- Originally posted by Peter Spann:Originally posted by geo:
guys – where do u find the time to read[blink]
How do you find the time NOT to read?
To me reading is magic. For thirty bucks you can get all the wisdom of an author that has taken them years to collect and apply. And even the self-published and ‘opportunistic’ books have something to offer.
I figure it would take me years of trial and error to get the same knowledge.
My books have more content than I can cover in a 2 day seminar.
When I was first starting out I couldn’t even afford the books and I certainly couldn’t afford seminars but I could afford a $2 library card and a whole world was opened up to me sitting there at the back of public libraries that I never knew existed.
well i guess ur absolutely right. I just went to Collins Bookstore – they have both your books there. I got the new one and also bought “The Complete guide to Investing in Rental Properties” by Steve Berges. Don’t know which one to read first but by the sound of all the hype on your book Pete, it looks like yours takes priority.
kind regards,
George.
P.S: Hey Redwing – get well soon mateI’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
I picked up Peter’s new book yesterday, and from what I have read so far, it is very good.
Terryw
Discover Home Loans
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
Yack – where r u going on holidays??? and for how long?
yeah – the book is great – im upto pg. 25 – the pharmacist…
I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Peter,
I went to your money magic seminar in Brisbane in 1999 i think and you were talking then about your dream to get into acting and going to NIDA. Being a wannabe actor myself, just curious what happened to that? Do you still wish to go or did you not make the cut like so many others?
I think some of Peter’s strategies such as the Property Trust’s assisting in paying off his IP’s were another avenue to explore also..
As a Property Investor i love my Capital Growth and increased income( helps me to further purchase Property) so peter’s Ideas ofpurchasing Quality Property Trusts combining income and CG, as well as his strategy of buying quality Growth shares appeals to me also..
Even + Geared or Nuetrally Geared IP’s i look at, i look for the potential of Growth. I prefer areas within easy acess of water..be it the rivers or the ocean.
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHello Peter;
I have read Wealth Magic last year. It was the first book on investment I have ever read, the book is easy to understand.
I have just bought your book from a book store last night, so far I have enjoyed it.
Regards
StartHey Peter I hope you dont mind but i was just wondering if I could ask you a non property related question (PLEASE [biggrin])
I was just getting confused over how cost are calculted when you write cover calls. My understanding is you pay a brokerage fee to buy the shares and then you pay another 1% to write the options- Know is that 1% based on the total value of your shares or is it based on the number of contracts or what? The reason I ask is because the majority of the brokers Ive looked at (including yours) charge around this area and considering you only make like 2% on your money that kinda bites into your profitability.
As well Ive read that if you get excersied you have to pay a further brokerage fee?
Anyway thanking you in advance
Regards
Expat
Originally posted by redwing:
On the contrary – I was actually PROMOTING the local library.
Here’s the things – I LOVE seminars and I enjoy presenting and think we do an OK job. I think our financial planning service is good too.
But when I started I would not have been able to afford either.
That’s why I wrote my books (and by the time I am finished the series they will probably contain more information than all my seminars put together – like ever other presenter I know).
And if people can’t even afford the books they can still start by a free or low cost library membership – that’s how I did it.
People forget that I lived on expired Black and Gold brand Tuna for 6 months in order to save up for my first property. I KNOW what it’s like to not have any money.
Originally posted by Old School Skata:
NIDA. Being a wannabe actor myself, just curious what happened to that? Do you still wish to go or did you not make the cut like so many others?I actually want to direct – can’t act to save myself. I reckon that’s why I became a seminar presenter ‘cause it’s the only way I get to be on stage and have people applaud me! LOL
I got through to the final round but didn’t go – “life†got in the way – so I don’t know if I would have got through or not. Give me a few more years at this Financial Services business and we’ll see what happens.
BTW – Your avatar looks more like a muso than an actor!
Originally posted by start:I have read Wealth Magic last year. It was the first book on investment I have ever read, the book is easy to understand.
I have just bought your book from a book store last night, so far I have enjoyed it.
How’s it going now?
Originally posted by Expat:Hey Peter I hope you dont mind but i was just wondering if I could ask you a non property related question (PLEASE [biggrin])
I am happy to answer but have to respect Steve’s “no-shares stuff†rule – it is after all his forum and he has made the rule for very good reasons.
Hi Peter and all
as per your recomndation i went and bought the book ” the richest man in babylon” and it was fantastic. i was reading it till 3 in the morning ..( I dont think i did that when i was at Uni..).. it is so simple and eays to understand and gives the basic ideas on how to make money which applies even in the 21st century ..i realised that i have overlooked the simple and basic rules about money and as i am in the financial industry i tend to concetrate on the latest strategies yet forget the basic stuff..
thanks Peter
and started reading ur book wealth magic..half way …interesting read ..as some what similar to richest man in babylon..as in in that book it tells how to be an expert and specilse in ur field to increase income and in ur book it talks about being unique to earn more….again ur book is similar to tony robbins unlimited power..talks about taking action. as knowledge without action is useless….
looking forward to finish reading ur book
thanks againregards
Kay
Hello Peter;
Your new book is very similar to Wealth Magic, your first book. What I mean is you teach your strategies to the readers by using your ‘wealthy friend’ as a teacher, which makes it easy to understand.
I’m up to chapter 13 – The Second Law of Property Investment.
One thing I’m not very sure and need clarify because of information on the news and paper is that in this chapter (chapter 13) there is a graph shows the % of property growth over the 10 year period, in the 1st year coming off the boom will be flat – no growth (like now), then 2nd year is 7% growth, by the 4th year is 20% growth then flat again for a couple of years then pick up again in the 8th year at 8% then year 9 and 10 to 14% and 21% growth.
However, from the news and papers, analysts are predicting 5 to 7 year with no growth.I do not mean to criticise or any thing, just that I’m still in my early stage of property learning curve and I need to know your thought.
Thanking you in advance
Regards
StartHi Start,
interesting point – Im upto the same chapter. Im not Peter but I’ll have a go. The graph you see represents historical data not data of the future for which you have seen analysts predict.
regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Originally posted by start:However, from the news and papers, analysts are predicting 5 to 7 year with no growth.
geo is spot on.
The problem with annalists is that they are trying to predict the future. I remember in 1995 that one of the biggest firms in Australia said that the property boom (such as it was back then) was over!
And I was temporarily panicked by that until I re-asserted my rule never to read what other people say and always formulate my own opinion.
I can’t predict the future but I do know that at some stage property is going to be more valuable than it is today and so I’m am always a potential buyer.
And different areas will do different things – seems too broad a statement to me.
Originally posted by Peter Spann:
By the way – I think “Brain” is the bestest EVER cartoon character.
I subscribe to his uber-plan!I personally like “Mojo Jojo” from Powerpuff Girls!
By The way – I have found EBAY to be an excellent source of second hand books! they are a bit cheaper and you can still own them
By The way – I have found EBAY to be an excellent source of second hand books! they are a bit cheaper and you can still own themabsolutley agree with you alwayscurious (and a great source for sass and bide
)Peter, i bought your book ‘wealth magic’ six months ago and have read and re read it eight times. Your writing style is so easy to read and coherent, i think it’s one of the reasons so many people realate so well to you.
So now that you’ve got two sucessful books under your belt and are well recognised and respected in wealth creation circles, where to from here?
cheers, e x
Peter,
A question about holding costs.
I have been researching for some time now to work out who is best equipped to offer support in a mentoring role. I keep coming back to freeman fox.
Because of this I sent an e-mail and made a call to your support staff yesterday to clarify my thoughts about cashflow.
From the coversation yesterday I did some figuring this morning and worked out using the 100% equity I have thus accessing 80% of the values of each property placing funds in a managed fund and Using a margin of 70% I should be able to turn a loss making property into break even or positive overall in terms of the investment tied up.
I have just noticed similar comments from you in earlier posts.
Have I worked it out right and is that a correct understanding of your posts.
Cheers,
Grega
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