1million in Equity!

[Kennethkohsg]

Dear Andrew,

1. Well said and thank you for that thoughtful pearls of wisdom from John Ruskin.

2. Interestingly enough, both Anthony Robbins and Dennis Felix are also saying the same thing too -"to create wealth and then give it all away to serve others!" This philosophy resonates well with me as far as my present personal wealth creation path and life journey are concerned.

3. Thank you.

Cheers,
Kenneth KOH

 

[BayView]

Dear All,

1. From my recent listening to Anthony Robbin's tapes and reading the book, "How to Get RICH" by Felix Dennis, the late oil billionaire, John Paul Getty was once quoted as having said, " If you can actually count your money, you are NOT really RICH".

2. Both Anthony Robbins and Felix Dennis, whose present nett worth are reportedly said to be worth more than US$300 millions each in today's context, seem to be saying the same thing too.

3. I also find it interesting that both these 2 highly successful and "hand-on" entrepreneurs and self-made multi-millioniares, like Anthony Robbins and Felix Dennis, have specially qualified their esteemed views further by making the statement, "Becoming RICH, does not guarantee HAPPINESS".

4. Consequently, I believe that, beside measuring ourselves in the usual "$$" material sense, we can all be "RICH" in different ways according to our own life goals and aspirations, as long as we are presently and truly LOVE, doing the things that we have always wanted to do in our own life, on a daily basis.


Cheers,
Kenneth KOH

That's getting a bit too deep Kenneth. You need to drink more beer - like me.

Point 3 reminded me of the latest "Brittany" news;

This chick SPENDS $700k per month, on pretty much nothing of consequence except her house mortgages ($50k p/m) and she is fast becoming a trainwreck.

It never ceases to amaze me how people like her and Lindsay and various Rockstars and Sportstars etc, who are totally loaded with never-ending cash, can sit around and waste their lives snorting coke or whatever.

If (when) I have that kind of money, I'm going to have a massive world map pinned on the wall, and every day when I wake up I will put a blind fold on my head, hold a dart and throw it at the map and say "where am I going to go today?"

And on the way, I'm going to get out the cheque book and write another $100k cheque to some deserving charitable organisation, and personally deliver it, and pay cash for a $200k IP every month.

THAT'S how you spend that sort of cash.

 

[Kennethkohsg]

If (when) I have that kind of money, I'm going to have a massive world map pinned on the wall, and every day when I wake up I will put a blind fold on my head, hold a dart and throw it at the map and say "where am I going to go today?"

And on the way, I'm going to get out the cheque book and write another $100k cheque to some deserving charitable organisation, and personally deliver it, and pay cash for a $200k IP every month.

THAT'S how you spend that sort of cash.

******************************
Dear L.AAussie,

1. I guess you will be busy "jet-flying" around the world, to close your various business deals in person where required, attending charity functions/works as well as likely to be enjoying your/your family holidays overseas in full privacy as what many of these multi-millionaires are presently known to be doing.

2. I know that Anthony Robbins has his own resort area on Fiji Islands where he and his family regularly have their own family retreats there, to re-charge themselves from time to time.

Cheers,
Kenneth KOH

 

[Kennethkohsg]

Dear WinstonWolfe,

1. I fully agree with you in general that to safely keep the wealth generated is far more difficult than the initial wealth creation process.

2. Having said this, I do not subscribe to the concept of keeping wealth/monies for the sake of enriching ourselves indefinitely;- for MONEY is meant to be circulated, rather than to be hoarded for personal selfish use. This is as per my present understanding concerning one of the mysteries regarding wealth/monies.

3. I have further read/learnt that Money is also a poor Master and but a good Servant and when it is put into good use, the Money will circulate itself and return back manifolds to its rightful/deserving owners, who are its good stewards and adept in their money management skills.

4. For your kind update and further comments/discussion, please.

5. Thank you.

Cheers,
Kenneth KOH

 

[kissfan]

3. I also find it interesting that both these 2 highly successful and "hand-on" entrepreneurs and self-made multi-millioniares, like Anthony Robbins and Felix Dennis, have specially qualified their esteemed views further by making the statement, "Becoming RICH, does not guarantee HAPPINESS".

2. Interestingly enough, both Anthony Robbins and Dennis Felix are also saying the same thing too -"to create wealth and then give it all away to serve others!"

On point 1, I wonder if Anthony Robbins & co would make these comments if they weren't RICH .

On point 2, yeah right.......give it all away. After we have milked millions of punters worldwide and built our lifstyles up to where they currently are, then we'll donate something to charity

 

[willair]

Why are you not making money in Brissy property market, from reports I have read it is a rising market??

MTR, I'll put my hand up i have made money in C-G R/E this year like the same for the last 15 years,it's just for the last 5 years we sold downand all the profits went into the ASX, but property is still the main core of the investments always will be,when property is flat you just branch out into the other areas,that's what i like about investing every generation see things different..willair..

 

[WinstonWolfe]

Dear WinstonWolfe,

1. I fully agree with you in general that to safely keep the wealth generated is far more difficult than the initial wealth creation process.

2. Having said this, I do not subscribe to the concept of keeping wealth/monies for the sake of enriching ourselves indefinitely;- for MONEY is meant to be circulated, rather than to be hoarded for personal selfish use. This is as per my present understanding concerning one of the mysteries regarding wealth/monies.

I wasn't referring specifically to keeping it personally Kenneth, but in the sense of defending community or country wealth against foreign invaders......

In all the wealth creation philosophy of the last 50 years, I note a distinct lack of addressing the pervasive historical precedent of countries forever fighting over scarce natural resources.

Recent examples are Iraq invading Kuwait, Libya invading Chad, Russia claiming the north pole.


3. I have further read/learnt that Money is also a poor Master and but a good Servant and when it is put into good use, the Money will circulate itself and return back manifolds to its rightful/deserving owners, who are its good stewards and adept in their money management skills.

True.....I have had the high life in the past.....but it's a sorry excuse for the meaning of life.....one can only consume so many nights of dining out, so many bottles of wine, so many km's in luxury cars.....health, love, friends, knitting a few more stitches of trust to create a richer and stronger social fabric....that's the stuff of a life well lived.....and no ferrari or waterfront mansion is ever worth sacrificing those things for.


4. For your kind update and further comments/discussion, please.

5. Thank you.

Cheers,
Kenneth KOH

..................

 

[HandyAndy888]

Alexlee...I was thinking along those lines too.

I have 1.3million in equity if I include my PPOR. I was looking at what to do next, was that it? and how to create passive income so I could stop working at a job I did not particularly want to do anymore. Have been looking at a few options which include:

1. Buy a small business franchise. The one I was looking at was worth about 400k to purchase, with a return net profit of 100K (with a manager in the shop), 150k (self-managed). Purchase 3 franchises, put 3 managers in them and you should have a relative passive income of $300k a year (tax will have to come out of that). Still not bad for investing 1.2million!

2. Sell all my properties and put it in the bank at 6.5% = $84500 per annum minus tax…for doing nothing! but I would also have to rent or borrow to buy a PPOR!...probably not the best option, but then it depends on you needs?

3. Do nothing, keep the properties going maybe buy more get more debt, work more??? Yes it should in theory all be worth 2.6million in 7-10yrs…then what? Do you just keep working etc etc…That’s 10 years more out of life!

In the end you have to decide how much is enough for the life you want…if living on a beach surfing all day is what you want…then 1.3 million in the bank and living in Thailand would do it nicely! Having a plan to make a million in 3 years is great…then what…3 years more for your 2 million? 9 years more, 20 years more…I guess the question has to be what makes you happy in the end? Having 100million in the bank will not make you happy necessarily if all you want to do is surf…sure it would be great to have etc…but if it took 50 years to achieve then you have wastes surfing time!… I believe someone wiser than me once said something to the effect that…you can’t buy time, not matter how much money you have.

Anyhow, I guess that the plan to have 10,20,30 million or 100 properties is not good enough in the end…you need to plan for what makes you happy after you have achieved some relative comfort in the equity side of life!..I don’t believe equity alone can make you happy.

Just feeling philosophical today…so my 2cents worth…

This is close to the smartest post I have ever read on this forum...congrats!!!

 

[markp]

This is close to the smartest post I have ever read on this forum...congrats!!!

I read that post way-back and thought well I can still buy property and do other things. That is what I do. Property comes in at number 7 as I have other interests that take up my time and which I enjoy doing more. You only have one shot at life sooner or later time becomes "of the essence".

I am not sure about having a plan for happiness. Happiness seems to be a by-product. It creeps up on you, a surprise, like a Christmas present. OH BOY!!

cheers

 

[Rixter]

This is close to the smartest post I have ever read on this forum...congrats!!!

I agree. I have been saying this all along.

The main problem I see is people dont set any ultimate long term goal to know what exactly it is they are wanting to achieve & where they are going. They just keep doing what they are doing and depending upon what it is they are doing some will be moving ahead and some will not be.

This being the case - if you dont know where you are going how the heck will you ever know when you have arrived??

Some food for thought!

 

[LynnH]

Agree, Rick!

Or, as a friend put it: "If I didn't know where I wanted to go, then I wouldn't know that I wasn't there." That cracked us all up when she said it, because it sounded so funny - but it is all too true!

Cheers
LynnH

 

[toony]

Rixter - are you involved with the property investors club?

 

[Rixter]

Rixter - are you involved with the property investors club?

No toony.....are you?

 

[rastus2]

Who knows? Perhaps he will clarify that comment.

Actually the more I think about it the thought of deflation is much scarier to me than inflation. Living off equity would be a whole different challenge in that scenario.

I think I will follow my own advice and go and look at what people were doing in Japan after their 1980's party finished.

Let me save you some minor amount of effort... the bears at GHPC have already looked at yields in Japan.

http://forum.globalhousepricecrash.com/index.php?showtopic=24174&pid=179134&st=0&#entry179134

Even some 18 years off their R/E boom, Japan real estate is no longer attractive to many local investors... yields are fantastic in an environment that had (until recently) insanely low interest rates (< 1 % !).
Why ? because so many people got greedy and burnt with the last R/E boom there...

Even the bears would like to picnic on > 10 % yields

 

[Brenda Irwin]

I now have over the $mil in equity (net) and it has occurred since I started investing in property in 1998.
I have had many goals and the funny part is, I got to each one faster than I thought.
Now I have set myself a really rediculous goal = $100,000 dividend in one cheque. That ought to take a while to get to...surely.

 

[Bangers]

Sounds like to me it's all about knowledge and buying in the correct area to yield an increase of 10-20%/year per IP.

 

[Kennethkohsg]

On point 2, yeah right.......give it all away. After we have milked millions of punters worldwide and built our lifstyles up to where they currently are, then we'll donate something to charity

****************
Dear L.AAussie,

Just like Bill Gates and Warren Buffet have donated millions away to do charity works and set a good example for us to emulate when we are as successful as them.

Cheers,
Kenneth KOH

 

[Kennethkohsg]

Sounds like to me it's all about knowledge and buying in the correct area to yield an increase of 10-20%/year per IP.

**********************
Dear Bangers,

1. Easier said than done! Theory and real life practice can be quite different at times!

2. Many new investors will need to pay some "tuition fees" to learn from mistakes too first, along the way, in order to become experienced property investors and to succeed and be profitable in all their property investing eventually.

Cheers,
Kenneth KOH

 

[BayView]

******************************
Dear L.AAussie,

1. I guess you will be busy "jet-flying" around the world, to close your various business deals in person where required, attending charity functions/works as well as likely to be enjoying your/your family holidays overseas in full privacy as what many of these multi-millionaires are presently known to be doing.

2. I know that Anthony Robbins has his own resort area on Fiji Islands where he and his family regularly have their own family retreats there, to re-charge themselves from time to time.

Cheers,
Kenneth KOH

sounds good to me.

 

[kissfan]

****************
Dear L.AAussie,

Just like Bill Gates and Warren Buffet have donated millions away to do charity works and set a good example for us to emulate when we are as successful as them.

Cheers,
Kenneth KOH

Hi Kenneth.

I think this post should have been directed at me, not L.AAussie.

My point being that it's fine for these 'gurus' to say "give it all away" when I would suggest that they only give away the same percentage of what they earn to many other people that are not as wealthy.

You mentioned that Anthony Robbins says to "give it all away" then in another post mention he has his own resort in Fiji. Why didn't he give that money away.

Anyway, don't wish to squabble with you over people giving to charity as I believe it is a great thing, just hope the ordinary punter keeps in perspective what these 'gurus' talk about.

Regards
Marty