Comfort Zone
- Thread starter Liverpool St
- Start date
I know an investor on SS who has a $25m portfolio, i believe Lvr less than 20%, all in Cabramatta, Syd and 12 in Atlanta
Good for you Handy Andy
Yeah, I met handy a few years ago before he was in Atlanta. Well done there, with the weakening Oz dollar
LE
in the words of my mentor "why not do it now".
i said i wanted to start a business. now i have, and i know it isn't quite what i wanted so am recreating it.
it comes up over and over, you can always get more money but not always more time. yet few of us truly live by that.
there are a few free workshops coming up I'm attending designed to unlock your passion and creating a business around them if you're interested in joining me.
Two reasons. The first is because I'm selfish. I want to look after myself first before I start looking after someone else. If I was going to do something worthwhile and donate a large income of my money now, it would take me much longer to reach my goals.
The second is that it would also probably have a negative impact on how much I could help in the long run. If you build a house, make sure you build a strong foundation first.
I get that it seems so real and makes sense. now for a minute, consider that there are numerous limiting beliefs there.
I'm talking from personal experience, mine are popping up last few weeks like crazy since meeting my current partner.
I thought I was pretty open and free thinking then I met this girl who quit her job on Dec 24 (from a higher paying job than I've ever had).
she did this to focus on the incubator program she won a $40,000 scholarship for (she called them directly and registered 1 month after closing dates).
she then sold all her stuff and cancelled her lease. 3 days ago I was there as she sat and literally drew a picture of what she wanted by end of the week.
- house next to all major amenities
- gym membership
- office with city views and free amenities
- conference room
in those 3 days she has:
- been offered several free houses, and chose a gorgeous modern apartment in mosman for 2 months (I've seen it, NICE!).
- I'll confess I got her a gym membership (I get them really cheap from Anytime Fitness)
- access to several meeting rooms through Sydney, a free modern office in Town Hall with unlimited printing, and is now negotiating access to 2000 rooms internationally
- access to 2 conference rooms
- she has the CEOs of some pretty large organisations on call now
her new list includes free clothing from major brands and free flights.
it's incredible, I'm absolutely blown away. I was asking how she did it, and she simply said, thinking she couldn't get it was a limiting belief. really it is all in the mind. just need to focus on what you want.
and the first step is to actually ask yourself, if I was retired, what would I do. and then find ways to do it now, no reason to believe this comes at the cost of the lifestyle you want.
I must admit I was a bit torn by your post. On one hand I strongly agree with the philosophy of asking "How can I afford it" instead of saying "I can't afford it".
On the other hand though, it's good elements of The Secret in it, just ask the universe to provide and it will happen.
I believe that nearly every decision that you make in life as has an opportunity cost associated to it, choice A will be better than choice B in some aspects, but worse in others.
If doing good was my major focus, then yes, I could try and make it happen now, but it's not really. I'm still a little further down on my own hierarchy of needs.
On the other hand though, it's good elements of The Secret in it, just ask the universe to provide and it will happen.
I believe that nearly every decision that you make in life as has an opportunity cost associated to it, choice A will be better than choice B in some aspects, but worse in others.
If doing good was my major focus, then yes, I could try and make it happen now, but it's not really. I'm still a little further down on my own hierarchy of needs.
I apologise if it took one much further out of their comfort zone than intended.
The thing with 'The Secret' is it only focuses on the law of attraction and misses the other 13 or so laws, one being 'The Law of Action' or as I refer to it, the Law of Get Up Off Your *** and Hustle. This woman takes a lot of action, makes a lot of calls, enrols a lot of people into fulfilling her vision.
In saying that, we all have our limiting beliefs, and it is a constant journey of breaking through them. Also we have got to keep it real, if you are simply saying you want to help because that's what society tells us to do, you're going to have zero motivation to make things happen, something drives you, focus on what that is.
If you are in Sydney I highly recommend you check out her (free) workshops.
http://www.meetup.com/Creating-Your-Perfect-Career-Path-Meetup/
It is about discovering your passion and identifying how to make a living from it. I've done the exercises, it made a huge impact in my world view.
1st one is on Sat 17 Jan. Please make sure you RSVP and attend if you do so.
Only room for 25 people.
She's all about adding value, and there is no hard sell or anything like that, my mum and sis are going to that one, I'm attending one on the 24th with my mates.
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I'm at ~90% LVR on ~$1M haven't lost any sleep. Also have 12 months interest @ 7% in reserves.
Will continue to be @ 90% as long as the banks keep giving it to me. The LVR isn't the major factor for me, as mentioned already it's the overall risk. Quality of the assets and tenants, cash reserves, other income, age, personal health, insurances.
Would go >90% but for me the cost outweighs the benefits/risk
Will continue to be @ 90% as long as the banks keep giving it to me. The LVR isn't the major factor for me, as mentioned already it's the overall risk. Quality of the assets and tenants, cash reserves, other income, age, personal health, insurances.
Would go >90% but for me the cost outweighs the benefits/risk
Hi brady
So that is $100k equity?
Is the property/ies all in one market or various States in Oz?
Are all properties currently in rising markets
Just throwing it out there
MTR
Right time to ask questions as I just did some back of envelope calculations
Elizabeth East SA $190k buy & hold now to develop 3-5 years time
West Bathurst NSW $307k buy & hold
Mount Austin NSW $235k buy & hold
Highbury SA $360k development site (in progress)
Total Value $1,092,000
Total Debt $966,000
LVR 88.50%
Cash $70k
Available Private Loan for development $60k
I feel naked :|
Thanks for sharing, good to see you have spread the love around, and 2 development sites, great stuff
Happy to share, most has been shared across different posts already.
All future purchases will be development sites going forward. The buy and holds created a nice base but now need to accelerate growth.
Plan to continue to be aggressive, if council approved Highbury development portfolio total debt will increase to approx $1.8M and total value $2.1M. I'm to young to start thinking about stopping, will continue to look to increase assets base whilst keep a cash buffer.
Previously have always tried to maintain a cash buffer of 6 months interest across the portfolio. Will attempt to get this closer to 12 months for more SAFN
great motivation brady how old are you
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