Business or hobby?

So just wondering how you guys view/treat your investing/portfolio. Do you see it as a business and your the CEO, ? or a hobby? or anything else?

For myself, I see it as a business where I am the CEO and I have advisors who 'work for me', ie brokers, property managers, conveyancers, engineers etc. I have 6 month and 12 month benchmarks where I measure ROI and ROE to assess how my business is growing etc.

Would be interested to see how others view/treat theirs.

Thanks

 

Do you have board meetings? Lol, only joking

 

I treat it as another business

 

A bit of both. A hobby is something fun that you enjoy doing outside of work hours. And a business is a job you own designed to turn a Profit.

 

I simply see property investing as - investing.
My other business provides cash to invest in property.
There's not comparison between the 2 in my view.
Building an 8 figure property portfolio was very easy compared to building a good business.

 

Like Ace, I view my investment with investor eyes.

I admit, being frugal as an individual, it took a little time to get comfortable viewing expenditures associated with my investing as "costs of business" but I'm glad I made the mental shift or I wouldn't have an excellent accountant, wouldn't do my due diligence on properties before making offers, wouldn't be willing to fly up to Brisbane every weekend to find my next place etc.

 

The people i engage work "with me", not "for me". Much better mindset to have

 

well said @OC1!

 

As long as the business is still growing then it's not a problem,it's only when it turns the other way and then that's when you find out it's just another job and your working for the "BANK,.

 

Agree Oct, I didn't pay too much attention to the wording. Definitely work side by side to achieve the best outcome.

 

I treat investing as my other part time job. I do contract work for around 8 months of the year and then use the other 4 for renovating and holiday. I'm a very hands on investor doing near all the renovation work myself so it's a job for me. The hardest part is not seeing a wage come in during that time, but the equity gain is all worth it in the end.

 

I like to think of the IP's/developments as a business. I work 9-5 for someone else to pay the bills and building a 10+ IP portfolio, all self managed, renovated and developed is my business. Aiming for the business to pay me enough to quit other job one day.

I think the level which many people on this forum operate goes beyond the standard IP investor and moves more into a business model.

Note - i dont own 10 yet but this is my aim.