Mappers on Today Tonight

Mark,

Don’t be worried about questioning anything. In fact, I think many people might buy a book or watch a program and think this is easy. Whereas, I think the message is not that it is easy, but that it is achievable if that is what they will focus on. Many people will never go further than buying a book because even going into investment scares them. I had an instance last year where some friends were interested in IP as they had seen some success I had had. We were on holidays in a solid country town, saw a block of flats advertised, they thought it met their objectives. But they didn’t follow it up. I spoke to them a couple of times after, they’d decided to leave it till they reorganised their finances, something else came up. Sure, some people will leap in based on a book or a show or a conversation, but they’re the exceptions.

However, I don’t think Steve’s books present a one-sided picture. His first book details a renovation that took extra time etc. His second while it presents success, also points out that it comes at a cost which many people are not prepared to pay even at the start very few people did a journal which was one of the prerequisites to be considered for selection.

Each person has their own risk tolerance and “sleep at night” factor….there is an element of risk in everything inherent with investing – share trading is riky, but the rewards can be substantial if you get it right and have a good knowledge of what you are doing. Property is risky if you don’t know what you are doing and just buy anything hoping that it’ll go up in price or because it’s +cf. Being in business is risky, but it can be less risky than having a job and relying on others up the chain to do their job properly as well – not having the directors not blowing all the profits on bonus packages etc. Ever been retrenched out of the blue?? I don’t believe a job is more stable than running a business – one of the interviewers on “The Apprentice” said something quiet funny…..you’re not going to fire yourself when you’re the boss are you? But you can be fired if you’re an employee. So to me being an employee is less secure than running your own business. To others being an employee is their idea of being secure.
I personally don’t try to do anything too complicated, just buy, renovate, sell – if I know what my target market wants and can afford, an I factor in risks such as interest rates going up or down, and property investing is my job and my business as the mappers have made it, then how can that be dangerous?? IMHO it can only be dangerous when you jump in without any knowledge and hope to become a millionaire overnight.

Sigh….

Keira,

I think you misunderstand some posters here. Sure there are the “knockers” of the strategies used, but I don’t think it is personal criticism of them (the MAPPERS) as people.

As I said before, I don’t question what they have done; THEY DID IT and GOOD ON THEM TOO; they deserve the praise/accolades. What many people are questioning I think, is the “tin tacs”, “nutts and bolts”, GROSS vs NET figures, that’s all.

Incidentally, it’s worth remembering, skepticism helps to develop and broaden the mind; it is personal attacks that narrows it.

In answering your question as to “why people join” well that’s like asking “how long is a piece of string.” For different reasons I guess, and although not intentionally looking to be negative, sometimes things turn out that way…it’s a fact of life.

If you don’t want to read the negative comments (and btw that is a fair call too) skip by them, and read what makes you feel good about investing and what works for you.

Hope that helps a little….

Jo

Hey Steph,

BTW = by the way [biggrin]

Cheers,

Jo