The least you want to do have a TOP surveyor AND accountant look over the subdivision plans to advise you on taxation and town planning and a simple feasibility study.
We have expertise in 1 into 2 subdivisions, and most people we see UNDERESTIMATE the costs. Reserve Contribution being a major, that is the cash you hand over to council in exchange for pieces of paper. As from the posts above Auckland seems to be around 80-100K, Taupo where we live is a more modest 45K upwards.
Simply understand HOW a subdivision works, your time frame on it and how much cash is required. I have seen many people lose their shirt. Here is a brief outline of the process:
1) Surveyor and planner prepare resource consent application to council and a scheme plan, nice drawing setting out HOW they are going to split the land making sure they comply with the criteria such as coverage, access, and a myriad of council conditions. Let's assume you are subdiving without a notified consent (notified is when you are outside the council regulations and need to notify neighbours/stakeholders and that is a different ballgame again.)
2) Council deliberates (up to 6 weeks), any questions come back in writing and changes may have to be made ( 6 w start over)
3) Council grants resource consent with special conditions (pertaining to your site) ie water, sewer, power, vehicle crossing, soakholes, easements etc
AND
a bunch of small print the general conditions which can cover all sorts of things they may come back to you. (6w any query start over 6 w)
4) You have to go and fulfill all special and generic conditions, ie concrete a vehicle crossing, connect sewer, connect water to site boundary, build roads/driveway(however long that takes you)
5) You go back to council and say, hey, I just filled all these conditions, are you happy ? (6w)
6) They come back and say yep, we are happy or aaahh, no, we want you to build a 9m deep soakhole, or a retaining wall because your neighbour, or ......
7) You do that covered under 6).
In the meantime your solicitor liaises with your surveyor and prepares any easements or right of ways from your consent over your roads or accessways or sewer lines.
9) You go back to council and say, hey.. happy now ???
10) Yep we are, please pay 7.5% of the section value (Taupo) plus parks, roading and waste contribution, that makes 19.8K per section created and we will give you a shiny piece of paper that says 224C and which means you can now proceed to Step 11.
11) Your surveyor comes back and finalises the survey and bangs some shiny white pegs into the ground.
12) All paperwork gets send to LINZ (Land Info NZ) and they issue 2/3/6/20 new titles OR they come back and say, we have a few questions (6 w)
13) You are covered in sweat by now (or not) answer all the questions and BINGO .... new titles.
14) You break out the champagne
Time lapsed: 11 months
(This is Taupo, am sure similar elsewhere)
And this was a plain sailing one.
GET A GREAT TEAM.
Now I am sure a surveyor would have written this in a somehwat more eloquent way, but this is what you are buying.
Trust this helps. It is a bit of an epic, but I had fun writing it.
Cheers.
Fritz.
COLIN KUMAR
Barfoot & Thompson Commercial
m. 64 27 684 1114 | p. 649 358 0989
c.kumar@barfoot.co.nz
I use an e-mail subscription service to avoid spam problems and keep in contact with my clients.Timely information is the key to succeed in real estate. Incase you have not subscribed to my news letter please send me an email and I will send you the subscription link. Alternately, you can send
me a blank e-mail on the following address:
barfootandthompson@getresponse.com
Friday, August 24, 2007
Chris's Top Tips and Suggestions
1. Taking people in the know who have DONE it out for a lunch/coffee will frequently be the one of the best investments you can make.
2. Dream VERY BIG, start small, break it into small steps and try and SYSTEMITIZE the whole thing so that it can grow itself.
3. Attend a Keith Cunningham seminar. http://www.keystothevault.com
4. I learnt a BUNCH about the power of leverage on other people's time, other peoples skill sets, and other peoples networks.
5. I have NEVER paid retail or anywhere near it for any prpoerty
6. I only buy a property that will boost my debt servicing ability.
7. The ability to take responsibility for your circumstances is very very powerful and also very enlightening.
8. buying well below market and taking care of debt servicing (I bought for cashflow and always aimed to boost my borrowing power with each purchase) and maintaining healthy LVR’s.
9. as part of my goal setting process I have PLANNED benchmarks where I am to stop and smell the roses, reassess, and decide if I am still doing what I want to be doing, for the right reasons.
10. gradually picked out the agents who were willing to work to my format.
11. a) Especially if I was a beginner, I would pick one market and get to know it very well, this gives you a performance advantage over 95% of the other buyers out there.
b) While you can buy well in any market if markets are hot where I am and I was a beginner I would move to where the going was comparatively easy, yes MOVE - or at least commute. This will make life a lot easier, there is no need to fight the herd.
c) I would go looking for agents and build my BRAND with the agents. For me it was I WILL SETTLE ON EVERYTHING THAT MEETS MY CRITERIA (this is great for agents) and especially now I CAN BUY HOUSES FOR CASH - IN THREE DAYS
d) Make written offers. Look at houses (either before or AFTER your offer, depending on you, but if you look at a house, MAKE AN OFFER). Repeat.
12. Banks look at when lending:
YOU, your history, your situation, their exposure to you, etc
LOAN TO VALUE RATIOS, both on the loan you are applying for and your entire position
DEBT SERVICING, your total existing income plus the expected income from the purchase. Most banks will look at around 75% of a residential property's gross income as being available for debt servicing. There are many interesting formulas that the different banks use but this is a general guide.
13. If you want a large portfolio make sure every property you buy to keep IMPROVES your debt servicing ability. Keep your LVR at 80% or lower where ever possible and move to different lenders early. Some lenders are much more conservative re your overall position than others. So if you want to be HUGE a good idea is to borrow from the conservative ones early while you can and move slowly towards to more aggressive lenders as you progress. Talk to a good mortgage broker and arrange financing before you NEED it.
14. My criteria...Any house, any condtion, any area...............my price
15. YOU MAKE YOUR MONEY WHEN YOU BUY
16. We know the market we play in very well.
17. Motivated vendors, ability to add value, ugly houses or houses a long time on the market.
18. The address of each property that had the potential to cashflow the way I wanted it (for me it was 3 bedrooom plus with garage on full site in a certain price BAND)
What it was (eg 4 bedroom plus sleepout on subdividable section)
Why the vendor was selling. (ask this verbally as you go over the houses with the agent)
The list price
What the agent THINKS you could own it for
What the property would be worth and/or would/could value to
Work to be done (general deferred maintenance and/or anywhere the agent thought value could be added)
What it would be worth DONE up and or would/could value to
What it would rent for (either as is or done up.)
19. It is also imerative that you have the ability to make decisions QUICKLY.
20. Be psychologically prepared to fail often and frequently and work on your sales and people skills (or do it in the process) and see how you go.
21. In any instance where the tenant has the right to buy or settle the property I use a P and I approach to ensure I am always reducing my debt in line with their slowly reducing purchase price.
22. 1) Either leave it interest only if I want to draw maximum cash for utilization other places AND/OR I am worried that I may not be able to refinance the property later (I subscribe to the belief that you should always try to have loans sorted before you need them)
2) Convert it to principal and interest and forget about it (when you get bigger most banks like to have a bunch of your loans being paid down anyway as it makes them feel all warm and fuzzy. Also I have found that being able to forget about things works well for me)
3) In any given entity, set up one or more of the loans as a revolving credit facility and park the spare cash there. Keep the other loans interest only. If/when you pay down one of the loans, leave the facility there and convert another one of the loans in that entity to revolving credit and continue until you need to redraw the funds or have paid down the lot and are left with a bunch of revolving credit facilities all waiting for action.
Option 3 is what I would normally recommend to most people with a small to medium sized "standard" buy and hold portfolio
23. I am a fan of both and believe that as long as you know and understand what your money is doing and why and that matches what you plan to have it doing, then there is no real right or wrong.
24. Disclosure and relationship building are very important and to this end I am happy to pay a higher interest rate and more fees and get my trading loans from elsewhere other than the main banks.
25. if someone offers me REALLY good money for a property – I will sell it.
26. if its costing you money and you can’t find a way to get out of it, cut your losses and move on.
27. I will buy any type of house that's under valued, tidy it up as required and flick it. I have done this in a range from a $35,000 property in Invercargill to a $700,000 property in Auckland and will happily go higher or lower if the deal stacks up.
28. Just keep the trades and the buy and holds in completely seperate entities.
29. over time you would have your own house and bach completely compartmentalized from the others and seperated by both entity AND ideally by LENDER.
30. What I would do starting again is:
ONE trust set up properly for buy and hold
ONE trust set up properly for trading properties
ONE trust set up properly for wealth retention (family house, batch, tons of cash and your favourite classic ferrari).
31. I won’t buy a house as a keeper unless it delivers me sufficient velocity on both my borrowings and capital. This means that I must buy it well under market and be able to refinance all my original capital out (without relying on capital gains) AND it must deliver a return on my end borrowings sufficient to not only BOOST my net borrowing power with lenders (on a debt servicing basis) but also deliver to me a REAL positive cashflow return before tax, proportional to the amount borrowed.
32. LAQCs http://www.propertytalk.co.nz/postxf3200-0-90.html
33. 1) I invest in real estate for PROFIT. CASH, CASHFLOW, and EQUITY. I want you to show me the money and I don’t care if there isn’t a single L for LOSS in there. I’m not interested in a system that is based on LOSSES and NOT DOING VERY WELL.
2) I do not want to HOLD, CREATE or GROW wealth in my own name. That is the number one point.
34. Accept the reality that if you ever want to be reasonably rich, you should try and do what rich entrepreneurs and investors DO. Think of the BIGGER picture. I want a set up that will let me play between my entities, as that is where the real money is always going to be and it is actually where I WANT it to be.
35. set yourself up in a structure that can accommodate the scenario where the bulk of your taxable revenue actually comes in from a different source other than your direct efforts (ie job).
36. In my opinion, and I am not alone, if the above don’t apply to you and you want to be rich faster than you want to be average, dump the LAQC.
37. Set up a buy and hold trust and start moving your equity across sooner rather than later.
38. If you wish to stay in control of your destiny and ramp up your wealth creation (as it relates to growth of an internally funded PI portfolio), NEVER buy a property for retail or you will have to join the rest of the masses and BUY, HOLD and PRAY the values go up. Great cashflow, but the velocity on capital in REI comes from MAKING MONEY WHEN YOU BUY. Period.
39. Trustees: I prefer trusts with a corporate trustee (instead of individuals). This gives a bunch of advantages and to put it bluntly, if your accountant looks at you with a blank face when you suggest it to him, move on.
Trust deed: The trust deed be flexible, give you all the powers and might need and should be up to date. By this last one I mean that deed should be reviewed and updated at least yearly by a legal professional (typically a specialist barrister) who is current with trust case law.
Beneficiaries: This will vary depending on your circumstances and whether or not you are also going to set up a trading trust (or be tainted in your own name).
I get the deeds reviewed by both my lawyer and a specialist barrister.
40. Assuming you have solid borrowing power nothing will give you greater direct velociy on your deposits than buying WELL below value and being able to refinance all of it (or more) out sooner rather than later.
41. Make sure you are set up right structurally so the wealth is growing where its hard for people to touch it. And don't forget to check out your own back yard over there for various investment options, not necessarily just REI either, when looking for velocity on your capital.
42. Money follows management - the better you are at what you do, the more specialised your skill set/resources and the better the track record, the less you will have to give away to do the deal. The more predictable and sustainable the investment, the lower the required return.
Put yourself on the other side of the table - if it seems fair and you (or nearly anyone) would do it if your circumstances were reversed then it is probably a fair deal.
But before you do any of these, find out what they want (so you can go and get it, and give it to them - part of KJC's three steps to being a billionaire).
43. Joint Ventures (JV)
For buy and hold, to do the deal try any or a mix of: a fee for finding and securing a GOOD deal, an ongoing management fee (this can be on the high side), a percentage share of any value increase above the purchase price (this should be on the very low side unless YOU are creating any added value)
For trading: look at a finders fee again, plus project management fee and split of the profits. OR, just a straight profit split, OR giving the financier a preferred return followed by a split of the profits OR and as the trader, this is my preference, give them a fixed GUARANTEED return (your nuts are on the line if you don't perform) and no profit split. If all goes to plan, this last one is the cheapest cost of capital for the trader and the most secure (and therefore probably lowest) return for the investor.
44. First rule, and it always is - Find out what they want.
45. Work on YOU first and foremost, but move to an easier market to get the most bang for your buck.
46. Clarity = Power.
47. When asking for their perception of market rent, make sure you word all questions along the lines of "What could YOU get this to rent for?" leave the responsibility in their court with the underlying hint that if you buy it, you would expect them to deliver just that. This normally results a more honest answer.
48. I personally would use a property manager when buying from afar anyway, so in reality this would merely be a part of the interview process anyway. If I was intending to buy and hold going into the new area then I would be at least as interested in the local demand for rental accomodation as I would be for the market rent on the property. You never know mate, if there is more demand for rental property than there is for rental accomodation then you might decide it would be more fun to TRADE in that market.
49. For determining the rent and rent market in a new area my other preferred option is phoning "for rent" adds, finding out how much they want for the rent, (and who is doing the renting, manager vs landlord), the conditiion of the house and of course, how long they have been trying to rent it and how many calls they are getting.
50. For the record if you are going pro (full-time, even for just a few weeks) then I would expect between 5 to 10 written offers to be the minimum average per "working" day. At the very least, ONE for EVERY house you physically look at. Even if you don't buy a house, you will learn a bunch and be well on your way with at least a couple of agents. (You will almost definitely buy a house.)
2. Dream VERY BIG, start small, break it into small steps and try and SYSTEMITIZE the whole thing so that it can grow itself.
3. Attend a Keith Cunningham seminar. http://www.keystothevault.com
4. I learnt a BUNCH about the power of leverage on other people's time, other peoples skill sets, and other peoples networks.
5. I have NEVER paid retail or anywhere near it for any prpoerty
6. I only buy a property that will boost my debt servicing ability.
7. The ability to take responsibility for your circumstances is very very powerful and also very enlightening.
8. buying well below market and taking care of debt servicing (I bought for cashflow and always aimed to boost my borrowing power with each purchase) and maintaining healthy LVR’s.
9. as part of my goal setting process I have PLANNED benchmarks where I am to stop and smell the roses, reassess, and decide if I am still doing what I want to be doing, for the right reasons.
10. gradually picked out the agents who were willing to work to my format.
11. a) Especially if I was a beginner, I would pick one market and get to know it very well, this gives you a performance advantage over 95% of the other buyers out there.
b) While you can buy well in any market if markets are hot where I am and I was a beginner I would move to where the going was comparatively easy, yes MOVE - or at least commute. This will make life a lot easier, there is no need to fight the herd.
c) I would go looking for agents and build my BRAND with the agents. For me it was I WILL SETTLE ON EVERYTHING THAT MEETS MY CRITERIA (this is great for agents) and especially now I CAN BUY HOUSES FOR CASH - IN THREE DAYS
d) Make written offers. Look at houses (either before or AFTER your offer, depending on you, but if you look at a house, MAKE AN OFFER). Repeat.
12. Banks look at when lending:
YOU, your history, your situation, their exposure to you, etc
LOAN TO VALUE RATIOS, both on the loan you are applying for and your entire position
DEBT SERVICING, your total existing income plus the expected income from the purchase. Most banks will look at around 75% of a residential property's gross income as being available for debt servicing. There are many interesting formulas that the different banks use but this is a general guide.
13. If you want a large portfolio make sure every property you buy to keep IMPROVES your debt servicing ability. Keep your LVR at 80% or lower where ever possible and move to different lenders early. Some lenders are much more conservative re your overall position than others. So if you want to be HUGE a good idea is to borrow from the conservative ones early while you can and move slowly towards to more aggressive lenders as you progress. Talk to a good mortgage broker and arrange financing before you NEED it.
14. My criteria...Any house, any condtion, any area...............my price
15. YOU MAKE YOUR MONEY WHEN YOU BUY
16. We know the market we play in very well.
17. Motivated vendors, ability to add value, ugly houses or houses a long time on the market.
18. The address of each property that had the potential to cashflow the way I wanted it (for me it was 3 bedrooom plus with garage on full site in a certain price BAND)
What it was (eg 4 bedroom plus sleepout on subdividable section)
Why the vendor was selling. (ask this verbally as you go over the houses with the agent)
The list price
What the agent THINKS you could own it for
What the property would be worth and/or would/could value to
Work to be done (general deferred maintenance and/or anywhere the agent thought value could be added)
What it would be worth DONE up and or would/could value to
What it would rent for (either as is or done up.)
19. It is also imerative that you have the ability to make decisions QUICKLY.
20. Be psychologically prepared to fail often and frequently and work on your sales and people skills (or do it in the process) and see how you go.
21. In any instance where the tenant has the right to buy or settle the property I use a P and I approach to ensure I am always reducing my debt in line with their slowly reducing purchase price.
22. 1) Either leave it interest only if I want to draw maximum cash for utilization other places AND/OR I am worried that I may not be able to refinance the property later (I subscribe to the belief that you should always try to have loans sorted before you need them)
2) Convert it to principal and interest and forget about it (when you get bigger most banks like to have a bunch of your loans being paid down anyway as it makes them feel all warm and fuzzy. Also I have found that being able to forget about things works well for me)
3) In any given entity, set up one or more of the loans as a revolving credit facility and park the spare cash there. Keep the other loans interest only. If/when you pay down one of the loans, leave the facility there and convert another one of the loans in that entity to revolving credit and continue until you need to redraw the funds or have paid down the lot and are left with a bunch of revolving credit facilities all waiting for action.
Option 3 is what I would normally recommend to most people with a small to medium sized "standard" buy and hold portfolio
23. I am a fan of both and believe that as long as you know and understand what your money is doing and why and that matches what you plan to have it doing, then there is no real right or wrong.
24. Disclosure and relationship building are very important and to this end I am happy to pay a higher interest rate and more fees and get my trading loans from elsewhere other than the main banks.
25. if someone offers me REALLY good money for a property – I will sell it.
26. if its costing you money and you can’t find a way to get out of it, cut your losses and move on.
27. I will buy any type of house that's under valued, tidy it up as required and flick it. I have done this in a range from a $35,000 property in Invercargill to a $700,000 property in Auckland and will happily go higher or lower if the deal stacks up.
28. Just keep the trades and the buy and holds in completely seperate entities.
29. over time you would have your own house and bach completely compartmentalized from the others and seperated by both entity AND ideally by LENDER.
30. What I would do starting again is:
ONE trust set up properly for buy and hold
ONE trust set up properly for trading properties
ONE trust set up properly for wealth retention (family house, batch, tons of cash and your favourite classic ferrari).
31. I won’t buy a house as a keeper unless it delivers me sufficient velocity on both my borrowings and capital. This means that I must buy it well under market and be able to refinance all my original capital out (without relying on capital gains) AND it must deliver a return on my end borrowings sufficient to not only BOOST my net borrowing power with lenders (on a debt servicing basis) but also deliver to me a REAL positive cashflow return before tax, proportional to the amount borrowed.
32. LAQCs http://www.propertytalk.co.nz/postxf3200-0-90.html
33. 1) I invest in real estate for PROFIT. CASH, CASHFLOW, and EQUITY. I want you to show me the money and I don’t care if there isn’t a single L for LOSS in there. I’m not interested in a system that is based on LOSSES and NOT DOING VERY WELL.
2) I do not want to HOLD, CREATE or GROW wealth in my own name. That is the number one point.
34. Accept the reality that if you ever want to be reasonably rich, you should try and do what rich entrepreneurs and investors DO. Think of the BIGGER picture. I want a set up that will let me play between my entities, as that is where the real money is always going to be and it is actually where I WANT it to be.
35. set yourself up in a structure that can accommodate the scenario where the bulk of your taxable revenue actually comes in from a different source other than your direct efforts (ie job).
36. In my opinion, and I am not alone, if the above don’t apply to you and you want to be rich faster than you want to be average, dump the LAQC.
37. Set up a buy and hold trust and start moving your equity across sooner rather than later.
38. If you wish to stay in control of your destiny and ramp up your wealth creation (as it relates to growth of an internally funded PI portfolio), NEVER buy a property for retail or you will have to join the rest of the masses and BUY, HOLD and PRAY the values go up. Great cashflow, but the velocity on capital in REI comes from MAKING MONEY WHEN YOU BUY. Period.
39. Trustees: I prefer trusts with a corporate trustee (instead of individuals). This gives a bunch of advantages and to put it bluntly, if your accountant looks at you with a blank face when you suggest it to him, move on.
Trust deed: The trust deed be flexible, give you all the powers and might need and should be up to date. By this last one I mean that deed should be reviewed and updated at least yearly by a legal professional (typically a specialist barrister) who is current with trust case law.
Beneficiaries: This will vary depending on your circumstances and whether or not you are also going to set up a trading trust (or be tainted in your own name).
I get the deeds reviewed by both my lawyer and a specialist barrister.
40. Assuming you have solid borrowing power nothing will give you greater direct velociy on your deposits than buying WELL below value and being able to refinance all of it (or more) out sooner rather than later.
41. Make sure you are set up right structurally so the wealth is growing where its hard for people to touch it. And don't forget to check out your own back yard over there for various investment options, not necessarily just REI either, when looking for velocity on your capital.
42. Money follows management - the better you are at what you do, the more specialised your skill set/resources and the better the track record, the less you will have to give away to do the deal. The more predictable and sustainable the investment, the lower the required return.
Put yourself on the other side of the table - if it seems fair and you (or nearly anyone) would do it if your circumstances were reversed then it is probably a fair deal.
But before you do any of these, find out what they want (so you can go and get it, and give it to them - part of KJC's three steps to being a billionaire).
43. Joint Ventures (JV)
For buy and hold, to do the deal try any or a mix of: a fee for finding and securing a GOOD deal, an ongoing management fee (this can be on the high side), a percentage share of any value increase above the purchase price (this should be on the very low side unless YOU are creating any added value)
For trading: look at a finders fee again, plus project management fee and split of the profits. OR, just a straight profit split, OR giving the financier a preferred return followed by a split of the profits OR and as the trader, this is my preference, give them a fixed GUARANTEED return (your nuts are on the line if you don't perform) and no profit split. If all goes to plan, this last one is the cheapest cost of capital for the trader and the most secure (and therefore probably lowest) return for the investor.
44. First rule, and it always is - Find out what they want.
45. Work on YOU first and foremost, but move to an easier market to get the most bang for your buck.
46. Clarity = Power.
47. When asking for their perception of market rent, make sure you word all questions along the lines of "What could YOU get this to rent for?" leave the responsibility in their court with the underlying hint that if you buy it, you would expect them to deliver just that. This normally results a more honest answer.
48. I personally would use a property manager when buying from afar anyway, so in reality this would merely be a part of the interview process anyway. If I was intending to buy and hold going into the new area then I would be at least as interested in the local demand for rental accomodation as I would be for the market rent on the property. You never know mate, if there is more demand for rental property than there is for rental accomodation then you might decide it would be more fun to TRADE in that market.
49. For determining the rent and rent market in a new area my other preferred option is phoning "for rent" adds, finding out how much they want for the rent, (and who is doing the renting, manager vs landlord), the conditiion of the house and of course, how long they have been trying to rent it and how many calls they are getting.
50. For the record if you are going pro (full-time, even for just a few weeks) then I would expect between 5 to 10 written offers to be the minimum average per "working" day. At the very least, ONE for EVERY house you physically look at. Even if you don't buy a house, you will learn a bunch and be well on your way with at least a couple of agents. (You will almost definitely buy a house.)
TIPS ON BUYING INVESTMENT PROPERTIES
"You don't buy cash-positive properties - you create them!" 
04-04-2005, 08:30 PM
TIP - Just remember the REAL DEALS are not there waiting for you. They are only there briefly when you just happen to be looking in the right place at the right time. RonHoyFong
TIP - “Set goals. Achieve them. Enjoy the journey.” - Julian
TIP - REMEMBER - THE REAL DEALS ARE NOT FOUND AT THE AVERTISED PRICE; THEY ARE FOUND AT THE NEGOTIATED PRICE. RonHoyFong
TIP - "WHAT IS THE SELLING RANGE?" RonHoyFong
TIP - WORDS CAN INSPIRE, THOUGHTS CAN PROVOKE, BUT ONLY ACTION TRULY BRINGS YOU CLOSER TO YOUR DREAMS. " GET INTO ACTION ! " RonHoyFong
TIP - NEVER PUT AN OFFER IN TWICE IN A ROW. RonHoyFong
TIP - NEVER USE YOUR COMPANY NAME AS IT TELL THE VENDOR YOU ARE AN INVESTOR, INSTEAD USE YOUR PERSONAL NAME AND OR NOMINEE. RonHoyFong
TIP – “DEALS DON’T START HAPPENING UNTIL YOU START HAPPENING TO PUT IN THE OFFERS.” RonHoyFong
TIP – BUY ONLY INVESTMENT PROPERTIES THAT YOU CAN ADD VALUE TO INCREASE YOUR EQUITY. RonHoyFong
TIP - "Please remember that Free Advice from those who think they know the answer is often the most expensive. Ask any of those that give such critical advice first whether they seriously participate in what they preach, you often find that they speak from bad experiences rather than good experiences." RonHoyFong
TIP - "If you didn't get anything out of the seminar then don't blame the teachers because that won't change them, you need to blame yourself and it is your own attitude you need to change before you can go ahead." RonHoyFong
TIP - “Set goals. Achieve them. Enjoy the journey.” - Julian
TIP - REMEMBER - THE REAL DEALS ARE NOT FOUND AT THE AVERTISED PRICE; THEY ARE FOUND AT THE NEGOTIATED PRICE. RonHoyFong
TIP - "WHAT IS THE SELLING RANGE?" RonHoyFong
TIP - WORDS CAN INSPIRE, THOUGHTS CAN PROVOKE, BUT ONLY ACTION TRULY BRINGS YOU CLOSER TO YOUR DREAMS. " GET INTO ACTION ! " RonHoyFong
TIP - NEVER PUT AN OFFER IN TWICE IN A ROW. RonHoyFong
TIP - NEVER USE YOUR COMPANY NAME AS IT TELL THE VENDOR YOU ARE AN INVESTOR, INSTEAD USE YOUR PERSONAL NAME AND OR NOMINEE. RonHoyFong
TIP – “DEALS DON’T START HAPPENING UNTIL YOU START HAPPENING TO PUT IN THE OFFERS.” RonHoyFong
TIP – BUY ONLY INVESTMENT PROPERTIES THAT YOU CAN ADD VALUE TO INCREASE YOUR EQUITY. RonHoyFong
TIP - "Please remember that Free Advice from those who think they know the answer is often the most expensive. Ask any of those that give such critical advice first whether they seriously participate in what they preach, you often find that they speak from bad experiences rather than good experiences." RonHoyFong
TIP - "If you didn't get anything out of the seminar then don't blame the teachers because that won't change them, you need to blame yourself and it is your own attitude you need to change before you can go ahead." RonHoyFong
__________________
"Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy."
Groucho Marx
TIP - Try this tip next time you are buying, put on the S&P Agreement:
Purchaser is allowed access to make improvements to the property as soon as deposit is paid.
TIP- Find a good agent. An example is my good Pukekohe agent insisted I attend an auction in Aug last year(which I don't usually bother with during a boom) as she perceived a lack of buyer interest and the vendors were off to Aussie. I picked it up for $150K. She had a conditional buyer who immediately signed it up for $185K.
The conditional buyers hadn't had much luck selling their own home due to poor performance by the local agent in Waiuku so my agent convinced them to change to her. She found them a buyer as well.
So three commissions later and we are all happy.
Thats an example of a great agent (and no, she wasn't the one who told the first vendors that an auction was the way to go in an below average area in town !!!).
She only contacts me when there is a good deal in the offering, meeting my criteria. She doesn't waste my time telling me about all her listings.
After three years I have only found three agents this good so far (four if I count the one who specialises in life style blocks and helped us with our own properties, but well outside my investment niche!!)
TIP - You don't need to spend thousands of dollars going to seminars where there will be a lot of motivational speakers who can get you blood racing through your veins, your head fill of dreams and your bank balance sooo much emptier.
There are a lot of good books available. Beg, borrow, buy or steal (who said that ) a wide variety of these books to read. Nobody has all the answers but somewhere amongst these books collectively you will be able to come up with a plan that will suit you and your risk tolerance levels.
"Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy."
Groucho Marx
TIP - Try this tip next time you are buying, put on the S&P Agreement:
Purchaser is allowed access to make improvements to the property as soon as deposit is paid.
TIP- Find a good agent. An example is my good Pukekohe agent insisted I attend an auction in Aug last year(which I don't usually bother with during a boom) as she perceived a lack of buyer interest and the vendors were off to Aussie. I picked it up for $150K. She had a conditional buyer who immediately signed it up for $185K.
The conditional buyers hadn't had much luck selling their own home due to poor performance by the local agent in Waiuku so my agent convinced them to change to her. She found them a buyer as well.
So three commissions later and we are all happy.
Thats an example of a great agent (and no, she wasn't the one who told the first vendors that an auction was the way to go in an below average area in town !!!).
She only contacts me when there is a good deal in the offering, meeting my criteria. She doesn't waste my time telling me about all her listings.
After three years I have only found three agents this good so far (four if I count the one who specialises in life style blocks and helped us with our own properties, but well outside my investment niche!!)
TIP - You don't need to spend thousands of dollars going to seminars where there will be a lot of motivational speakers who can get you blood racing through your veins, your head fill of dreams and your bank balance sooo much emptier.
There are a lot of good books available. Beg, borrow, buy or steal (who said that ) a wide variety of these books to read. Nobody has all the answers but somewhere amongst these books collectively you will be able to come up with a plan that will suit you and your risk tolerance levels.
#3
04-04-2005, 08:30 PM
MY JOURNEY TO FINANCIAL FREEDOM AND BEYOND
Hi there I am Robyn Grinter, the lovely Donna who hosts this site has asked me to write an article for you on how I paved my way to financial freedom and beyond, starting with my unconscious unawareness of what I was doing to the present day. Where my family and I live the life of our dreams, and I work when I feel like it because I am loving what I am doing and not working because I have to work. I have 180 properties under my belt and counting. I hope I can help inspire some of you to take some action in your own lives to get yourselves ahead to a place you would like to be.
The story picks up here………….
From as early as I can remember I used to day dream, infact I didn’t do very well at school because of it, I was thinking of what I would do after school or what I would like in my life. I guess I have had a pretty strong drive really as I used to get a lot of those things into my life I had dreamed about and as time went on I started to think that this might be more than coincidence that these things I used to dream about were suddenly coming into my life. so I experimented a bit and as I called it then wished for things, I now realize I was wishing in a very positive way, infact I actually believed I already had these things in my life so of course in due course I would get them.
Now to skip ahead here to 1998 we owned our home and had a successful business which we were both working full time in, we had also managed to get financing to build the building our business was in, this was financed 100% by the bank, we had purchased the section with some shares we sold, had done quite well on the share market I used to think it was luck but I realized I was developing that intuition or inner voice and I was guided by that to a large extent, I always had a feeling my passion was property, I had always been drawn to it, not in a way most women are, I don’t care what the house looks like as long as I can make some money out of it so I am not into really prettying them up, infact if they will rent as is I just leave them normally just doing what needs doing as ongoing maintenance. I also have everything managed so once I have bought the property I just pass it onto someone else to manage. They organise anything that needs doing.
In 1998 I saw this course advertised it mentioned improve your memory, loose weight without dieting, stop smoking(not that I smoked) and other things but at the time most important to me is it advertised ,non religious and not hypnotising. ( I might add there I had major hang ups about both religion and hypnotism) so I went along. The course was called alpha global, they later changed the name, it was run by an Australian he now does it as part of another seminar which involves business and investment options too, one of these years I will get to it, dates have never worked in with us and the only time they did they changed the date on us. Still I am hopeful I will get there someday. Besides my story will make an interesting talk, this was the course that turned my life around. Many people have times in their lives where their whole world changed, this was the first really big one for me. I had certainly had others I realize now because some of the negative stuff that happened as a kid helped give me the courage and determination I have now and this course helped cement it in for me. It made me realize I was bringing the good luck into my life I currently had, (yes sure I had barriers to get through like we all do but I was pretty determined nothing was going to stop me) I also realized those things I used to dream about when I was younger and older as I never stopped dreaming I had bought into my life by concentrating on. Now some of you are switching off by now I am sure but I ask you to bare with me and open your mind to what MIGHT BE for you if you dare to dream.
I used to be an angry, impatient person before I went to this course, so I also learned at it to relax and not be angry. This was HUGE for me as I really had no idea before how to do that, I was quite tense all the time (not a good feeling) It is strange really but once you really develop belief and trust in yourself things start to happen, you can just be talking about something you desire and it will happen as you speak or you will put your hand on a book and get exactly the answer you need to a question you have on your mind from it. this happens to me all the time now so I am just grateful for the experience, I thank myself all the time (now I know some of you think I’m nuts but that’s ok I can live with that, I was told at that course your mind likes to be thanked so I do it, also thank the universe or god as I know somehow I am getting other help) I think we all have to be a bit mad to get ahead in this life. there are many other books you can get and cds to help you deal with things in life and I have read a number of books now and listen to cds often in my car.
I made a number of goals at this course something I never had done before consciously. This time I wrote them down, this was new to me. One of them was 50 rentals. Another was to move house, annual family overseas holidays and there were plenty more, I also remember after it sitting with my eyes shut visualising all these things in my life and believe me at that point in my life it would have seemed fairly impossible.
6 months after this course I started reading (another thing I never used to do) read the ususal ones, think and grow rich, if you want to be rich and happy don’t go to school and of course rdpd everyone knows and his other books too. reading Roberts books made me feel fantastic, I realized I was on the right track, I just had to turn the “S” business into a “B’ business then I could go out and be an “I” . read the book “Rich dad poor dad” if you don’t know what I mean. So that’s what I did. (not immediately though) the time for me to leave work was not right instead I convinced myself I enjoyed work instead of resenting being there which made things much better. I did a few other courses over the next couple of years, a one day one of Robert Kiyosaki which he mentioned you need to be on the inside of the deals to get the great ones, didn’t understand what he ment at the time. (funny how naive some of us are) I also bought the cashflow game, learned heaps from that game alone. I went out and bought some negatively geared flats too just because I didn’t realize you could get positive cashflow, we had 2 rental houses I had bought over the years which I had paid off so were using the income from them to pay the loan,I was so proud of myself for getting them at the time, it wasn’t till later I would realize what a BAD investment they were. At the end of 99 I did a dolf deroos course a weekend one, this was really scary as it was by a long shot the most expensive one I had done, and from that I got “ you have to buy wholesale” and “the deal of the decade comes along about once a week.” I went out after that and bought 2 properties for 70% of value. Took me 3 months to find them. But I had proved it worked and I had positive cashflow, Then I STOPPED party because the bank said no more and at that time I used to listen to that.
So in Dec of 2000 John Burley came to Auckland, I just had to go, at the time we had no money and my husband was really against this investing thing now, kept telling me no more. But I got there and that was the next turn in my life. I realized I could stop listening to all these people who said it cant be done and just go out and do it. I also realized how badly negatively geared these flats were by using a debt reduction plan John gave us. I didn’t have personal debt but of course I had realestate debt and the numbers on those flats sucked!!! We were also in a flat market so when I inquired about selling that wasn’t an option either. Wont go on about them they are history I eventually sold them about 2 years later at a loss but I was glad to get rid of them and I learned heaps from that.
I had come away from Automatic Wealth which was the name of the course John Burley taught with the idea I can do some of this quick cash he talked about and get there, I also realized at that course I didn’t have to keep everything I bought. Up to then I thought I did as I had the mind set they were hard to come by. I also quit work at the beginning of 2001 the time was finally right hired someone to replace me.
From John’s course here I went to his Realestate Investing bootcamp in Phoenix Arizona, again against many other peoples wishes, and made it happen really, in that first year I bought 50 houses, mostly positive cashflow, I did a few instalment sales (wraps)which John was really passionate about at the time, I didn’t feel deep down they were for me but they served a purpose at the time as I was on a mission (didn’t realize it at the time) the market was flat remember, for every house I bought at the time and I was buying mainly 20 to 30% below value I could see another 4 I couldn’t manage to take, not my lack of action it was just the banks were having a job keeping up with it, as was the accountant and lawyer still that was enough for the year, the instalment contracts helped pay the slight negativity on some of the properties I bought which I had high equity in, you see my intention was to sell some down once the market changed.
I did scare myself when I realized what I had done after those 50 and stopped buying for a few months. Still I have made up for it now.
Now I will tell you here is all you need to do is believe in yourself and you can create miracles literally and millions of dollars of profit for yourself and who ever you choose to share it with. To date at the time of writing this 22nd June 2005 I have bought close to 180 properties I have sold many for a profit, I have continued to educate myself and do a number of courses a year as one thing I have got from these great teachers is continuing education is very important. So I still do a number of courses each year and help staff some I have done.
One thing I should add here is I found the goals I had written out after the course in 1998 and when I read through them I had done EVERYTHING, I had forgotten I had written them, it was some years later I found them like about 2 years ago, I had even put we are moving house in 2003 as when I asked my mind that was the answer I got, what I didn’t know at the time it would be move to the house next door which we purchased and did a make over on our own home and doubled the size of it before moving back in2004 funny how things turn out not always what you expect, we live on 25 acres which is in the city boundary still many years away from development which is just as well don’t want to move again too soon.
I do still have a vision of a property on the coast with my own beach, I think it will be a farm which I will pay someone to run, some native bush would be nice too, not sure where it will be yet but it needs to be warm, if in NZ it will have to be up north but if I can convince the family to move maybe Cairns or Noosa would be good. Still when the time is right the right property will come. Of course it may not be in any of those places but I do trust it will come when the time is right.
I use the trading I do to pay down the loans on houses I plan to keep for the long term, I have houses all over NZ now including a couple of nice lifestyle houses we use ourselves, you can create this cool life for yourselves too if you are brave enough to face your fear and do it anyway. There are people who can help you deal with any issue you have in your life, infact that is one of my goals in the future to do some wealth coaching I call it, helping people get ahead in life and deal with their fears, I need to do more educating myself though there before I can teach it, one of the other courses I attended in 2003 gave me my life purpose and that is to help other people, that is what drives me nowadays I still plan to go on buying houses as I love doing it, I am doing a lot for others now, I offer nearly everything I purchase out to a list of investors for a finding fee if they don’t take them I just purchase them myself some I will onsell and some I put into my keeping trust. I also set up a charitable trust last year as it is a wonderful feeling to give back
We regularly have family holidays now, many overseas, we have made a lot of friends in Australia and USA because of the number of trips we do, this is a really cool life now not having to work, I basically just work when I feel like it and when you get a good number of agents on your side the deals come straight into your lap so you don’t even have to do the leg work to find them. The one I had faxed today was a classic, this was already signed by the seller so all I had to do was sign and it was a done deal, I love those ones!!! We get to go to the kids school things and school camps etc as we are not tied to jobs, my husband and I often go out for lunch or dinner. Now I am not trying to skite and I am sorry if you think this is so I just want to inspire you to make a better life for you and your family.
I have read a few posts and realize there are knockers there, I feel sorry for you people who choose to knock others who are successful, your energy would be better spent trying to get some posativity into your own lives, the statistics are alarming on people who are in jobs they don’t like, get your self out of it maybe realeaste isn’t the tool for you but I urge you to seek for it, just keep asking yourself what it is you would like to do and then just take notice of the opportunities that are put in front of you. I have been asked to write this by Donna, the wonderful lady who set his up along with her husband. I met Donna a couple of weekends ago at a financial education seminar we were both attending.
Also teach your children to think on financial education as well as what they get at school, I know some will disagree with me and I don’t say you shouldn’t do well at school infact I think people should try their hardest as you have more opportunities open to you if you get good grades, but please teach your kids to invest so they are working because it is something they love doing and not because it is something they have to do to survive. I know I have been preaching to mine for a few years now and they are certainly open to financial education and how they can make it work for them. The older one asked a couple of years ago whey they don’t teach investing in school????? Good question. I guess we need to educate the teachers first though.
All the best on your own path to wealth I wont be on the forum every day but I will try to get there every few days and answer any questions the best I can.
Robyn Grinter
PS
I dont think my success was just timing either, as you WOULDNT BELEIVE the number of people out there when i started buying saying "why are you buying NOW" of course the market was flat, and even though many who stopped investing when things got heated up and say they are waiting for a down again, I bet they dont invest or if they do they are bound to time it wrong. FEAR stops people and that fear can be fear of all kinds of things. It is just like now when things are still pretty hot people are still madly buying but many are buying negative stuff which they can hardly afford. there are deals to be had in any market I firmly beleive that, the deal of the decade comes along every single week. in any market, you just have to adapt to what the market is doing and always buy wholesale. As for no good agents, I had to find them when I started they would still be there if i had to start again, an agent who i consider good might not be the same agent you consider good either, you need someone you can get on with.
Dont talk about the market being tough or you will beleive it too. You get what you focus on and I am living proof of that so focus on being a very successful realestate investor and you will become one.
Just get out there and make it happen.
Good Luck
Robyn
The story picks up here………….
From as early as I can remember I used to day dream, infact I didn’t do very well at school because of it, I was thinking of what I would do after school or what I would like in my life. I guess I have had a pretty strong drive really as I used to get a lot of those things into my life I had dreamed about and as time went on I started to think that this might be more than coincidence that these things I used to dream about were suddenly coming into my life. so I experimented a bit and as I called it then wished for things, I now realize I was wishing in a very positive way, infact I actually believed I already had these things in my life so of course in due course I would get them.
Now to skip ahead here to 1998 we owned our home and had a successful business which we were both working full time in, we had also managed to get financing to build the building our business was in, this was financed 100% by the bank, we had purchased the section with some shares we sold, had done quite well on the share market I used to think it was luck but I realized I was developing that intuition or inner voice and I was guided by that to a large extent, I always had a feeling my passion was property, I had always been drawn to it, not in a way most women are, I don’t care what the house looks like as long as I can make some money out of it so I am not into really prettying them up, infact if they will rent as is I just leave them normally just doing what needs doing as ongoing maintenance. I also have everything managed so once I have bought the property I just pass it onto someone else to manage. They organise anything that needs doing.
In 1998 I saw this course advertised it mentioned improve your memory, loose weight without dieting, stop smoking(not that I smoked) and other things but at the time most important to me is it advertised ,non religious and not hypnotising. ( I might add there I had major hang ups about both religion and hypnotism) so I went along. The course was called alpha global, they later changed the name, it was run by an Australian he now does it as part of another seminar which involves business and investment options too, one of these years I will get to it, dates have never worked in with us and the only time they did they changed the date on us. Still I am hopeful I will get there someday. Besides my story will make an interesting talk, this was the course that turned my life around. Many people have times in their lives where their whole world changed, this was the first really big one for me. I had certainly had others I realize now because some of the negative stuff that happened as a kid helped give me the courage and determination I have now and this course helped cement it in for me. It made me realize I was bringing the good luck into my life I currently had, (yes sure I had barriers to get through like we all do but I was pretty determined nothing was going to stop me) I also realized those things I used to dream about when I was younger and older as I never stopped dreaming I had bought into my life by concentrating on. Now some of you are switching off by now I am sure but I ask you to bare with me and open your mind to what MIGHT BE for you if you dare to dream.
I used to be an angry, impatient person before I went to this course, so I also learned at it to relax and not be angry. This was HUGE for me as I really had no idea before how to do that, I was quite tense all the time (not a good feeling) It is strange really but once you really develop belief and trust in yourself things start to happen, you can just be talking about something you desire and it will happen as you speak or you will put your hand on a book and get exactly the answer you need to a question you have on your mind from it. this happens to me all the time now so I am just grateful for the experience, I thank myself all the time (now I know some of you think I’m nuts but that’s ok I can live with that, I was told at that course your mind likes to be thanked so I do it, also thank the universe or god as I know somehow I am getting other help) I think we all have to be a bit mad to get ahead in this life. there are many other books you can get and cds to help you deal with things in life and I have read a number of books now and listen to cds often in my car.
I made a number of goals at this course something I never had done before consciously. This time I wrote them down, this was new to me. One of them was 50 rentals. Another was to move house, annual family overseas holidays and there were plenty more, I also remember after it sitting with my eyes shut visualising all these things in my life and believe me at that point in my life it would have seemed fairly impossible.
6 months after this course I started reading (another thing I never used to do) read the ususal ones, think and grow rich, if you want to be rich and happy don’t go to school and of course rdpd everyone knows and his other books too. reading Roberts books made me feel fantastic, I realized I was on the right track, I just had to turn the “S” business into a “B’ business then I could go out and be an “I” . read the book “Rich dad poor dad” if you don’t know what I mean. So that’s what I did. (not immediately though) the time for me to leave work was not right instead I convinced myself I enjoyed work instead of resenting being there which made things much better. I did a few other courses over the next couple of years, a one day one of Robert Kiyosaki which he mentioned you need to be on the inside of the deals to get the great ones, didn’t understand what he ment at the time. (funny how naive some of us are) I also bought the cashflow game, learned heaps from that game alone. I went out and bought some negatively geared flats too just because I didn’t realize you could get positive cashflow, we had 2 rental houses I had bought over the years which I had paid off so were using the income from them to pay the loan,I was so proud of myself for getting them at the time, it wasn’t till later I would realize what a BAD investment they were. At the end of 99 I did a dolf deroos course a weekend one, this was really scary as it was by a long shot the most expensive one I had done, and from that I got “ you have to buy wholesale” and “the deal of the decade comes along about once a week.” I went out after that and bought 2 properties for 70% of value. Took me 3 months to find them. But I had proved it worked and I had positive cashflow, Then I STOPPED party because the bank said no more and at that time I used to listen to that.
So in Dec of 2000 John Burley came to Auckland, I just had to go, at the time we had no money and my husband was really against this investing thing now, kept telling me no more. But I got there and that was the next turn in my life. I realized I could stop listening to all these people who said it cant be done and just go out and do it. I also realized how badly negatively geared these flats were by using a debt reduction plan John gave us. I didn’t have personal debt but of course I had realestate debt and the numbers on those flats sucked!!! We were also in a flat market so when I inquired about selling that wasn’t an option either. Wont go on about them they are history I eventually sold them about 2 years later at a loss but I was glad to get rid of them and I learned heaps from that.
I had come away from Automatic Wealth which was the name of the course John Burley taught with the idea I can do some of this quick cash he talked about and get there, I also realized at that course I didn’t have to keep everything I bought. Up to then I thought I did as I had the mind set they were hard to come by. I also quit work at the beginning of 2001 the time was finally right hired someone to replace me.
From John’s course here I went to his Realestate Investing bootcamp in Phoenix Arizona, again against many other peoples wishes, and made it happen really, in that first year I bought 50 houses, mostly positive cashflow, I did a few instalment sales (wraps)which John was really passionate about at the time, I didn’t feel deep down they were for me but they served a purpose at the time as I was on a mission (didn’t realize it at the time) the market was flat remember, for every house I bought at the time and I was buying mainly 20 to 30% below value I could see another 4 I couldn’t manage to take, not my lack of action it was just the banks were having a job keeping up with it, as was the accountant and lawyer still that was enough for the year, the instalment contracts helped pay the slight negativity on some of the properties I bought which I had high equity in, you see my intention was to sell some down once the market changed.
I did scare myself when I realized what I had done after those 50 and stopped buying for a few months. Still I have made up for it now.
Now I will tell you here is all you need to do is believe in yourself and you can create miracles literally and millions of dollars of profit for yourself and who ever you choose to share it with. To date at the time of writing this 22nd June 2005 I have bought close to 180 properties I have sold many for a profit, I have continued to educate myself and do a number of courses a year as one thing I have got from these great teachers is continuing education is very important. So I still do a number of courses each year and help staff some I have done.
One thing I should add here is I found the goals I had written out after the course in 1998 and when I read through them I had done EVERYTHING, I had forgotten I had written them, it was some years later I found them like about 2 years ago, I had even put we are moving house in 2003 as when I asked my mind that was the answer I got, what I didn’t know at the time it would be move to the house next door which we purchased and did a make over on our own home and doubled the size of it before moving back in2004 funny how things turn out not always what you expect, we live on 25 acres which is in the city boundary still many years away from development which is just as well don’t want to move again too soon.
I do still have a vision of a property on the coast with my own beach, I think it will be a farm which I will pay someone to run, some native bush would be nice too, not sure where it will be yet but it needs to be warm, if in NZ it will have to be up north but if I can convince the family to move maybe Cairns or Noosa would be good. Still when the time is right the right property will come. Of course it may not be in any of those places but I do trust it will come when the time is right.
I use the trading I do to pay down the loans on houses I plan to keep for the long term, I have houses all over NZ now including a couple of nice lifestyle houses we use ourselves, you can create this cool life for yourselves too if you are brave enough to face your fear and do it anyway. There are people who can help you deal with any issue you have in your life, infact that is one of my goals in the future to do some wealth coaching I call it, helping people get ahead in life and deal with their fears, I need to do more educating myself though there before I can teach it, one of the other courses I attended in 2003 gave me my life purpose and that is to help other people, that is what drives me nowadays I still plan to go on buying houses as I love doing it, I am doing a lot for others now, I offer nearly everything I purchase out to a list of investors for a finding fee if they don’t take them I just purchase them myself some I will onsell and some I put into my keeping trust. I also set up a charitable trust last year as it is a wonderful feeling to give back
We regularly have family holidays now, many overseas, we have made a lot of friends in Australia and USA because of the number of trips we do, this is a really cool life now not having to work, I basically just work when I feel like it and when you get a good number of agents on your side the deals come straight into your lap so you don’t even have to do the leg work to find them. The one I had faxed today was a classic, this was already signed by the seller so all I had to do was sign and it was a done deal, I love those ones!!! We get to go to the kids school things and school camps etc as we are not tied to jobs, my husband and I often go out for lunch or dinner. Now I am not trying to skite and I am sorry if you think this is so I just want to inspire you to make a better life for you and your family.
I have read a few posts and realize there are knockers there, I feel sorry for you people who choose to knock others who are successful, your energy would be better spent trying to get some posativity into your own lives, the statistics are alarming on people who are in jobs they don’t like, get your self out of it maybe realeaste isn’t the tool for you but I urge you to seek for it, just keep asking yourself what it is you would like to do and then just take notice of the opportunities that are put in front of you. I have been asked to write this by Donna, the wonderful lady who set his up along with her husband. I met Donna a couple of weekends ago at a financial education seminar we were both attending.
Also teach your children to think on financial education as well as what they get at school, I know some will disagree with me and I don’t say you shouldn’t do well at school infact I think people should try their hardest as you have more opportunities open to you if you get good grades, but please teach your kids to invest so they are working because it is something they love doing and not because it is something they have to do to survive. I know I have been preaching to mine for a few years now and they are certainly open to financial education and how they can make it work for them. The older one asked a couple of years ago whey they don’t teach investing in school????? Good question. I guess we need to educate the teachers first though.
All the best on your own path to wealth I wont be on the forum every day but I will try to get there every few days and answer any questions the best I can.
Robyn Grinter
PS
I dont think my success was just timing either, as you WOULDNT BELEIVE the number of people out there when i started buying saying "why are you buying NOW" of course the market was flat, and even though many who stopped investing when things got heated up and say they are waiting for a down again, I bet they dont invest or if they do they are bound to time it wrong. FEAR stops people and that fear can be fear of all kinds of things. It is just like now when things are still pretty hot people are still madly buying but many are buying negative stuff which they can hardly afford. there are deals to be had in any market I firmly beleive that, the deal of the decade comes along every single week. in any market, you just have to adapt to what the market is doing and always buy wholesale. As for no good agents, I had to find them when I started they would still be there if i had to start again, an agent who i consider good might not be the same agent you consider good either, you need someone you can get on with.
Dont talk about the market being tough or you will beleive it too. You get what you focus on and I am living proof of that so focus on being a very successful realestate investor and you will become one.
Just get out there and make it happen.
Good Luck
Robyn
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