Paddle Your Own Canoe

Sash, feedback on my post?.. Let it go, that's another topic, another day

 

Awww....yes mum....looks at his shoes...

 

Totally true.

I know this is something you have experienced yourself in the past 12mths @MTR where you have worked out your 'sweet spot' for how much work/stress you want in your life.

Everyone's taste for stress, ability to juggle, and time they want to input into their strategy is all part of their work/life balance. When you add in work/life/IP the balance is even harder and can be a stumbling block for many investors.

Everyone's strategy, risk appetite, finances and amount of time they can dedicate to their journey is individual and unique. That is part of the fun, there is not right answer but there might be lots of wrong ones

 

Just like in business...people who can optimise this a get returns..are the ones who succeed.

 

Absolutely, took on too many projects, was not sleeping at night.
I now have balance, deals are flowing on, cashflow very comfortable, reduction in projects means reduction in work and sleep at night now. Have even employed a house cleaner, gives me more "me" time.

Look after yourself you are important, $10k up $10k down don't worry about it, minor in the scheme of things

MTR

 

Some BAs run a tiered pricing structure, however some would be pretty busy and spend more of their time sourcing properties in the sub-$350k market than in the > $350k market. Think the Logan area and some other parts of Brisbane where there is intense activity in the market.

The risk in the sort of market is a BA spending lots of time trying to source properties and compete with other investors and BAs. It would be sensible in the peak sectors of the market to cap the number of properties inspected, although not sure buyers would be happy with a cap.

At what point does a BA give up - and how often does it happen?

 

Great post.

 

So many good points here MTR. Investment strategies need to be tailored to suit so many aspects of a person - Ability, goals, life style, existing resources etc. I find it useful to read as much as I can of what others are up to, and take ideas that I know I can apply to my own situation.

There is nothing wrong with being ambitious, but a touch of realism doesn't hurt either!

Sometimes a strategy evolves over time - its ok not to have all the answers when you first start out too.

 

Thought it would be a good time to bring this old post back into action.

So many discussions lately on PC on markets, where they heading, concerns about interest rates, finance, shares etc,, investors clearly looking for value which is much harder to find in the property game today
If there is anything I have learnt over the last 2 years is ....... its good to bite more than you can chew, however if you cant sleep at night, what is the point.

USA stuff is turning out to be far less stressful than developing property in Australia, I wonder why???

Dealing with builders, architects, market conditions there are so many factors that come into play. Everyone seems to want to be a developer, Developers are the Rock Stars today, great gig when you get it right, but if it were that easy everyone would be doing it.

The important thing to remember is PADDLE YOUR OWN CANOE. If its too hard, or too stressful do something that works for you and just get good at it, rinse and repeat, and most important factor is make sure you make money, otherwise just stay in the day job and move on.

MTR

 

Agree 100%. I am in my own canoe, paddling like crazy and having the time of my life. I have posted some numbers as examples and been lectured by a number of forum members. Too bad! I am running my own race, not theirs. It is working well so far. Why not have dome fun at the same time? If you are not enjoying what you are doing then why do it?

 

Yes, mixing at the moment with business/investing in USA and will be travelling/holidays at the same time. The flight is a killer so may as well make the most of it.

 

I ditched my canoe a long time ago. Upgraded to a dinghy, then a speedboat, ...

Now in a big ship. Picked up a few passengers along the way BUT we left a lot of people on the wharf - they just weren't interested in where we were going.

 

Let us know when you get yourself a cruise ship so you can take all the Property Chat crew to the Caribbean.

 

Soon but I don't know whether there will be any room for those over the border ... .

 

Been reading a bit about this stuff. I agree with the idea that if you have a vision of where you want to be it can help motivate you to get there. A vision of what you want, and a desire to get there. Also an acceptance of where you are now, and knowledge that where you are now is okay. Then you can run your own race. Damn mindset, if you think where you are now is rubbish and/or it's someone else's fault then you can't enjoy the journey and succeeding might be harder.

You need other people to succeed, but you're not them so you tweak what they're doing to suit. That's how I'm paddling anyway.

 

Totally agree - when we see something where the numbers and location stack up we buy ... I've got lovely friends who have been analysing for the last 10 years that I've known them, and yet to buy anything. Obviously the next step is to hard for them to take

 

Paddle like an immigrant.

 

Paddle your canoe. Feels good.

 

What if you are up ****** creek without a paddle....

 

Then you're in deep ****