You do not need to pay off your PPOR before buying an IP!
What advice would you give yourself 10 years ago that you know now?
- Thread starter geoffw
- Start date
+ 1 for me
Hmmm not sure. Probably think big, dream big.
Can we get an update from everyone on this thread? Such a great resource for newbies. 
Mine so far would be:
'Realise that you, and only you, are responsible for the life you live. Read as many books as you can on self development and figure out what it is that excites you and puts the passion in your belly. Once you know, and you will know what it is - seek out every bit of information you can on your chosen passion, find a mentor and surround yourself with people who have/are doing what it is you are striving for. Most importantly - take action. Have patience and have faith that one day that all the little boring, mundane right choices you make day in day out will compound into huge life changing results that will give you and your family everything you ever dreamed of.'
Mine so far would be:
'Realise that you, and only you, are responsible for the life you live. Read as many books as you can on self development and figure out what it is that excites you and puts the passion in your belly. Once you know, and you will know what it is - seek out every bit of information you can on your chosen passion, find a mentor and surround yourself with people who have/are doing what it is you are striving for. Most importantly - take action. Have patience and have faith that one day that all the little boring, mundane right choices you make day in day out will compound into huge life changing results that will give you and your family everything you ever dreamed of.'
- Don't leverage up in shares right before a financial crisis.
- Don't spend all your late teens/early 20's busting a gut working full time with part time/ 3/4 load at uni. Leaving home at 7 and getting home at 11 each night will not make you happy - take it easy and take another year to finish that degree, instead of trying to cram it all in.
- Spend more time with people, and less time looking at screens.
- Allow yourself to be happy, it's not something you can search for.
- Don't spend all your late teens/early 20's busting a gut working full time with part time/ 3/4 load at uni. Leaving home at 7 and getting home at 11 each night will not make you happy - take it easy and take another year to finish that degree, instead of trying to cram it all in.
- Spend more time with people, and less time looking at screens.
- Allow yourself to be happy, it's not something you can search for.
Form a circle with like minded people
Can't think of much I would have done differently, have gained lots of experience and achieve a lot this past 10 years which will jump start the next 10 in a great position.
The only thing that comes to mind is not to waste time doing unimportant stuff.
i.e. Make best use of your available time.
The only thing that comes to mind is not to waste time doing unimportant stuff.
i.e. Make best use of your available time.
Nothing really. Although I'm yet to achieve anything remotely close to most people in this thread, I'm quite pleasantly surprised by what I've been able to do over the past 10 years considering my background and circumstances. I hope I can say the same about the years to come
Hi Cimbom, good to see you back. How did your Ashmont place go?
10 years ago bought my first IP, was going well... Thing I wish I did! Not listen to my parents! I knew the numbers and could see how the game worked but hesitated and should have bought 2 straight up like I wanted! Can still see the pimp daddy unit in bondi that I wanted doubled well before the one I got and still grew at a higher rate since then!
If you have an interest don't listen to anyone that doesn't have multiple ips, mum and dad investors or people that simply live in houses are not experts, and especially don't listen to the media/news they tell you where you should have bought a few years ago!
If you have an interest don't listen to anyone that doesn't have multiple ips, mum and dad investors or people that simply live in houses are not experts, and especially don't listen to the media/news they tell you where you should have bought a few years ago!
Avoid partners - especially some of our nother neighbours - if you have the money. Save yourself the misery
Excellent advice, most of the strategies employed by people on this forum require a different mindset and level of understanding than your traditional single ownership IP model.
Start with the end in mind, set a goal for what you want to have at a certain point in time in the future.
Then work back from that to what it is that you need to do TODAY to get you 1 step closer to that goal.
It seems to make everything simpler then, and also makes what others perceive as difficult or hard just another logical step you yourself are taking to get toward your end goal.
Be open to personal growth opportunities and learning that while you may make mistakes, that sometimes it is the best way to learn and grow.
Have the courage and tenacity to make a decision and stick to it, taking control over your own destiny to make things happen.
Don't be too arrogant to admit that you don't know everything, just because you may have achieved some success in a certain area (financially) that you can't learn more than you already have.
Remember that you don't know what you don't know, and also that sometimes you don't even know that you don't know what you don't know....so be open to others ideas that may open your eyes to an "a hah" moment.
Find a balance to your "planning for the future vs living for the moment" I have found this the biggest challenge in my own life!
Have fun every day, life is short, moments are precious, so go out and give it a good shake!!
Then work back from that to what it is that you need to do TODAY to get you 1 step closer to that goal.
It seems to make everything simpler then, and also makes what others perceive as difficult or hard just another logical step you yourself are taking to get toward your end goal.
Be open to personal growth opportunities and learning that while you may make mistakes, that sometimes it is the best way to learn and grow.
Have the courage and tenacity to make a decision and stick to it, taking control over your own destiny to make things happen.
Don't be too arrogant to admit that you don't know everything, just because you may have achieved some success in a certain area (financially) that you can't learn more than you already have.
Remember that you don't know what you don't know, and also that sometimes you don't even know that you don't know what you don't know....so be open to others ideas that may open your eyes to an "a hah" moment.
Find a balance to your "planning for the future vs living for the moment" I have found this the biggest challenge in my own life!
Have fun every day, life is short, moments are precious, so go out and give it a good shake!!
