Hi All,
To any WA investors out there, i’d appreciate any help in pointing me to any research tools and ideas… i’ve been looking at some country areas out of Perth ( a lot are small 5’00 t0 9’000 population0 and seeing as how the timber indusrty isn’t to hot at the moment and Kalgoolie is up and down just makes me nervous… geraldton seems to have some good buy’s
any thoughts out there no matter how silly they seem ?
Barry
PerthHi Redwing,
Have you looked at Sooshie’s links…there are a lot of great research web sites there, also someone gave me a good tip – once you have a property in mind ring the local police to check the area/street out. Not sure about Geraldton, haven’t done any research on that one yet…prices appear good on the surface though, I would check rental demand…ring agents and get their rental lists faxed to you maybe. Hope this has been of some help…..SQ
Found some great links in the sites, thanks
gee… you log off from this forum and next time you’re on its outa control..takes me ages to catch up and theres a lot of food for thought and great info out there
[8D] Kewl
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Can anyone direct me to some good research links?
Cheers,
John.
Hi SusieQ – Could you please direct me to Sooshies links page?
Many Thanks,
John.
Hi Redwing,Have you looked at Sooshie’s links…there are a lot of great research web sites there, also someone gave me a good tip – once you have a property in mind ring the local police to check the area/street out. Not sure about Geraldton, haven’t done any research on that one yet…prices appear good on the surface though, I would check rental demand…ring agents and get their rental lists faxed to you maybe. Hope this has been of some help…..SQ
Hi Redwing – could you please direct me to Sooshies links page?
Many Thanks,
John.
Found some great links in the sites, thanksgee… you log off from this forum and next time you’re on its outa control..takes me ages to catch up and theres a lot of food for thought and great info out there
[8D] Kewl
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
aussiefantail – have a look at the “Discussion Boards” main page on this site, click on Web links and you’ll find it in there.
Good luck ……sq[
]Hi Redwing,
You could check out this site:-
I’m not sure if there is any information on Geralton there, but you can purchase VGO past sales data on line there. I too have trouble finding good info on country areas, but I have found that on occasion, local real estate agents have some good info on their sites.
Cheers
Kym (Perth)
[]G Day all,
new to this,please excuse silly questions,would appreciate genuine feedback.
Would love to find more research tools,can anyone help?
Redwing check out whats going on in Hopetoun/Ravensthorpe.I am a man of 30 years who is seeking
the wisdom of a man of 50 years.
Does that make me a wishfull thinker?Hi Property,
I just posted a list of site in the previous topic (finding +ve cashflow properties)
I also just read a quote on this site that said “knowledge is a process of piling up facts – wisdom lies in their simplification” How true!!
The more you are able to break things down into their basic elements, the better your ‘insight’ will be.
Hi Kewldude: the quote about knowledge and wisdom being in simplifying facts reminded me of something in Robert Kiyosaki’s books (Rich Kid Smart Kid?) which is related. RK defined intellect (or was it knowledge) as being able to make finer and finer distinctions (think of Charles Darwin, evolution, taxonomy and periodic tables as an example).
So we see two tendencies (maybe different sides of the brain), both of which are important in due diligence.
One is the painstaking assembly of facts and trends, drawing fine distinctions, and statistical analysis. This is often quantitive and relies on much hard data.
Another is the ‘big picture’ qualitative interpretation or synthesis of what’s happening (ie the wisdom). This includes the above knowledge, but includes some intuition, can be picked up by the feel of the place and allows impressions to be formed even if statistical data is incomplete. But if you can tie the statistics up with the big picture, or use the big picture to explain why statistics are trending as they are, then that’s all the better.
I suspect that many of us after looking exhaustively at the stats think ‘this is an OK place to invest’. Once they’ve made this decision, they look more at the big picture which leads them to their ultimate choice of property (even if the return might slightly be higher elsewhere). Do you think I’m right, or am I barking up the wrong tree?
But getting back to wisdom, I would also postulate that with wisdom it should be possible to condense your financial goals and investing technique down to one paragraph or so. Though I don’t claim to be very wise, I think I’m closer to being able to do this than (say) a year ago.
Peter
Hi Peter,
Yes, I think you are right. I tend to think that a balance of intellect or fact mixed with a healthy dose of intuition or ‘gut feeling’ is the way to go. I generally find that most people (myself included – although I try really hard not too [xx(]) tend to distort the facts based upon their attitudes &/or beliefs when making decissions. ie: they let their emotions get in the way. This happens with every decission – investment or not!!
I recently attended a series of management workshops. The usual hum-dum type stuff. One particular day we were working with visions / goals and the distinction between the two. Anyway, to cut a long story short, I was openly & honestly discussing my goals & what I ‘thought’ was my vision with regard to property investment with a participant in the course. I told her that it was my ‘vision’ to aquire ‘x’ number of properties in ‘x’ number of years totalling ‘x’ number of $$ etc. She then asked me why I wanted to do that. I replied, what ever I feel like when I get there. For expample, I might want to buy a yacht and sail around Australia, or I might not. I may want to spend my days doing volunteer work, donating money to charity, or it may be someting else. I’ll decide once I get there.
She then said something to me which I found very inspiring, and I’m sure I will be thanking her for many years to come.She said:-
To aquire ‘x’ number of properties in ‘x’ number of years totalling ‘x’ number of $$ etc, that is not your vision, that is your goal that you can work on to achieve your vision.
What your real vision is can be summed up in two words – oppurtunity & freedom.Again, something complex simplified into it’s basic form. That simple discussion, allowed me to clarify even further the direction in which im heading. And the more you can clarify something, (I believe) the greater chances of sucess.
So, yes i agree, that “with wisdom it should be possible to condense your financial goals and investing technique down to one paragraph or so.”
Cheers
Kym []Hi Kym – I agree it’s opportunity and freedom, which basically boils down to ‘time and money’.
But there needs to be some other element so that you don’t fritter away time as is so easy to do. If you do, you might as well be working and spending!
Every 6 months I produce a statement on the progress of my investments. 2 years ago the aim at the top of it read ‘Capital gain consistent with acceptable risk obtained though maintenance of a diversified portfolio funded by continued high savings and returns on investments.’
I realised that yes I was progressing nicely, but I really wanted financial independence. After years of saving/investing nearly 90% of income came from my job. I realised that the aim should be to more rapidly replace this with passive income, and a new aim was needed.
A few months ago this changed to ‘Financial independence by age 40 obtained through the establishment of a growing portfolio of diversified income producing investments fuelled by continued high personal savings’.
Though the investment vehicles are not mentioned, these two approaches required a readjustment of the portfolio to achieve them. In my case it included adding high-yielding property and the use of leverage alongside the existing savings and share investing plan.
No doubt my strategy will change in the future, but it will be a slow change that builds on the past rather than tearing it up and starting again.
Peter
Hi Peter,
Again, I agree entirely, you need carefully laid out plans of action that help you reach your goals. This in turn leads you to your vision. I found it easier to start with the vision and work backwards when defining my goals & then the plans seemed to automatically follow.
I do also agree that goals should be reviewed every 6 months or so to ensure they are still relevant and in line with your current way of thinking. When you’re constantly learning and acquiring new information, sometimes the goal actually changes along the way.
I think everyone at some point in their lives has wandered (or has deliberately run) down a path, only to find that when they get half way there, it wasn’t the direction they actually wanted to take. Still, myself personally, I’d rather be in this position, than sitting at home in the armchair infront of the telly!!
Cheers
Kym
[]Kym – Steven Covey says ‘begin with the end in mind’.
I must admit that I have not been very good at this. I have tended to draft a vision a bit after my first actions. I have a rough idea of what I want to do, but often this is not fully articulated until later. Also until one starts and realise what one can do, you might dismiss a particular vision as fanciful thinking.
As you say going half way down one path is better than going down none at all. I was fortunate that my first path was not too inconsistent with my second. Also I found the first path was good preparation for the second. Indeed I don’t think I would have been able to start the second had I not embarked on the first. (learn to walk before you can run).
Peter
Hi Peter,
On the other side of that, there is the person who tends to get a little too caught up in the planning of things, and delays in taking action. (well Geez! That statement has me, me, me written all over it!!![xx(]) I tend to get caught up in formulating the ‘perfect’ plan, only to read another book or article that makes me re-think my entire strategy. Currently in re-hab to try and break the habit!!
Oh! If only we were all perfect we wouldn’t have all of these annoying little problems.
Cheers
KymKewl Dude
or Dudette ?
“knowledge is not power-APPLIED knowledge is power”[
]back to my original post..is there many WA investors out there, i’ve come across a few, but feel most of the traffic is over east, would love to converse with like minded people over here [^]
redwing
[email protected]“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Hi Redwing,
It’s Kewl Dudette, but that just doesn’t have the same ‘ring’ to it!!
Most of the folks in here are from over east, I would speculate that is because Steve probably hasn’t done much work over here (if any).
I think it was DaisyGirl? who organised an outing in Melbourne at a coffee shop for people who were interested, maybe we should do the same?
Cheers
Kym
[8D]
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