Hi RussH,
You learn from people or books/tapes then do research and then ask professionals about your plans.Also with your personal judgement on situations.[wha]If anyone is to start going on the road to riches, you have to look at the option on how to be rich and even financially free.
John Burley become rich on wraps through partnerships!
I like what you are typing and also looking for people to invest with.
Cold truth is if you don’t have a good amount of money in reserve and may the banks will only let you borrow a some amount, you need to consider other option to add or become the prime source of capital.
John Burley talks about partnerships and how to make sure that there are no misunderstanding on that subject.
I keep thinking how would you go to start investing(real estate) on a less than 28k salary a year.
We have to start somewhere. It’s like the game monoply, 4 green houses and one red hotel.[worried]When it comes to salary mine is minimal.Less than 10k a year.But I am still able to pull a few deals here and there.When something is good the bank will talk.When the bank runs dry then turn elsewhere.If the deal is good others will want in.
To all the sceptics I say keep your money.To those of you who have faith I say lets talk and see how we can minimalise your risk.Then when we are all happy with a deal it can proceed.
What I am doing is no different to a company floating on the stock market.
Investors take a chance with every deal they do on the stock market.When a company floats on the stock exchange they do it to raise money to improve their business.If they are successful the price of the stock may go up and you may get a good return.However with the stock market as with managed funds you have no say as to how your money is spent.But if you invest with a private company or person then you can be part of the decision making process so you know what will be happening to your money from day 1.
Russ.[king]Apart from the ’email me for more discussion’ part I really don’t have much of an issue with what RussH was saying as far as sharing in the deal.
Many examples would exist on the ‘helping hand’ where a friend or a family member lends enough money to get a person past the minimum requirements for a deposit so they didn’t have to pay mortgage insurance. Couldn’t you for example lend a friend $5,000 on a interest rate of say 6% to get them their dream home if you think they can pay you back at least in part over the next couple of years?
Other examples would be where a group purchases a property outright with combined funds and takes an equal share in the ensueing income generated from the venture, I believe this is closer to what RussH was talking about. Still considering the example posted was about the short period of time the group had to raise capital and whether or not the group would be best-off utilising a trust fund to control these things is hard to tell for me.
It would probably work but I would find it hard to talk to a stranger about this, least of all trust them enough with funds to do so.
Trust.
This is the biggest obstacle to overcome when you deal with a stranger.How do you earn peoples trust? Until such time as a deal has been accomplished and everyone receives their share then no one knows if they can trust someone.You have to be able to prove your worth.This is where we get the catch 22.If no one trusts to do first deal then how do you show it can be done?How do you earn the trust.
Over the years people have been burnt and have become very sceptical.But wouldnt it be a better world if people started to trust again.learn to have faith in each other.Do unto others as you wish they do unto you etc.
Just because someone explores an avenue of making money by asking for financial backing doesnt automatically make that person a charlatan.
Russ.No, not at all, Russ. I agree that someone looking for JV’s is probably not a charlatan- I didn’t mean to imply such a thing. Re people being burnt, well, I have never been burnt financially, so I was not being personal about it.
Trust is a good thing, indeed. But I think you’d agree that money is incredibly important, and for those who don’t have much, it may mean the difference between no food and some food on the table. My main message was for people to choose carefully what they do with their money. I hope you’d agree with that fundamental message.
I like safeguards when dealing with money. People are asking all the time about financial planners being registered, and being worried about losing their money. That doesn’t mean they mistrust people- it’s just about due diligence.
I don’t think reminding people to exercise due caution is cynical. Nor were my messages to you trying to deny you financial success. I think we are all on here because we have an interest in investing. To me, that also means discussing the pro’s and cons of what is available to us. I know that people disagree with many things I have to say, and that’s good- I welcome it, because it means I may see a different perspective.
kay henry
I like to explore all avenues when it comes to investing.The more avenues I explore the more I learn.And the wiser I get.I am still new to this game and I will keep exploring all the different possibilities in the hope of finding the ones that suit me best.
It has taken me forty years to find something that I can be really passionate about.Yep Real estate.Now I have found something that drives me I will keep the engine running for as long as I can.There are so many different ways of doing things and you just have to open your eyes to the opportunities and not be put down or put off by the disbelievers.Believe me they are everywhere.
Someone saying you cant do this you cant do that.
They just dont like the fact that you are actually doing SOMETHING.
I enjoy trying and doing things differently.And it is interesting doing things others have done and seeing if they work.But basically for me anything goes.Give it a shot.If it dont work try something else.Sooner or later you have to get somewhere.The more people say dont do something the more I become convinced that it will be possible.
I remind everyone that “Whatever the mind of man can conceive and believe,man can achieve.
Dont ever let someone say you cant do something because if you set your heart to it you can do anything.
This post is for everyone and aimed at no-one.
Not in malice anyway.
Enjoy life guys and give everything a go.The more you do the more chance you have of getting it right.
Russ.[king]That’s sad that you feel this way, Russ:
“do not be put down or put off by the disbelievers.Believe me they are everywhere.
Someone saying you cant do this you cant do that.
They just dont like the fact that you are actually doing SOMETHING.”I think on this Board, everyone is doing SOMETHING- that’s why we’re here, right? Because we’re investors? So noone here would resent you for doing something, because we ALL are. It sounds like you’ve been very hurt in life, Russ.
kay henry
Russ,
I enjoy reading your posts, your positivity comes through.I beleive there are lots of people out there working high paid jobs with cash to spare and little money. Your offer to combine your personal time with others money seems genuine.
I like the idea of this forum being a place to join in and investigate potential real estate opportunities.
Good Stuff.[specool]
KayHenry,
Your voice of reason is a good warning to those on tight budgets with starry eyes.
I personally think that a lot of the people such a situation have a bigger problem than their tight budget. And that is the fear of taking the risks needed to create a life of abundance. [curtain]Monopoly,
You have mentioned a few times your friend who read books and went broke.
I have read “catcher in the rye”, does that mean i will kill the american president?
Horses for courses babe.
[pimp]lifexperience
Kay,
I am not being specific when I say people knock you.And I know that everyone here is out to make themselves a success in one way or another.I,m talking in general.And I hope that young people read my posts and glean something from them.There are a lot of people who read this forum but dont post their opinions.They are a big audience and hopefully some of them will read some of my ideas and go away with a different opinion on life.I know I get a lot of emails from people every week commending me for my outlook.People enjoy reading positive things and if my ideas or posts help them go away and rethink their position in life that is great.
When people see that things are possible they have a better outlook on their own situation.
So yeah when I post on here I dont target anyone here but everyone everywhere.
Russ.Originally posted by lifeX:Monopoly,
You have mentioned a few times your friend who read books and went broke.
I have read “catcher in the rye”, does that mean i will kill the american president?
Horses for courses babe.
[pimp]lifexperience
Hi LifeX,
No, I think the president can rest assured!! LOL I agree, absolutely “horses for courses” and so on. But I didn’t say he (my friend) went broke just because he read books, I was trying to highlight, that he took everything he read…literally.
Jo
Jo,
cool bananas, and that is a good point to not take things literally.I noticed your use of italics for emphasis. Try coloursthereare some niceprettyones.
Keep that passion, it livens up the forum.[sunny][jester]
lifexperience
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