Questions for all.

[Marcus]

A few questions for you all.

1. What inspired you to start investing?

2. Why Property?

3. What is your long term goal?

Regards,
Marcus.

[Marc]

Hi all,

1. What inspired you to start investing?

James Bond! Throughout my life I have watched James Bond movies and always loved the amazing locations. I thought to myself wouldn't it be cool to go to those places and hang out.

2. Why Property?

Rich Dad Poor Dad and a relative who got into property investing. Plus I like physically seeing my assets and property is more tangible than shares for me. I also seem to understand property more than shares.

3. What is your long term goal?

6 months in the South of France and the other 6 months in Piahia!

Best Regards

Marc

[inzvestor]

my views / reasons

1. To create a future that I could control + increase time freedom

2. Property is just one investment vehicle - it is the most stable - but not the greatest return (% wise)

3. To be financially secure and still have the time to do whatever I want whenever I want + I would also like to help people get out of debt and stay out of debt.

Money is not the root of all evil - ignorance is !!

[RentMaster]

1. What inspired you to start investing?
a. I had some spare cash. Had to do something useful with it.

2. Why Property?
a. Because my brother had recently purchased one, and it looked like a good idea. Went into it completely blind, but luckily mad a not-too-bad first purchase.

3. What is your long term goal?
a. Freedom to choose to work or not.

[tamara]

1. What inspired you to start investing?

In the first instance it was a very unresearched way to own a house in a place i might live in. luckily i just fell on my feet and it was a worthwhile purchase.

Secondly my husband got a job in a tax free environment and we realised that it would be very easy to waste money and i started to investigate the general idea of investing. My husband then got to read and we formulated a plan which focuses initially on property.

2. Why property?

with the combined experience of property and the stockmarket we decided we could invest more prudently in property than stocks.

3. Our long term goal?

The freedom to live life in a manner that we have chosen. This includes the freedom of time.

[cube]

1. Some friends we met through the Pre-schoolers circuit, who have been doing it for 10 years.

2. Because, after investigating, it all seemed to make sense.

3. "Retire Young. Retire Rich"!! - More explicitly: To be wealthy in terms of "How long can you maintain your current lifestyle if you lose you job tomorrow?"

[Sooshie]

Hi there,

Great thread!

1: The accountant telling us we should be happy paying X amount of tax, even though we were struggling and going backwards on our mortgage. :twisted:
I kept this accountant as a friend, but not for business.

2: I was attracted initially to the negative gearing hype because I wanted to minimise tax. (I should point out, that I don't mind paying tax, but not at a rate where we are funding the government's lavish lifestyle, when we can't even make ends meet on a good wage - that made me very angry) So property seemed something that I understood instinctively. I could look at a house and recognize potential. I could see land and imagine buildings on it... Property always seemed to be 'safe as houses' and I wanted to be secure.

3: My long term goal is to create a nestegg for my family, so they never have to go without or have to worry about finance. As my children have different needs, I need to be certain that we can always find money for the extra services they require. I would also like to do charity work and fundraising (on a big scale) at some stage. I don't feel I have the time to do this yet, but there will come a time, where money will not be an issue and I can devote myself to helping others and making a difference to people's lives in a good way.

Cheers
Soosh

[LeanneS]

>1. Some friends we met through the Pre-schoolers circuit, who have been doing it for 10 years.
You did start early!

1. Browsing in a bookstore and stumbled across Building Wealth Through Residential Real Estate (Dolf De Roos & Jan Somers), a year or so later my best friend in NZ was reading RDPD, which I also read. The book Motley Fool UK Investment Guide really got me started - that is a light-hearted but informative book about how to do alright for yourself without getting shafted by financial professionals, so for the average Joe more than the serious investor.

2. Why property?
* Highest leverage and "safe as houses"
* Can buy below market value
* Can add control the value (ie by renovating)
* Lasts forever
* Is fun like dollshouses only bigger and for grownups

3. My long term goal is a stable passive income spread over several countries which allows my partner and I to live a tax-efficient, time-rich global lifestyle.

My only problem is I don't know what I'd do with all that time because I really like buying property. I am currently looking for other forms of income to support my property habit. Also looking for more ways to make my life tax deductible (esp travel).

Excellent idea for a thread.

Leanne

[wada]

1. What inspired you to start investing?

This may sound nasty but my parents. I love them to death but they have struggled finacially for as long as I can remember. Now they are nearing the 50 yr bracket, life doesn't seem to be getting any easier for them.

I knew when I first started in the workforce that there must be an easier way to earn money (legally that is!!!).

2. Why property?

For us property is easier to understand compared to shares. My wife and I also like the fact we can physically see our investment and have control on how it's run. We have shares but only through managed funds.

We only got into property when I got a work transfer from Auckland and decided to rent our house. It was a steep learning curve and we've learnt alot since then (5 yrs ago).

3. Long term goal?

Our goal is to earn enough passive income that matches my salary. I love my job and don't plan to leave until my 50's (I can hear your gasps from here!!!), therefore my salary will go on fun stuff and other investments (but I'm hoping mostly fun stuff!!!). Once this is achieved the boss will stop her 'paid' work and continue with her charity work.

Also, to have the means to provide financial help for our family if needed.

Wada

[Marc]

Hello!

I love my job and don't plan to leave until my 50's (I can hear your gasps from here!!!

yep I gasped wada!

Best Regards

Marc

[Marcus]

Awesome replies!
It is great to see so many positive, like minded people, contributing to this site. We all share information and/or opinions at risk of being challenged (or worse) on a daily basis (for some). I take my hat off to you all as I know none of us have to contribute, we all choose to. Whether it be to further our own knowledge or purely just to help others that need a little something. Well done to you all, and well done to those that make it possible (Marc, Moderators...)

1. What inspired you to start investing?

First off, I guess I have always had a desire to have nice things like Bikes, cars (still waiting), clothes etc as a kid. Always wanted to travel too (still waiting).
I was working as an electrcal contractor fresh out of my apprenticeship a few years back. 7 days a week, leaving home at 5am getting home between 6 and 7pm. Working weekdays for a firm (Newpower electrical) @ $11.00/hr x 40hrs and working weekends for myself @ $36.00/hr x 20hrs(was all I could get). Newpower had a Merit allowance system (what I called "long tounge, brown nose allowance") that was reviewed every 3mths and ones pay could go up 50 cents/hr if you worked 7 days/wk. So as you could imagine, I never got close to getting it!

After my second review I was told that they were not happy with my "attitude" and my constant refusals to work weekends. I was sent on a attitude awarness course (course designed to make you appreciate being a worker drone).

First up the speaker asked us all to write down a dream of what we would like to be doing in 10yrs time (I was thinking, as bloody well far away from here as damn possible!)

The next step was to write down a list of what actions/steps we would need to take, to make this dream possible.
God knows why, but she chose me out of the whole damn group to read what I had written.

My dream was: "I'm laying on a beach in Spain sunbathing next to a hot chick (sorry ladies I was early 20's and full of testosterone) sipping cocktails and having enough money that I never have to work again".
Well there were a few giggles and mumbles around the room and the odd yeah right comment. It seemed pretty damn obvious to most that I had taken the term DREAM litterally. I knew this much. I sure as hell did'nt want to be doing what I was doing at that time, for the rest of my life!

The speaker tried to reasure me and asked me to continue on and read my list of actions/steps to achieve this dream.

There were only three words on my list, and they were "Quit my Job".

My bosses that were present were shocked. Not exactly the best way to start a brainwashing seminar that was supposed to help me (and others) fall into line.

The following Monday, I was told to stay in town and go speak with the area manager to explain myself. I explained why I said what I said (I was going to make $23,000.00 for the year breaking my butt for them). I was offered a 50cent/hr pay rise which I respectfully declined and told him that I would be finishing on the Friday... for good!


2. Why Property?

(I'll keep this one shorter.... Promise)
Read DDR's & JS's book Building Wealth soon after all this happened. What more can I say other than they made sense. All reasons have been touched on by the bright bunch of people before me(thanks guys and girls ). If I had to pick my fav. reason I would have to say Control over investment(timing on sale or purchase, purchase price, structure, management, value, location, finance structure...) .


3. What is your long term goal?

Live a long, healthy, happy life. Share lots of positive experiences with my new family. Help others to help themselves.

Kind regards,
Marcus.



...oh who am I trying to kid?!
A canary yellow 300KW HSV Monaro (kitted with all the trimings) that has black tints, 20in rims and a licence plate that reads KKDASS (or sumthin similar) would be icing on the cake too I suppose.

[wada]

...oh who am I trying to kid?!
A canary yellow 300KW HSV Monaro (kitted with all the trimings) that has black tints, 20in rims and a licence plate that reads KKDASS (or sumthin similar) would be icing on the cake too I suppose.

I wanted to say something cool like that too !!! Mine's a 1200cc Ducati racing street bike, black and sleek... don't tell the the wife or she will kill me before this bike does

Wada

[Scarface]

1. What inspired you to start investing?
A workmate started a different course and said he couldn't see himself working all his life in front of a computer

2. Why property?
Never could afford a home back in the islands and had always wanted on for some odd reason made me feel more secure.

3. Long term goal?
See to it that my kids can make it even better than me.

[wildwest]

1. What inspired you to start investing?

A seminar on tax savings started the ball rolling. I finally was also in the position to be able to consider investment, as one failed marriage, a new hubby, and joint income that made investing an option.

2. Why Property?

I'm confortable with property, and don't know much abaout other investment options, although I am curently learning about savings and investments so I can diversify my fabulously huge portfoilio of 1 rental.

3. What is your long term goal?

Comfortable retirement.
AND THE MONARO

[Gatekeeper]

A few questions for you all.

1. What inspired you to start investing?

2. Why Property?

3. What is your long term goal?

Regards,
Marcus.

I don't know what inspired me into PI, but I wanted some freedom and to travel, and school and I didn't get on. I was probably about 14 years old when I knew that was the way I wanted to go. No-one in my family had rentals (although my mum got into it later). I just knew from working it on paper that it was a money spinner. Its weird how you see all these formulas in books now, these figures went on in my head as a kid, I thought everybody did it!!


I left school at 15 and saved enough for a deposit, and at 19 I'd bought my first rental, an old villa in two flats in Petone (early 80's).

Never had more than a couple of PI at a time, but it left me young and at 24yrs free to travel the world, while my rentals back home paid themselves off. I usually left with no money in my pocket, and just worked my way around, & saved enough to go off on adventures, usually based in London where I met my partner.
In late 89 my partner and I bought a VW and drove London to Egypt and back around the Med through Jordan, Syria and Turkey over six months. Later did all sorts of stuff, including working for TopDeck doing European tours, and my partner ended up driving overlands London to Kathmandu. So I've kinda had my travel/ freedom goals met through property investment.

When I arrived back, sold and bought some PI's and got back into my career (accounting, it just fit my maths brain), and now I spent the last 10 years having a family. I'm 42, I haven't worked for years, and my partner stopped work at the beginning on this year when he turned 40 (he had PI's while we were overseas too, clever boy).

Now I have no debt, our new goal is downsizing our lives and getting rid of the "stuff" that keeps you tied to the PTB, keeping it simple and spending more time with our kids 5 and 9 yrs, oh, and building one more rental to keep us comfie.

It might seem all lovely and easy, but I've worked my guts out renovating over the years and dealing with stupid tenants (some of them were lovely of course).
Its certainly not passive income at times.

Cheers.