Achievement thread

Discussion in 'Property Investment - Other' started by Les, 9th Jun, 2006.

  1. Les

    Les Member

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    G'day all,

    Some have mentioned having an "Achievement Thread" as a way of allowing us to showcase our achievements. Sounds good to me (I'm always an advocate for a bit of inspiration :D )

    My thoughts would be to have it at the top of this forum (as a "sticky" thread) where people would always get to see it.

    What about ground rules:- e.g.

    1. Should this be an uninterrupted thread - no "Well done" replies, no "How did you do that?" replies - just read it, and (if you wish) PM the poster for more details (perhaps - but do YOU want this?)

    2. Should it relate only to actual property deals committed to (i.e. the contract IS unconditional, and is going ahead) No "pie in the sky" deals need apply :D

    3. Should these only be current (i.e. Mar 2006 onward? If not, what?)

    4. Any others?

    Thanks to Ramone Johnny and Panda for the idea - now it's up to you (all of you) to say just how you'd want to see this presented. (I think) the idea is great, let's get it going. What should (and shouldn't) be included?

    Let's get it "up there" in the next 2 days (max) - get back to me on this thread and we'll make it happen (and also move the inspirational threads recently posted into it too). Woohoo !!!

    Regards,
     
  2. Kristine..

    Kristine.. Broker and Raconteur

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    Hi Les

    Yes, I think that's a good idea.


    1. Should this be an uninterrupted thread - Yes, otherwise the thread can become bogged down in details

    2. Should it relate only to actual property deals committed to - Yes, no waffle or wishful thinking

    3. Should these only be current - No, illustrating a good structure or how a deal was finally clinched is timeless. A thirty year old deal which has proved to be priceless is worth presenting as it would demonstrate the 'time in the market' principle

    4. Any others? - Perhaps 'Why' - why that deal, why that property, why do it at all?

    5. Definition of achievment - not necessarily world shaking deals, the common or garden variety help to indicate that there are deals aplenty if only we would look for them. Buying anything is an achievment and deserves a notch in the belt as much as buying the Hilton Hotel would do.


    Thanks for following up with this. We learn huge amounts by reading other people's success stories.

    Cheers

    Kristine
     
  3. alexlee

    alexlee Member

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    Great idea, Les.

    Just to make it easier to read, how about one project / deal / property per post? Split down into something simple like Where, When, What (type of property), Process (buy, develop, sell, etc), Lessons learned?
    Alex
     
  4. kissfan

    kissfan Member

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    Also think this thread would be great and inspiring for all to read.

    Just following on from alexlees' suggestion of 'lessons learned', it would be good to hear of any deals that you may have done differently if you could have your time again.

    Regards
    Marty
     
  5. geoffw

    geoffw Untitled

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    Perhaps it needs to be a forum, not just a thread?
     
  6. GIDDO

    GIDDO travelling member

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    Kristine quote
    3. Should these only be current - No, illustrating a good structure or how a deal was finally clinched is timeless. A thirty year old deal which has proved to be priceless is worth presenting as it would demonstrate the 'time in the market' principle

    I agree on this - by restricting it to post March 06 deals (or similar) we could miss a lot of good lessons. Also the qty of deals currently may be low due to market conditions - I am guessing.

    Yes i think "read only" format would be better than the other options. Although - is there a way to set it up so people can comment and ask questions other than PM? Maybe an allied thread?
     
  7. GIDDO

    GIDDO travelling member

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    Maybe GeoffW suggestion of a FORUM would be better.
     
  8. Les

    Les Member

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    G'day all,

    I'm tending to agree. Other thoughts I've had are these:-

    Should "Achievements" include any and all (i.e. not just investing)?

    Should we include achievements in lifestyle, parenting, academic, philanthropic, etc. rather than just investing? (Almost a "Chicken Soup for the Soul" roll-up) If a forum is created, perhaps it could have separate threads for each.

    And Giddo mentioned "read-only" but suggested an associate thread(s) wherein people can put questions. This (to my mind) would leave the original uncluttered, but still allow conversation, so could be workable. I'll need to check with Sim' just which way to jump here (the nuts and bolts part of HOW it can happen).

    Good thoughts all - please keep them coming,

    Regards,
     
  9. KL1

    KL1 Member

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    Great idea Les. My thoughts echo Kristine's.
     
  10. Jimmyjamjars

    Jimmyjamjars JJJ: He in the red suit

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    Just as long as it doesn't get filled with stories of "Bought 3 bedder for 95k and sold for 190k" as half the forum would have stories similar to this.
    For my mind, this post here : http://www.somersoft.com/forums/showpost.php?p=208418&postcount=63
    epitomises what an inspirational post is, I've been on this forum for a shade over 3 years, but this post is the first one I've printed out for myself.
    Use this as an example, not necessarily the numbers involved but the methodology that Dazzling used to start in the first place and grow the zero's as soon as he was able.
    By the way Les, I actually suggested making an inspirational sticky thread
    Here: http://www.somersoft.com/forums/showpost.php?p=208429&postcount=66
    & Here: http://www.somersoft.com/forums/showpost.php?p=211467&postcount=127
    but I guess I need to yell a bit louder ;)
    JIM
     
  11. Les

    Les Member

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    G'day Jim,

    Fully agree - that is one inspirational post.
    The request, though was for an "Achievements" thread/forum/whatever where people could post their achievements.

    Dazzling has certainly achieved !!! And has provided inspiration in so doing... But does that mean that smaller achievements don't deserve a place? And who decides just what is smaller or larger?

    Help me out here people - personally, I'm in favour of an achievements area where ALL who have achieved in a way that they feel others can benefit from can post accordingly. Or, do we limit this to inspirational posts only (in Jim's words):-
    Do YOU agree with Jim?

    Regards,
     
  12. emu

    emu Sticky-beak

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    I belive that the inner workings ( ideals, methods and reasoning) that us investors use to justify our decisions are priceless and more inspirational than the profits acheived.
    Les maybe some type of template could be used to focus on the how and why?
    I had a dream 10 years ago and if it wasn't for me pushing the goal post out further as i progressed, i would have achieved my dream earlier:D :D :D now it's just bigger:cool:
     
  13. GIDDO

    GIDDO travelling member

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    i think the forum should be for anyone who feels they have an "acheivement" of almost any sort relating to property investing whether it be a milestone with their grownup kids' financial education, a new savings plan for deposit, their first IP, their 10th IP, their 1st $m in equity or their new ferrari which is their reward for acheivement of their planned pathway. Even the acheivement of LOE, or maybe a new job that pays more, which will enable more investment.
    Re the insprational aspect I am all for inspirational posts, but we can all learn a lot from more mundane stuff as well.:D
     
  14. redwing

    redwing Progress Not Perfection

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    Maybe it could be done in an "Interview Format" with a series of questions posted and accepted by Forum Members here proir to beginning this process..so that each thread has a similar format when reading it and the poster knows what is needed/required when posting?

    Redwing
     
  15. Panda

    Panda Member

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    Hi all,
    I originally thought that the inspirations thread idea was a great idea. But after listening to the responses I think that a forum devoted to this would be even better.

    There are 2 main reasons.
    1. It allows people, who have actually done what it takes a place to share it with like minded people. This is not egotistical its recognition by their piers and can be very motivating to that person to continue to strive. A whole forum would allow more flexibility of achievements to be in other areas that lead to their property investing success, however, may not be directly related to property as such. However, in saying that I can see the value in keeping it real-estate specific only. After all this is about property investing.

    2. It would provide inspiration to other members no matter if they are just starting out or they are established. The reason a forum would be better is that people can ask questions (there will inevitably be lots of questions and so there should be I would have thought).

    A whole forum will also allow,
    - this site to operate in the same format rather than have one 300 page long sticky thread with a bunch of rules regarding posting
    - The size of the threads will be manageable even with qs

    Rules
    - I think there needs to be one main rule, and that is that it needs to be a real life completed achievement. The general forum can handle the idea type ones.

    - I tend to think that it should be recent achievements. The reason is that it will reflect the property market and conditions as it is now, not in the past. How that person did the deal inc structure etc can be questions to be asked. The answers would also take into account current conditions/new law or what ever

    I think that those 2 rules (particularly no1) will keep the forum very specific (with out to many rules), which is good for the forum as a whole as we have other areas that deal with the other sorts of topics.

    Also keeping rule number 1 will keep it firmly in reality and hence increase the value for all.

    Just my opinion.

    Cheers,

    Panda
     
    Jacque and Ruby like this.
  16. goddessk

    goddessk Member

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    I personally would like to see further back than the most recent deal. I think an investor's path is fascinating as to how they got started, how many properties they have, how they made each one happen and what sacrificies and learnings they made along the way to go from one to the next. The whole picture shares the experiences and provides the inspiration.

    I guess for me some extra detail would be great. If I use Dazzling's example, how did he manage to pay off a PPOR with two IP's under his belt? This just seems unbelieveable, or should I say unattainable, to me. How did he make it happen??

    I'd love to hear people's stories about how they made it happen for them and I think this would be of value to those who are just starting out. If this was a separate forum then we could probably have the detail.

    Just my thoughts....
     
  17. Dazz

    Dazz Banned

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    Hiya goddessk,

    We did it by being conservative with our PPoR purchase. Instead of going for all of the bells and whistles in a flasho suburb, we bought a simple but adequate (at that stage of our life with only 2 small children) 3x1 B/T house on a good quarter acre block in a pretty ratty area. The cost of the house was 96K back in 1998, so it didn't take too long to save up.

    If we'd bought a flash 4x2 in a nicer area for 325K like our friends did at the same time, we'd be just like they are now, with no investments and another 8 years of NTDD to pay off.

    My wife's deliberate choice of "putting up" with a basic house to start off with was the biggest difference and definitely the first 'fork in the road to wealth' between us and our friends.
     
  18. goddessk

    goddessk Member

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    Great effort Daz! Good on you. Obviously the sacrifices have paid off. I admire your choices to reach your achievements.
     
  19. rj

    rj -

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    Hey somone mentioned my name - I feel important! :D

    My $0.02 worth ...

    1. Go with the forum idea - geoffw is always right! :D
    2. Some peoples opinions of "achievements" vary. I gained 40kg at the gym - I consider that an achievement! I have also created and developed 3 online businesses - I consider those achievements too!

    Actually I dragged myself out of bed this morning and came to work - that in itself is an "achievement" :p

    RJ
     
  20. rj

    rj -

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    *bump!

    anyone else?