Market Rental Review

Well done Dazz. Way to show those doubting thomas's. On a side note, I believe this is the perth CBD office building. What about that other building/office floor you were gonna purchase off your boss. Did that ever settle.
 
Sensational Daz, glad it all worked out as per plan and put the doubters in their place.

I wonder if there will be a retraction or apology.

Dave
 
Its been interesting reading your topic Dazz, thanks for sharing.

Now that you have a lot of free time on your hands, any chance of that elusive book eventuating? :)
 
Dazz

Ruroshin beat me to it! Would love to 'read all about it' in your new book (hint, hint!!) :D

Thank you for sharing - your posts are not only educational, but inspirational!!

Congratulations on achieving your goal of exiting the 'rat race' - and may you enjoy your new life as a full-time CIP landlord!

Cheers
LynnH

P.S. Am wondering what I have to do to convince my hubby to retire ..... maybe if I buy him a BIG shed and see what happens from there ..... ??
 
LOL, Tracey!!!

No, I'm trying to get him to kick the avgas and adrenalin habit! :D

OTOH, installing a lovely golf course (all-weather and climate-controlled, naturally) with picture-perfect greens and bunkers that aren't tooooo nasty might just do the trick! ;)

Cheers
Lynn
 
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Another vote of congratulations and here's hoping that cruise gives you enough of a break to get hungry for something to do, such as putting pen to paper... :)
 
Dazz

That's at least three "big hints" for the book - Ruroshin, HiEquity and me. And many others in the past, if I recall .....

So ... when can we expect publication??? :p

Cheers
Lynn
 
Live the life of a property millionaire!

The poster formerly known as Michael Yardney once wrote that to “live off the increasing equity in their property” is the “ultimate strategy” that you [investors] should be aiming for”. But I think what TPFKAD (and wife) have achieved is much, much better.

Why be a rent collector AND equity farmer if you can be just a rent collector?

I recall a poster called Dazz (or Dazzling maybe) once explaining his belief that leverage and growth are extremely important in the early stages of one’s investment career. That is, to grow as big as possible as quickly as possible before worrying too much about the precise strategy for retiring. It’s very interesting to now read the following comment…

...The capital value of the property should jump accordingly, but that is yet to be determined. If it does, that's great. If it doesn't, the care factor is pretty low...

It seems that growth no longer matters all that much once the income from your investments eclipses your costs to the extent that the pay received for working for the man is no longer required/relevant. Much to learn from this thread.

Thanks TPFKAD. Hearty congratulations to you and yours!
 
Thank you one and all for the interest in the thread topic and kind words.


It was a struggle behind the scenes to achieve the result we eventually achieved, and required intense scrutiny of the wording of the Lease. Thankfully the chaps who wrote the Lease did a good job getting the Tenant to sign it.


Yes ffc, you are very astute, the prospect of being a simple rent collector is very appealing to both the wife and I. My wife is very conservative, and didn't like the idea much of LOE, even if it required only a very small growth percentage for it to work. Now the rents are in place, we don't need to consider chewing equity.


It has dawned on me that equity and capital are the things that simply make you wealthy, but it's the cashflow that allows you to sleep easy at night, and ultimately provides you with the freedom of lifestyle. This for us has now taken over as the prime concern.


The equity can tick along or drop, but having that stream of cash continually flowing through allows you some very attractive choices. Having an extra zero on the end of your net wealth doesn't help much if you are still tied to a job that you don't like, have to put up with being pushed around and have to get up to attend a BS meeting over a subject you have no interest in. This of course, pre-supposes that you do not sell any of your assets.


The book.....yes the book....well Lynn, it is on the list of goals to achieve this year. I had four goals this year, two of which have been achieved - goal weight and giving up the job.


The book thing has been on the goals list for the past 3 years, but I wasn't serious. Seeing as though I only have two goals left for the year - go on a decadent holiday and write the book - I reckon it might get a good shaking this year. I went through the airport newsagency just recently and despite there being about 30 or 40 different real estate offerings, most were very stale and were targeted at the FHB's and people trying to pay off their credit card debts.


There was absolutely nothing about advanced techniques for people with 3 or 4 houses under their belt looking for something a bit more juicy to increase their cashflows. I can see a gaping hole there and have plans to fill it.


What I need to do is stop pecking away at this forum and start to write the nitty gritty stuff that fills the chasm between "a decent property story" and "getting signatures on paper". The biggest thing that holds me back is that I know plenty of big fish in the pond that I swim in who could buy and sell me many times over, and it would be embarrassing to have them read my book, as I am an amateur to some of these 60 yr olds who own buku worth of property.


The big difference is that they have absolutely no interest in showing anyone what they know, especially not for $ 29.95 !! Ha. Of course, the great majority of poppy cutters in Oz - and there are plenty here on this forum - always love to stand up the back of the crowd, offering nothing themselves, but love to criticise anything anybody else does, and usually come up with the old line of "If he was any good, why isn't he out there doing the big deals, instead of teaching us and trying to charge us $ 1,000 for a weekend course. He's a phoney, they all are."


So far, I've been happy to stay "out there" doing the big deals.


Many people reckon that there is no money in books, and it is simply a good lead in, to get your ugly mug out there in the public eye so you can spin other merchandise products. Trouble is, I don't have anything to sell, and have zero desire to go down that path. Before you know it, the self righteous zealots who don't own any property have you in their sights ready to shoot you down. I have no interest in that either.


If you haven't guessed yet, I'm confused as all hell where exactly this is all leading. I got into PI in the first place to replace my job's income. Now that has been achieved, I'm a tad lost to tell you the truth !!
 
equity and capital are the things that simply make you wealthy, but it's the cashflow that allows you to sleep easy at night, and ultimately provides you with the freedom of lifestyle.

it has dawned on me too... unfortunately tho I have been swimming in the resi pool too long. Had I focussed more on yields I would be sailing thru this recession easier. One property that we pretty much acquired by accident.... a Dazz style special of 4000sqm with a tin shed on it, was just let at close to 10% yield. If all my properties were doing that I wouldn't need to trade! Alas I have been slow to switch ponds. I am still young enough to mend the error of my ways and this "GFC" has probably been a welcome slap in the face really. An athlete training at altitude... when I return to base I will be fitter and stronger ;)

speaking to a neighbour tonight - it's amazing the people that have dropped 10, 20 and tonight I heard $30m. Asset values can fluctuate all they like if you can afford to hold them. There sure are some headaches from this party hangover
 
Sounds like you're not ready for the book yet Daz. Let it go for a while and just enjoy life. Or if it still niggles away at you, start jotting some stuff down whenever the mood strikes you - doesn't mean you have to go out and publish it straight away, let it sit on your desk for the next 5 yrs, at which point you'll be much bigger and learned and more of your doubts will be wiped away and thoughts on the subject clearer.
 
Steve offers some sound input above, just enjoy for a while........:) The idea of arriving at the point you are now is that you have more choices. Don't rush.

As he mentions, you may find that the book writes itself as you jot down your thoughts and strategies from time to time. Certainly plenty of content to pick and choose from on this forum and pi.com from your past posts.

I've never met you Dazz, however I do not think you need be embarassed that your higher worth mentors and teachers would find your desire to write a book and publish it as something that is not worthwhile and purposeful.

Indeed, you may find that most of them will celebrate you for fulfilling that goal, if it is actually something that really inspires you. Perhaps you could ask for their input or use your learning(s) from them and your victories, and mistakes for that matter, as content.

Perhaps in the style of RDPD, without naming names...Rich Dazz and Richer Dazz ;) Also in the interim, as you are enjoying not needing to sell your time any more, you could also now become the mentor by availing yourself personally to those who seek what you have learnt. That may also cement and reinforce your own learnings and experiences and provide content and direction for a book.

In the reverse manner of the famous axiom:

"When the teacher is ready, the students may appear." :)
 
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