Surrounding yourself with like minded people [Archive] - Somersoft Property Investment Forums

Pedro61

17-04-2003, 09:00 PM

Excellent thread starter SS.

IMHO you can probably do more damage to yourself than benefit to others by persisiting to "convert" others, for want of a better word.

My Example: My realisation that I dont have to rely on Centrelink / Super etc on retirement came about not suddenly overnight as I have heard of others, but gradually over a period of about 12-18 months in 2001/02. Before that I was doomed to continue a life of service to an unappreciative employer, in a job which I almost enjoy. But by neccessity - not by choice.

Since then I have made a conscious decision, in true Kyosaki fashion, to get off my *** and take responsibility for my future. Dont get me wrong, I have yet to buy an IP (first one will be this year) and I'm a long way from even contracdicting my boss, let alone quitting. But I'm so determined to do it that I can almost smell the sand in Tahiti and the pearls around my wifes neck. There is not a chance in hell that I am going to claim a pension from this or any Govt.

The point is that most of our friends are of the other mindset. They are quite happy to continue on the treadmill of life and just get what they get at the end. To them there is no other way. It frustrates me when I attempt to gently bring up the conversation to retirement/investing etc. and they put up the walls as though its "whats he selling us now?"

So what do I do? I now have two circles of friends. My originals and my "new" investor friends (most of you people who I have not even met yet). And In general the two dont mix, but I know where I'll get the most inspiration and motivation.

Any other opinions???

sctpc

17-04-2003, 11:13 PM

ITS A WAST OF TIME TRYING TO TELL PEOPLE WHO HAVE NO NOUSE TO GET OFF THERE *** AND MAKE A LIFE FOR THEM SELF i HAVE DELT WITH PEOPLE 100 TIMES SMARTER THAN ME BUT THEY LIVE IN ONE OFF MY ROOMING HOUSES WHEN I ASK WHY THEY SAY ITS ALL TO HARD
AND THEY SEEEM TO THINK YOU ARE JUST BRAGING OR THEY KNOW ITS ALL GOING TO CRASH AND PROPERTY WILL GO BACK TO 1980 PRICES (I WISH IT WOULD TO BUT NOT A REALITY) SO I WILL ONLY DISCUSS PROPERTY WITH LIKE MINDED PEOPLE.

mitch

18-04-2003, 06:34 AM

Birds of a feather flock together

If the shoe fits , wear it

If they don't think property investment is for them , don't try to change their mind, seek people who do . MITCH

Lissy

18-04-2003, 06:35 AM

There ARE days when it's all too hard, for a multitude of reasons.
And that's when the people who are going to succeed are separated from the rest - because instead of giving up, they stick with it and find a way.
At least that's what I tell myself on days like that.... hehehehe
And on days like that it's invaluable to be able to call an investing friend, or logon to a chatroom and find other people who've been through the same fires and come out the other side. Maybe not exactly the same challenge, but I always find it gives me the strength to grit my teeth and continue forging ahead.
I'd never bother ringing any of my non investing friends on that sort of day.

brains

18-04-2003, 06:40 AM

In my opinion it doesnt matter. If you are motivated enough, you will still achieve what you want regardless of who you talk to or try to convert.

You could talk to the Kings Cross bag lady or Kerry Packer about whatever, it wont change a thing if you dont have your own motivation.

When you finish talking its up to you, the talkings not important, its what you do after it that matters.

I dont think surrounding yourself with likeminded people matters that much either, (I wish Freestylers would stop sending me those dumb emails) It just makes things easier, sort of like this forum which would have to be the best information resource on property investing in Australia. (and a bunch of great people).

I have friends who own businesses who understand what im doing on a basic level but i dont really closely know anyone involved in property investment, so i dont bother trying to convert or even talk beyond the superficial to them about it.

geoffw

18-04-2003, 07:49 AM

When I started in property, I tried to talk with people- but got sat on. Nobody wants to know- they're usually just waiting for you to fall flat on your face anyway (I know, I had the same attitude to other people once upon a time- and wish now I didn't!)

To have met with people who have succeeded in property has been a huge help to me- without some of that, I would not be very far along the path at all.

This forum is of huge value for being able to talk with people who have similar aims, and who have had varying degrees of success along the investing path.

Coming here is a breath of fresh air. People actually want your opinions, and you can learn so much from other peoples' contributions.

geoffw

18-04-2003, 07:51 AM

Originally posted by Pedro61
So what do I do? I now have two circles of friends. My originals and my "new" investor friends (most of you people who I have not even met yet). And In general the two dont mix, but I know where I'll get the most inspiration and motivation.Pedro,

Don't forget the people like me who are in both groups- you probably realise now why I never mentioned anything to you before about anything to do with investing.

Jakk

18-04-2003, 09:25 AM

G'Day all,

Beware: (Long Post....Hans Christian Anderson would be proud)

A story I would like to share..........

around 3 years ago I had a net annual passive income after loan committments of around $35K from property investments and figured twas time to take things a little easier and basically leave the so called "rat race" and do what I wanted to do, when I wanted to do it and not be accountable to anyone else.

I was pretty impressed with myself having achieved this level of "perceived" prosperity in a period of only 7 years and having done this all by myself.

I didn't really talk about it with anyone and I figured I had been really lucky, because as sure as hell I didn't think I was any smarter than anyone else, I just assumed I had been in the right place at the right time and things just happened to me which had turned out for the best.

I also realised that regretfully I had a wife and 3 kids that were a vacuum for money and that my $35K per annum would need to be supplemented somewhat if I were to continue to maintain my mediocre existance. I felt that I should be able to earn at least another $15 to $20K working from home as a Licensed Estate Agent as I had made quite a few contacts during my working life.

I now found that I had heaps of time on my hands and started spending some (a great deal actually) time on the internet.

Property was my great fascination and using that great search engine "GOOGLE" I would spend hours, days, weeks on there trying to uncover property related web sites.

I remember like it was yesterday the day I came across the Creative Real Estate Investing website, and I recall doing an all nighter reading every post on there. ( actually didn't go to bed that night at all, kids got up and I made out that I had got up an hour earlier, told the wife I fell asleep at computer).

The site was by a bloke called Andrew Gray I think and there was reference to the "somerset" forum.

Well that became an obsession, to find this "somerset forum"

Didn't take much, I found it, but it was deserted, it had been replaced by a newer one, not this current one, the one before this one, still I read the posts and figured it had been frequented by Aussie investors.......I was one step away from property heaven.
Found the newer forum, (the one before this one), and starting reading all the posts, didn't actually register for ages, (months), just kept reading the posts.

I was amazed at how many like minded people there was and how they seemed to be such a close knit group, I actually read that others had done what I had done and some so much better and smarter than me.
I figured "this is great" I can read what they have done, learn and also do what they are doing and they will never know.
This was a turning point in my investing career, I now, no longer felt that I had done so well, I felt that I should have done better.

Just reading what like minded people had achieved spurred me on, I was no longer Robinson Curusoe, there was others, average people, who were living off property investment income.

Yes I had read Jan Somers books and others as well, but when you read a book written by someone, there is no interraction, who knows if they exist or not, but these people on the forum were real people, they were in Australia and they were alive and posting everyday.
I registered so that I could post and hoped that if i did eventually post they would show mercy and not try to belittle me by making me out to be a novice and not worthy of being part of their close knit online community.

Then I took it one step further, I logged into the chat room.......
Immediately I was pounced upon by Asy, probing questions from her had me quivering at my keyboard but the worst was yet to come. The next morning I logged into the chat room again, this time TW was on and she also did the questioning thing.

I wrote earlier in this post that finding this forum spurred me on, you better believe it. I recall telling TW that I owned 17 properties back then, the number is now over 50.
my net worth has nearly quadrupled, ( a property boom like we've had has also helped somewhat..), I no longer need to supplement my investment property income from other sources if I don't choose to, I had real funding problems back then, I have learnt other ways to fund property purchases and development.

No one single post or one single poster made this change in me,
but a combination of reading postings from like minded people with a desire to better themselves through property investment and also the questions that are answered from learned people that probably dont apply to my situation today but may apply "one day."

There is such a diverse mix of people on this forum, and lessons can be learnt from others activities and mistakes continually.

Yes, being around or involved with like minded people has definately made a huge difference to me and also provided the stimulus to keep moving forward in the face of adversity.

hows that saying go?............."You can't Soar with the Eagles when you surround yourself with Turkeys"

regards

agent007

18-04-2003, 09:29 AM

Hi all,

I guess that it is interesting to see that we’re not along! That there are people out there with the same interests and problems we have. When I started investing, I tried to tell all my friends. I wanted to join forces with them and leverage in our time to do research and to put capital and borrow money together. I thought that in that way it would be easier. However, I quickly realise that it does not work like that. Life facts and stats mean nothing to this people. They all are worry about of all the what if…? questions that they don’t ask themselves about the consequences of the what if I don’t do anything?.

It is funny but, a couple of friends read Rich Dad Poor Dad and are following the book word by word. The issue is that they are following the steps of the Poor Dad J. At this stage I have not time, not energy and not interest in trying to help them any more. The good news is that one of my friends was listening and now he’s fully awake. We are now helping each other and it is great to have someone to talk to and to make investment plans. It is also great to have a site like this.

On another note, there was an article in the Financial Review yesterday (they took it from the RBA site), in which was said that property investment loans had double since the 80s. The question is, Is it because there are more people investing now or because the ones that were there are getting bigger?. What do you think?

Regards,
James.

PS. Some days I also question my strategies and go through my mistakes. Some times I ask to myself whether it’s right why I’m doing. Some times I don’t know… The question that keeps me going is What If I don’t do any thing????. I started with nothing and the worth that could happen is that I end up with nothing. The last part is already guaranteed if I don’t do anything. So, I don’t know about you but, I better do something.

agent007

18-04-2003, 10:02 AM

__________________________________________________
I wrote earlier in this post that finding this forum spurred me on, you better believe it. I recall telling TW that I owned 17 properties back then, the number is now over 50.
____________________________________________________

This question goes to Jakk,

I would be very interested in listening and learning from you how one can accumulate 17 or 50+ properties in a short life time. This type of achievement fascinates me. What's the right strategy?, how to find the funds?, how can I do it?. How much time do I need?. How can I join the club?

Regards,

eager to learn,

James.

handyandy

18-04-2003, 10:39 AM

Hi Jakk

Great story!!:) Can you eleborate as to the mix of properties and type of locations, Capiatal cities country etc.

From previous posts you called yourself the slumlord just wandering where that originates.

Cheers

Kristine..

18-04-2003, 02:00 PM

Dear Jakk

Although I find just about everyone and everything on this forum inspiring, there is something about what you say and how you say it, which always seems to flick a switch for me.

I have been wallowing about in self pity the past couple of days since VCAT, where the objectors to my clinic application decided to make personal comments about me, and when I defended myself, the Chairman reprimanded me rather harshly. (Think: et tu, Brutus?)

But after reading your post, I remembered why I am doing this, and my creative little mind started buzzing again, looking at the situation from different angles.

And after all, this is what the 'like minded' thing is about. I don't personally know anybody - repeat, anybody! who has done or is even contemplating doing what I do. (Yeah, Jude, I know I know you, no offence, but we are 50kms apart, on different sides of town!) I suppose brain surgeons or lion tamers lament that, too, but then again there are Associations of Brain Surgeons or whatever, where they can get together to talk about the latest styles of lobotomies.

And I have gone along to various meetings of 'investors' from time to time, but everybody has such differnet styles, and I really can't listen to stories about how awful and wicked real estate agents are (being one and really proud of my hard worked for licence).

So I appreciate your posts, Jakk, and your droll sense of humour. Your energy permeates your writing and you obviously believe that the way to deal with obstacles is to pole vault over them.

From 17 to 50 properties in less than five years is a great example to set. Even if these are mortgaged to the max, controlling this number of assets is a triumph by anybody's standards.

Thank you for contributing your story of discovery. We all have a road to Damascus, on which our conversion takes place. Sometimes, particularly after a difficult week / month, it's important to remember how and why we got ourselves into property in the first place, and what we hope to achieve.

Thanks again

Kristine

asy

18-04-2003, 04:18 PM

Originally posted by Jakk
Then I took it one step further, I logged into the chat room.......
Immediately I was pounced upon by Asy, probing questions from her had me quivering at my keyboard but the worst was yet to come. The next morning I logged into the chat room again, this time TW was on and she also did the questioning thing.

I remember that!!! It was a great chat session Jakk, I think I have the logs here somewhere...

I remember my first time in the chat room... TW pounced on me too!!

Not many ppl know this, but that's how I got the 'asy' nickname...

I was unsure of chat rooms, and forums, since I had never been in one, so I wrote my name backwards... (larysa=asyral).

Then when I got into the chat room, and TW started grilling me, she couldn't be bothered typing out 'asyral' so she cut it in half, and hence, 'asy' was born!

I decided I liked it, and so I hung on to it. I decided I liked TW too, and hence she became one of my best friends, or the 'fab four' as I call them, oddly, two of whom I met here on the forum!

It's funny how when you surround yourself with like minded people, and you really feel you can relate and discuss all sorts of things that others just don't understand... you can find friends that were just waiting to happen!

We all have so much to learn from each other. I am just so happy to be on the journey with all of you!!!

asy :D

rickmick

18-04-2003, 05:51 PM

G'day All

I don't find it very easy to "surround yourself with like minded people".

Generally in day to day activities I find people fall into 4 categories.

a. They hear what you and other people do to ensure they have a comfortable future and they just couldn't care less, "she'll be right mate I'll think about it some other time".

Time moves on, but there is hope for an awakening with age.

b. "That's really interesting I should get of my bum and look into doing that sort of thing". However if you throw out some more bait you find that the will to do something is just not there.

These people may eventually admit to themselves that nothing is going to happen unless they put in the effort to make it happen.

c. "How did you get into that, what kind of magic do you posess that allows you to do that? I wish I could do that but I'm not that lucky. It would never work for me".

The defeatest attitude before even making an attempt. How can you have friends that are achieving a certain amount of success with something that you would also like to do and yet not interact with them to help you? I still can't work this one out!!?? Maybe it's some sort of light bulb affect. Pride thing or something.

d. They just needed the spark to ignite the fire and away they go. The source could have been many things, a book, this forum, or just a casual conversation.

I haven't been the source of the spark for anyone yet. I get most of my inspiration from this forum and I'm sure a lot of other people do as well.

Enough of the ravings!

Rick

Bill.L

18-04-2003, 06:19 PM

Hi all

Me dips me lid to ya Jakk, and bows 3 times to the east.(Drouin is east of here:D)

Stories like Jakk's are the inspiration to many and should be consistently told as there are always new people on the thread wanting to know how it is done; or if it is really possible. To meet people of like-mindedness, the property investors monthly meetings that occur in most of the capital cities can be attended. Perhaps at each of the meetings at least one of the attendees could give a more detailed rundown of where they are at and how they got there.

There was a thread on the old site called "Forum Favorites", I think, that had inspirational stories in it.

bye

tamara

18-04-2003, 06:35 PM

Jakks story is very inspirational. Thanks. It makes me think that I should be entering the chatroom. Like minded people where I live are rather rare.

Might have to increase the internet time we pay for so I dont blow the budget:D

Tamara

Survey Mal

18-04-2003, 07:17 PM

Hello All,

Great story Jakk. I think we can all draw inspiration from other people and their stories, one way or another.

I have been reading the posts on this forum for a while, and find it very fascinating and inspirational.

I am only new to property investment, but feel that there is so much to learn.

This forum is a great source of information and so accessible.

And Sunstone, like Mitch has said, "Birds of a feather flock together".

Cheers,
Survey Mal

Michael Yardney

19-04-2003, 01:57 AM

The concept of surrounding your self with like minded peope is one that most succesful business people and property investors understand.

Napoleon Hill in his great book "think and grow rich" mentions mastermind groups. It's a concpt that I have used over the years - getting together with like minded business people from different walks of life over breakfast once a month, and brainstorming.

I guess that's what this forum, or the MSN one, or Freestylers is about.

You can't fly like an eagle in you scratch around with the chooks

elwyn.d

19-04-2003, 06:38 AM

Yes Jakks please tell us more....

Over the last 2 years when people have asked me what to do , how to do it. I have shown them books ,mags and spent a lot of time telling them of my own expirences. Shouldn't have bothered.
It hasn't tempered my enthusiasm and getting on here gives me a lift if I need one. Would like to have a circle of friends who do this because them you can really chat over a glass of wine or a coffee. I would like to be able to compare notes on a local footing but otherwise I will just keep comeing back here.

Elwyn.D

PS. Footy's back!! Go Cats..

Jakk

19-04-2003, 07:32 AM

Originally posted by agent007

James, Don't be fascinated by my achievement, go out and better it, lots of others have. As for strategy, that really depends on the individual, what has worked for me might not work for you.
Funds are always available, seek and thou shalt find.
Not so long ago, I had real borrowing issues, not any more, it's amazing how a good broker can do magic, I have totally given away the traditional banks, their idea of property investment is that I take all the risks and they make all the profits, this sort of arrangement doesn't suit me.
How can you do it?? make a start and keep going and stay FOCUSED, never lose sight of what you want to achieve.
Time required.......as long as it takes, once again stay focused.

Originally posted by handyandy
[B]Hi Jakk

Great story!!:) Can you eleborate as to the mix of properties and type of locations, Capiatal cities country etc.

From previous posts you called yourself the slumlord just wandering where that originates.

Cheers

mix of properties.......mainly 1 and 2 bedroom flats, 4 commercial properties (shops), 6 industrial (group of 4 factoriettes and 2 self storage complexes) 3 nearly derelict houses that will be redeveloped (townhouses/units) over time and a few parcels of vacant land and 1 PPOR that will be buldozed later this year for 3 townhouses. all located outer east of melbourne and beyond.

The slumlord tag actually originated from this forum, TW used the term in reference to one of my posts and I just adopted it.

Originally posted by Kristine..
Dear Jakk

Although I find just about everyone and everything on this forum inspiring, there is something about what you say and how you say it, which always seems to flick a switch for me.

.....make sure you turn it off on the way out

I have been wallowing about in self pity the past couple of days since VCAT, where the objectors to my clinic application decided to make personal comments about me, and when I defended myself, the Chairman reprimanded me rather harshly. (Think: et tu, Brutus?)
Ahhh VCAT, I am starting to know everyone by first name there

..........and I really can't listen to stories about how awful and wicked real estate agents are (being one and really proud of my hard worked for licence).
awful??, wicked???.... surely people don't really think that of us
So I appreciate your posts, Jakk, and your droll sense of humour.
Droll??? ...and I thought we were getting on so well

Thanks again

Kristine

Originally posted by asy
I remember that!!! It was a great chat session Jakk, I think I have the logs here somewhere...

I remember my first time in the chat room... TW pounced on me too!!

Not many ppl know this, but that's how I got the 'asy' nickname...

lets clarify this, is it Assy or Asy?
asy :D
Originally posted by elwyn.d

PS. Footy's back!! Go Cats..

Hey, I live across the road from Gary Abletts Mum

and to everyone else that has sent me private messages, I will reply soon

regards

itinerantotter

19-04-2003, 08:24 AM

Rick - you said "I haven't been the source of the spark for anyone yet. I get most of my inspiration from this forum and I'm sure a lot of other people do as well."

I experienced being the source of the spark a few days ago - and what a buzz!!! I ran into an acquaintance (he works in one of my favourite coffee shops) I hadn't seen for a while. He came up to me and said "I'm on my way! You were right! Thanks so much for starting me in the right direction!" We had chatted about what my husband and I were doing and the sources of our inspiration (Somers/Kiyosaki), and I had (at his request) provided him with a reading list.

'Property' is not a subject I introduce to a conversation when I'm not with the 'converted'. It sounds like I'm bragging - which I'm not. I get really fed up with the responses "you're so lucky" and "I really should do something like that", especially when they come from the same people ad nauseam. If someone really wants to pursue the matter I'll give them all the help they could desire. But I always say they must do a heap of reading first - and hit them with my book list - and now I recommend this forum as well.

It's really wonderful to talk enthusiastically about our achievements with like-minded people, and not have eyes glass over or turn green!!

A bonus for me is that both of my (adult) children have been absorbing 'property' talk and are also 'on their way"!

Jakk - my hat's off to you!!!!

Cheers:D

Kevin Hockey

19-04-2003, 09:16 AM

Thank you Jakk and everyone who has posted here, it's been fascinating reading. Great to see a few other agents coming out of the closet too.

I loved the way Jakk put it. "Don't be fascinated by my achievement, go out and better it, lots of others have". We should never limit ourselves, life is full of endless possibilities. We can be or have anything we want in life.

I had a furniture business before getting into Real Estate. I manufactured at first until I realised I could only make so much in one day. If I just retailed I could sell as much as others could make in one day. It's one reason I love selling, the possibilities are endless and there is no limit.

Has anyone else noticed the same ingredient in forumites as I have. We all seem to read a lot. It's the power of knowledge. I encourage my boys to do the same. I gave Richest Man in Babylon to my 10 y.o. the other day but I dont think he has started it yet. He loved Who Moved my Cheese.

Have a great Easter guys.

Kev

www.nundahrealestate.com.au

P.S. John McGrath said to me once "Success is not in the learning but in the implementation".

MLC

19-04-2003, 09:26 AM

This is a first post from someone who is a recent "convert" to investing.

I started on a new project a few years ago and sat next to a very addicted property investor, who bored me to tears about how I could buy a house and make money "without costing me more than $50 or so a week".

I listened.... more often I was mearly nodding my head and thinking about who I was meeting at the pub after work. This fellow was extreamly anoying, so off cause we became good friends but I was still no "convert".

Two years passed and he kept buy houses (actually he bought 4), I earned more money than him so how did he do it?

The penny dropped!

I bought my first IP last year and I settle the second IP on the 9th May, a few rough calcs and after I pre-pay next years interest and get my depreciation sched done I expect I will do better than $50 per week.... may even be positive after all the tax breaks.

I find myself this year on another project sitting next to another guy who I bore the tears out off talking about investment property, he nods his head but I think he's planning to meet someone at the pub after work.

Somtimes someone listens, the best part is my freind who got me into IP's is now my mentor. Instead of starting at the bottom learning from mistakes I have the benifit of his knowledge and can start with as many years experience as he has.

Enjoy the break.

MLC

petercro

19-04-2003, 10:10 AM

A big hello to all from yet another virgin poster!

I cant exactly remember how I made my way to this forum but am very greatful that I have.

I was one that was always sitting on the sideline being the sceptic thinking that you had to work 100 hours a week (usually for somebody else) to get somewhere and that strategies whether they were involved in shares or property would never work.

For the last couple of years I was being told by a friend (who I now classify as my mentor) of how he became a succesful business owner and investor......... but was under the infuence of MLC's pub syndrome.

I have had a big turn around in my way of thinking just recently which has come about by reading books, posts on forums, attending a couple seminars and talking to "like minded people"!!

I have an investment property and am looking forward to expanding my portfolio!!!

Anway thought I would add my two bobs worth here and hope to contribute to the forum.

Happy Easter!!

Peter

steven

19-04-2003, 10:12 AM

Thanks Jakk for the reply to my pm, and sharing
your wonderfull story with us all,
And a big thank you to each and everyone on this forum.
Happy Easter
Kind Regards Steven.

Dose

19-04-2003, 01:13 PM

Everyday I come to this site to read what like minded people have to say. I don't post much but I learn so much from reading everyones posts. We have friends who have one investment property each but they are very conservative and very negative when you suggest things outside their own comfort zone which is completely understandable. You would not believe the negative response we have had from them when we suggested they might be interested in Steve Navras course.
So now I just log on to this site and read and learn. I'm the reader and my husband is the doer. We try not to bore people with our interest in property investment anymore (though sometimes its hard not to).
We have 4 IP's in Geelong Elwyn.d but would like to dip out toes in Melbourne or Brisbane next.

Kevin Hockey

19-04-2003, 03:59 PM

Originally posted by Dose
We try not to bore people with our interest in property investment anymore (though sometimes its hard not to).
We have 4 IP's in Geelong Elwyn.d but would like to dip out toes in Melbourne or Brisbane next.

You have to give to receive, if you give your opinion you will receive someone else's. We all decide what information we want to accept and that's better than nothing at all.

If we do nothing - we may as well go to a funeral home and wait.

I urge everyone to get involved, don't be shy. God knows Brains has given me plenty at times on this forum but I don't mind. I've learnt from him too. And I don't mean just here either, any time you have the opportunity to discuss wealth creation take the opportunity to increase your knowledge.

Dose, I look forward to your next post.

Kev

www.nundahrealestate.com.au

Sunstone

19-04-2003, 07:38 PM

Dear guys,

What a response! Certainly this has turned into one of the best threads for a while with a heap of great posts. Thanks for all the quality efforts from the many people who have posted.

Surrounding yourself with likeminded people? You betcha. It pinpoints the importance of this forum, encouraging the people that you meet through it and getting out there and going to the real life meetings that are happening with groups in each of the local cities. Here is the place to find likeminded people and challenge yourself to do more.

It helps with your own indominitable drives to achieve your own objectives of financial freedom, but energy from others helps recharge your batteries when they need topping up or for helping us all when occassionally things don't go the way we want them to. The ability to tenanciously hang on and keep trying until you achieve it is not only a skill but in some ways a virtue.

The energy you gain and give from contributing and reading the posts of the many great people on this forum is certainly what I consider an important part of my life.

Heres to "Soaring with the Eagles" whilst keeping a reasonable SANF intact.

Cheers,

Sunstone.

brains

20-04-2003, 06:20 AM

Originally posted by Kevin Hockey
You have to give to receive, if you give your opinion you will receive someone else's. We all decide what information we want to accept and that's better than nothing at all.

If we do nothing - we may as well go to a funeral home and wait.

I urge everyone to get involved, don't be shy. God knows Brains has given me plenty at times on this forum but I don't mind. I've learnt from him too. And I don't mean just here either, any time you have the opportunity to discuss wealth creation take the opportunity to increase your knowledge.

Dose, I look forward to your next post.

Kev

www.nundahrealestate.com.au

Thanks for the mention Kevin, i think i have criticised the real estate industry in general rather than you in particular, im not into personal insults. And you would agree yourself the RE industry needs some cleaning up.

Id also like to say that while i agree surrounding yourself with like minded people works for some people, particualrly those that need extra motivation when things arent going so good as a few posters have mentioned here.

I think most really successful people dont go along with the herd mentality, they think differently to most of the population, they are free thinkers, individualistic, even iconaclastic in their approach to life and business.

The pursuit of success is their life,and its just not an option to think of giving up or getting down when things arent working out, as that would be like giving up on life itself so theres no need for motivation from external sources, its all inside, if its not it should be.

As to trying to convert the pagans, i think its a waste of time. If people want to be successful they will do it regardless, what i say to them wont make any difference. Even tho i used to explain what i am doing with property to some friends, their response is "its far too risky". So i gave up on that.

I dont think theres any right or wrong answer to Sunstone's excellent, thought provoking question, just personal opinions and as usual im going against the grain with this thread, but thats ok.
Its just the way I think.

itinerantotter

20-04-2003, 10:36 AM

Brains, you said "I think most really successful people dont go along with the herd mentality, they think differently to most of the population, they are free thinkers, individualistic, even iconaclastic in their approach to life and business.

The pursuit of success is their life,and its just not an option to think of giving up or getting down when things arent working out, as that would be like giving up on life itself so theres no need for motivation from external sources, its all inside, if its not it should be."

I wholeheartedly agree with this, particularly "it's all inside".

But I also strongly believe that our good fortune (despite the fact that it has come from a lot of hard work and sleepless nights and not just the Capital Growth Fairy) should be shared.

After a lot of wasted breath, I'm now more reactive than proactive in "converting the pagans" - so the first approach has to come from them, but the door is always open.

Cheers

:p

WillG

20-04-2003, 10:46 PM

Great post,

After reading the Rich Dad series of books I learned a couple of things.. One thing in particular relates to this thread.

Kiosabi talks about 'giving something back' when you have made it. Filanthropy (probably wrong spelling ... who cares)

I try to 'drop hints' to my friends and family that may help them see what property investing can do for them. Some people aren't worth the effort so I dont bother. By doing this I have found several colleagues(from my day job) I regularly talk to about investment ideas (several of them use this forum). Other colleagues often ask me 'how many properties do I have now' for a joke. Other colleagues have come to me several years later wanting to know more about investing.

This forum has helped me with tennant problems, organising finance, identify a good deal from a bad one, renovations and countless other things. I carry around financial calulator and have an IP spreadsheet on my palm pilot ready to do the numbers on a deal at a seconds notice (sick I know)

I hope somebody gets some value out of my posts.

Cheers,
Will

JoannaK

21-04-2003, 08:42 AM

I am so impressed by the quality of this thread, and the number of "lurkers" who have come out of the woodwork - congratulations and thank you to everyone!!

Me personally, I have no one to discuss my ambitions, intentions, strategies, difficulties with other than my husband, and I find it extremely frustrating and difficult. My friends and family, no matter how much I try to explain, just don't get it (except for one of my sisters who is about to start developing with her husband), so I've gotten to the point where I just couldn't be bothered anymore. I dream, I strategise, I develop myself on my own, in my own mind.

I need to bounce ideas off people, I need interaction with others, and I need to get ideas from others....

So all of you who are in the same situation, when you see someone post about a get together close to you....GO!

Go and meet these other forumites, you will be welcomed, and you will meet some great people, and you will get that interaction and likemindedness that you thirst.

sbe

22-04-2003, 11:42 AM

Great Thread.

I've had the priveledge of seeing one of my friends get into property. He was around when I bought my first one (are you crazy!! Young kids, etc, what are you thinking!!).

He was around when I bought the next one.

Then 2 years ago, he rings me up all excited - he's noticed after 3 years, I haven't crashed and burned, so he's getting his first one.

Last year, he bought his second, around the same time I got my third.

Of course, in the same time, my brother keeps talking about it......and talking about it......

I haven't told him I have any yet, cause until he's serious, there's not much point.....

Two different experiences....

Encourage those who appear interested. Spare those who aren't. Keep yourself encouraged regardless.

Thankfully, my wife shared my addiction.......

Cheerio

Simon.

natmarie73

22-04-2003, 12:04 PM

This IS a great thread.

But has anyone else had the "experience" of defending their choice to invest, in particular invest in property? Has anyone had people inferring that they are being "distasteful" by wanting to accumulate assets? I have. Not from a friend of course as they wouldn't be considered a friend for long but from an acquaintance who was a friend of a (non-investor) friend. this person was appalled that I wanted to have more and more assets and even when I explained to her that I didn't intend on surviving on the pension she got very huffy and said that money isn't the most important part of life (etc etc blah blah blah).

Like others have said, you can't preach to those who refuse to be converted so I just kept my mouth shut and smiled politely and made it a point never to be in the same room as this person again. Thankfully, I have found that since becoming a property investor, many like-minded people have crawled out of the woodwork - 3 fellow workers also have property, my sister and her boyfriend are investors now and a few of my friends have also purchased houses and are keen to buy investment properties as well.

The information and knowledge found here on this forum is invaluable to beginners like myself and I thank each and every one of you who are generous in sharing that knowledge.

Nat:)

itinerantotter

22-04-2003, 12:45 PM

Nat said "But has anyone else had the "experience" of defending their choice to invest, in particular invest in property? Has anyone had people inferring that they are being "distasteful" by wanting to accumulate assets?"

:mad: I sure recognise this!!!! We have often been accused of being greedy ("don't you have enough yet??"), despite the fact that this is our super. As you say, Nat, these are not true friends; real friends understand in principle what we are trying to achieve and know that we're not just being covetous.

Cheers

Gladstone

22-04-2003, 02:04 PM

Great thread

I have experienced both sides of the coin. Having paid off ppor and read all the Richdad, Jan Somers etc books it was time to start looking for ips. When I found IP1 one of my work colleagues comments was "you're beeping mad the tenants will wreck the beeping place" I replied that I was looking to accummulate assets for my family and the conversation deteriorated from there.

The other side of the coin is that I have like minded friends who have had similar experiences so we generally talk property in each others company only. If the 4 of us are with other people we don't talk property at all because we are all sick of defending our position.

From this there are 2 bits of common wisdom I follow with IPs

1. Don't argue with fools (author unknown)
2. When feeling a lack of direction coming on ask yourself are you are wimp or a warrior ( Robert Kiyosaki)
I feel in wimp mode at the moment as I am stuck at IP No2 trying to progress to N03 and beyond. This forum however is inspirational.

Regards

always_learning

22-04-2003, 02:04 PM

I must admit that if I say I have a goal of being "financially independant" then some (most) people start giving me the: dont get greedy line.

What are these people thinking? " Financially independant = BAD, Financially dependant = GOOD". Being dependant on your job and then handouts from the government is somehow noble and good! BUT to seek to be able to live your life as you want without expecting a free-lunch at someone else's expense is being a greedy *******.

However because I was brought up in a family which thinks this way I will try to give their version of reality: "There is a limited supply of money, the only way to get more money is to take it at the expense of someone else, and the easiest target is poor working class battlers", thus to be financially independant in many respects means living off the backs of the working class". So in comparison to being a parasite of the noble workers, it is much better to be living off the unlimited ablity of the government to print pension cheques.

I choose to believe that since we live in a capitalist system we each have the obligation to seek financial independance. I dont mean financial independance by theft, fraud or deception, but by adding-value, finding a better way, taking something of lower value and with our thoughts and labor creating something of higher value and in doing so contributing in a small way to society.

elwyn.d

22-04-2003, 02:13 PM

To Gladstone42
I think the full quote runs " Don't argue with fools, they will bring you down to thier level and beat you with experience" (lol)
Good luck son we are at least heading in the right direction.
Elwyn.D

natmarie73

22-04-2003, 02:20 PM

I think it's the good old "tall poppy syndrome" raising its ugly head - if you strive to do well for yourself and your family and aren't satisfied to live off government handouts or a low-paid factory job you are automatically labelled a money grubbing, greedy capitalist pig.

I totally agree with always_learning. Most people seem to think that you can't be rich and successful without having ripped someone off or stolen someone elses money. Perhaps the media have a lot to do with it, and perhaps it goes further back to the bible - ie the love of money is the root of all evil or whatever.

Nat

crusty

22-04-2003, 02:26 PM

This is a great forum, i enjoy reading and learning from people who sound very smart and are not trying to sell me my own business ???? I have my own business 5ips and growing and i am very busy learning new ways to finance to buy and to generally accumulate a lot more and with the help of this forum i am sure i will get there a lot faster.
I try not to tell anyone about my ips I find it better that people know as little as possible about how and why you invest .
I invest so that what all my freinds have now flash cars huge houses $8k fridges i can have later on + more delayed gratification i think they call it.
I hope to buy 2-3 more soon just organissing finance and then i will be ready to go on my way to 50?????

Keep these great threads coming .

Crusty

perky29

22-04-2003, 02:29 PM

Top thread this one,
In the middle of last year there were retrenchments here - something that had never happened before.
My wife and myself discussed this, and agreed she would need to start working (at home, doing Family Day Care) just in case my job was to go....(although it would not be enough, it would help) -this is the state of the IT industry today - India getting the work that can be done here - and a lot cheaper.
I figure in another 5 years I might just have enough to get on by if retrenched (through buying IP's , doing wraps and maybe with a little help from Metropole) - but every day I come to work hoping to keep my job for a bit longer.
This forum has been a great source of information and inspiration - reading posts from "like-minded-people" that are here, getting help from great people like Rolf and Dale/Dales office and others.
This is definitely my number 1 obsession at the moment !!!
Thank-you everyone!!

Rickardo

23-04-2003, 05:46 PM

Hi Guys,
I have also been reading these forums for quite a while, just decided to register and start posting tonight.

Great post always_learning, the average person doesn't understand why people want to be financially independent, and therefore people who invest are often branded as greedy and selfish. They are entitled to their opinions and that's fine, however for people like us who love to invest it is always benificial to be talking to like minded people, it gives us added motivation and inspiration. I'm glad i found these forums as i now have many like minded people to talk to and learn from.

hobgoblin

23-04-2003, 06:54 PM

Hello Fellow Forumites!

Is there really such a thing as an $8k fridge??!! How bizarre!

My motive for becoming wealthy through real estate is about animal wefare. I intend to become financially free so that eventually I can spend ALL of my time and money working with animal charities such as the World Wilflife Fund and the RSPCA. On my death, these two will then inherit 100% of my assets set up in a trust fund, so that they NEVER run out of money!

All significant philanthropists in the world are wealthy people. You cannot help others until you first help yourself. I will never feel guilty for wanting more than I currently have or more than my parents had. Even if I didn't have such ambitious plans for wanting to stop animal suffering the world over, the least we can all do for our community is to become financially independent so that we are not reliant on the taxpayers money in our retirement!

I hope to meet some of you at the next Sydney gathering!

Hobsie :D

always_learning

23-04-2003, 07:30 PM

I was in an electronics shop in Japan and there was a $15K fridge, links to your sony blue-tooth mobile phone or something and this allows you to control your fridge should the desire overtake you during your long day at the office. I think the idea is the fridge can monitor your beer supply and order more by itself. The quote "You carn't get another six pack from an empty fridge" may soon be resigned to history.

Ned

23-04-2003, 09:28 PM

Great thread all.

I recall someone telling me a long time ago that they key to their success had been 'getting rid of money worries', so that they could do the things they really wanted to do (which in their case happened to be philanthropical).

This didn't mean to them that they would be super wealthy, or not have to THINK about financial issues, it meant that money was 'taken care of' so that it didn't rule their life, and influence every decision they made.

let's face it.... we are all here because we want to be financially successful and independant, however that is not necessarily what we 'aspire' to - most of us have dreams outside of property/investing that in many cases will make the world a much better place.

Unfortunately, for most people (me included at the moment), making money means losing time. getting to the position where this is not necessarily the case enables the expansion of our potential in many areas.

Its very hard (for me) to spend a lot of time with people who don't understand that the reason for making money is so that we can think more rationally and help make the world a better place. I'd like to be remembered for what I gave back, not for how much money I made..... but you can't do that properly until you take away financial stress as an issue

Ned

SEASON

24-04-2003, 07:09 AM

i am just glad Sunstone started this thread! thank you

i strongly believe in surrounding myself with likeminded people and always seek to learn/listen.

m an immigrant from a former communist country, i had to find people with "prosperity" psychology to interact with or succumb to beliving that you can't realise your dreams. in my experiense there are 2 types of immigrants:

1 focusing on the dificulties
2 focusing on opportunities

just couldn't see myself being part of 1st category......

i've spoke to many people who had thougher life than mine, yet they are way ahead of me - what an inspiration they are!!!

i m honoured to be part of this forum and thankful for all the forumites' contributions

SEASON

24-04-2003, 07:21 AM

i noticed this thread had been viewed over 2000 times, and only 46 replies.

there's obviously a lot of interest - what about posting more opinions forumites?

Macca

24-04-2003, 08:06 AM

Yes , but if I wanted to get ahead I would have to think and plan, I would have to take responsibility for my actions, I would have to be patient, I would have to limit my spending to what I need, my children would not get every little thing that is advertised, I would not be able to go on a holiday every year, I would have to give up smoking and my bottle of wine every night, it is my money and I want everything my credit card can afford NOW!! Sound familiar?

I am in my fifties, my wife and I worked hard and just kept buying real estate, we semi-retired 5 years ago.

We have one couple who are friends that we can talk to openly about investing, they are doing what we did, not there yet but they are a hell of a lot closer than they were 5 years ago. We are their inspiration to persevere, we never meant to be, we just did our own thing and told no one who wasn't interested. They were interested, already had one IP but were having doubts, talked to us, Wow!! we didn't realise etc.......they have 5 now.

There are a LOT of wealthy people in Australia, if you have ever read the book The Millionaire Next Door it makes you think. So many people seen every day just doing there own thing are quite wealthy, so many people with fancy cars and nice clothes are up to their A** in debt, maybe there is a message there.

Jacque

24-04-2003, 09:05 AM

Spot on Ned.
It really is all about having the choice and the freedom to make decisions about your life, unencumbered by money worries.
For some, this will mean being content with a satisfactory income for the rest of their earthly years. The annual holiday, the new car, the house by the beach, good schools for their grandkids etc.
For others, it means not only being comfortable but giving back to the community as well.
There are so many causes out there worthy of our help. I just finished reading "Mean Streets, Kind Hearts" about Father Chris Riley, the 'patron saint' of streetkids and I was totally humbled. Here is a man who, with no money of his own, has managed to turn the lives of thousands of abused kids around through his hard work and the donations of many generous Australians. As he points out, it costs the govt $157,000 a year to keep a child in a detention centre (where over 80% of them reoffend) yet $55,000 for the same time will get them through one of Riley's programmes, designed to rehabilitate. It's causes like this one that grab my attention and that I would like to eventually be able to help bigtime.
It may sound trite, but to be able to "give something back" is extremely important to a lot of people and money can achieve just that. Not all of us have time to volunteer or possess the skills required to help make a difference, but we can reach into our pockets and give.
Just look at some of the wealthiest people in Australia and see what they have done for charities and the community. Packer, Pratt, Dick Smith, just to name a few.Without wealth creation, the economy wouldn't have a large enough revenue base to redistribute money to the disadvantaged.
Paul Keating once said "Back self-interest every time. It's the only horse in the race that you know is really trying".
Sorry if I've gone off on a tangent here!
As for hanging around likeminded people to help achieve wealth, if it works for you, do it!

WillG

24-04-2003, 09:48 AM

I don't generally post more than once on the same thread but couldn't help myself.

It is obvious that the forumites who have posted on this thred have open minds and lots of interesting stories. Negativity is NOT a common theme. I would rather chat to people with such qualities than some of my negative friends.

Brenda Irwin

24-04-2003, 02:25 PM

Hi all,
I understand totally that family & friends don't understand
us & some are quite aggressive.
A witty retort to "the tenants will wreck the beeping place" is BEAUTY- insurance replaces old for NEW, place will be like a palace & I can get MORE rent!
Seriously though I love this forum, I am a much happier person now I can interact with Like Minded People.
Cheers from Brenda

Bushy

24-04-2003, 10:58 PM

Great thread ,I couldn't resist.
Macca we live pretty simply like the start of your post and I don't think much will change when we are super rich. I think the most valuable asset is quality time (family, kids school involvement, community, charity). At the moment we are doing renos and tapping into a bit of the increased equity so I have lots of quality time.
I used to try and tell everyone about the magic key that I had stumbled across,but have since found out it can turn people away from you . Even at family functions we no longer mention the " P " word that ends with a " Y " as we have noticed it devides the group. My brother is just about to start and can't get enough of it,and others feel inadequate because it's to hard for them so they will settle for the pension.
I used to throw the " P " word out to other dads at school or kids sports on Saturdays to see if they were interested - but they weren't, to risky ,not for them.
Nowdays when I'm over at the school or doing my bit around the place I seem to always get asked "Aren't you working,I know someone who needs some electrical work" I used to answer " No and I'm not looking for work". I would then count to 3 - get a dumb look from them and then they would say "how do you survive" .I used to try to explain but these days it's much easier to say that I work shiftwork on weekends, which I do sometimes.
I throw out the odd line but have all but given up. I've got a few friends that are into property so I get my fix when we catch up, but if I'm in need I just log on to this fantasmagorical site and soak it all up
Cheers Bushy

wbthom

25-04-2003, 08:38 AM

Fantastic Thread!!

WillG wrote
It is obvious that the forumites who have posted on this thred have open minds.and lots of interesting stories. Negativity is NOT a common theme. I would rather chat to people with such qualities than some of my negative friends

As well as the lack of negativity there is a very positive thread seen in almost all on this forum. Each has taken some form of action to move toward what they want - even if it is only to start talking to like minded people.

Not so long ago I was one of those that knew what needed doing but hadn't got around to it yet - the ideas and comments on this forum and the energy of people like Asy, TW and Jakk spurred me to action. I only have one IP at this stage but it won't be my last.

Like many here have said I also have family and friends who are very negative about property and investing and I echo other's comments in that it is not worth wasting your energy to reach people until they are ready to listen - better to put that effort into your next IP!!!

Bill

Jakk

25-04-2003, 10:03 AM

Originally posted by wbthom
Fantastic Thread!!

I only have one IP at this stage but it won't be my last.

Bill

Go Billy Boy,

and by the way, I still have your book, I think,... hopefully catch up soon so I can give it back.

regards

Donna L

25-04-2003, 10:14 AM

Having come from Christian circles I am very familiar with the "don't be greedy" phase. It was very popular in the seventies and eighties for people to embrace "simple living" banding together in group houses and sharing everything including income from low-income jobs that were socially acceptable. I have come to think that apart from a few exceptions this is just massaging a middle class sense of guilt about being born into a first world country. When I mentioned investing in property or shares I was called a parasite. To me, however, it is much more important to have a renewable asset base which can provide ongoing assistance than a band-aid one-off donation.

Some years ago I heard a story about a couple who ran a very successful business and attended church regularly. They were constantly being bagged about their business and long hours they spent there and how they were just building up riches for themselves. Finally, they decided to sell their business and most of their assets and they donated the proceeds to rebuilding the church building which was falling into disrepair. Suddenly they were praised for their generosity, their return to the simple lifestyle, stories about rich men and eyes of needles etc etc.

Within a few months, however, the Church began noticing that the weekly donations were going down and that their social programmes including child care centres, holiday centre, aged care, etc were running out of funds and they had to close some of these down which catered to many poor people in their local community. On further investigation, it was revealed that the big drop in weekly donations were due almost entirely to the business couple who had donated about 10% of their earnings each year (to the tune of about $50,000 a year). They were encouraged to return to their business. They rebuilt the business in about twelve months, the regular funds returned and the programmes recommenced. No longer were they abused for doing what they did best.

So next time sometimes admonishes you for building wealth and that you should be satisifed to just have enough for yourself just suggest that this might be a very selfish point of view and if you can make money easily then do so and if you don't need it or want it, try giving it away to someone who can use it. That $100 profit on a share trade may mean nothing to you but a dinner out at a restaurant. In East Timor it is enough to establish a business that will support a whole community - people who earn less than $5 a day. To me there is a sense of poetic justice in having shares in an alcohol company and donating the dividends to Missionbeat or Alcoholics Anonymous. It's one way of getting these companies to donate funds to repair the damage that can be caused!

(Hops off soapbox)

always_learning

25-04-2003, 11:13 AM

Originally posted by Bushy
.....Nowdays when I'm over at the school or doing my bit around the place I seem to always get asked "Aren't you working,I know someone who needs some electrical work" I used to answer " No and I'm not looking for work". I would then count to 3 - get a dumb look from them and then they would say "how do you survive" .I used to try to explain but these days it's much easier to say that I work shiftwork on weekends, which I do sometimes. I throw out the odd line but have all but given up. I've got a few friends that are into property so I get my fix when we catch up, but if I'm in need I just log on to this fantasmagorical site and soak it all up

How about that, you have to basically lie about the way you live your life, just to avoid the sticky problems of people unable to accept reality. ie. they believe so strongly that it cannot be so that when confronted clear proof of the opposite they question it or just refuse to believe it then finally give you the "dont delude yourself" look.

Sometimes I read/listen to people say the Jan Somers (lets call it the basic buy, hold utilizing negative gearing at the start) strategy is flawed and doenst work etc. How about that, a refusual to accept reality of countless reallife examples, their thought process must be "if it is true then I should do it, but I don't want to do it thus it mustn't be true" , Jan actually did it many thousands of others have done it, it's not a hypothetical situation she writes about.

RPI

25-04-2003, 01:39 PM

Excellent thread

CAUTION: Long response that may border on philosophy!!!!

I think a lot of why people do not support you in the field of property investment, financial independence is their not taught anything about it in school or at home. More importantly many people are'nt expose to positive environemnts where they are told encouraged to take risks, to dream and acheive.

At school were taught to work hard get a good job, work till we're old and then rake out a meagre existence in retirement. You might here about striking it rich by winning the lottery, or inventing a new product or maybe even playing the stockmarket. We are also taught (through competition with our peers) to act rich when we're not. "they must be rich, look at the car they drive, or they watch they wear etc. etc etc." No where are we taught that anyone can do it, you just have to choose.

As a teacher I deal with heaps of kids everyday that have so much opportunity and talent. But mum and dad are on the dole, their grand parents have never worked so to them even the idea of pursuing school to get a good job is worthless, let alone the idea that you can choose to make yourself financially independent. By the time they get to high school for 90% of cases we've already lost them. Yet even those from the worst background have dreams and ambitions when they are in year 1.

From my experience in disadvantaged schools and interacting with disadvantaged families and communities it is the negativity about everything that kills the dreams. It must be near impossible to acheive anything when you never hear a positive thing. When I go to functions/ social gatherings in these sorts of environments the majority of all conversations are based on complaining and negativity. It appeas that many of the people that I meet in these situations can't converse unless they are complaining.

Yet amazingly we do have many successes, every year we have students they come from terrible circumstances they get apprenticeships or go on to TAFE or Uni. Somehow they manage to achieve this things with so many negative people around them. Imagine what they could acheive if they were surrounded by people as positive as those on this forum.

As 3 men one sang (in the most dire of circumstances) always look on the bright side of life: - Monty Python

Keep up the positivity

Darryl

Sunstone

27-12-2003, 11:12 PM

Dear guys,

It's good to revisit important areas.

What steps have forumites taken to "Surround themselves with likeminded people?" in the last 12 months?

How would you review your results of this? Would you do anything differently? How could this be done better?

Cheers,

Sunstone.

Robyne

28-12-2003, 10:15 AM

Well, I joined this forum!

Have enjoyed it so much that I had to give up going on the chat room. I was spending too much time on the computer.

Also have a group of people we get together with to discuss investment strategies. We are all at about the same level but have tried different things. We call it the "Brains Trust".

I think investing is a bit like religeon, people don't want to have their deeply held beliefs questioned especially when there is so much riding on those beliefs, it can be very uncomfortable.

Don't really talk to other friends about property much unless they ask. Some people we know have investment properties and we do like to chat with them about the properties.

The forum is the main source of mixing with like minded people. I read and post and just tell my Craig (husband) all the interesting bits.

Robyne

Peter 14.7

01-01-2004, 05:39 PM

VG Thread.

I also joined the forum and am presently searching all the nooks and crannies of amazing comments, knowledge and insights. PS It’s like a video game but your learn.

FY interest a number of things caught my eye in this thread:

WHO ARE WE (Forumites) it seems a lot of us who replied are proposing to give benefits of investing to charity. Perhaps like the USA where wealth building is praised, we wealth builders also recognise our role to give back?

I am proud to say my wife this year handed her $1000 bonus to the RSPCA because we can afford to do it. Her action and this thread has made me realise I need to consider "who to give" as part of my future planning and structures.

I would like to see my properties retained for future generations and causes, not wasted by the relations.

WEALTH GUILT IN OZ? It is a real issue and a challenge to overcome. Thank you to all who put in your comments re your future plans.

My experience ....Having recently paid off all debts I decided to finally get my health in order (Atkins diet actually works by the way) and have lost 11kg of fat plus the benefits of stress and all that. BUT....a number of friends and contacts reply to this news with "what is it you do at the moment Peter?” "Well not a lot" I reply and it starts. You are made to feel like some leper because you are not scraping and scrimping to pay the bills. Some people don't even believe me and think I got some master plan happening behind the scenes.

Yes I have quickly leant like others here to adopt the keep a low profile approach and don't comment. As for telling them we gave away $1000! Where would you start!

HAVING THE RIGHT ATTITUDE is by far and wide the greatest advantage you can have to succeed!

To RPI you wrote:

"As a teacher I deal with heaps of kids everyday that have so much opportunity and talent. But mum and dad are on the dole, their grand parents have never worked so to them even the idea of pursuing school to get a good job is worthless, let alone the idea that you can choose to make yourself financially independent."

Thank you for writing this. My sister was recently widowed and your words confirmed my concern that without the right environment her children with suffer "negativity/welfare syndrome". I saw it growing up working class and how I escaped I don't understand. I thought by considering private boarding schools I was being snobby but you nailed it by highlighting it is the "environment/experiences kids have that influence their approach to life".

RPI do you have any books you recommend on overcoming this problem and building goals and financial sense into children? From the posts it would appear at 5 and 8 years old, now is the time to change their thinking and mindset. Thank you for this insight into how I can best help my Sister.

Regards
Peter 147

Bonsai

04-01-2004, 10:38 PM

Hi all you likeminded people jakk is a legend i have renovated two ips last year both +CASHFLOW & rented out need some inspiration to progress on this year settle one more in feb then reno again will look for another how can i talk with some of you people for inspiration

Jacque

05-01-2004, 08:33 AM

Bonsai,
Just join the chatroom (top right hand corner) and you should find lots of willing talkers! Best time is evening from about 7pm.

Bonsai

05-01-2004, 08:44 AM

Hi Jacque Thank you for the tip will try tonight

OPM-addict

07-01-2004, 05:34 PM

I must admit I am and addict of not only OPM but of this forum.

Every lunch I read threads and topics that I just can't discuss with a majority of my friends. They are of the opinion that its too risky and that you will come a cropper for investing so much money into property instead of shares or mutual funds.

It the herd mentality of these people I cant understand. Especially the university educated ones. So naturally I dont mention property to the neighsayers and non converted.

Then, I have other friends. The ones who invest in time and money into understanding property and finiance. These people inspire me. (Peter/Mark/Mel).

I looking forward to my finding, negiotating, purchasing and managing my 4th property.

Respect, Peace, Out.

OPM-addict

lowb

16-08-2006, 04:25 PM

Like others have said, the secrecy involved with IP is annoying but necessary:
-if you say "I have IPs so I don't work" that would attract attention
-if you say "I'm interested in IPs" that sounds greedy

The irony is that most of us work hard, read alot, and persevere while living more frugally, compared to the average folk.

littlevixen

18-08-2006, 01:20 AM

The irony is that most of us work hard, read alot, and persevere while living more frugally, compared to the average folk.

Great forum. Great replies and responses and the experiences of posters in this forum have been a fascinating read for me. Lowb is quite right...I believe most us work hard, spend a LOT of time reading books, newspapers, current affairs and forums. I've been addicted to my lappy ever since I've started reading investment forums and realised there are people with similar mentality and attitudes out there. I am yet to plunge into the property market, but I have had my funds invested now for a few years in the sharemarket. It evokes very similar responses from people. If I mention anything about it, then words such as 'money hungry', 'obsessed', 'fanatic' etc starts cropping up, so I just learnt to shut up and not bring up the topic unless I get asked directly.

Also, I will only discuss investment if people express authentic interest and a like-minded attitude. I've noticed that there are a lot of friends/acquaintances who ask me about how I invest but don't really attempt to teach themselves. I refer them to books and websites but then a few weeks later, they ask the same questions again, demonstrating that they didn't even listen to what we spoke about previously. Anyway, this has been great for venting out and just being able to express myself and say that forums would have to be up there among one of the better pro's of the internet (besides google, wikipedia, online banking and direct share trading :p )