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Grow Rich

Discussion in 'General Property Chat' started by MTR, 17th Aug, 2015.

  1. MTR

    MTR Well-Known Member Premium Member

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    Kieran Trass, who wrote Grow Rich with the property cycle.
    Dug it up the other day and will share some of the gems in his book, some extracts that make sense

    Many decide (wrongly) to invest in property near the end of the boom phase.

    Financial freedom is an elusive goal unless it can be clearly defined and placed in a timeframe within which it must be achieved

    The number of properties you accumulate has little bearing on whether you are a successful property investor.

    Unfortunately the principal of a sound return on investment in the form of cashflow is often ignored in the anticipation of potential gains

    MTR:)
     
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  2. Leo2413

    Leo2413 Well-Known Member Premium Member

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    HI MTR, i agree with the rest of your post except this.

    All i can do is speak from personal experience and i have pretty much ignored positive cash flows in order to buy deals i believed to have great growth potential and i have done really well with this approach over the years. This has just been my own experience. I do believe it will depend on individual situations though.
     
    Last edited: 17th Aug, 2015
  3. MTR

    MTR Well-Known Member Premium Member

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    I am holding negative cashflow properties which I develop, sell/hold

    I also have held for growth properties, sell some to reduce debt.

    Regardless of strategy if you don't have cashflow you will have issues servicing loans which will slow investors ability to move forward.

    MTR
     
  4. Leo2413

    Leo2413 Well-Known Member Premium Member

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    I agree with you MTR and so i think it really depends on the individual situation. For me personally, i have just made sure cash flow is 'acceptable' but not interested in major surplus. And i focused on i guess what is called speculative potential growth. Its worked for me. But i agree with you about servicibility being key to continue growing your portfolio.
     
  5. Raydar

    Raydar Well-Known Member

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    How very true...this is what happened to us recently. We are currently working on a strategy to over come this. In a few years we will have two incomes again and shouldn't be in issue moving forward.
     
  6. MTR

    MTR Well-Known Member Premium Member

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    Whatever works:)

    I recommend this book.
    I think it will help investors understand how key indicators work in property cycles and improve chances of success.

    MTR
     
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  7. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Ordering it now. Thanks for recommending it.

    krass.PNG
     
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  8. Catalyst

    Catalyst Well-Known Member

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    Thanks @MTR for the recommendation.

    @Leo2413 where did you order it from?
     
  9. Azazel

    Azazel Well-Known Member

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    Sounds good.
    @MTR I'm being lazy, what year was it published?
     
  10. Catalyst

    Catalyst Well-Known Member

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  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Just finished ordering it, From amazon.

    Not yet shipped
    Shipping estimate: Monday, August 17, 2015 - Tuesday, August 18, 2015
    Track package
    Hide
    Order Received - August 16, 2015 10:56 PM
    We've received your order, but we haven't started preparing it for shipment yet. The amount of time your order spends in this status can vary based on the availability of the item(s) and the selected delivery.
    [​IMG]
    Grow Rich with the Property Cycle

    Trass, Kieran
    Sold by: hippo_books
    $9.25
    Condition: Used - Very Good - Very Good: Cover and pages show some wear from reading and storage.


    Darn @MTR you made me purchase 3 more books with that....grrrr :p
     
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  12. Catalyst

    Catalyst Well-Known Member

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    Thanks @Leo2413. That seems to be the only place to buy this book. I've clicked 2 pages of Google, and Amazon is the only one so far.
     
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  13. Azazel

    Azazel Well-Known Member

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  14. datto

    datto Well-Known Member

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    I think I'll wait for the movie.

    Interesting points though.
     
  15. Catalyst

    Catalyst Well-Known Member

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    @Leo2413 I have just ordered. But the cheapest one I could get that would deliver to OZ cost US$15.88.

    Total costs :(
    Item(s) Subtotal:
    AUD 22.40
    Shipping & Handling:
    AUD 23.90

    Total before tax:
    AUD 46.30

    Should have done it yesterday :rolleyes:
     
  16. HUGH72

    HUGH72 Well-Known Member

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    Its amazing what a bit of free advertising in PC can do!
     
  17. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @Catalyst
    :oops::oops: did I take the last one for $9....:p
     
  18. Catalyst

    Catalyst Well-Known Member

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    You probably did! :rolleyes:

    :D
     
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  19. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I don't think it's been reprinted so stock is probably pretty low. Your local library may have it, or can order it from another library.
     
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  20. Leo2413

    Leo2413 Well-Known Member Premium Member

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    If I did to a library book what I normally do to books when I read them I would be banned from libraries:D.