Hey everyone !
im currently studying eco & finance at Rmit (city) and i even tried cheking if Steve still lectured there but the records say he doesn’t.
well i just finished reading his book and am very interested in positive gearing however as im a student and have 0 income right now i find it EXTREMELY difficult and risky to take any risks now. am i right to say that?
i was just wondering what else can i do from until the time i do start work to raise my finances??
does anyone have any ideas?
i liked the concept of a “bird-dog” but how can i go about becoming one ? hehehe should provide with lots of experience.thanks everyone, anyone in my same position ??
If you find it risky to take risks, then don’t. Just keep saving what you can, and plan your strategy for when you graduate and start working.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Probably the best thing you could do is to increase your knowledge and understandings of the property market. This will serve you well when you do have the money to get started.
Save cash and gain knowledge until you are able to do something. Then start out small, so the risk is not huge. You can still find opportunities for under $100k.
Good luck
JJthanks for the replies guys, im now currently reading the second book from steve and am interested in attending one of the seminars to get as much knowledge as i can.
about the fact that i can work to try to find opportunities for someone else… How does that work ?the concept of Time Rich – Money Poor (me) joining with someone who is Time Poor – Money Rich, is that a common thing or very rare ?
Rare.
I could suggest a number of ways to increase your income but they are not legal – ha ha ha
Speak with Mogage Man, he is nothing but a fountain of knowledge, follow his postings and ask as many questions as posible. The people here are really friedly and experienced. You will learn lots from just reading..
Cheers
Hi,
It’s been a few years now since I lectured at RMIT on a sessional basis… and I was more in accounting than Eco/Finance. Still, there’s a few people around that would remember my name.
In terms of where to get started – I think Terry’s comments about having some sort of saving plan organised, together with G7’s post about education is good advise.
In many ways you have to mature in your thinking so that you are ready when the right opportunity comes along. For example, in my case, to work out what I didn’t want to do (i.e. accounting) I first had to try it.
In fact, I believe that it’s necessary to reach a low point from which you promise yourself you’ll never return in order to create the motivation to keep going when the situation becomes tough.
Practically then, have a go at working out a five-year plan that pinpoints:
1. What work experience you want to have gained
2. How much money you want to have saved
3. What education you want to have mastered
4. Which people networks you want to have established
5. What life experiences you want to have enjoyedFinally, don’t let age stop you from having a red hot go. If you want it bad enough you will be able to find a (legal) way to achieve your goals.
Regards,
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
I might be able to relate to you a bit as I am in the same situation.
I’m a uni student at Melbourne University and I know how you feel when it comes to having little or no income to survive. Having said that, what I have done while I was at uni was similiar to what Steve has advised you and I would agree with him. Read and learn heaps, and develop core skills so you’ll know how to deal with people, manage people, time management, negotiation skills organizational skills, leadership skills etc…
(I’ve done plenty of volunteer work, group projects, started my own company with 2 business partners and worked for a while as a salesman in addition to taking subjects that would be useful in real life) and they have all added to my experience and knowledge as a whole. Just to let you know, I have learnt the most from running a company than any other thing that I have done so that might be something to consider.
In terms of finance… it is extrememly difficult for banks to lend us money so just save and work (either in a job or in your own business) until you graduate. That would be the best way for you to accumulate some wealth for the time being.
Risks… I was surprised by what you said. Being young is the time to take risks! It’s not like you’re 50 and have a wife, kids and a mortgage to consider. If you see an opportunity, go for it and if you go bust, well you have a lot of time to recover and the experience you will gain in the process will be invaluable.
And finally, (I might get flamed for this lol), DO enjoy your life at uni, don’t spend all your time researching about property and simply neglect everything else. We’re still young so it is alright to spend a bit. Univeristy life is short and sweet so remember to socialise, party hard and have fun in between!
Hope that helps
Martin
PS
I almost forgot… NETWORK NETWORK NETWORK!!!Hi
We are very fortunate to be able to access a site where we can gain wisdom through others’ experiences. From my own perspective both as a student in a similar position to yours in the past and now in professional life I can’t emphasise enough that you must have a plan with written goals, and I fully concur with Chewy – have fun at uni and enjoy while you are doing the other essential things such as learning etc.
Some say that in any business one should make money, have fun and make a difference.Networking is the crux of any business, including investing.
The other thing that is critical is to have an open mind and explore all the pathways that will take you to your ultimate goal – or if the pathway isn’t there yet make your own lol.
Starting your own business while you are studying may be feasible depending on your schedule and if you keep an open mind you will find ways.
Finally there is risk in everything we do, the trick is how we manage that risk and how we mitigate it. There are options that could suit your situation, as I have discovered for myself.
Good luck
pr
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