YIP Investor of the Year 2012

I believe everyone is equal. We need to stop measuring our personal worth as our net worth. Its too entrenched in our society which is why people won't speak up if they are "financial failures" grrrrrrrr

 

I agree with you @melbournian is not about how many Ips you have, but rather the base amount, and i would argue also some diversification. The only thing is, when you want to build a larger base because its part of your wealth creation goals, it would be hard to stick to 8 properties unless each one's value was quite high. Personally i wouldn’t want to do that for a myriad of risk mitigating reasons. So in that case i think going above 8 ips is quite realistic in order to expand your asset base, further diversification and limit the initial value of each ip to stay within a broad rental market. Just my opinion.

 

I think most of us dont do that, and i dont think she is eigher. Personal worth is one thing, and net worth is another as i'm sure you agree. Net worth is what will stop people from being a slave on the pension and living on the poverty line. It's what will give people options when they retire. Just my opinion.

 

No, I wasn't saying that @Gockie was saying that ....(sorry, Gockie!) I'm just saying society generally believes that. I don't believe in retirement anymore. To retire is to die. With the changing times ahead a lot of people won't be able to retire. We need a new way of thinking.

We are just better off to do work we love, or find the love in the work we do, then you will never need to retire. When you live your life purpose(s), following the callings of your soul/intuition, you will be given everything you need and more. Seen this happen enough in my own life to know this as my truth ....

 

Nah, I was saying there's a tendency for people to compare themselves to others, whether it be people from magazines or on the forum (I can also add... people from a mentoring group) and people can feel down when they do that.
Ps. Loving the work you do is awesome. I really enjoy what I do atm and I am blessed to get paid to do it!

 

" - News Items"

"THE LYING GAME - Real Estate Article"

ETHICS IN REAL ESTATE

 

I don't think I understand this part of what you've said, Kate, so I wonder I you wouldn't mind clarifying for me?

e.g. Why do you look on retirement as dying? And, I guess, what is your definition of 'retirement', that makes you think this?

Edit:typo

 

Societies concept of retirement is to quit work, maybe travel, and then potter around with lawn bowls etc. and also to be poor (money wise) because you are not working.

If you don't have a purpose that wakes you up in the morning, that's not living. Everyone needs a purpose, big or small.

That's why I don't believe in retiring, why not live a life you love that you don't need to retire from (with mini holidays in between)

 

When Matt & I were overseas in 2013 there were so many old people (no offense to you 50+'s!! ) who talked about how they had been waiting for retirement to travel. It scared me how many people had waited decades to tick off their bucket list and some of them were too old to do some of the activities.....

 

Good for you re: work

Yes comparison trap sucks.

Ignore my comment, it was typed in a rush, haven't eaten all day and was hot & delirious (and a bit blonde?)

 

True I would never say I would not exceed 8 it just has not happen or has yet to happen based on my goals. No one property is the same. Having a property with a sub division potential is different than 3 standalone properties and so is one that has a Reno potential to sell or flip or as a quick turnaround

I could sell everything in Aus and overseas and possibly buy 20+ properties in higher ranging yields in Aus on 10% deposit and pay the lmi but is not something I want to do at this stage. I want properties that is able to manufacture growth through dev or reno and also compliment the lifestyle I lead.

 

I think the whole mentality of retiring, giving up your job but still remaining exposed to debt is false.

There is one way to make money - work your butt off, see opportunities where others see fear, expand your mind. Get rid of mindless activities, tv etc and work harder.

I hate the word "retired" - people in their 30s and 40s planning to retire - never work again because they are going to buy real estate! Anyone who has been through a few cycles would know the belief in this concept is just silly.

Being financially independent is a great goal, not being dependent on anyone giving you a job to survive is the ultimate aim but thinking there is no work involved in reaching that destination is just plain silly.

 

Everybody's lying to everybody. The property game is a game of lies.

So, how do you survive the lying game?

Well, understandably, the first instinct when everyone else is lying is to lie yourself. It's easy to think that the biggest liar gets the best deal.



@willair I like the second article best. The worst liars are the ones that believe in their own lies so much, to the point where they'll ignore the trail of destruction they leave behind.
Unfortunately, it's human nature to turn away from its self created disasters, and this is why we keep repeating the same silly mistakes ....

 

Totally agree @Xenia and this is the trap I bought into, retire as soon as posdible, keep buying RE .. It was an escape because I didn't love my life.

Like what you say about not being dependent on anyone, that is true freedom. To some degree, everyone hates being told what to do.

 

Roy Morgan Image of Professions Survey 2015 - Nurses still easily most highly regarded – followed by Doctors, Pharmacists & School Teachers

Least trusted occupations
Car Salesmen – a position they have held for over 30 years with the next lowest being
Advertising people and
Real Estate Agents

 

Give me a fireman any day...

 

Here you go girlfriend.

 

I like this and agree totally....

 

You forgot politician !!!

 

I like that mate. Its actually almost the same strategy I employ.