Ordinary Millionaires

[dwyerfam]

Great book indeed and great stories (could not put the book down!).

Don't wanta give any negatives here, but out of the 12 or so in the book, it had taken most of them (bar one or two) about 15 to 20 years to build their wealth (worth between $4 to $10 million each).

With much thanks to the Somers and this forum, nowadays, we might be able to achieve that "millionaire status" in, at least, half that time.


Danny D.

 

[D.T.]

Hi dwyerfam,

Thats because most of those people in the book basically stumbled upon their wealth. As opposed to us forum folk who are planning for it.

-Regards

Dave

 

[Mondie]

Originally posted by dwyerfam
Great book indeed and great stories (could not put the book down!).

Don't wanta give any negatives here, but out of the 12 or so in the book, it had taken most of them (bar one or two) about 15 to 20 years to build their wealth (worth between $4 to $10 million each).

With much thanks to the Somers and this forum, nowadays, we might be able to achieve that "millionaire status" in, at least, half that time.


Danny D.

Maybe l am more conservative than some here, but l would be very happy if l could build my worth up to 4 million over 15 years, and 10 million in 20 years. Sheesh.

 

[Jakk]

G'day all,

I bought this book about 2 months ago and misplaced it without ever having opened the cover.

Found it today and have read it cover to cover, absolutely loved it,
the story that really got to me was "The Banker", talk about starting out behind the eight ball.

A highly recommended read.

regards

 

[brains]

I wouldnt bet on that one. With the property boom over and some really flat growth periods beginning it might take the same time. Remember that 15 - 20 years is 2 to 3 property cycles. 'At least half that time' would be just over 1 cycle and youd need a hell of a lot of property to start with to reach that level in that time.

By the way...does anyone know where the book is available online?

Originally posted by dwyerfam
Great book indeed and great stories (could not put the book down!).

Don't wanta give any negatives here, but out of the 12 or so in the book, it had taken most of them (bar one or two) about 15 to 20 years to build their wealth (worth between $4 to $10 million each).

With much thanks to the Somers and this forum, nowadays, we might be able to achieve that "millionaire status" in, at least, half that time.


Danny D.

 

[see_change]

I'd agree with brains

Most people need a reasonable amount of money behind them to get to the 5-10 mill amount.

If you have a high income I think you can do it in one cycle , but you really need to know what you're doing.

There are always exceptions to the rules (and there are on this forum) but most people will take one cycle to work out what to do , and get a "kitty" behind them , then make more serious money in the following cycle.

See Change

 

[Jamie]

Originally posted by brains
By the way...does anyone know where the book is available online?

Hi brains,

You can order online from Dymocks.

http://www.dymocks.com.au/ContentDynamic/Full_Details.asp?ISBN=187631222X

Jamie.

 

[brains]

Thanks Jamie

Originally posted by Jamie
Hi brains,

You can order online from Dymocks.

http://www.dymocks.com.au/ContentDynamic/Full_Details.asp?ISBN=187631222X

Jamie.

 

[warrioress]

Archives

Hi everyone...

I have been reading some old forum posts, and I wanted to comment on this book.

This book introduced me to Jan Somers, her books, and subsequently this forum. Like others mentioned before, i thought it was inspirational, and motivating.

Someone mentioned earlier on this topic whether any of the 'millionaires' featured are members of this forum. I always wondered that!

For any newbies like myself, or anyone who needs a kick in the guts to be motivated, I definately recommend it. It offers different perspectives on how ordinary Australians have become millionaires through property investment.

 

[beech]

Warrioress,

i was hoping you were going to tell us that Ordinary Millionaires 2 was coming out.

What a ripping book.

 

[warrioress]

Ha ha...sorry about that....I wish....although Jim mentions before writing the book he had never heard of Jan Somers...perhaps he frequents this forum ?

Jim, write part 2...where are they now....

 

[Monopoly]

Ha ha...sorry about that....I wish....although Jim mentions before writing the book he had never heard of Jan Somers...perhaps he frequents this forum ?

Jim, write part 2...where are they now....

Perhaps he does warrioress, why not contact him directly and ask; I'm sure he would gladly oblige you with an answer??

FYI...I'm sure there are a few of his OM's around, past, present and those yet to be named/left nameless??

 

[warrioress]

What's his nickname ?

 

[Peter Parker]

What's his nickname ?

Why just request the nickname when you can have the lot?

http://www.uws.edu.au/about/acadorg/caess/sp/staff/academicstaff/alphabetical/jimmcknight

He's certainly a man of eclectic interests; I'm particularly intrigued with 'communal behaviour and alternative realities'

Peter

BTW he is coming out with a new real estate book - see the link above

 

[karina]

I can´t recommend this book enough.

For me it had a HUGE impact on my investing. I read a fascinating story "Jesse´s story" chapter 4, this is the story of a man that purchased loads of x housing dept homes for a song. they had great rental returns and were in the less desirable suburbs.

After reading this story I stumbled across an x govt home in geraldton WA that was selling for a really cheap price. Remembered Jesse´s story and was able to secure that listing and hunted for more of them. Bought lots of them and it has really paid off.

I love the book, it is a must read!

 

[emw]

Yep, loved this book, heaps of unusual ideas which aren't straight B&H. I emailed him about his new book & he says it should be out 'soon'.

Ed

 

[warrioress]

Response from Jim

Just received a responce from Jim via email....thanks for the contact details Spider....

He wrote that his book is coming out soon (not ord. millionaires part II), which we knew....but he also mentions that he's never been on Somersoft, but has heard from many people how good it is...

Ahhh...missing out Jimbo.....

 

[rj]

Awesome!

Im gonna go get me a copy right now! I need another read!

RJ

 

[warrioress]

RJ, if you enjoyed Jan's 'Story by Story', you'll like this one. More in depth, with only 10 or so stories....

 

[agent 86]

Not too sure about the new title

The Rules of Risk and Real Estate by J McKnight

bit of a tongue twisting mouthful !