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Xmas '06 challenge.

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  • #31
    I think I will step in here, I have some thoughts to add, with getting rich quick, it depends on how you define quick I suppose.

    But one thing you REALLY NEED to get rich or successful quickly is a burning desire to get there, a real good reason to want it and more often than not it is not for your own benefit, I know in my case it certainly wasn't or certainly isnt now anyway, the first year I really set out on my mission it was to proove to my husband that this property investing stuff really did work. So I guess that was for my benefit but a couple of years down the track the reason became so I could help other people and this is what drives me now.

    But now, it was just interesting I was thinking of a conversation my husband and I were having just last night after we had gone out for dinner, we were discussing which charitable organisations we were going to donate houses to. Now that lifts it to a whole new level, we are still thinking on this at present but in a year or so I would say we will be taking some action on this. We want to assess the need first and put them where they are most needed (in our own opinions as it is our money) And it may not be just houses. We were discussing all sorts of options with what we could do for others.

    It gets me excited thinking of what i can do for others, just going to seminars and property meetings and sharing is uplifting to me too as it is all part of giving to me, I have been speaking quite a bit lately infact have had to turn down a number of invitations as I am already committed but that is exciting too, I look forward to being able to speak for the ones I couldnt make it to in the future. One thing I have really learned is that when you are doing things for the good of others and not focusing on the money (or lack of it as most do) it just flows in as the opportunities just come your way. It is just a matter of plucking the fruit from the trees in your back yard.

    And on another post I was reading how people spend so much on seminars and just do nothing, I feel it is not the seminar to blame but the persons lack of the burning desire, we have to be strong enough to stand up to all the negativity we meet when we get back home as we all get it, i know I certainly did but I had absolutely made up my mind to make a go of things so NOTHING OR NO BODY was going to stop me when i got back, I was on fire, If you dont light that fire in your own mind you wont do it, you need to get a peer group who will help hold you accountable. and set clear goals for yourselves on what you want to acheive.

    Happy Investing,
    Robyn

    Comment


    • #32
      Well said Robyn,

      I like that BURNING DESIRE, not only to get rich but to learn and grow. Also like your own evolution into charitable donation.
      This is a point that Kiyosaki makes, and I believe is ingrained in the culture in the US. While there is less state aid for the less fortunate, those who are wealthy feel compelled to donate to chosen causes to create a better world.
      Fantastic

      Tim

      Comment


      • #33
        So partakers of the Xmas day challenge so far are

        Pooomba 500K equity increase

        Ivi Double portfolio

        Ivanhoe goal unspecified

        Cliffy 500K equity increase

        Any other takers?? Have I missed anyone??

        We'll all post first of each month here with an update OK?

        Comment


        • #34
          Hey dont forget me...

          Lets say double portfolio,
          cheers
          Tim

          Comment


          • #35
            So partakers of the Xmas day challenge so far are

            Pooomba 500K equity increase

            Ivi Double portfolio

            Ivanhoe goal unspecified

            Cliffy 500K equity increase

            Jumpin Double portfolio

            Any other takers?? Have I missed anyone??

            We'll all post first of each month here with an update OK?

            Comment


            • #36
              Christmas Day Challange

              My goal setting after meeting Dean and Robyn about a month ago, was to earn 50k cashflow before christmas. This was to prove to my self I can earn enough income from property to give up my day job. So yes please! count me in.

              Comment


              • #37
                So partakers of the Xmas day challenge so far are

                Pooomba 500K equity increase

                Ivi Double portfolio

                Ivanhoe goal unspecified

                Cliffy 500K equity increase

                Jumpin Double portfolio

                Sooty 50K cashflow

                Any other takers?? Have I missed anyone??

                We'll all post first of each month here with an update OK?

                Comment


                • #38
                  Let's make it 250k equity increase. TA
                  Don't argue with idiots, they'll drag you down to their level and beat you with experience.

                  Comment


                  • #39
                    Dean,

                    When we meet in March our goal for 2006 was to eliminate non tax deductible debt. In September we are no closer. I read a previous post of yours regarding setting big goals. In January we thought it was a big goal with 15 weeks to go it is now a big goal!

                    So our goal for Christmas 2006 is to have eliminated our non deductible debt. $100K required to achieve the goal.

                    Comment


                    • #40
                      Christmas Day Challenge

                      Hey Dean,

                      Glenn here $200k minimum equity increase
                      Last edited by GJB68; 09-09-2006, 01:42 AM.
                      "If you think education is expensive, try ignorance"

                      Comment


                      • #41
                        My goal

                        Complete first reno/do-up

                        Cheers
                        Spaceman

                        Comment


                        • #42
                          OK as at Septmeber 9th we have....

                          Pooomba 500K equity increase

                          Ivi Double portfolio

                          Ivanhoe 250K equity increase

                          Cliffy 500K equity increase

                          Jumpin Double portfolio

                          Sooty 50K cashflow

                          Tinbum 100K equity increase/debt reduction

                          GJB68 250K equity increase

                          Spaceman Complete first do-up AT A PROFIT


                          We'll all post first of each month here with an update OK?

                          Congratulations people, just putting these goals on paper as it were puts you ahead of 99% of teh investing world. We have something concrete to aim for. Lets encourage each other and achieve them!!
                          Dean

                          Comment


                          • #43
                            Hi Dean and everyone, I have one for myself, a few months ago i set a goal to pay a million off my loans by Christmas and I HAVE DONE IT ALREADY so that is fantastic, but I am having trouble getting a development underway have had a few false starts or non starts I should say so my goal is to be underway with my first development AND have the second one lined up in the pipeline, The reason we have decided to do these developments is 2 of our holiday homes are hugely negatively geared. one we paid $600k for 2 years ago and it is holiday let only, this brings in a bit of income, we like to use it ourselves so it is what John Burley called a lifestyle property, (that sounds better than negative gearing doesnt it? Makes it acceptable) and we have another one on lake Te Anau, paid $675 for that, the $600 one is on Waiheke Island, both probably cost us $4k a month each as we do get some income, but of course there is rates and insurance as well as the loan so we decided to do some developing as we dont want to sell them but it would be good to own them free and clear. The Te Anau one is rented long term but the tenants seem to move on every 6-8 months then we have a couple of months vacancy, still that is OK as that is when we can go down. Both are let furnished.

                            So my goal is to have a development underway and another in the pipe line, of course i am away alot so this is another challenge for me, still I wouldn't have it any other way.

                            will update 1st October.

                            Robyn

                            Comment


                            • #44
                              OK as at Septmeber 9th we have....

                              Pooomba 500K equity increase

                              Ivi Double portfolio

                              Ivanhoe 250K equity increase

                              Cliffy 500K equity increase

                              Jumpin Double portfolio

                              Sooty 50K cashflow

                              Tinbum 100K equity increase/debt reduction

                              GJB68 250K equity increase

                              Spaceman Complete first do-up AT A PROFIT.

                              NZGEMS to have 2 developments underway by Xmas


                              We'll all post first of each month here with an update OK?

                              Congratulations people, just putting these goals on paper as it were puts you ahead of 99% of teh investing world. We have something concrete to aim for. Lets encourage each other and achieve them!!

                              Comment


                              • #45
                                Ok I'm in. Not working to the Christmas deadline, but consider me part of it.

                                Generate $20k net profit from first property trade by 31 January 2007 (settlement date on sale).

                                Gerrard

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