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  • Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Hi Monopoly,

    im on the serious hit list…

    but an important factor… which i believe… which seperates a professional from an amateur is…

    An amatuer is all about profit…

    While a professional is also in for the profit (they know, how to make money in either a boom or bust market) but also, they know how to protect their capital, but very importantly… control and mitigate risk…

    simply saying that, you can easily identify between the 2 types of investors: amatuers and professionals

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Post Count: 1,844

    30 properties in 12 months…

    i wish i was doing that…

    but personally, 1 a month is my aim

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Post Count: 1,844

    Hey Guys,

    nothing wrong with the office chair… that was one of my very first own rewards…

    and i what i can tell you is… when i sit in my office chair… i feel the control, but also feel that i am in control of the whole situation and that i am the boss.

    also depending on your office chair, if you got one that resembles the same as a corporate executive, with all the added features and extras… you really do become and feel like a corporate executive…

    … try it, you might like it + its the best seat in the house too.

    Cheers,
    sis

    ps.. well done bbruham, i know that feeling about home office chairs… you really do feel like the big boss, but also your the one who is control of all situations.

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Hi Guys,

    personally who does it for me is:

    Robert Kiyosaki – for building the mindset
    David Novac – for investors psychology

    then its my entry & exit plans for each and every single investment, and following a set of simple rules.

    this is just a simple guide, but both effective in shares and in property.

    * Plan the trade
    * Then trade the plan
    * And stick to the Rules (this way, there is no emotion at all)

    Cheers,
    sis

    ps.. some one who is emotional about investing, will show it in there cash management skills but will also, show it in there bank balance, compared to someone who sticks to the game plan and follow the rules…

    … you will see there is, a definite difference in there bank balances and cash management skills

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Hi Guys,

    i very much agree, with the guys on credit cards, many credit cards these days allow you to purchase goods on 44 – 55 days interest free, point systems, that allow you frequent flyer points, and with some retailers even bonus points.

    i dont honestly believe in layby, and as i see it credit cards are good as cash… you can still negotiate a price, heavly or equal just as good if you were to pay cash.

    another thing too with credit cards, and depending on different lending insitutes, they allow you discounts off your variable and fixed interest rates, with different loan products… again this is a win win situation.

    also mentioned like Teacher K6, depending on your usage and amount of points acquired, credit cards can cost you very little or nothing at all.

    just out of curiosity, i much prefer mastercard than visa, due to alot of travelling i do… but for the credit card users…

    who do you think offer the best service, facilites and other excellent awards:

    a) mastercard
    b) visa
    c) bankcard
    or
    d) amex cards (like diners and american express..)

    ???

    Cheers,
    sis

    ps.. got to love thats free frequent flyer points and free flights.

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Hi Guys,

    i send jaffasoft a pm, it is very long and sounds complex the pm… (tried to go into very detail, through each point..)

    but ill break down on here and through its basics…

    * purchase +ve cashflow property [must be passive on, more than 110% finance- (though thats the bench mark, yet were going to put a cash deposit down.)]
    * property needs, to go up in value at least 25% (on $50k, property… very easy to achieve – new valu approx = $62,500)
    * a minimumal rental of at least $10 increase, only once this has to be done (so this can be done anytime and better close to the end of year)
    * minimal repayments (eg.. interest only)

    ** you want to put your money into the deal, then refinance it out later on, and get your inital capital back out again.. (if not all, get out as much as you can)
    ** use the intial passive income for the first 10 – 12 months, to purchase a holiday get away… (in our pm, we came up with a figure of around $1000 – $1200 created in passive income)
    ** now either with the refinanced money, or a simple topup loan, (getting access back to our original capital) use that as part cash deposit for cheap but new car (in our pm, we were able to purchase a new car, up to the value of $15k)
    ** but instead, of tying up money to purchase new car, lets just use the passive income, that would equate and cover weekly repayments of the new debt, by our new founded passive income. (this protects our orginal capital, and gives us ease and access back to it)
    ** because we did not tie our capital into a new car, but use passive income to pay against the new weekly repayments, we can simply just access our capital at any time.
    ** as for new tax benefits and tax reductions, its simply just due because, we purchase an ip (flexible in its way, as it reduces, tax and taxable thresholds.)

    sorry guys, not to get into each step, but its complex… and to much detail has to be written for each step… (and i dont want to simply just hand out how you do it, but let you guys, think creatively and work out how else you can do it)

    but all were simply doing is channelling money…

    in the pm with jaffasoft.. we were able to do more (increase our cashflow by even further, and while at the same time have $2,500 always at hand and at our disposal, in our case… we never used the whole $10k)

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
    Join Date: 2003
    Post Count: 1,844
    Profile photo of Still in SchoolStill in School
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    @still-in-school
    Join Date: 2003
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    Hi Chan$,

    however your keeping your call costs down, please share… my fone bill is getting ridiculous now…

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Originally posted by Pelicaninvestments:

    Pity that we have such lousy choices…..

    Is it going to be another term of the Devil you know, versus the devil we dont ???

    ha.. this Mark Latham is too much of socialist, if he gets into power.. this property game is over…

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Hi Redwing,

    i quite agree with the guys above, my ppor, which is currnetly rented out, is gaining and collecting as many tax deductions and benefits, once there is enough cashflow, to cover weekly repayments, will be moving into it directly,

    …now its a choice of either using the equity in it or setting up a line of credit against it, to then fund and purchase another ip.

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Hi lilman,

    to be honest, i have many diplomas (a real lot to be honest), last year i started my degree and dropped out, how i saw the world from my perspective was, that i dont need a degree for a couple extra bucks, and if i was to get a few extra bucks it would all go to hecs, so in actually fact, i would just break out even, or maybe worst, if i couldnt get the job description my degree was suppose to lead me to.

    to be honest, i would just work fulltime, and get a part time study and live at home with your parents, you can save heaps quicker and invest at a much faster rate than the rest of the guys your age, who are either studying fulltime, and working parttime.

    and yes, depending on your investments, they can be making money for you, from day one, allowing less comitment to your job, from an early stage.

    another thing to is, most people who know me on the forum, can tell you i work a sh*t job and that i am still in school, but its what i do, with the money, that amazes people and how quickly you can multiple over night, and another thing to is, that, i no longer want a degree for another reason, if i want to know something and need the advice from a professional – that is what i pay them for, not for my self to go out there and study and then waste another 3 years or more of my life.

    another thing to is, my 16 year old brother has just dropped out of school, and only finished year 10, he is honestly not worried about a degree but instead of going on to year 11 and 12, has jumped the queue and is going to tafe, doing the subjects he just wants to learn, while at the same time, he is learning and trading the share market.

    what i can guarantee you is, if he was to follow, what most people do, by going on finishing year 12 getting a degree and then getting a secured job, he would be no where near as financial educated as he is at his young age now and more well equiped than his buddies.

    uni doesnt promise a job, and quite honest its to much theory vs not much practical learnt, any extra pay you get, from your job when you finish uni, aint going to be going to you direct… it will go off to your hecs, and you will just break at even like the most of us.

    to be honest, just learn to invest, get a profession, but remember a profession does not require a degree, and enjoy it, and break the rules every once in a while.

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Hi Guys,

    theres a number of things you can do with $10k, as a big fan of offset accounts, whether im not sure, or if the money is not needed quite yet, i just let it sit there, but as for talking for a holiday, just redraw that money against a line of credit and increase the rental according to how much your weekly (monthly) repayments are, so that at the same time you decrease, non-deductible debt, but also you get a free holiday at your tenants expense, and then later down the track, when you are ready, draw your $10k out and invest into an asset that will out grow profits via capital gains, or through high yielding assets (while at the same time, they are quality assets.)

    Cheers,
    sis

    ps.. if i had the $10k, to be honest, i believe i could purchase a property, buy a nice car, get a holiday, increase my taxable deductions and still get my $10k back again with in just after a year. (and thats with $10k alone… (this may sound a little complex, but all you doing is channeling money and moving it around so quick.))

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
    Join Date: 2003
    Post Count: 1,844
    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Hi Guys,

    though i will admit, cashflow 202 is more of a challenge, but better to be played with 3 people, playing cashflow 101, after a while does get a little boring…

    though like noted, to play cashflow 202, you need to purchase cashflow 101. (game components are used from the first version).

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Hi Guys,

    i quite agree, if i am also looking for the service of a Mortgage Broker, i will be using and referring to the Guys on this forum, who have contributed and have shown a history of contribution, but also, contribute to the forum in a way, such as sharing general knowledge and appreciated professional advice.

    Keep up the Good Work Team!

    Cheers,
    sis

    ps.. i dont know who is Leonie, but i have never seen any of her post yet… Posting for me, and being able to read the post from a particular contributor, shows me how reputable they are and their history of professional performance.

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Hi JamesR,

    If you have the opportunity, purchase the Ultimate Pack from Rich Dad Poor Dad, its a claimable expense on your tax return.

    do have all 3, but will admit it does get pretty boring, once you play the game in real life, ive heard the e-game version is much more enjoyable, as you play against people across the globe, and is much quicker.. than to constantly keep changing your balance sheet.

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Hi Monopoly,

    do have written plans and goals…
    but rather than plan… i just go out and do it.

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Post Count: 1,844
    Profile photo of Still in SchoolStill in School
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    Hi Newgen,

    sorry, i didn’t mean it to be a bad thing, statistics show, that 93% of people have been a tenant, at one time or another.

    The topic only came to mind, remember a part in Steves book, where he mentions, about a particular guy, who was a tenant, but would shoot out the light globes, with a sling shot or slug gun and who would fixs his motor bike inside the house.

    Like Monopoly’s story, i shared a place with some friends, the worst part was, dividing up the rent, to what we thought was equal share.. and then finding one of your mates.. going through you food in a fridge that you all shared.

    grrr… thats right.. there was always, that mate, that couldnt come up each week with their share of the rent, or went through everyones share in the fridge.

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of Still in SchoolStill in School
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    Hi Pisces,

    i believe money, can be made in any market, but i honestly dont like to caculate on fundametals…

    … just like the share market… either it be a bull or bear market, money can still be made…

    … its what strategy you use… the entry and exit plan, you devisage before entering and structuring the deal.

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

Viewing 20 posts - 221 through 240 (of 1,780 total)