Who’s doin’ what in 2011?

Getting ready to start my property development project for a block of units in Glebe

Speaking to builders 3 hrs a day is sooo much fun…oh the joy ahahha

Regards
Michael

Ok Stringray, I read about your Housing Price Crash on the link and I was suitably unimpressed how lacking the article was in fundamental economics – something I have a undergraduate degree in. I have read, heard and been dictated to this kind of dribble through the 80's when I had an 18.4% mortgage. I heard it from these armchair experts in the 90's through the recession this country had to have. I heard it from the uneducated who said Australia's economy is doomed because the rest of the world fell into an economic heap. I bet my Grandfather heard this same during WW1, the Great Depression and WW2. I bet my father heard it when there weren't enough men to do jobs needed in this country post WW2 when so many young Aussie men paid the ultimate sacrifice. Yeah, the doomsters and soothsayers will always look for that big soapbox to grandstand their uneducated, uninformed attempt to justify their mediocrity. This is Australia and here, we 'give it go' and articles like that 'be damned'.
Anyway Stingray, you sell up and one day you'll be sitting down with your grandkids, with all the hindsight you can handle, telling them how you made one of lifes biggest decisions based on lack of emperical evidence but solely on hype and emotion – the things good, intelligent investors leave out of their decision making..

Whoa, strong response. Well-said.

Been doing the usual things: Work, Study, Exercise, Games, and time seems to fly

Work:

• Been working 6-7 days per week for the past few months
• The boss is happy to give me a week off in April, and some time off to attend events around June-July period

Studies:

• Recently completed a course in Austrian economics relating to the 'Anatomy of the Feds' – Did you guys know that if you deposit $10,000, the bank can lend out $90,000 out of thin air and charge someone else interest on it?!
• Currently reading the book 'The Power of Focus' by Jack Canfield, and trying to develop more successful habit
• In terms of investments, I invested quite heavily in Silver back in November 2010, and the shares have appreciated by a staggering +40% since then! My plan in 2011 is to prepare for the next phase of my investing by studying material relating to property investing. I had a brief look at Australian properties, and 'Tasmania' looks like a good place to invest in – especially the suburbs with median house price of below $100,000, 7% yields, and 10% growth
• Also looking into a work from home business in the health and nutrition industry, by the name of 'Herbalife'

Exercise

• Currently walking 30 minutes per day, and going to the gym once a week, but am considering doing more weights and more cardio, every morning
• Have gained about 1kg of lean muscle mass in the past fortnight – my goal being another 5kg by the end of the year, and a six pack

Games

• I enjoy playing strategic games, like Starcraft II and have recently attained Gold Ranking in all team matches

Thanks DWolfe!

If you want something bad enough, I think you will find a way

Most people however are too comfortable where they are, and can't be bothered changing

The best tip I can offer, is to think about the BENEFITS of achieving your goals, so that the small menial things don't matter

As the the $90k thing, it's called 'Fractional Reserve Banking'. If you have 100% fractional reserve requirement then the bank can only lend out money they have, but if you have 10% fractional reserve requirements they can create money out of thin air and lend it out with interest. Not a bad business to be in, ey?

Activities for this year:

1. Waiting on stamped plans from council (hopefully in a week or two). This planning permit took us almost two years. wheeew.
2. Get subdivision underway.
3. Hopefully building is finished by end of the year.
4. Network with developers, and find a mentor (anyone?)

Cheers,
Ricky

2011… what can I say? Well, I've been hanging around this site long enough for me to open up a bit.

Recently seperated which is neither good or bad, just one of those things and there's no need to feel sorry. Close to rock bottom where the good thing about it is "there's no way but up!" I had my fair share of mistakes and am stronger and smarter (hopefully) because of it.

Back to topic.

– Doing a Uni Program with a trimester schedule doing around 3 modules/courses per semester.

– Find a role in the commercial property sector

– Attend API and UDIA events as much as time and funds can get

– Continue to prepare, build my contacts list, learning from mentors and forums to start commercial investing next year and commercial property development by the start of 2014.

– Ensure credit rating is intact

– Pay off credit card debts

– Go overseas by the end of the year

– Get closer to my goals one step at a time

My attitude is I don't have a crystal ball and I can't predict the future. I can only increase the chances of success by continuing education, learn to minise risk and maximise profit potential. I would like to be as fair as possible with the deals I'm making without getting burned in the process.

Mmm….. reviewing my post from Feb… now April………. signed up for 2 properties last week, commenced construction on the other…. seems like I achieved my 2011 goals earlier in the year than i thought ……  hmmm.  ……..mmm… Maybe I didn't sent them high enough…

Anyway, for anyone reading this . take it as a jolt to review what your goals are/were for this year . the year is but young my friends.

"You may not accomplish every goal you set — no one does — but what really matters is having goals and going after them wholeheartedly."

quote by-Les Brown