As long as we breathe we will be planning for our tomorrow… knowingly or otherwise! There is no escaping the truth that tomorrow’s harvest will be a by-product of the seeds we plant today.
Once we understand this we can do one of two things; something or nothing! It’s sort of like gardening, regardless of what we do or don’t do, stuff grows! The issue is… will the right stuff grow?
- Weeds by default… flowers through effort
- Loneliness by default… happy relationships through effort
- Poverty by default… financial prosperity through effort
- Failure by default… success through effort
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Robert Kiyosaki in his book ‘The Cashflow Quadrant’ says a Business Owner has developed systems that ensure revenue is not limited to the owner’s personal exertion. Where such systems have not been established, an owner is generally tied to the business. A more accurate title for these people is ‘Self Employed’… not business owner. A plumber working for himself is not that different to the plumber who works for someone else. He must get up each morning and put in a day’s work to receive a day’s pay. Begin now to see Property Investing As A Home Based Business, rather than an adjunct to your job or a second job.
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As I write, it is Tuesday 15th September 2009; “The First Anniversary Of The Collapse Of The US Investment Bank Lehman Brothers“. Lehman Brothers became the first significant high profiled casualty of the recent global financial crisis.
An article I wrote back on 17th December 2004 that I recently came across among my “friday afternoon @ mrd” archives, is worth revisiting; especially given the global events that have transpired since I wrote it.
Those who know me or have been following my writings over the past seven years, will concur when I say that I have a strong property bias (i.e. median priced, residential property in areas of increasing demand where supply is limited; etc). Over the years I have been challenged and at time criticised for having such a “narrow” investment strategy. Seven years on, however, I would argue that my strategy is not so much narrow as it is prudent and predictable.
None of the events on either the Australian or global stages over the past two difficult years have altered my strongly held view that the mrd set ‘n’ forget… for busy people™ strategy for wealth creation is the very best option when it comes to creating long term sustainable wealth… safely and responsibly!
Back in July Alan Kohlar reported during his segment on ABC news that “residential real estate has outperformed the stock market over the past 30 years”. Given that takes in all residential real estate, those of us that have purchased well researched “narrowly selected” property have plenty of reasons to feel pretty good right now.
Please take a moment to read “A Rising Tide Lifts All Ships”; written back in December 2004.
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A client recently commented that he would prefer to look at a standalone house and land package or a duplex situation, mainly due to the “Body Corporate Fees” etc, that (he thought) would hold him back.
This inspired me to give some of my thoughts on body corporate fees.
We always have house and land packages listed but as you would appreciate the actual blocks and plans change continually so we don’t bother showing the exact properties for sale on our website at all times. For those who will consider only house and land we can certainly assist.
I have houses, units and townhouses in my own portfolio and as such obviously do not find body corporate fees as something to shy away from. NB: Some small complex listings have very low body corporate fees of around $35 a week; let me tell you what the advantages are.
With my houses I have to pay building insurance of about $500 a year; building insurance cover is covered by the body corporate fees with units and townhouses.
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I’d like to invite you to a very special live Information Evening in Adelaide with Martin Bell on Thursday 8th October.
At this event, Martin is going to reveal the unvarnished truth about today’s real estate markets, his thoughts about the future direction of property prices and most importantly, how ANYBODY can safely and steadily use real estate to retire.
But first, some background…
So many everyday Aussies have hung in hope of a recovery as the rug has been pulled out from under them in the current financial meltdown.
And the situation seems to be getting worse: In the budget, the Treasurer announced the national retirement age was set to rise from 65 to 67 – meaning you may need to work longer to fund your retirement.
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In last week’s article titled “Kenny Rogers, The Gambler And The Property Clock”; under the sub heading “How To Leverage Off The Property Cycle” it read:
“Contrary to popular thinking we do believe that the answer is in speculating or trading in property”
This should have read…
“Contrary to popular thinking we do NOT believe that the answer is in speculating or trading in property”.
Omitting that one word “not” completely changed the meaning of the point we were making. We apologise for this error.
To read the corrected article >>>click here
Oh Dear ! Some laboratory in California is growing medical marijuana
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California vintners in the Napa Valley area, which primarily produce Pinot Blanc, Pinot Noir and Pinot Grigio wines, have developed a new hybrid grape that acts as an anti-diuretic.
It is expected to reduce the number of trips older people have to make
to the bathroom during the night.
The new wine will be marketed as…
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There’s a lot of talk in the property industry about the “Property Cycle” and or “Property Clock” and reading or interpreting it for the purpose of knowing when to buy, when to sell, when to hold and when to do something else altogether.
Like Kenny Roger’s song ‘The Gambler’, some people use the property clock so they…
- Know when to hold ‘em,
- Know when to fold ‘em
- Know when to walk away,
- And know when to run!
Property is not really like a game of poker. Speculation and risk is a game some people like to play but we much prefer Nick’s “set ‘n’ forget… for busy people“TM approach.
While the Property Cycle assists us in our understanding of the property market’s position, we certainly don’t use and follow it as our guide as to when to buy and when to sell! A lot of the peaks and slumps of the cycle are exasperated by the ‘herd mentality’.
We like to take the monopoly approach; buy, buy, buy and never sell.
BUT… there is a place for watching the ‘clock’!
So let me first look at the cycle and then I will explain how it can be used to our advantage.
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You have to give it to them… it doesn’t matter what is going on in the economy the media always seems able to spin a negative story from it!
Last year they were wrong when they continually reported on Australian house prices plummeting by 40%. Sure they were quoting others but isn’t it interesting how they gave the airplay to and focussed on those with the most negative and most sensational story to tell.
Rather than now reporting:
“We got it horribly wrong and we apologise for our irresponsible journalism that caused you angst, fear, panic and concern”… or
“We are so sorry that you may have sold your homes and investment properties because we incorrectly told you they would soon be worth 40% less”… or
“We are sorry that we contributed to your state of paralysis that resulted in you allowing great buying opportunities to pass you by”
NO; can you believe their dribble; what is it that they now saying?
“Things are going so well get ready for interest rates to rise”
I guess their agenda is crystal clear…
As long as people are stupid enough to believe what we tell them, we will continually fill their heads with fear, worry, anxiety, panic etc
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