An important distinction…

I’d say it means;
do what you love and do it to the best of your ability, then rewards will follow []

Hi all,

I think it is a balance of both, you have to love what you do to be good at it. The reward is of course financial, as matter of course we would all like to be financialy independent.

I personally learned that good people, lead to good experiences in the market, thus you tend to want to become more involved, in tern passionate, and ultimately successful.

Just a rookies 2 cents.

quote:

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You need to be passionate about property – rather than passionate about making money.

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A couple of years ago I saw a news grab of a well known (read – loved & hated) Melbourne business figure leaving court after successfully defending himself against some business related charges.

As he came down the front steps of the courthouse, a TV reporter launched at him with a cheap shot, asking “Mr.______, with this court case out of the way, I suppose now it’s back to making money?”

Now my opinion of this man is neither here nor there, but his reply impressed me.

“No, now it’s back to solving problems, the money is just a by-product”

Chris B
http://www.tradingsecrets.com.au

To me, money can be lost in so many ways, but it can be gained in more ways. I’ve flirted with the idea of making money in many vehicle strucures, but I believe you should choose something you love to do (as long as it’s a way to reach your goals) and be the best _____________ you can be!

I love property and people, and it wasn’t till recently that I developed a skill of number crunching that rewards are following.

As the American army put it “Be all you can be”

Always set your goals further than you can reach
– Then stretch that little bit further

Congratulations Felicity Hope you do dozens more.

Enjoy
AD [:0)]

“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, Odes

The fact that Steve uses the word “passionate” really sums up one of the most important points about property for me.

For example, as most of us know, profits can be made many, many ways however read up on making money in paper assets and it won’t be long befor you come across the standard advice of “Know your system. Stick to trading your system. Don’t get emotionally involved.” Do people make profits this way? Of course they do. Is this a philosophy I *personally* would choose to follow? Nope! But that’s just my personality!

That Steve talks about being *passionate* about property, for me, illustrates what I love about REI in general. That it is not an academic system of “just following the rules”. It rewards people who think *outside* the box. Why do wrappers do well? Because banks exclude people who fit outside their rules. Why do renovators do well? Because they can see a beautiful house hidden underneath the exterior where no one else has. Why do any kind of property investors do well? Because they have looked for a problem that isn’t being solved, looked for a solution outside the norm and *provided* it.

I’d say that this is the biggest challenge that we face, too. After all – we all want to know how to be more successful. But there’s only so much relevant advice you can get on how to be more creative (and thus different) with your deals than everyone else when your suggestions are coming from everyone else!

Thankfully, some have more experience and knowledge of the more obscure methods that we can learn to add extra strings to our bow. In this respect Steve fits the bill as a mentor very nicely!

Thanks Steve!

Quasimodo

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We are all but half formed images of our true potential.
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Excuse me for being the cynic but I get more than a little bemused by suggestions that making money isnt a big factor in real estate investment.

Come on now!

It’s like all these people who say that money isnt one of the most important things about their job, but the boss doesnt grant that expected pay rise and all hell breaks loose. You see this every day.

I would almost go as far to say that it is firstly about the money, and providing that you are a moral person, the benefits to others are the icing on the cake.

If you are all about helping people then raise money for charity. Put all your efforts in to that.

If, on the other hand, Steve is suggesting that you must have a genuine interest in property to make it work, then I agree with him. You MUST be passionate about what you do to be a success.

Is it all about making money?

Well, let’s ask a question? Why would you want the money? Do you really want pieces of plastic with pictures of dead people on them? Personally I don’t! What I *would* like is the power to influence my world in the ways that make it better for both myself and others to live in, and, co-incidentally money happens to help me do that. Money just happens to be able to let me spend more time giving to my family and community. It happens to give me more freedom to do fun stuff! It gives me the ability to choose the things I am *passionate* about in life. You could give the same money to someone who’s goal was just to accumulate money. They, too would reach their goal, but who do you think would have been given a better quality of life when they got there?

As to the charity example, the Rockerfeller Foundation gives away millions each year to help unfortunate families. Whatever you think of Rockerfeller as a person, who would argue that he would have contributed a greater social good by giving a few hours to the local charity than by establishing his foundation that helps hundreds years after his death?

Quasimodo

PS 10 Point’s for being prepared to honestly express your questions, where the easiest answer would have been to go with an unthinking socially acceptable answer. Much appreciated!

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Funny how action has a way of answering all of our fearful questions…
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