Advice to your kids

[nads]

What advice would you give to your kids someday, when and if they become interested in property investing?
What are some of the things you have done that you would recommend to them, or what are some of the things you wished you had known at their age?

 

[Aceyducey]

Set goals first, research your markets thoroughly, always use inspectors, add value wherever possible & keep the end in mind!

I'd recommend being financially irresponsible for a few years - you've got to enjoy your youth!
- Just don't make it a lifetime habit!

Cheers,

Aceyducey

 

[Alan H]

1. You make money from owning good quality assets that are capable of generating growth and income..............NOT from working for a salary.

2. Ensure you spend at least a few hours a week working on obtaining/managing/refining your asset/cashflow situation.

3. If YOU don't make the time to learn the necessary skills to achieve the above, NOBODY will do it for you.

4. Understand the meaning of 'Compound Growth'.

5. Understand the meaning of 'Leverage'.

6. Know the difference between good debt and bad debt.

7. Realise that there are always others that can teach you things.

8. Realise that there is always more to learn.

9. Money can be a useful tool in life but keep it in perspective. There are many, many more important things.

10. Enjoy the journey as well as the destination.

........and many more.......