Hey guys im new to this forum and am just staring on my way to financial freedom. Has anyone read John Burley’s book Australia’s Moeny Secrets of the Rich? Just want to know what you think, and whether anyone has found a mutual fund for 1500 startup that makes 12% or more after all fees. Also if you have a copy i noticed Steve Mcknight has a comment in the front about how he purchased 40 properties in just 11 months. Hop this year brings many successes for all.
Josh
I have got the book, have read it 3 times.
Great book – every high school student should have to read it as part of their curriculum in my opinion (and a lot of adults as well).
I don’t own any mutual funds – I love property (have a few shares that I sourced my self).Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Yes .. there are plenty of mutual/managed funds in australia that will make 12+ percent easily … the average australian property fund should have a net return of approximately 15%+ or more based on the last 10 years or so. at many will allow you to start with a $1000 investment.
I recommend joining investsmart.com.au or comsec.com.au they will rebate any entry fee and investsmart will actually split there commission incomes with you .. now that’s an awesome deal ..
Hi Josh,
I purchased the book back in 2000 and have read it a few times since (great book). He does talk about property but not into too much depth, but you know if you can get one good idea out of a book it’s been a worth while purchase.
From his book I setup up a automatic investment program and this little sleeper is over 70k with just a startup of 5k, & has been getting over 12% easy . Look for one with low entry and management fees and follows the benchmark.
His other tips about saving money are gold and as he says ‘its not about how much you make but how much money you keep’. cheers[rambo2]
Peter Williams
http://www.landsurveyor.net.auOriginally posted by wwsurvey:Hi Josh,
I purchased the book back in 2000 and have read it a few times since (great book). He does talk about property but not into too much depth, but you know if you can get one good idea out of a book it’s been a worth while purchase.
From his book I setup up a automatic investment program and this little sleeper is over 70k with just a startup of 5k, & has been getting over 12% easy . Look for one with low entry and management fees and follows the benchmark.
His other tips about saving money are gold and as he says ‘its not about how much you make but how much money you keep’. cheers[rambo2]
Peter Williams
http://www.landsurveyor.net.auAgreed,
Its not so much “what you earn….but, what you do with what you earn”.
“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating CalculatorsWow, it has been a longtime since I posted this… Still have to say that I don't have an AIP (as I'm a student and have had next to no money all year, studying entrepreneurship), but I am learning, increasing my savings account and working with a team in one of my lecturer's many businesses, which is allowing me to get great experience and also to get some mentoring. Also writing a business plan with some classmates for a web 2.0 business we are looking at developing. So not much on the go with property at the moment but a lot in relation to business, saving, leveraging my time and money (work 2 days a week as a general manager, usually from home), practicing financial spreadsheets, developing business systems and much, much more.
Will have to put the occasional post up somewhere to keep myself accountable and on track.
Take care everyone!
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