Why don't normal people think like us?

@Bayview ahhhhh.. please... not too many.. we need renters....because the smart, hardworking, ambitious folks mostly want to buy asap.

 

I've got a mate who is one of these "loser" renters of which you speak. Started his own business a couple of years before I did. He's got 6 full time employees, all tax payers, company is quite profitable so paying company tax. Chooses to rent as he needs the working capital for his growing business and chooses to live in a good area (Coogee) and has a lot more interest in that than property investment. Renting works for him. Took a lot of balls in his case leaving a well paying job, having his former employers tie him up in the courts (I was on the other side at the former employer at the time!) and then having to build a business from scratch with a young family, and only his saved capital. Straight into the fire this bloke went and came out on top. A lot more balls required to do this than most property investors exhibit while working a PAYG job and buying a few properties...then consider themselves some kind of capitalist geniuses.

The other side of the coin.

 

@The Falcon No, no mate you are misrepresenting what I said. The 'losers' I was referring to was in context to @The Dark Knight comments. It was specifically referring to people on Centrelink who refuse to look for jobs and sleep in all day, scrounging off the rest of society. I AM NOT referring to renters as losers, not for a second. Please do not misrepresent my comments.

 

Yeah, the lovely family I was talking about... nice people but I don't see them having enough drive to want to come off welfare. The 28 yo woman should not really be taking a pension imo... she has capacity to work I am sure. She was talking about visiting Australia zoo.... she's been there, done that and every other theme park near Brisbane.... you know its a lot cheaper for a pensioner to go there?!

Anyway... a bit of what makes me inspired... this is from work. Love motivational quotes!

 

These are great stories to hear. Good on him!

Sadly; it's not the majority of folks.

I don't think we investors think of ourselves as "Capitalist geniuses".

Yes; we have a good impression of ourselves - and rightly so - because we are doing what a lot of society don't do.

Whether you tackle a business, or own a few IP's - it takes courage, dedication, sacrifice and a commitment that a lot don't/won't make.

(I am now a renter, too)

 

My thoughts on it as well. I was whinging about centrelink whingers who just have terrible attitudes to life on general. I know quite a few successful people who rent

 

So do I mate. Some are quite strategic with their decision to rent while invest and makes sense too. Renting has benefits.

 

I don't even consider myself to be a property investor! I own investment properties but they were simply places that I moved out of that I simply decided not to sell. Very little courage/dedication/sacrifice on my part. Just common sense on researching the best way to make the most of a particular situation, diligence in following it through, and humility in admitting I'm wrong sometimes and listening to those who know better.

 

This is a problem many have. Afraid to admit they are wrong on different aspects.

Many times I had to break myself down and be hard with myself to say " your wrong mate. just plain wrong an ignorant on X matter and if you want to do better you gotta change otherwise remain a fool". I have done this many times over the years and then learnt from some very successful people how to do better.

Most people are petrified to admit to themselves they are wrong, bad attitude, poor values etc etc. You cant learn and grow this way at all. Its like having a full cup, if you try to put new knowledge into it, it overflows. First you need to empty some of the cup before the new water can go in. Just my opinion.