Not to Be Missed - "This Man has the Secret to Early Retirement"

[lewyh]

Agreed, it's not a passive income if you still have to do stuff. Thing is, he might enjoy doing that stuff or the challenge of what he's doing - that's when it becomes a hobby.

Admittedly, I used to find property investment fun before they brought out the 20% LVR rule - because it was easy for me to play financial games. Now I'm turning more to shares as investments (of late)

[Wayne]

Admittedly, I used to find property investment fun before they brought out the 20% LVR rule - because it was easy for me to play financial games. Now I'm turning more to shares as investments (of late)

I hpe you are declaring your share trading though you seem to make mostly losses at the moment.

[lewyh]

Yeah it sucks at the moment, it was going so well when I started I have faith and am learning with every trade.

I think I'll have to talk to the accountant to see what I need to do with these at the end of the year, because I'm terrible with tax and govt forms (ironically, working in a govt department).

Thanks

[Wayne]

Yeah it sucks at the moment, it was going so well when I started I have faith and am learning with every trade.

I think I'll have to talk to the accountant to see what I need to do with these at the end of the year,

I think you do need to talk to someone.
Seems to me your trades are very short term and you swing around on your strategy.

[lewyh]

I think you do need to talk to someone.
Seems to me your trades are very short term and you swing around on your strategy.

We'll see. So far I've made 2% on my money (inc dividends) and I've only been going about a month or so. To be honest, my trades are pretty short mainly because I'm inpatient and trading it fun - the waiting is not lol. However, I'd love any advice seasoned investors can offer - mistakes they've made, how you think the markets move, strategies or resources you use, etc...

I'm a bit of an odd ball because I love to try to discover and work thing out myself, but at the same time I do appreciate advice from people who've been doing something longer than me... I'm just enjoying my play time at the moment

[Wayne]

However, I'd love any advice seasoned investors can offer - mistakes they've made, how you think the markets move, strategies or resources you use, etc...

This is a property forum - I think you want a share trading forum.

[jrad]

Can anyone give some feedback on how this went last night. Really wanted to make it but couldn't get down from Auckland. Some of the Apia evens are filmed and put online, hoping this one was too...

[orion]

easy to get money when you already have money

Jim O, that's a poor persons perspective - it takes money to make money.

The more financial intelligence you have, the less money you need to make money. But with low financial intelligence, it takes a lot if money to make a little bit and often end up losing it. Has nothing to do with having it in order to make it.

[orion]

Yes to call that retired is quite funny. He works harder than most people you can be sure of that!

Hi Damap

Maybe in the earlier days, but definitely not these days. I talked about that last night actually, the 21 buy and holds took a lot less than 100 hours in total over the year to organise and set up. That will in turn create $3 million (in todays values) worth of freehold property and approx. $19k cash flow a month in 20 years time.

A lot of people (like Jim O) want to get there now without doing all the learning and hard work at the beginning. Making all the good connections and building a team of people around you to help you achieve what you are wanting. It's a bit like a plane taking off on the run-way. It needs a lot of power and energy to get it moving and get off the ground, and it's not until it reaches altitude that the throttle can be pulled back and then it is easy. Most people want to be at altitude by short cutting it all, without doing any of the work required in the beginning.

This year I'm taking it easy, doing some travelling in NZ and overseas and also helping other local investors with what they want to achieve. A group of 80 HB people I've been working with for about 8 months now for free, has been very rewarding.

[Rosco]

Can anyone give some feedback on how this went last night. Really wanted to make it but couldn't get down from Auckland. Some of the Apia evens are filmed and put online, hoping this one was too...

Hi jrad,

Yes went really well and I really enjoyed it. The two best points for me
1) hearing Graeme's rules on buying over the last year
2) a negotiation strategy that he uses

If you give me an email or a PM with your email address, I might be nice and email you my notes from the night. They are pretty simple notes, but you should still pick up some good points from them.

Ross

[orion]

Thanks Ross

Was a really good evening, with lots of questions which I always welcome as it gives a lot more interaction with the audience.

You have a great PIA there Ross, lots of interesting people out there doing it and wanting to learn.

Graeme

[jimO]

A lot of people (like Jim O) want to get there now without doing all the learning and hard work at the beginning.

dont bring me into it im happy to work till i die, i have had a rental for over 10 years with a elderly tenant that pays no rent and has never paid, and never will and this week im spending several thousand on a new bathroom im not in it for the money...........my point about being easy to get money if you have money was if you were johhnny no name just a regular s@$tkikker there is no way the bank or whoever was lending the cash would let you do what you did, but they all know your some big shot landlord with millions behind you

[eri]

the forum now blessed

with 2

snide boys

snide
snʌɪd/
adjective

• 1.
  derogatory or mocking in an indirect way.
• "snide remarks about my mother"
  

  synonyms:

  disparaging, derogatory, deprecating, deprecatory, denigratory,insulting, vituperative, disapproving, contemptuous;

• 2.
  NORTH AMERICAN
  (of a person) devious and underhand.

noun informal

• 1.
  an unpleasant or underhand person.
  "he's not a snide, he's better than most"

[orion]

my point about being easy to get money if you have money was if you were johhnny no name just a regular sh@$kikker there is no way the bank or whoever was lending the cash would let you do what you did, but they all know your some big shot landlord with millions behind you

That may be the case now, but wasn't that way in the beginning. I had no money, then lost $40k on my 1st deal which I sold 7 years later, leaving me with nothing again.
I learnt a lot from it, but even a few years later could not get finance for 2 years from 1998 - 2000 when I didn't have a job or any income. Was persistence and determination for those two years that did it, not giving up or being a victim about it.

[Wayne]

Orion started as a johhnny no name regular shitkikker and worked to get where he is now - others can do the same.
They may not do it as fast but they can get there.

It really annoys me when people say 'you're lucky to have xxx' - luck had nothing to do with it.
I have what I have because I made decisions and choises along the way.

Good on you, though, jimO for knowing what you want and being comfortable with what you have.
It's wanting what others have (envy) that causes a lot of the issues around today.
Is the elderly tenant a relative or just some very lucky recipient of your generosity?
Giving back is a great pleasure.