Inspiration for those who think they can't from Taku Ekanayake

Discussion in 'Investor Stories & Showcase' started by Player, 30th Nov, 2016.

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  1. Blueskies

    Blueskies Well-Known Member

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    I always enjoy @euro73 posts, they are filled with demonstrative numbers, good hypothetical scenarios and generally useful information.

    In this case I think perhaps calling out the $1M goal could have been let go to the keeper. From reading the article it. Seemed like an aspirational goal rather than a clearly mapped strategy. Yes this forum is about education, numbers, reality etc but it is also about less tangible but equally important things like motivation, inspiration, mindset, ambition, comradere, support etc etc.

    I have really enjoyed seeing your journey progress @Taku Ekanayake. I find the pace and methodical nature of what you have done inspiring and it motivates me to do similar. Having a high level vision of $1M passive is great, no argument that getting there will take determination and significant refinement of your strategy but hell brother, shoot for the moon, if you miss at least you are amongst the stars!
     
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  2. Perthguy

    Perthguy Well-Known Member

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    I agree @Blueskies. I usually don't like the x houses in x years stories and by the end of them I usually end up being concerned for the investor because they seem to be in quite a precarious financial position. This looks different to me. @Taku Ekanayake's portfolio looks really solid to me. I agree his methodical approach looks really sensible. I think he will do well.
     
  3. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Not all goals are expected to be achieved 100% of the time before a certain deadline.
    Goals like this are meant to stretch you.
    Even if this goal has a realistic 2% chance of being achieved, it's still 2%, which is almost one million times more likely than winning the lotto.

    Something like this probably needs everything to go right at the right time, along with applied effort.
    There will be opportunities available in future which one can't yet predict, so no specific plan can be made based on the unknown.

    One can analyze plans, figures and projections all they like, and it still may fail even if everything says it should work.
    Faith, trust and self belief is certainly a good starting point towards achieving anything that is possible.
     
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  4. Zak

    Zak Well-Known Member

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    @Taku Ekanayake - now that you have received so many comments about achieving the impossible possible. What are your thoughts?

    Maybe the missing link here is you need NRAS properties?
     
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  5. wylie

    wylie Moderator Staff Member

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    I came late to this thread, but I say well done @Taku Ekanayake.

    You are doing something towards a goal (realistic or not). Many people your age haven't even thought about setting goals, let alone work towards one.
     
    Last edited: 3rd Dec, 2016
  6. MTR

    MTR Well-Known Member

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    Agree with this.

    This is just the beginning for Taku, with knowledge and experience he can continue to improve the bottom line, many ways to skin a cat
     
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  7. MTR

    MTR Well-Known Member

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    Could be the "tall poppy syndrome" ?? :p

    I acknowledge that Taku is shooting his arrows very high and no doubt he will get there this is just the beginning. However he may need to tweak his strategy.

    Australian property in the main has been doing very well in low interest rate environment, this is already changing.

    Becoming an active investor will be important if goals are to be achieved in shorter time frame.... just my humble opinion:eek:

    Back to Taku......................
     
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  8. dabbler

    dabbler Well-Known Member

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    It is always good to have both sides, I think a lot of members do get what is being discussed, but at the same time, Taku could start a business or join a profession in property too, and his income may be from multiple sources.
     
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  9. Perthguy

    Perthguy Well-Known Member

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    I agree. The point is we don't know. I think the critique should be in another thread. Some of the information seemed quite useful. Just not really relevant to this thread precisely because we don't know what @Taku Ekanayake will do next.
     
  10. dabbler

    dabbler Well-Known Member

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    There is a member here, cannot remember who, but truly believes Western Sydney will double and be at 1 mil in 5 years, I highly doubt it, but we cannot say no chance I suppose.

    @Perthguy it is not lost on me, purely because I did not read anything here where he said he would get that income & I take it elsewhere it does not specify either, so no point worrying about it too much, Baldrick has a cunning plan :)

     
  11. Elives

    Elives Well-Known Member

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    Congrtas Taku! does anyone know why the link to the domain article has now stopped working?

    Cheers, Elives
     
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  12. BB5

    BB5 Well-Known Member

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    When things go south it isn't that easy to sell, hence why things have gone South.
     
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  13. ellejay

    ellejay Well-Known Member

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    Exactly, houses have an annoying habit of not selling when things have gone south, or sometimes even when they haven't gone south. Not to derail the thread, or suggest this relates to anyone in particular, but just saying.
     
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  14. Perthguy

    Perthguy Well-Known Member

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    I disagree. Properties in my area have dropped 25% to 30% from peak. I rate that as pretty far south. I bought before the market really started to move and added value. If I sold today I would profit. Properties are selling in my area too, as long they are priced right. If a property is priced right there are quite often buyers, even in a down market.
     
  15. ellejay

    ellejay Well-Known Member

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    Your local market doesn't represent the entire market though. You can't really generalise your experience to everyone elses can you? Maybe you can ☺
     
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  16. Perthguy

    Perthguy Well-Known Member

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    Your local market doesn't represent the entire market though. You can't really generalise your experience to everyone elses can you? Maybe you can ☺
     
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  17. Beano

    Beano Well-Known Member

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    Yes i agree
    I think it will take 20yrs to get a $1m passive pretax income
     
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  18. Cactus

    Cactus Well-Known Member

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    And even then your doing extremely well.
     
  19. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    the uber helps to an extent. lately I've been getting between $700-$800/week (pre-tax & pre-costs).

    truly appreciated @Blueskies! no doubt will take a lot of hard work & dedication ;)

    thank you @wylie! it still kills me that I didn't writing my goals down sooner!

    thank you @Elives!
     
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  20. Gen-Y

    Gen-Y Well-Known Member

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    Brilliant start Taku. Keep chipping them blocks one at a time.
    You have set some really high goals. It will take some tremendous effort to get there.
    The how part is up to you.
    Euro have paint a strategy that seems realistic for now. But things can change and it will for the better or worst for property investing in Australia. We do live in an interesting time that's for sure.