What gave u the Property Bug?

Discussion in 'Investor Psychology & Mindset' started by WestOz, 30th Jan, 2016.

Join Australia's most dynamic and respected property investment community
  1. hobo

    hobo Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    682
    Location:
    FNQ
    My folks definitely opened my eyes / influenced my attitude towards using property as a wealth creation vehicle. As a young child, I spent many, MANY a long evening playing in rundown old houses while they cleaned, painted etc.

    Their path worked for them, but I see myself/us taking a slightly different path, albeit still using property. Not so keen on the high-maintenance, hands-on approach they took (and still take). I value my own time more than I feel they did/do. I'll be happy to arrive at the same destination they did, but will be taking a different route!
     
  2. WestOz

    WestOz Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,259
    Location:
    WestOz
    Funny, got me reflecting then, just discovered I'm the type that if I walk into a place for sale & there's nothing I can see that needs doing, it's boring, not interested, would rather something that needs blood sweat & tears etc, put my touch to it, even tho half way through the reno I'm wondering why the hell I keep doing this to myself. Cause I'm a weirdo...
     
    HUGH72, hobo and Hanison like this.
  3. hobo

    hobo Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    682
    Location:
    FNQ
    Ha, yeah I didn't mean to imply we didn't want to get our hands dirty - we are quite hands-on, DIY ourselves, at this stage of our "journey".

    I guess I was more talking about the make-up of the portfolio held - quite a few older, high-maintenance resi properties (their version) vs some low maintenance resi + some CIP + possibly some development/s (our version).

    Also the level of DIY maintenance they they have continued with, vs outsourcing more, after well and truly achieving financial security. I don't want to be fixing toilets and cleaning ovens when I'm at that point; I'll be happy to pay for someone else to do those things. That's what I meant when I said that I value my time more than they do - I mean in the future. Right now I'm happily an amateur painter / toilet fixerer / etc. :D
     
  4. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,035
    Location:
    Vaucluse, Sydney.
    Phew! I was starting to think I was too obsessed with reading those books. :D
     
    Last edited: 5th Feb, 2016