Forum Replies Created
Hi Hugo
Agree with DD. Most (not all) are very restricted to what they are allowed to offer. My suggestion would be to try three different ones, (you can often get the first vist free) and discuss what they offer and how they would go about it. Make your decision as to whether you want to use a planner after that or not. I actually started an FP course and became so disillusioned that I threw it in after the second semester. That could have been me though. As my brother told me “they are only salepeople doing a sales job and you have never wanted to do sales”.Another minstral/dreamer here.
Thanks for the site Redwing.Hi
I thought I would have a go following Jo’s instructions to see if it would work for me. It did. There may be a glitch somewhere in your profile. Suggest you contact Admin and see if they can fix it.
Have fun choosing one.
[biggrin]Calder
East Malvern, the part formerly known as Chadstone. (And the shopping centre is close too.)
Cheers
CalderMichael
I had the same situation when I mentioned Derivex. What it wrong with it? No one gives interest free loans, etc, etc. Trusts are something else I can’t talk about. I have to mention a new opportunity a few times, let it sit, and in about 6 to 12 months, it seems to be OK. Sometimes the subject is brought up before I bring it up again.Dazzling
I think you have to find the key to the resistance. Does your wife need to think about it for a while first? You mention you have had investment property before. Is your wife tired of property or does not want the financial worry. If she likes getting the summary, it does not sound as if she is totally disinterested, just needs something that she can get enthusiastic about. Can you make the summary more meaningful for her. Stick with it. Most of us go through something similar at various times. The important thing is not to give up.
Cheers
CalderHi Gunner10
The question is how precious are you about your properties? I used to work with someone who bought a place around the corner from where they lived. The went past it all the time (just to check on it) and continually complained about what the tenants were/were not doing. My thoughts are, if you can distance yourself, it is fine, if not, don’t. Some people can, some can’t. Just remember, it is not YOUR home. Use a PM to avoid issues, and don’t let the tenents know you own. And good luck.Hi Aussie
I agree in part. Yes, you need income in a downturn to give you the cashflow to buy the low priced assets, but jobs are not always secure at this time. I think the catch 22 is short term only, until you are able to get some passive income to give you some consistant cashflow. Like anything you need a plan to cover these times. This may include a secure job, or it may be other methods of securing income. Sometimes, having a secure!!! job can cause you to be lazy about looking around for other ways of making money (and I am a classic example).
Then again, how do you define ‘secure, well paid income’, and how much do you enjoy what you are doing. I like “our greatest assets may infact be our own ability to earn an income . To me though, this is not the same as having a ‘secure, well paid job’ unless I have created this myself.
CalderI agree with Aussierogue.
The mappers had a goal. The majority achieved this, and those that didn’t were close. What they learnt from that I am sure is so invaluable that they will never look back. Like many people, I would love to have been part of this team that achieved so much. I say well done mappers and well done Steve & Dave. The results speak for themselves. The book was great. I really enjoyed reading it, and hearing the struggles that eventually met with success. Noraml people showing that anything can be achieved if you have the will and the way. What I would love to be able to do is sit down and HEAR them all talk about it afterwards. There would be so much to learn. The fact that they are now helping others also needs to be acknowledged. I say again, well done and congrats to all involved.Resiwealth
Like your last comment. It so often seems to be so, so true.Thank you. Much appreciated. It is enough.
regards
CalderHi
Can you please explain REVERSE MORTGAGES?
Thanks
CalderI like this discussion and really like some of the replies. I agree with so much of what has been said (including macca’s and denile), but still have to add my 2c worth.
I don’t think any generation is really that different . We all like to say someone has it easier than us. All things change, but the basics are the same. We have different tools, different means to an end, different types of work, different values, etc. And different problems. (I remember trying for a $20k loan when I was in my late 20’s and getting knocked back because I was female, and did not have a partner to co-sign. It was cash for everything. And what on earth was a credit card? Yes, I am a BB.) There are different issues each generation. Currently we have high debt. This will change as people adjust to having all this credit. It wasn’t there 20 years ago. There are more people. Education is different. We have wonderful multiculturalism. And as for technology; well…. But are people any worse off or better off than the last three generations, or will the next generation be worse off? My opinion only, but I don’t think so. It will just be different. People grow and change as they learn. The current gen’s are learning differently to what we learnt – but we can still learn what they are learning. You will still have the rich, the poor, the struggling, those in a comfort zone, those in debt, those fighting to make something of themselves, those who have had wealth passed on to them from prior generations, etc.
Probably off the thread here, so I’ll go back a bit. I think debt is currently a problem, but I also think that we can over come it, and will in time. We always do. The ‘she’ll be right mate’ attitude will not go away, but education and experience generally win out in the end and we will all learn how to manage it. How many people when they got their first pay packet did not go and blow it? Some still do, but do we all? I think credit/debt, is a bit like that. Anyway, many of the people here are using debt wisely – I hope – to create an income. It’s not all doom and gloom, for any generation.
Cheers
CalderNice one.
Nice posty too.Nat R
I can’t say that I am good at any of the three skills mentioned. (Lucky we have a skilled negotiator on our team). Would you consider that different skills were needed for both buying and selling? If so, what skills and what priority would you place on each? I am curious as to what skills others would regard as important in property investing.
Cheers
CalderHi Brisbanite
I was really interested in your question as selling privately is not something I had considered seriously myself, but have looked at buying privately. If this thread gets back on track, I would be interested in some of the answers.
Everyone does things their own way. Stick to what you can live with and let others live their way.
Calder[elf]Hi Chris
I would stick with it. You are doing great. (Bad english, I know.) If your only outlay is $8 a week and you are covered by your other property, you will soon be +ve anyway. I would be happy with this situation. I think your returns are good. Feel the fear, and do it anyway (and have a drink for me). Another saying for you. Worry is interest paid on something that has not happened yet. Are we investors willing to pay interest on something we don’t have?
Regards
Calder.Hi Young Bumble
The other contributors have all given you sound advice on coping with peer pressure, so I will only comment on how we do it.
We deal with it by having separate budgets. Neither is allowed to cross over. It makes for less hassle, gives you rewards and a life, but also allows you to continue your investments. If there is only one of you, it takes a little longer, but it does add up if you stick to it. As far as dealing with peer pressure, it’s your life and remember that the decision to spend is yours. I actually save up a small amount, invest it in shares, and when it reaches my goal, spend it. The majority of my other funds go into paying off my PPOR until I need a deposit for an IP, when I draw on the PPOR. Gets my PPOR down quickly, the IP pays itself off, and I have a holiday every so often. Currently have $500 invested to get a big screen. (Is up to $1350 in two months). I can wait, and the reward is better than instant gratification because I know I have earned it and only outlayed an original $525 – incl. trading costs.
My sister does it another way as she has trouble saving. She pays extra tax and doesn’t miss it in her pay. Then once a year, she has a splurge to get it out of her system. She has her wage paid into two bank accounts (one for investing & one for everyday living) and has learnt to live this way. Any pay increases go into the investment account. If she had access to it all, she would spend it, so has worked out a way where she does not have easy access and does not know how much is in the account at any time. Budgeting is the best thing we ever started. You can have it all, just not instantly. And is 12 months too long too wait for something you really want.
Hope it helps
CalderGrowing up in country Victoria, everyone had sleepouts. A closed in verandah for extra sleeping space generally. It’s a way of creating an extra room for very little cost. Can be open with flywire etc for the windows in hot climates, or built as an extra room with boards and windows. Usually found on older buildings.
Regards
CalderRight again resiwealth. Sorry about the over-reaction. Sometimes we jump in defensively without going away and thinking or re-reading the question. Is it our (my) guilty conscience, or just insecurities?
Sometimes it is not laziness, it is just that people don’t know where to start looking. Give all the beginners a break. It’s like L plate drivers & P plate drivers. We all have to start somewhere, and sometimes we can do (ask) questions that may seem like “here we go again” to many of the forum contributors. Remember that we have made a start by joining this forum and are ASKING questions, always the first step.
