Hi,
I couldn’t let this day pass without a formal recognition that it is d-day for the Bradley McKnight Empire.
Dave and I began back in Jan 1999 when we joined forces to start an accounting practice. Soon disenchanted, by April 1999 I’d begun looking for other ways to earn a quid and saw property investing as a possibility.
In May 1999 we acquired our first property in West Wendouree (Ballarat) for the modest sum of $44,000.
Around the same time we made a goal: $500,000 per annum in passive income by 9 May 2004.
At the time of making this goal May 2004 sounded a long way off… Nevertheless we stuck the goal in various places around our office to constantly remind ourselves of the financial ‘peg in the sand’ that we were aiming for.
The years have passed and Dave and I have gone through many transitions, least of all away from accounting and into full time investing and infopreneuring.
Our walk away from accounting was recently completed when Dave sold the accounting practice.
I’m reminded today, my 32nd birthday, that despite all the hard times (and there have and continue to be many of them!), it’s been an extremely challenging yet rewarding journey.
So, a word of encouragement for all you out there in property investing land… DON’T let the dream stealers tell you that achieving your dreams is an impossible pursuit. If you want it badly enough then you are sure to succeed.
I’m looking back with some fondness, but I look forward to tomorrow with eager anticipation. Dave and I are turning now our attention to making a big difference for others.
The future is indeed exciting!
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Dear Steve and Dave,
Firstly, congratulations on achieving one of your several goals that you have with many more to come no doubt. I may be a little out on the timeing, but also a very happy Mother’s Day to Julie and Dave’s wife. Since I first attended your March seminar (with the aim of staying and getting a refund at morning tea so I could go back home to bed to nurse my flu at the time) I’m still yet to purchase a cashflow + property. However it’s not June 13th yet either. This resource website has enabled me to network and find an excellent broker, refinance two investment properties I owned prior to the seminar to a much cheaper interest rate and as a result they are now I’m happy to say both cf+ as well! Most importantly it’s catapaulted me out of my hibernation of four years and I think I’ve spent more time since the seminar actively thinking and researching in investment property while learning more along the way, than I have than ever before. Most importantly it has made me more resolved to reach my personal goal (the whole investing thing is just a means to an end to get there). By now, a one day seminar would have been like a suntan and faded within a week. Well I’m still here. Good luck and here’s to the future!
Many thanks,
Gatsby.Steve,
First of all Happy Birthday! Also, congratulations on doing something you love. I know you hated accounting, so it’s good you’ve moved into an area that you’re passionate about :o) Everyone deserves to do something they enjoy in life.
Hope you had a happy birthday
kay henry
Steve, congratulations and happy birthday.
You have given me a lot of hope and motivation.
I have only recently read your book and found it excellent. Up until now I have been seduced by the -ve gearing stategy and am now more than convinced that +ve cf is the go.
I have 2 -ve cf ip’s in perth and 1 +ve cf ip in tas. I am currently negotiating on an ip for 190k
returning 350 pw which I am intending to purchase in my wifes name as my income is 100k+. I have also been looking at cf +ve ip’s on the internet and have a goal to replace my employment income tho’ I’m yet to establish a time frame.
I’ve just ordered fasttrack and am looking seriously at the wrappack.
Questions :- how do u get around wrapping being illegal in wa?
If looking at ip’s interstate how do you conduct due diligence with time and distance hurdles?
Plenty more to say and ask but I’ll leave it there.
Regardswatchful
Congratulations Steve and Dave. It’s always a euphoric feeling of setting and reaching a goal. Whether it’s exercising 3 times per week or becomeing filthy rich, it’s just awesome.
Where are you headed in the next 5? Write some more mate and change lives, Kiyosaki’s sold 18 million worldwide, you’re a champion![thumbsupanim]Hi Steve
First up, Happy Birthday mate. I hope you have a great day.Secondly, I’ve only just read your book in the last month, and am now looking around to buy my first IP (there’s plenty still around which are -CF, but that’s not where I’m looking in terms of my finaicial goals).
Your book has been an absolute inspiration for me in that I can see that I DON’T have to spend the remainder of my life working for someone else (albeit, I love the job I’m in, and it pays well), and no matter how late I’ve left my run (I’m 35 now), I can still achieve my goals in a timeframe which will have me free to spend time with my family.Thank you!!
[thumbsupanim]King regards,
CraigOriginally posted by SteveMcKnight:Around the same time we made a goal: $500,000 per annum in passive income by 9 May 2004.
So did you reach the 500K passive income target? You neglected to clarify this.
BTW Hope you had a happy birthday [biggrin]
Jo
Hi Steve
Thanks for the encouragement.
One thing though did you achieve that goal?
I presume so as you probably wouldn’t advertise it if you didn’t, but you didn’t say so.
Thanks again and I will also be there in the next 5 years.
MarkHappy Birthday Steve and congratulations to you both for your milestone.
It’s nice to have such a sizeable passive income and now perhaps, more time to spend doing the things you want to rather than have to.
I hope you managed to lock in the interest rates on some of your mortgages. It’s amazing what a 1% change can do to your passive income.
May you have and continue to have many more successful ventures.
All the best
JeffGuess some people just don’t read all the posts, before they add their bit.
Steve hasn’t answered the question yet, but in the interim….does anyone in here know……if Mr McKnight has reached his goal (by 9th May 2004) of 500K passive income per year????
I, for one, would love to know. [hmm][hmm]Jo
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