Use this area to post discussion points in respect of the March 2004 Insider.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
I agree with your analogy regarding “the comfort zone” and taking a leap of faith that you can make things happen. I had the pleasure of hearing James Daniels speak last week about his rise to fortune, (now 71yrs) he began his journey illiterate but read the dictionary from front to back three times until he understood every word and their meaning – he also used his fear to keep moving him forward. I believe that fear is the major factor that everyone struggles with, I’m no exception.
You might like to write about how you overcame or dealt with your fear, assuming you had any, when you began your journey into property investing.
Keep up the good work.[thumbsupanim]I just read your newsletter on the 3 P’s Plan, Purpose and Passion.
Plan – My plan has always been to buy quality properties that unfortunately are ve-. Now having seen this site, i believe there is a place for ve+. However my plan is to re-assess ve+ when the market goes through its correction. I am happy with my portfolio but now I am more open to regional centres and may consider a specific town or two in the future. But just not NOW.
Purpose – I have always had a purpose of using property to help become financially free.
Passion – I love property investing and thats why I spend far too much time on this forum. Hopefully my comments have helped some people.
I heartily agree that comfort zones are bad, if not
dangerous. The longer you spend in a comfort zone,
the harder it is to leave. It is easier to stay
in a rut then it is to climb out
.I think you might need to swap plan and purpose around
in the order of the three P’s … If you don’t first
have a goal/purpose .. how can you create a plan to
achieve that purpose ?Either way, thankyou for writing the first book, it helped
kick me out of a comfort zone and I can’t wait to see
what the second book is like.Keep up the good work,
Cheers,
Brian.
Hi,
Thanks for the responses so far. I’m delighted you enjoy the newsletters and hope that they prompt thinking through some of the important questions that need to be considered to be a property investing success.
Yes, I agree that purpose should actually come before plan.
Yack – I don’t always agree with what you say, but I’m certainly appreciative of your contributions that make this forum balanced and informed.
Take it easy!
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 am the same as yack steve,
brought -cf for cg as i know the area i brought as a 1st IP but now im looking for my 2nd one which will be +cfFor some reason I havent got any email as yet, funny as Pisces asked also if my email was full.
So I am going off the post at this time.
Anyway, There was a tshirt put out some time ago, I think by someone who was unemployed and just went out there and made it. This one said, “know your limits and break them”
Which to me stands for many things, but essentially I Plan to have a Purpose in life which is a passion!
I have always wanted property from being a kid, tried talking my folks into land when I was under 15. They didn’t listen!
I plan to earn an income, have a good asset base – though not only limited to property. I have a short, medium and long term plan. And I plan to retire early.
My purpose is to enjoy, have fun and to provide for my grandkids.
My Passion is people and the environment, property and increasing my knowledge and wealth
cheers
” a blind man may see what a sighted man may not”
Steve.Hi.Would love to post about march newsletter.Only I havent received it yet and its April tomorrow.
Is this an ealy joke???????
Russ.So many +CF properties in Western Australia.Let me help you. And we can achieve a win win situation.Russ.0438 659 411
Ditto Ditto , *chucks tantrum* i want my newsletter [whistle]or ill stop payment [cigar]
If you want the rainbow youve got to put up with the rain!
i liked steves news letter the three p’s certainly make sense.
my only problem is i want it all now!!,
but as they say time in the market is all you can do… for the moment.
the plan is in place ie company and unit trust set up, 2 ip’s plus my ppor.
the purpose is the z3 bmw convertable plus a new house to park it in,
2 more years,, and i should be financially free.
cheers
shaunLead, Follow or get out of the bloody way
Originally posted by elves:Anyway, There was a tshirt put out some time ago, I think by someone who was unemployed and just went out there and made it. This one said, “know your limits and break them”
There is also a saying that go’s “Name your limitations and they’re yours”
Rakky ;P
Thanks Steve,
Purpose – I think most of the investor have the same purpose of being financially free or get rich. But for me, if I have to work 8 hours day normally then why shouldn’t I spent time in properties which has far better result to make me rich and financially free and on the top you don’t have to work eight hours in raw every single day of the week. Work Smarter Not Harder – That’s the way life should be, if it is not that it’s you who can create it…
Thanks to everyone, “Help People to Look Forward”.Steve said: “And there’s a sacrifice that must be paid, since to receive the benefits from investing you must first step out in faith (since the results will be unknown) and take action”
In my case, I was deep in a comfort zone (my job in Sydney) yet I was not comfortable! The MAP was the catalyst i needed to take action and resign and move to NZ to find +CF deals. Now I wish I had done it sooner, and faster.
When thinking about your purpose, your plan and your passion – keep in mind that these all relate to your journey just as much as the end result. And your journey needs to be the fun part!
I’m in the MAP, and can provide +CF deals in NZ for a fee. Email me for details.
Thanks, Steve,for your newsletter, very informative as usual.[thumbsup2]
I think that Plan, Purpose and Passion could come in any order, depending on the individual applying it.
E.g. someone with a natural love and passion for property might recognise this passion in him/herself and then set up a plan to do something with this passion and develop a purpose according to his own needs.
WHereas someone with no real direction in life, might set up a plan first, think about purpose, work out what kind of verhicle will work best for him, and may decide property will do it for him.
I think any combination is possible, regarding what your needs are.
The main point you make is that all three of the Ps must work together for people to be successful.
ANd I think this is very true.Thanks Steve,
I’d like to add another ‘P’ if I may, similar to Passion, and that is Persistence.
To quote Calvin Coolidge:
“Nothing in the world can take the place of persistance.
Talent will not; nothing is more common than unsuccessful men with talent.
Genius will not; Unrewarded genius is almost a proverb.
Education will not; the world is full of educated derelicts.
Persistance and dermination alone are omnipotent”.If have a purpose, and you’ve done your planning, persistance will see you through the times when the passion isn’t as high.
I think that when the passion fades, you have either lost sight of, or lost touch with the plan you started out with. Of course, if you don’t have a plan, it becomes a lot harder to keep going as you can’t measure yourself or know if you are going in the right direction.
Go back to your plan on a monthly or quarterly basis, adjust it if necessary (but don’t wimp out). It’s easier to keep going when your goals are in front of you. [rambo2]
I’ve just spent the last 2-3 years going round in circles because I lost sight of where I was going. I achieved most of my initial goals, but didn’t have any plan for what was next.
Looks like I found the waiting place (what are you doing to me Steve, now I’m buying Dr Seuss books and have ol’ Shape-o on top of my filing cabinet[rolleyesanim])
Well, a combination of taking a break from work, and a bit of thinking and I am now back underway with a new direction.
Ian
“Looks like I found the waiting place (what are you doing to me Steve, now I’m buying Dr Seuss books and have ol’ Shape-o on top of my filing cabinet)”
LOL Ian, and Green Eggs and Ham is all about persistence.
[party]Hello everyone,
I definatly like positive cash flow propertys PCFP
I would not buy any negative cash flow properies NCFP.
I have one property with a $12 positive net cashflow each week and thats a carton of crown lagers each month for free. I am as rich as a king
Dom [stun]
Oh yeah great newsletterDAAJ
I have a property that has increased by at least $40k in two years. Thats my kids education paid for. They are only 3 and 4 and once I need the money who knows how much more the property has increased. Not sure how many crownies that is, but surely its more than one per week for a period of two years.
Originally posted by RussH:Steve.Hi.Would love to post about march newsletter.Only I havent received it yet and its April tomorrow.
Is this an ealy joke???????
Russ.So many +CF properties in Western Australia.Let me help you. And we can achieve a win win situation.Russ.0438 659 411
It is also available on the forum
.link below
https://www.propertyinvesting.com/newsletter/newsletter026.htmlSo for DAAJ this is the three P’s for you:
Plan : to get a carton of crown lagers each month for free
Purpose: to drink a carton of crown lagers each month for free
Passion: drinking cartons of crown lagersIs that right? [satan]
Myself:
Purpose: To subsidise income, no one source totally reliant as I am on current work.
Plan: Still formulating the initial steps, so reading will be within that portion though I feel I have a good understanding of loan structures and fees it seems.
Passion: With a good understanding of mathematical principles and statistics which never really seems to fall away, as long as I can keep my interest in the maths of it all it shouldn’t really be a problem…. also my real Passion: To keep my sunday’s free as I play cricket all year ’round [biggrin]
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