Why don't normal people think like us?

That actually worked for my brother. He was anti property investment until he read that book and realised he needed passive income.

 

Indeed.

Though, based on Tim's comments, it may be possible that they have no electricity running at the moment.

 

My family and friends know what I do and most of them don't know how I manage it. I let them approach me in conversation about property and 99% of them never ask questions about it because they are honestly not interested. Their eyes glaze over and they enter a dream like state at the mention of property investing. Each to their own. If they did ask I'd happily explain in clear detail the tricks of the trade I have learnt from past experience and also from the wealth of information from Somersoft and this forum.

 

Haha I'm not religious any more. But was brought up in a very religious family. I wonder if that mindset has stuck with me.

I honestly think it's just a desire to want to see my mates do well.

 

Haha yep. Every time I go on about property with people I have to pull myself up and remind myself "they don't care...you are boring every body".

Back when my wife worked we used to go to work functions and there was a couple at her work that were right into property. We had awesome conversations about property that would have bored half the rest of the population to death

 

+1

We all have different life purposes and need to follow our own paths. For some, there is more to life than investing and it doesn't necessarily mean they're doing something wrong. It's just different.

 

The best one is the thoughts of looking after a "rental"... The tenants will trash it and not pay the rent and then never move out!

 

I agree with you.

Although there arent too many people i know who would turn down the prospect of financial wealth if they knew they actully could have it.

 

I didnt care at all about "investing" untill i had a kid. I was 100% happy living pay cheque to pay cheque probably still would be if the boy wasnt around

 

Sounds like you got a "why".

 

I and my husband are really private people and no-one in our friends and family knows a full picture about our investments and finances, because the most of them would not understand or even be interested. If they ask we talk about it, otherwise why to waste our energy to explain...

 

Hey, but hang on...aren't we all being bombarded with sales to evil NG investors now - swallowing up the r/e world so that noone else can buy?

 

I recently converted my sister in law to property investing because she was complaining about the low interest rate for the term deposit. Not much you can do with the low interest rates atm.

 

Yep it's easy to be a genius on a rising tide

 

Investing is simple but not easy

At least the Government is ensuring via Super that most have money put away for retirement and Aussie Superannuation is growing rapidly

 

See the way I do it I wouldnt be bothered if prices fell or stayed the same for 10 years because I have profitable rentals. I dont rely on a rising tide, although it is a bonus.

 

If its so "Easy to be a genius in a rising tide" then how come we don't see more investor geniuses out there when there is a boom market? not everyone does well during a boom market. I know many people who bought ips in NSW and in the last few years only had minimal growth, while others have set things up in certain ways pre-boom to now have more than 45%+ growth in equity in some cases.

When a boom market comes and some investors do very well, its easy to say its the 'boom market', but don't overlook and minimalize the hard work of searching, planning, negotiating and acquiring the deals before a market boom in the right location with the right type of dwellings etc.. with a planned expectation of when the market picks up your stock will do well above some others, to me that's quite an intelligent set up, especially when not all dwellings will do equally well in a boom. just my opinion.

 

Good post, this makes sense.


I think we need to keep things in perspective a bit. Buying a property and renting it out is the simplest and most idiot proof way of making long term money. None of us here are changing the world or curing cancer, some of the recent preaching is a bit over the top (not targeting u here tim, just a comment in general)

 

I think we do see lots of this. When perth boomed there were lots of people who effectively bought property by throwing a dart on a map or buying something they just came across without much strategy behind it. Many of these people made a packet.

Sure u have to be in it to win it and they had the foresight and guts to do so but a big boom does tend to make investment geniuses out of some.

 

Investing in property provides financial security... and the freedom to pursue the things we are passionate about - like curing cancer