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Discussion in 'Investor Psychology' started by MTR, 30th Jun, 2015.

  1. MTR

    MTR Well-Known Member Premium Member

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    Hi All

    For those who have been on this road for many years or perhaps those who are just starting out, what is property investing doing for you today/now?? not necessarily about what you have achieved (money wise), but overall, the big picture.

    How/if it has it changed your life - good/bad??

    For me overall its been a very positive experience.

    I have met many property investors with similar goals, have learnt a lot and has given me confidence and also helped me step outside my comfort zone and also like helping others and share my knowledge/experience.

    I never acquired a university degree and left school at age 15, I was never encouraged to pursue any real goals because being a female in Italian family it was not necessary, I was going to get married one day. However my brother had to go to University there was no question about this, he would one day be the bread winner so he ended completing an engineering degree. Thankfully this mentality is I think not the norm these days.:)

    So for me property investing is something that I not only enjoy but has given me confidence because I have found something I can do that works for me with or without a degree.

    MTR:)
     
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  2. Leo2413

    Leo2413 Well-Known Member Premium Member

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    It has given me something I know I can do well at. That increased my confidence, self respect, self esteem and overall happiness in life. I also enjoy helping other people who 'get it'.
     
  3. sash

    sash Well-Known Member

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    MTR...noice post...

    I am on the other side of the coin...I have 2 degrees and a lot of industry certifications. I realized mid way through my career - early 30s...I was not going to get to the top of a career as I was not political enough though talented enough.

    I anyway case set mind to properties...and have never looked back and no regrets. The only regret is not starting earlier - in my twenties...

     
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  4. bob shovel

    bob shovel Well-Known Member

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    what industry @sash if you care to divulge. i assume not politics. do the degrees make up for lack of "political" skills? and.by politics were talking brown nosing right?
     
  5. sash

    sash Well-Known Member

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    Yep....brown nosing...and Consulting....

     
  6. bob shovel

    bob shovel Well-Known Member

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    ahh "consulting" that explains the invoice you just sent me!
     
  7. sash

    sash Well-Known Member

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    Yes...I know....find out what you ...put a fancy report...package it differently...with fancy powerpoints and charts...and table the report with an invoice....gold..

    Because it is IT related...I get charge even more....

     
  8. wombat777

    wombat777 Well-Known Member Premium Member

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    I'm new to property investing so for me it's about setting and achieving goals. I've also said before that I find it to be a productive hobby and a good use of my time outside of work. I've certainly learnt a great deal in the last 4-5 months.

    I don't think you need a university degree to be successful. There are plenty of people with degrees that are not successful. I have a few role models that did quite well for themselves through hardwork and perseverance, making mistakes and learning from them. Trying a few things and settling for what worked for them. Self-confidence, perseverance, patience and I guess an open mind to seriously look at and learn unfamiliar ideas are key traits necessary for success. You also need to be willing to take risks otherwise you'll never get anywhere.

    For property investors, I guess it's also about avoiding over-analysing things.

    NB - I'm successful in my chosen career and enjoy the work, however I would like to retire in a timeframe that suits me. Hence my interest in property investing and investing more generally.

     
  9. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hey really good thread!!

    I will keep this simple.... Investing has changed my life. I came from a family who still to this day has not even paid off their home, so since I was 8 I had this drive to pay off my home which I did last year.

    Investing has lead my into a career of mortgage broking, small development projects and a future plan that I am looking forward to.

    But the most rewarding part is I have made so many great friends!!
     
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  10. Eric Wu

    Eric Wu Mortgage Broker Business Member

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    Hi Sash, you have done really well with property investing, enough said about your talent.

    Academic qualifications or degrees might have nothing to do with real life skills or investing vision/skills. on the contrary, lots of academic studying or training have wasted lots of our own time, they could be something that limited our mind and confined us in a small box. (I am a good example of it, 1 degree from overseas, and 2 degree in OZ, only realised that I am stuffed if I do not get out of the miserable life after reading SS).
     
  11. sash

    sash Well-Known Member

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    Well at least you realize that...plenty of people I know hooked on their 8-7 jobs...the so called status..paying off $1-1.3m homes on 100-170k pa....around ...and around the Merry go around they go. :)

    And her I am a simple Rasta...taking the pi$$.
     
  12. Jingo

    Jingo Well-Known Member

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    Great to see you in the 'new house' MTR!!

    For my wife and I, investing in property has given us many choices to enjoy a better quality of life. The choice to upgrade our PPOR, travel to Europe for an extended period of time, to slow down and work part time. Choice to leave an inheritance behind.

    I've learnt that property is a powerful wealth creation vehicle and can be used in many varied ways to achieve financial independence and financial security.

    Its changed our life for the better!
     
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  13. sumterrence

    sumterrence Well-Known Member

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    I was never interested in property investment before, but while im seeing my brother did well in property it makes me want to grab a piece of the cake too.

    When I first started my one and only goal was to make enough equities to buy a decent house in Sydney as I know it is impossible to beat the inflation with my tiny savings, equities is the way to go and all I've hoped for was $100k equities and thought ill stop as soon as I reach that goal because that will be enough to make my down payment.

    But while I do more research I slowly got stuck into it and it's like drugs especially when you have experienced how fast you can build equities!!

    So long story short, I think after I started in property it opened up my eyes and as alot of people have said increased my self confidence as well as the way I think.

    now that I've not only achieved my goal of owning my PPOR and a few IPs, but also I was able to push myself out of my comfort zone and set higher targets, my next goal is $500k equities with neutrally geared portfolio by age 30!
     
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  14. Be Developer

    Be Developer Property Developer Business Member

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    I have degree in totally different field.

    Property investing and developing is my passion now..

    I think it has given me a chance to network with like minded successful people in various field.

    also every time i drive past my development sites, i can say i build/developed that property,which mostly likely be there even though i am no longer on this earth!

    I also developed very important skill along the way "listen, learn and execute"
     
  15. AndrewTDP

    AndrewTDP Urban Planning Consultant Business Member

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    I came in to property because of my job.

    I realised I had skills and connections to make potentially more money doing my own thing than doing it for other people.

    Still love my job. I'll do it even if the development side of things picks up even more - just employ some more staff and focus on the best ones myself.
     
  16. Wonderland

    Wonderland Active Member

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    I'm very very new to this. Havent even bought my first IP yet, hoping to do that within the next year, hopefully. I've always been interested in investing and always wanted an IP before I turned 30. But I'd always been too conservative and scared, and life always got in the way. Cant do it yet, need to buy a ppor first, cant do it yet, have to have the first kid first, cant do it yet because about to have another kid, cant do it yet because I don't know which area to buy etc. Since I turned 30 last year, I feel like I'm going around in circles, I need to stop making excuses and actually do it. So here I am, trying to gain as much knowledge as I can in the next year so that when I finally purchase the IP, it would have made an informed decision.

    Reading all your posts has encouraged me to try and think outside the square and step out of my comfort zone. Its made me even more determined to learn as much as I can and finally make it happen!
     
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  17. Allgood

    Allgood Well-Known Member

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    Oh I hope I quoted right, still got the L plates on!

    Wonderland (if that is your real name!!) there's always something in the way. I so get what you mean. for us it was kids, job, new house, too busy etc. But I've missed so many great opportunities because it's been the wrong time for us, or ... if only. I've now learnt that it has to almost be a priority for us. Not saying you have to blindly buy crap because 'its time', but try to take that leap of faith. Confidence is by far the hardest thing about this game.

    All the best.
     
  18. Wonderland

    Wonderland Active Member

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    Allgood (if that is also indeed your real name LOL) that's exactly what I need to do. Take a leap of faith and hopefully years down the track I can think back and say 'why didn't I do this earlier!'
    Thank you
     
  19. Leo2413

    Leo2413 Well-Known Member Premium Member

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    I would also be engaged in some mindset material. Les Brown, Jim Rohn. It can change your trajectory of thinking/success in ways you can't imagine now.