It's more than a box

Rockstar

Rockstar

Why do so many people look at property as simply a vehicle for creating wealth? By investing our hard earned dollars into an income producing asset is fine but who ever gains satisfaction from the feeling that they are actually providing a home for someone to live in? As time goes on this satisfying part of my investment journey is developing and I am grateful for the change of mind toward the fact that I am providing goods and services to the community.The main ingredient here is, of course, mental volition = level of satisfaction. When anything becomes merely a money making machine for selfish ME there may be pleasure for the ego but no deeper satisfaction of providing assistance to others.

The mindset is shifting from how much profits can I make to how can I improve the product I am supplying while maintaining my own financial requirements that suit my life goals.

Would love to hear from some of the longer term property investors regarding their attitude to this? :)
 
Don't know, then you could also see it as taking a house from the other person that would have bought it.
That place to live would have been occupied by someone, regardless of you.

But I do like knowing that my tenants don't live in a complete dump and can call their landlord any time if they need something.
 
I live by the principle that I will provide decent accommodation at a decent price. I would never let my properties become slums because that's how you get into trouble.
 
After having rentals trashed a few times that satisfaction disappears.

I will keep the place well maintained and clean on handover. I treat each new tenant with respect. But the minute they stop paying rent etc its a business transaction and out the door you go.
 
Rockstar said:
Why do so many people look at property as simply a vehicle for creating wealth? By investing our hard earned dollars into an income producing asset is fine but who ever gains satisfaction from the feeling that they are actually providing a home for someone to live in? As time goes on this satisfying part of my investment journey is developing and I am grateful for the change of mind toward the fact that I am providing goods and services to the community.The main ingredient here is, of course, mental volition = level of satisfaction. When anything becomes merely a money making machine for selfish ME there may be pleasure for the ego but no deeper satisfaction of providing assistance to others.

The mindset is shifting from how much profits can I make to how can I improve the product I am supplying while maintaining my own financial requirements that suit my life goals.

Would love to hear from some of the longer term property investors regarding their attitude to this? :)
Click to expand...

Sounds great.

Only problem is getting a tenant who is as in love with your product as you are.
 
Rockstar said:
Why do so many people look at property as simply a vehicle for creating wealth? By investing our hard earned dollars into an income producing asset is fine but who ever gains satisfaction from the feeling that they are actually providing a home for someone to live in?

Would love to hear from some of the longer term property investors regarding their attitude to this? :)
Click to expand...

Disagree here. It's my hard earner money, and I'm no charity for tenants. The landlords who get all emotional are the probably ones who end up $150/wk below market rates cause they feel all warm and fuzzy about the idea of being good to tenants.

"providing assistance for someone". Go work for a charity. Otherwise it's simple a business transaction with contract conditions (lease).
 
Doovalacky said:
After having rentals trashed a few times that satisfaction disappears.
Click to expand...
Was it seriously ever there though?

Doovalacky said:
But the minute they stop paying rent etc its a business transaction and out the door you go.
Click to expand...

It should always be a business transaction. You need to hold people accountable in any business - though negative experiences like this shouldn't stop you from continuing to provide quality goods and services.

'What's good for me' can become 'what's good for us' It is not good for anyone to shirk their responsibility of paying agreed rent and it is our responsibility to hold them to their committment - for their benefit.
 
bluestorm said:
Disagree here. It's my hard earner money, and I'm no charity for tenants.
Click to expand...

You are missing my point. I am making plenty of money out of my property dealings and have no intention of supplying charity rentals or sales. You can be highly successful without focusing on just 'what's in it for me'.
 
Change my name? Not until you change your avatar, Monkey Boy!

Nonetheless, you're spot on about seeing the social purpose in property investing. It's not just about fulfilling a market need, it's also about having happy tenants who only (at this point in their lives) want to be rental tenants.

I've got happy tenants (speaking of the privately-managed ones who I know), and they pay less than possible market value. Suits us all, because money actually isn't everything. I prefer to not screw people if I can!

Va: Vot's drong vit me?
 
Rockstar said:
They don't have to be in love with it Marc and I don't expect them to. But they do need somewhere to live and I can provide that at a fair price.
Click to expand...

We all already do that. We all already provide them with somewhere to live for a fair price.

Where's the issue? What are you expecting us to say?

Actually; we don't provide them at a fair price - the rents should be higher.

I don't get your point about all this.
 
Belbo said:
Nonetheless, you're spot on about seeing the social purpose in property investing.
Click to expand...

You guys are kidding right. Maybe ask your tenants what they think of landlords. Most I'm sure won't have many kind words for "greedy" landlords being the scum of society. Few would see your noble and social purpose, but instead see you as reducing their ability for them to purchase their own place.

Belbo said:
I've got happy tenants (speaking of the privately-managed ones who I know), and they pay less than possible market value. Suits us all, because money actually isn't everything. I prefer to not screw people if I can!
Click to expand...

How are you screwing people if you rent AT market value. We've got good tenants as well (3-4yrs tenants, etc), but keep raising rents in accordance with market value. Good agents who manage the tenants well.
 
Rockstar said:
Why do so many people look at property as simply a vehicle for creating wealth? By investing our hard earned dollars into an income producing asset is fine but who ever gains satisfaction from the feeling that they are actually providing a home for someone to live in? As time goes on this satisfying part of my investment journey is developing and I am grateful for the change of mind toward the fact that I am providing goods and services to the community.The main ingredient here is, of course, mental volition = level of satisfaction. When anything becomes merely a money making machine for selfish ME there may be pleasure for the ego but no deeper satisfaction of providing assistance to others.

The mindset is shifting from how much profits can I make to how can I improve the product I am supplying while maintaining my own financial requirements that suit my life goals.

Would love to hear from some of the longer term property investors regarding their attitude to this? :)
Click to expand...
I used to get a lot of satisfaction out of it when I had some homes I rented out built in the 60's. At the moment though I have a couple of better than average homes, 12-16 years old that tenants expect to be like brand new. Houses of that age seem to need quite a bit of maintenance, yet tenants expect everything to be like a brand new house. Newer items aren't built to last.
 
Belbo said:
Change my name? Not until you change your avatar, Monkey Boy!
Click to expand...

Monkey Boy? I should have kept my bananas a secret! That's Frankenstein my friend. Actually I have been thinking of a change so I may take you up on the deal. :)
 
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