What do you love the most about being a property investor?

[geoffw]

I've had a private message asking me about this. It's an excellent question, and I think there may be some good answers out there.

Here's my ideas- and I (as well as the person who asked the question) would love to hear some responses:

First of all, the prospect- very much more real than 8 years ago before I discovered property investment- of being able to retire on something more than a pittance. That makes some of the short term sacrifices worth while. Even with positively geared properties, there are those times when you have short term expenses which aren't covered by loans or whatever.

But the I enjoy all the associated aspects of learning. There's always something new to learn. Tax deductions, property management "problems", and renovating to name just a few. It's a comparatively new area to me. I did buy a DHA property 6 years ago, and a Brisbane one 2 1/2 years ago- but it's only my recent purchases (3 cottages in ACT and a block of 8 1br in Queanbeyan) which have brought me closer to the real practical aspects of R/E. I don't want to do hands on- the property manager gets paid a pittance for doing all of that for me- but I'm enjoying all the ins and outs. And the learning of, and sharing of, information in this forum.

[dtraeger2k]

I like property because it has something for every stage of life for everybody.

Ya want capital growth, get growth properties.
Ya want extra income, get yield properties.
Ya want to say nick off to the tax man, buy any property
Ya want liability protection, buy property differently :p
I want to retire at HALF the "normal age". Property can do it.

[XBenX]

To be honest the reason Im interested in IP is because I enjoy being lazy. I enjoy work and the associated academic challenges but Id much prefer to CHOOSE if i want to turn up. (which would be much more infrequently than my current situation)

In summary (of my incoherant babble) for me its all about freedom of choice

[AndrewG]

I would have to say :

1. To be able to retire at a half decent age (i.e. NOT >50) (remember that I'm currently 31)
2. To be able to learn more about this, as I find it a very enjoyable topic/hobby.
3. To share information to my friends about what I am doing (not in a bragging way, but in a way that they may do the same if they choose).

They would be the main ones. There's probably a stack more but most things would come under one of those banners in some way.

Andrew.

[ivankram]

Financial abundance every day..... Time is one of the greatest wealth vehicles ever, if you know how to use it. And what better way than buying houses, using someone else’s money.
Ask yourself; if I were financially free now, what would that give me that I don't have in my life now?
This is the real reason.

Cheers
Ivan

[Jacque]

Being a stickybeak by nature, I enjoy looking inside homes, even when I know from the outset that I'm not going to buy this particular property (research constitutes me peering into many renovated houses and units). I also enjoy the thrill of locating a good buy, even if it means many months of looking at houses before the right one pops up. (please let it be this weekend!)

I love planning a renovation, what needs to be done, who's going to do it and how. I get a real thrill out of a finished job, particularly when I've done some of it myself with my own labour. I actually don't mind painting (except ceilings!) and like all the colour choosing etc.

In the last couple of years, I've watched with glee as all my properties have appreciated far beyond what even I thought possible and to have accrued hundreds of thousands of dollars in capital growth alone is very exciting! I've found something that I'm becoming addicted to and, like any addiction, I find it impossible to give up. Even when on holidays, I look in real estate windows, searching for that elusive positive cashflow place or a bargain by the sea.

Property investment has given me a new focus and something different to do with my time, since the youngest of my three children begins school next year. Never again will I need to return to the paid workforce, as I enjoy creating financial rewards now and for the future.

Just some of my thoughts,

[asy]

ivankram and jacque...

are you two twins?

Love the avatars!

asy :D

[mitch]

Its all about my desire for independance and not being told what to do .This is for Mrs Mitch and myself to retire,sure l like all the thrills and the learning and all the buzz things but the thing thing that realy horns me up is the independance from little jonny or who ever is in gov in 2012 telling me how to live ,how to invest, when l can retire,how much l can get paid from super or pension, you get my drift.I decide where and how and when and why.What will the retirement age be in 2012? WHO CARES! lm king of my domain and l shall reap what l sow. Do your best, the government isnt here to help. MITCH.

[sctpc]

O Mitch how true but I hope to beet you for me its 2010:D

[Brenda Irwin]

I'll be very honest with this reply.

You know the addrenilin rush you get when you & your partner sign yet another contract. The big breath you take, the sweaty hands, the naughty feeling you get when you're about to run up even more debt? Then you both go home with the feeling 'we're on our way closer to being millionaires'.



Cheers Brenda:)

[BUNDY]

I just love the annual RATES and LAND TAX Bills. Alsmost gives me a heart attack each year!!!!!!!!

BUNDY

[Queen Bee]

1. Because I'm lazy.
2. Because I don't want to have to hold my breath when I use my EFTPOS card in case it declines.
3. Because it makes me feel superior when I tell other people about IP and they don't listen to me.
4. Because I'm nosey too.
5. Because I love the challenge of bidding for a property
6. Because I love picking all the colours. (And I hate ceilings too)
7. Because I wanna be RICH!!

[Aceyducey]

Because it's fun!

Because I get to make things with my hands that other people can then enjoy.

Because I am only answerable to myself (& my partner)

Because I can spend more time with the people I love doing the things I want to do.

By the way - the real question is - would you remain a property investor if it wasn't a path to wealth (just to comfort)?

Cheers,

Aceyducey

[mitch]

Gday Aceyducey,

l had a conversation with a couple of blokes l work with about that wealth/comfort thing.They were commenting on what l thought my gross worth was and l was more interested in what my income potential was from the properties we own and how purchasing more IP would add to the income we would receive.

At the end of it we arived at the conclusion that the wealth creation was a by product of the desire to be comfortable and independant and my primary goal was that comfort,the wealth creation is a very satisfiying by product that l am more than delighted to accept

Regards, MITCH

[investor]

HI

Because every property is different and the amount of money you can make on each depends on your own knowledge.

It's like a maze searching through the adds to find a good bargain.

It's easy money if you know what you are looking for.

Regards

Investor :)

PS. Also walking through other peoples houses is interesting.:p

[Tibor]

Hi there,

For me personally the main thing that one day it will allow me to do in life what I want to do, when I want to do and the way I want to without worrying about any materialistic constraints.

At the same time it provides me an excellent opportunity to learn, to meet (electronically or in real) with other similarly minded people, share good and bad things, get helped and help others, that is, it also allows me to enjoy the journey all along the way and beyond at my own pace and comfort. I guess it gives more
than most people (including me) ever get out of their jobs.

Tibor

[XBenX]

Originally posted by Queen Bee
1. Because I'm lazy.
2. Because I don't want to have to hold my breath when I use my EFTPOS card in case it declines.
3. Because it makes me feel superior when I tell other people about IP and they don't listen to me.
4. Because I'm nosey too.
5. Because I love the challenge of bidding for a property
6. Because I love picking all the colours. (And I hate ceilings too)
7. Because I wanna be RICH!!

Hehe - I didnt think Id find another investor w/ the same motivation as me .... being lazy.... im too lazy to work till im 65 !

[Les]

G'day XBenX,

An interesting point (about being lazy) - and that reminded me of when I overheard a Manager talking of one particular person where I worked. He said something like "Yes, xxxxxx is lazy, but she's so determined to work less, that she looks hard for the most effective way to do the job. And THAT is beneficial to all of us!!!"


Laziness could yet become a virtue ;)

Regards,

[Aceyducey]

Les,

Yeah I've always told people that it's because I'm lazy I work so hard. I work really long hours to make my work as easy as possible :)

Of course, it could just be that I'm an obsessive compulsive Type A person ;)

Cheers,

Aceyducey

[geoffw]

ACDC,

Ir would have been hard to be lazy and to do your Canberra reno as well as you did!

[XBenX]

Originally posted by Les
G'day XBenX,

An interesting point (about being lazy) - and that reminded me of when I overheard a Manager talking of one particular person where I worked. He said something like "Yes, xxxxxx is lazy, but she's so determined to work less, that she looks hard for the most effective way to do the job. And THAT is beneficial to all of us!!!"


Laziness could yet become a virtue ;)

Regards,

now if I can just apply that to posting on the forum I might have a whole lot more time :P

the person you describe must work in a very similar fashion to myself (as wage slave)

I do the same amount of work as others in my team (most of the time more) yet I seem to post all day... I actually wonder what they do all day because they seem to be working !!!

my team has also decreased in size from 5 FTE's to 2FTE's and whilst my workload has increase I dont actually spend any extra time working

[Jas]

I love the feeling of control I have over my future. I'm not reliant on the market doing something, I am (literally) building my assets up.

Jas

[coolstyle]

Interesting to hear of others motivations.

Me?
Although early stages for me .. it is like this:

Now that i think of it.... the first activity that pushed me away from get a good job and work hard mentality .. was when i imported a car from overseas, and sold it for 30% tax free profit after driving around for 3 months...this was fantastic! .. and it made me think a little about how easy it really was (to trade a commodity and make money from it).

High level --> I've seen wealth all around me, and I want it. I am astounded by the number of people that accept their lives the way they are, yet still compain about their position. It makes me sick to hear people accept that you need to work hard until your 55+ to make money (unless you inherit).

I have thought about it, how they get it, are they smarter than me, are they 'better' that me?, do they have a special quality i am missing? ...
I've looked at my 'well off' father - "When did you make the majority of your money Dad?" "In the last 5 years", he replied.

I've tried shares, cars, small businesses, and work savings .. and I cannot see how I can realistically make enough in 5 years without taking a high level of risk...
I goto a HK seminar and funnily enough, get inspired :p ... being a sceptic, I don't beleive the crap, but It clicks to me that property (and selling educational material on how to make money), is a great way to make a buck. (that is I can lever the investment almost higher than any other commodity, there is limited risk of price drops, and you have much greater control over your assets.

So following the HK seminar, I borrow a heap of books and begin to read them ... and start to think 'property'.
I've not quite turned to the point i'd like to get to .. but have made a few subject to my bank approval offers on suitable properties.

Regards!
Coolstyle

[Jimmyjamjars]

I had a work colleague tell me recently that I was a capitalist for having a goal of owning a bucketload of properties. i looked at him in astonishment. I said to him that I couldn't believe he could have misread me so badly. I replied that my goal wasn't to own a bucketload of properties, they were just the vehicle that I was using to get me to my goal. ie: financial independence. Hopefully, he learnt 2 things that day, one of them being that I'm not what he thought I was.
JIM

[Jacque]

JJJ,
I like the way you explained that to your workmate....


"I replied that my goal wasn't to own a bucketload of properties, they were just the vehicle that I was using to get me to my goal."

Nice way of putting it! IP's should be viewed as just that- pieces of the puzzle that make up the complete picture of our end goals. Maybe your work colleague has a chip on his shoulder........

[geoffw]

Originally posted by Jacque
Maybe your work colleague has a chip on his shoulder........ I know many people who are well balanced (and that does include people in the property business)

As Les has said before- they're well balanced because they have a chip on each sholder :D

[XBenX]

Originally posted by Jimmyjamjars
I had a work colleague tell me recently that I was a capitalist for having a goal of owning a bucketload of properties. i looked at him in astonishment. I said to him that I couldn't believe he could have misread me so badly. I replied that my goal wasn't to own a bucketload of properties, they were just the vehicle that I was using to get me to my goal. ie: financial independence. Hopefully, he learnt 2 things that day, one of them being that I'm not what he thought I was.
JIM

Damn - I didnt know being a capitalist was a bad thing, I thought they were the foundation of our "free" market economy.

[landlubber]

Because I sure don't intend to be lookin' back , having worked for years and having to watch every penny. The statistics on retirement and old age are amazing ...generally it's easier for a 20 year old to find a spare $1000 than a 65 year old !

Great thread !

LL

[Ecogirl]

It will eventually provide me with choices about what I want to do with my life. At the moment I work to live - I want to be able to chose to work or not and in what capacity. :)

This should be possible with the application of the research that I'm doing. As previously posted - property is the vehicle that will get me to my destination (not soon enough though).

Ecogirl