How did you know that you wanted to be a Property Investor?

What would you like to know? I have posted some details in other posts on PC.

Two were in food (as people have to eat) and two were in IT (I figured computers were going to be here for ever).

Two were existing businesses and two were started from scratch.

 

Thanks. Please PM me the links so I can read them. And will discuss after.

 

That's interesting, I expect he has had a positive influence on many investors

 

Read a book and got inspired.

I think I became a property investor about 5 years ago, prior to this I was just buying property and accumulating with no real clear strategy.

 

If you can't work for a boss, be the boss!

 

when I met a guy who was completely average but owned 10 IPs worth $500k each (a long time ago) and had managed to do it by saving well and buying whenever he could

retied, weatlhy, happy,
and I thought, wow, it looks so easy, I can do that too

 

Has it been easy for you?

 

Absolutely not!!!!
And ive not even reached where this person got to!!!!

Oh well.

 

What did you do in the past that you do differently in the last 5 years?
I have built quite a large portfolio, but never thought myself as a property investor, perhaps having reasonably good income makes me not to explore the max potential of property investment. Something that I have been pondering lately.

 

I hated school and was keen to work plus started dabbling in some bad ass term deposits as a kid so understood seeing money grow. Parents had very little idea about property or investing and had been burnt by their 1 attempt at investing but still encouraged me. I bought at the peak straight up after 6+months looking with them which cost me 10% on the price tag!

Got one and was keen for to go again but my parents were no where to be seen they had done as much as they knew! I watched their ppor go up and i could see big $ and how quick it happened, much better than a term deposit! (they still thought property was a dud but pushed me into it )

I read heaps of magazines and i wanted one of those summary tables the investors had, showing a number of properties and %increase but had no idea what to do!

I watched the market do nothing for quite a few years so wasnt a fan of the property game but still wanted to get in! That fuelled a fire! I didn't read any books as i thought they all screamed BS along with every advertisement in the mags. My bs meter was very sensitive!

Eventually started chatting away on SS once i had a reno under my belt and felt i could mingle with the "big boys". Things fell in to place to take action and got going - buying was easy, it was the team and kick start i struggled with. Now its evolved into action and knowing i want to be financially free and property (along with other things) can get me there!

 

I was always fascinated by property. I remember as a child, looking at houses as we went past on the train. I wanted to go inside and look at them. I used to drive Hubby & the kids crazy whenever we were on Holidays, looking at Real Estate Agents windows as well.

I never really believed that 'normal' people like us could/would buy more than one house, until a chance meeting that started it all, and here we are now with more than a few handfulls of property spread around the country.

 

We were buying properties in a rising market years ago. Flipped a few but didn't have any ongoing strategy. Had a gap without doing much, then about 5 yrs ago started buying under value houses, some a few ks out of a large town. Auckland boom happened and we got the ripple effect across multiple cheap houses. I only started thinking of myself as an investor when I saw this success and really started wanting to be an investor, as in understanding the rules and being as active as I could be.

 

I collected properties with the view of growing my portfolio but did not focus on the cash flow, if I had strategized, reduced debt along the way I could have also created income. These the lo doc/no doc environment, very easy to accumulate property.

 

Exactly the same here

 

It's good to listen from other people experience as a way of reflecting on what we do. I just want to make sure that I don't make the same mistake.

Btw, I haven't seen any post from you for a while, and you showed up as an old lady.

 

Hello Possum
Yes, I love this Australian icon, another day another avatar.

MTR

 

Haha. I still do that wherever I go. I remember looking at the listings in Real Estate windows all the way back to highschool. I used to ride into town to get the weekly real estate magazine and go through all the listings. I got my first job at 15, so I was running cashflows all the way back then. There was no internet so everything was printed.

I think I caught the bug from my mum, who is obsessed with property and my brother in law, who was a property investor. For as long as I remember I have wanted to invest in property.

 

How did you know that you wanted to be a Property Investor?

When I realised that the game could be skewed in your favour, greatly increasing your probability for success. The choice was really very easy.

Imagine playing roulette where you knew on most spins that the ball will land on any 1 of 8 numbers out of the 37. You could then form a strategy to take advantage of that edge. Same thing with real estate investing. Your edge compared to the other players is superior knowledge, strategy, focus, commitment, contacts, experience and negotiation skills.