leaving your comfort zone

Discussion in 'Investor Psychology & Mindset' started by tomlemke, 23rd Dec, 2015.

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  1. The Y-man

    The Y-man Moderator Staff Member

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    Tom showing potential buyer through property:

    "Now as you can see here, lovely kitchen..... hold on this plumbing is shonky! Holy! Who did this.... jeeeezuz...... ok let's have a look at the bathroom. As you can see a lovely bathroom with.... wait, this shower is leaking, and this vanity is plumbed by some unlicensed amateur......! Who would buy crap like this...? Uh... hang on...."

    :D

    The Y-man
     
  2. Sackie

    Sackie Well-Known Member

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    @tomlemke I was a health professional mate and also accepted overtime as much as I could so was getting paid for around 100 hours a week but doing about 60-70 actual hours. But in all honesty I just saw it as going to the bank everyday for a meeting and when I left 'the bank' i had secured more funds to invest. I was 150% focused on my goal. Really obsessed tbh reading and learning as much as I could.

    I don't know what your goals are but if you want to create a large amount of wealth asap, assuming your totally committed and have the property investment knowledge, income is going to be the biggest determining factor. I would try to get my income up as much and as quick as possible. Then the learning of property stuff tbh is really easy. Hands down the hardest part to succeeding Is the mindset factor imo.

    Goodluck mate.
     
    Last edited: 24th Dec, 2015
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  3. Tranquilo

    Tranquilo Well-Known Member

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    Make sure its Campos coffee keep me in a job:)
     
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  4. Eric Wu

    Eric Wu Well-Known Member Business Member

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    good on you @tomlemke, taking the action, the world is much better from now on.
     
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  5. 212

    212 Guest

    You still have your plumbing licence, follow your dream, and you can still put some ads online, and you can do couple of jobs after hours or over weekends, specially emergency plumbing as it is highly paid jobs. This way you won’t feel the big income difference.

    You have a very strong advantage as a plumber and your dream job as a buyer’s agent, you will be able to assess renovation costs for properties, and you can negotiate better deals based on this model. As other said, you can have couple of tradesmen with you and start your property services business.

    I am the other way around, I always wanted to be a tradesman specially automotive mechanic, but I ended up as an IT guy (Tradesmen lives in povety where I came from, no license, uneducated, no insurance, no safety ...etc.). My parents would get a heart attack if I got such a job. I came to Australia in 2010 with a wife and 2 kids, and because of my family commitments, I couldn't do the switch at that time.

    Saying that, I do repairs for my cars, and my friends cars, and with property investment, I look for houses that needs repairs (bath, kitchen, flooring, paint, ....etc), and I take days off from the office and spend a week or 2 doing renovations. I enjoy it, and it is rewarding at the end.

    All the best.

    Ramez
     
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  6. Steven Ryan

    Steven Ryan Well-Known Member

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    Inspiring stuff Tom!

    On the other side of fear and uncertainty is everything you ever wanted.

    I’m glad you recognise this–I hear a lot of people say they want something but their actions speak otherwise.

    Congratulations on the courageous decision :)

    Earlier this year I took similar action, leaving by uninspiring design career to start mortgage broking. I cannot describe how fulfilling it is to be doing something I love which helps others in a big way, while knowing my future is in my own hands.
     
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  7. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Still got da biz.
    Just started selling some stuff online, eBay, online trading post, etc.
    Then imported a container of cheap pool tables, then some gym equipment, nek minnit, making a millions.
    Been in it 10 years now.
    Will sell for a mil or two soon, but considering it cost nothing to start, not a bad return and it bought a lot of property for us during that time.
     
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  8. Chris Au

    Chris Au Well-Known Member

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    Agree here, after a few years in the property management game, and keeping your plumbing licence current, as well as keeping in contact with other tradies, you could build up a property management business. I could see the next few years being very busy!

    All the best and a huge congrats for taking the step.
     
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  9. teetotal

    teetotal Well-Known Member

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    Well done mate for taking the action.
    As others mentioned, your current skills will come beneficial when you want to do some extra work & earn more.
     
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  10. tomlemke

    tomlemke Well-Known Member Business Member

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    Part of the certificate of registration teaches you how to pretend you didn't see issues like that haha. That part is actually going to be hard as my eyes are drawn to any sort of dodgyness anywhere from pubs to friends houses.
     
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  11. tomlemke

    tomlemke Well-Known Member Business Member

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    I had to have a very similar mind set with my job as it was extremely repetitive and un rewarding.

    Thats the plan, time to try and increase my income, i have hit a road block with servicing with only earning 65k as a plumber. I currently hold 2.5m worth of assets at around 65% lvr 40% of my portfolio is in brisbane region other 60% is in newcastle which both should have a decent run left for c.g. so once i improve my income i should be able to go shopping again : )
     
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  12. jim1964

    jim1964 1941

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  13. JesseT

    JesseT Well-Known Member

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    Good luck chasing the dream tom! Sounds like your making the right decision.
    Your lucky to know what you want to do, that's the hard part for most people.

    That's a huge portfolio and a low LVR, great work on that income, can I ask how long you have been investing?
     
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  14. Bayview

    Bayview Well-Known Member

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    I've had loads;
    1. Left school and home halfway through HSC Year to take on Pro Golf Traineeship in another State at aged 17.
    2.Left Melb to travel playing Pro-Am golf circuit with $400 in bank. :eek:
    3. Left perfectly good ProShop business of 10 years in Melb and decent income (but crap hours) to set up B&B and Golf Schools business with wife on Mornington Peninsula...she also left perfectly good and secure Nursing Job in Melb. This venture did not last.
    4. Left golf industry to do Real Estate Sales Rep.
    5. Left r/e and entered Health Care industry as Nurses' Aide in ICU. 3 years in this gig
    6. Moved to USA with wife and 4 year old son so she could pursue dream to work as a Nurse over seas...3 years in this.
    7. Left golf industry again when purchased workshop and tyre business.

    I guess you can count buying 2 x IP's sight-unseen interstate via internet as a leaving comfort zone as well.
     
  15. tomlemke

    tomlemke Well-Known Member Business Member

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    Thanks mate it will be 5 years in july, all properties have just been buy, renovate, hold : )
     
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  16. Johann_

    Johann_ Well-Known Member

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    What a thread!!...
    Well done in terms of getting out off our comfort zone. What you have done is created a back up and another opportunity.
    I see allot of people have asked why would you get out of plumbing... my question would be why not!!!
    I think if you want to be successful and happy in life, you must get out of your comfort zone.
    Without getting out of my comfort zone I do no think i could of paid my house of on my 30th birthday and have a business that I love doing :).
     
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  17. tomlemke

    tomlemke Well-Known Member Business Member

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    I should change this thread to "bayview king of the punt" where are you at now bay view? what happened to your golf career?
     
  18. Magnet

    Magnet Well-Known Member

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    Good on you @tomlemke you have a well-thought out plan of action and the commitment and determination to make it happen. Exciting times for you in 2016 I think. And @tranquillo is onto a good thing with Campos - might even get you a promotion after a few coffee runs
     
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  19. Bayview

    Bayview Well-Known Member

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    Golf career completely ended when I bought the automotive and tyre workshop 6 years ago.
     
  20. LifesGood

    LifesGood Well-Known Member

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    I get my morning coffee from a place that uses Campos. Best I've ever had.
     
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