Hi everyone,
I was just wondering – after reading some of the recent posts on this forum, I’d imagine some people are perhaps feeling a bit disillusioned as to the nature of this site.
Well I’d like to put in my 2 cents worth to come to the site’s defence! My belief is that this is an excellent forum, and we are very fortunate to have this great resource available to us FOR FREE!
Unfortunately, because it’s anonymous and anyone can login (which is also actually one of the forum’s great strengths in my opinion!) we sometimes get some “loose cannons” who come in here and sprout off without actually contributing anything. I think that we just need to ride these kinds of people out. Eventually they will get bored and leave (hopefully!). And we’ll still be here, benefiting from the wealth of knowledge and experience contributed by the regular contributors.
In the meantime, I also firmly believe that NO ONE is responsible for your financial situation except YOU (with the odd exception due to tragic or unforeseen circumstances of course). But certainly no one else but you is responsible for your FUTURE situation!
Of course, we are all encouraged to ask questions and request advice and assistance (and I have been fortunate enough to have found the most generous and knowledgeable mentor I could ever imagine!), but at the end of the day, it is YOUR responsibility to get out there and pound the pavement and look for and find the deals. No one else will do that for you (not for free anyway). If you want to get started, you have to get started! To borrow from Steve – for things to change, first things must change.
So don’t sit back and rely on someone else to do the work for you, except if you’re prepared to pay good money for that service (and that’s certainly an option if you’re in that particular position in life). At the end of the day, the best way for you to learn about PI is to go out and do it yourself. As the old saying goes – “give a man a fish and you feed him for a day, but teach him how to fish and you feed him for life.” So I would suggest that you get out there and teach yourself how to fish, rather than buying the fish every time!
In the meantime, we are all SO fortunate to have access to this FREE resource – if we can just put up with the occasional irritation, the rewards will far outweigh them!
Okay – I do hope that this post has perhaps taken away some of that disillusionment that some people are feeling at the moment, and reminded us all just how lucky we are, and hopefully encouraged us to get out there and get stuck in!
All the best,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]I totally agree! (Maybe I am a bit biased…[inlove])
I think this forum is a great resource and that many of the long standing members put hours of their OWN time into helping others. In fact, for some of the seasoned contributors, they probably do not gain much from the forum except the satisfaction in helping others.
I know first hand that Steve has the philosophy to do something good for someone each day…I was the recipient of his random kindness during a Webinar and I think his example runs through this wonderful forum. Thank you Steve for setting an example of kindness to fellow investors, not intimidation!
So a BIG thanks to all of you members that offer help, stories, and encouragement to all of us that have alot to learn from you!!
mapleleaf
Achieve the Dream!
I am almost 50, and rejuvenated myself after being retrenched 6 yrs ago, and being left almost penniless by the experience.
I created a new career for myself, and run a business (as an employee) which has an income of approx $15m per yr after 18 months work.
I am looking to work just as hard for myself over the next 5-10 yrs to ensure I actually can enjoy my planned semi retirement after that time.
My wife and managed to raise 4 kids on one income, so now they are gone, we expect to use this money for US. We are now both working.
I have spent the last 3 weeks on research, and expect that another 2-3 months are needed before we leap off the page, and strike our first deal.
In that time I have learned a number of things.
1. We already have enough income to invest- maybe it has not been used wisely so far.
2. We can invest without risking everything.
3. We can learn from others, and won’t know it all for a long time, if ever.I am an optimist – I live with chronic pain after a number of motorcycle injuries, but can still be happy.
I fervently want to believe that it is possible to succeed- if we keep our eyes open, ears open, and treat investing like we would any other employment opportunity. -ie.If we put nothing in, we get nothing out! Work hard – and get the rewards.
I am in need of some moral assistance, and encouragement. I expect that if I do my sums, and keep looking for the opportunities, they will happen. We are prepared to remain in stasis until a ‘correct’ opportunity comes up.
Tell me that it is true!.
everyone?hey, if you do the work, it does happen.
Since the last post, have bought 2 units, and await the future with a big smile.
[biggrin]
I fervently want to believe that it is possible to succeed- if we keep our eyes open, ears open, and treat investing like we would any other employment opportunity. -ie.If we put nothing in, we get nothing out! Work hard – and get the rewards.well said – and good to see some positive comment.
I just wanted to add that it does get easier as you go.
cheers
I Buy Property http://www.cashflowproperties.co.nz
…. it really can happen but you have to be vigilant and see the opportunities – they are not always there for you to see in the beginning.
Sometimes it means looking further into the deal to see if you can make it better – sometimes it is just plain hard to see how that can happen. A few weeks ago we finally found a block of units and after some due diligence and a lot of question asking we found out that the owner had not increased rent for a very long time and the flats are tired and in need of some renovations……we had to do some serious leg work to make this deal into a CF+ but it was worth all the field trips and research…..and the many hours seeing what our options would be and what it would cost. We will hopefully settle in around 30 days then start the renos – then put the rents up in line with market rents and what do you know – CF+ properties!! On first sight these were negatively geared properties but we are turning them in to CF+ – as the opportunity was there all along for that but the owner was not interested! It pays to do your research – you may be surprised what you find out.
…. it didnt just happen – we made it happen and you can too, so – never give up hope – if your awake to making it happen then it just may be around the corner for you too……even when it looks unliekly – do your sums and research as it may be that your find is valuable after all – good luck! [exhappy]
Lee
You gotta have a goal. We have just moved our goal from retiring in five years down to three. Why? Because we are not keen on working increasingly stressful jobs. We are visioning WOT time. That’s Work Option Time when we can choose when and who to work for instead of breaking my back picking chestnuts and apples.
So how are we going to do it? By exposing ourselves more to the market by purchasing more IPs of varying types in various locations.
But there is no free lunch. Everyday we get calls from property managers about repairs, tenants etc. And then there are the bills and PM reports and loan rpeorts. Financial scheduling of rates, strata payments and then filing into individual IP files for the year’s tax, loan statements, strata business, tidying up the purchase details, ensuring insurance is up to date.
Hopefully when we retire that there will be cheaper mobile phone/GPS,email,internet,PDA, satellite/world roaming gadget thingy available!
YOU CAN DO IT!Hi all,I just joined this forum.
I wonder if someone could help me with my query? It’s not your usual property Q.Any way here goes.
I am thinking of buying a caravan + fixed annex in a caravan park to rent out (that’s all I can afford)
Is it something that I can look forward to in terms of equity like dwellings or is it a no go zone in properyt investing?
Any help is appreciated.
thanks
[smiling]Hi Searcher,
There is a Search function on this forum – look under “Forums” at the top of the page, hover the mouse over it and you will get a drop down box. Click on Search. Then do a search for “caravans” and you will see a lot of topics asking similar questions to yours.
I hope that helps!
Cheers,
Adam
PS. Great to hear some great inspiring stories here – well done guys!
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Yay someone answered.[exhappy]
Thought no one wanted to answer as it was ‘caravan’Thanks Adam! Shall do what you suggested.
Adam – good things happen to those who DO.
Settled this week on the first 2 properties – although scared witless, think I have followed all advice, and covered all the bases.
Settled on the friday, and tenants moved in on Saturday! on 12 month leases at a good rent.
Now if I could fast forward to 10 yrs from now and see how it pans out!My advice – don’t be a gunna 0 gunna do this – gunna do that
Pick your mark. research is the vital step. you can bite off more than you can chew, but… beware!!!!
Open eyes are your best protection. Then you get to the good bits!
Hi all. Just started on the site, so still exploring. However great to see so many positive comments, helpful advice etc. Thank you.
Searcher, I hear caravans are holding their value. But would a bank be able to sell your asset quickly for a fire sale? I think not thus understanding equity growth also equates to equity realisation. Equity realisation in worst case scenario is bank fire sale. So I believe the answer is NO for the caravan & annex.
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