I just read a thread from Monsoon titled "2009 goals Looking Good" and I am encouraged to see the enthusiasm for RE investment. I too believe in celebrating each rung up the ladder.
But why do I rarely see anyone celebrating their goals accomplished in the later years of property investment? Is it because the thrill has worn off by then, or is it that the investment has been a dud?
I mean, surely the purchase of a property is just the beginning, and is actually a step into the largely unknown. Yes celebrate the first step, but wouldn't there be much more reason to celebrate about 7 years later.
In the spirit of celebrating goals after 7 years, I want to tell you that I have managed (through a combination of luck, hard yakka, and waiting) to achieve the following:
1. Learn a great deal about buying, developing and selling through doing five different projects part time.
2. Learnt that banks exist to help themselves, but with care, they can help me too.
3. Increased my net worth by about 400%.
4. Attained positive gearing to the tune of about $20k per annum.
5. Learned what leverage can do for me (and do to me too)
6. Managed to curb a desire to take wild risks with my money.
So that is my little celebration. I am absolutely certain that many of my somersofter colleagues have done alot lot better over the past 7 years, and I hope you have.
But why do I rarely see anyone celebrating their goals accomplished in the later years of property investment? Is it because the thrill has worn off by then, or is it that the investment has been a dud?
I mean, surely the purchase of a property is just the beginning, and is actually a step into the largely unknown. Yes celebrate the first step, but wouldn't there be much more reason to celebrate about 7 years later.
In the spirit of celebrating goals after 7 years, I want to tell you that I have managed (through a combination of luck, hard yakka, and waiting) to achieve the following:
1. Learn a great deal about buying, developing and selling through doing five different projects part time.
2. Learnt that banks exist to help themselves, but with care, they can help me too.
3. Increased my net worth by about 400%.
4. Attained positive gearing to the tune of about $20k per annum.
5. Learned what leverage can do for me (and do to me too)
6. Managed to curb a desire to take wild risks with my money.
So that is my little celebration. I am absolutely certain that many of my somersofter colleagues have done alot lot better over the past 7 years, and I hope you have.