had had enough……Terryw is the exception of course but then his profession keeps him here aye..
What has happened to MiniMogul ?
Hi Dave
I enquired about this book at my local library abut two years ago after baulking a bit at the price . The library actually purchased the book for me after i requested it ….
I havn’t purchased the book but should really . The author spells it out very clearly for all us drongos who don’t get all the legalese jargon…..
If you are registered at your local library with an online username and password then you can search around statewide or even nationwide for a copy . I think there could be a modest $2 fee or something depending….I do this all the time but I also buy a lot of books . I have bought a handful on e-bay and some at second hand shops…..
There comes a time when you need to pull your finger out and take action . That applys to me [biggrin]
Good on you Mathew …..
What do you see of the future of where you have invested ?
Nice one Terry…..
I had a tenant pay eight months rent in advance last year and she was a good tenant all round . This was her dicision to pay the money up front . After the eight months I had to chase her for the rent but there was no great drama etc etc .
What I did learn is that there is a subtle hint there that they cannot manage their money well .
I agree with Terry though….. sounds OK……………
The first book I ever read about investing was ‘Making Money made Simple ‘ by Noel Whittaker . I know it is not really about property investing as such …..more about life really .
I have a whole cupboard full of books these days but I would say that Noels first issue of this book , back in 1986 I think it was , is probably the one that set me off the most .
Investing books are popping up like mushrooms after rain these days . Its hard to know . I suppose that is what libraries are for eh?
On the subject of Warren Buffett , I like to remember a good quote that I recall after reading one of his books .
‘There is only two rules in business .
Rule no. 1 DON’T LOSE MONEY
Rule no. 2 DON;T FORGET RULE NUMBER 1′
Hmmmmm , the mother in laws curse ……
Just when you need her she will be off on her broomstick to make up poisonous potions and spells for you . I would look elsewhere……..
A builder friend of mine tells me that painters charge 35 an hour and although i have not kept an accurate account of my hours i suspect there may not be a lot in it if a lot of preparation is required……….
There was a guy on here a while back who does cladding as a business who mentioned the option of cladding may not necessarily be more expensive !!!!
Sounds like you have just had a course in tenants………….
Yeah Mate
Best book I ever read was Jan Somers “White” book .
Before Xmas I was browsing around in a second hand shop and found two old board games for $10 each . One is called Solar quest and is basically monopoly with planets and rockets etc……………..We played it a few times but Kids got bored with it .
The other one is called Rat Race and is quite a good game although very out dated . I think it was produced in the 1970’s….
My lot are 12 10 and 7 . I reckon my 7 year old knows more about money than what i did when i left school in 1983 !!
Hi Jenny
Have you considered selling the property yourself ? There are quite a few resources available now to help you .
Personally I’d be very reluctant to to pay much for advertising .
A good agent that got you the highest price might be worth their commision but there are plenty that will get you stooged……………
If only it were easier to find a reputable one eh ?
Good luck
Hi Jenny
Sorry to hear about your advertising troubles .
It happens that last week I bought a book called ‘REAL ESTATE without agents’ written by Terry Ryder . It is a very worthwhile read and can really open your eyes up to the crap that goes on with most agents
There are enough costs in property investing with out agents fees IMO .
Cost me $32 ….the best money I have spent for a while .
I hate doing business with dishonest people
Good Luck .
Saving……my grandmother used to save money on the pension .
Said it was for her old age ! Bless her soul
Had a terrible time through the depression of the 30’s …..tough times i imagine ….and then another war . Melbourne was a tough place back then .
I,m a dairy farmer .
Own two farms . One milks 550 cows and another 170 . Have several propertys in local regional towns which we manage , the wife and me .
Find myself spending more and more time in the office with financial matters etc. Thats the way it is …..when you have CASH COWS …
PF
