Who's Made it? - Share your Story for Inspiration!
- Thread starter Rixter
- Start date
thefirstbruce said:
thefirstbruce, The condition of posting was pretty well spelt out in black & white. It was fairly simple request that some how you've overlooked! Why did you? - maybe you can refrain from an unnecessary and inane post in the first instance.
From your litigation fixation it appears its something you maybe having or have had some unpleasant experience with - if thats the case for some strange reason I cant see why
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Trogdor said:
Define "recovered debt prematurely" Trog....specifically in relation to prematurely..
is it the date of the initial administration order, or from when the Supreme Court rules in favour of the creditor who brought the original wind up notice, or a subsequential order brougt up by ASIC itself, or another secured creditor.
The law is obfuscated for the purpose of requiring more interpretation.
hi all
To get back on track to the post and I won't put to many figures in this post as I don't think its needed.
1.100k and attained 2.5 years ago.
2.I don't generate income as I put it back into my sites and investments to fuel my investments.
3. 3 years.
4. I develop and hold in all the developments that I do, and if the other members want to sell out they do and I hold.
5. I am a full time investor.
6. no I have not made it yet as I have my own goal, that has not been achieved I am 83% to achieving goal
my current gross equity is 0 my company/trusts is in excess of 8 mil.
To get back on track to the post and I won't put to many figures in this post as I don't think its needed.
1.100k and attained 2.5 years ago.
2.I don't generate income as I put it back into my sites and investments to fuel my investments.
3. 3 years.
4. I develop and hold in all the developments that I do, and if the other members want to sell out they do and I hold.
5. I am a full time investor.
6. no I have not made it yet as I have my own goal, that has not been achieved I am 83% to achieving goal
my current gross equity is 0 my company/trusts is in excess of 8 mil.
Hiya,
For what it's worth... I have a suspicion that Bruce may have been alluding that publicly declaring one's assets and income may not be wise when one is at risk of litigation. As investors, that risk is part and parcel of what we (you) do.
Bruce; if you are personally involved in such an instance, I wish you all the best in seeing justice through.
Cheers
James.
For what it's worth... I have a suspicion that Bruce may have been alluding that publicly declaring one's assets and income may not be wise when one is at risk of litigation. As investors, that risk is part and parcel of what we (you) do.
Bruce; if you are personally involved in such an instance, I wish you all the best in seeing justice through.
Cheers
James.
simple answer is yes
I could pull down the shutter today sell down to make all posis and walk away and live on a beach somewhere only trouble is my youngest is 11 so hence the 5 year time line, may go to 7 depending if she wants to stay on at school.
My structure and system is a multiplier and all though I am penniless my companies and trusts are not but it has been setup that way.
Not knowing bruce situation I won't comment on anything posted as it not my place to do so but my structure has been set up so it is bullet proof to attack from external forces and also internal, hence I have blood trust,unit trusts discretionary trusts and unit trusts.
I have setup a secondary structure for my just turn 18 eldest son to go into shares and kicked it off with 10k in dyno noble share listing, the offer closes today and he wants to get into that, so kicked him off with a share listing and company and trust with me in it with him,
he Knows my structure and will I think mirror it for him and he will be full time investor alot quicker then me, he's going to macquarie here in sydney doing ba in business/accountancy, within 3 month will have his first 460k value (not cost) posi 2br property here in syndey already organised stand aloan to his structure.
For me the next 5 years will see me multiply my projects and structure and organise to mirror my system for my four children.
and assist them to be in a good position for the future what ever that brings.
you are correct I don't see myself as stopping if I am in that group,
It will be a case as technology moves ahead I will follow and my structure does not rely on theres and theres won't rely on mine.
I do explain to them what I do and how I do things, but don't pressure them to follow my lead, its up to them to decide what they want to do.
I keep most of the finer money point off bulliten boards hence I don't wish to answer those question but any question you may have fire away.
Lot of people have been asking will I or have I thought about writing a book first what would you call it and second maybe when I get around to having the time.
maybe some of you naming people could come up with a name.
oh and I won't be doing the grammer.
I could pull down the shutter today sell down to make all posis and walk away and live on a beach somewhere only trouble is my youngest is 11 so hence the 5 year time line, may go to 7 depending if she wants to stay on at school.
My structure and system is a multiplier and all though I am penniless my companies and trusts are not but it has been setup that way.
Not knowing bruce situation I won't comment on anything posted as it not my place to do so but my structure has been set up so it is bullet proof to attack from external forces and also internal, hence I have blood trust,unit trusts discretionary trusts and unit trusts.
I have setup a secondary structure for my just turn 18 eldest son to go into shares and kicked it off with 10k in dyno noble share listing, the offer closes today and he wants to get into that, so kicked him off with a share listing and company and trust with me in it with him,
he Knows my structure and will I think mirror it for him and he will be full time investor alot quicker then me, he's going to macquarie here in sydney doing ba in business/accountancy, within 3 month will have his first 460k value (not cost) posi 2br property here in syndey already organised stand aloan to his structure.
For me the next 5 years will see me multiply my projects and structure and organise to mirror my system for my four children.
and assist them to be in a good position for the future what ever that brings.
you are correct I don't see myself as stopping if I am in that group,
It will be a case as technology moves ahead I will follow and my structure does not rely on theres and theres won't rely on mine.
I do explain to them what I do and how I do things, but don't pressure them to follow my lead, its up to them to decide what they want to do.
I keep most of the finer money point off bulliten boards hence I don't wish to answer those question but any question you may have fire away.
Lot of people have been asking will I or have I thought about writing a book first what would you call it and second maybe when I get around to having the time.
maybe some of you naming people could come up with a name.
oh and I won't be doing the grammer.
haven't made it yet but having fun getting there
1/ How much annual net passive income do you need to attain it?
I need to have at least the income I'm generating now which is roughly $300K per annum, give or take a bit depending on my performance.
2/ What date or year have you set yourself for achieving it ?
I'm planning on doing a RK and "exiting" in 2012 at age 47. I'm 40 now.
3/ How much net passive income do you currently create annually?
-$4,000 per annum. I'm highly -ve geared on residential property. Have about $2m in property assets at 50% LVR and approaching $200K in unencumbered equity portfolio.
4/ What property investment strategy/s do you currently utilise now and are you planning on adding any new ones after you attain independence?
Since 1998 have been using the good old buy and hold strategy. I don't see this changing in the foreseeable future. In fact, I am currently scouting around for property up to $2m in Sydney's eastern suburbs. By 2007 I may well be out of equities and very heavily leveraged into property. After I gain "independence" I will continue to passively invest in property and equities, changing the mix according to the "seasons"
1/ How much annual net passive income do you need to attain it?
I need to have at least the income I'm generating now which is roughly $300K per annum, give or take a bit depending on my performance.
2/ What date or year have you set yourself for achieving it ?
I'm planning on doing a RK and "exiting" in 2012 at age 47. I'm 40 now.
3/ How much net passive income do you currently create annually?
-$4,000 per annum. I'm highly -ve geared on residential property. Have about $2m in property assets at 50% LVR and approaching $200K in unencumbered equity portfolio.
4/ What property investment strategy/s do you currently utilise now and are you planning on adding any new ones after you attain independence?
Since 1998 have been using the good old buy and hold strategy. I don't see this changing in the foreseeable future. In fact, I am currently scouting around for property up to $2m in Sydney's eastern suburbs. By 2007 I may well be out of equities and very heavily leveraged into property.
After I gain "independence" I will continue to passively invest in property and equities, changing the mix according to the "seasons"Oscar said:
Hi, Oscar,
That's an interesting jump. You're planning on doubling your portfolio with one deal? I'm assuming your $2m portfolio is made up of multiple IPs. Why have you decided to jump to bigger deals? Do you feel that Sydney has bottomed? I'm also very interested in Western Sydney (Parra to Blacktown) but I'm only researching single houses around the $200 - $300k level.
Alex
Alex, my current IP base is made up of 4 properties, 3 of which are in Eastern suburbs of Sydney - it's the area I know best and will stick with it for long term capital gains. I don't care too much for +ve cash flow right now given my salary can take a bit of a loss. I've been out the property purchasing game for over 3 years and I feel that 2007 will be a good year to start purchasing again. I just use my gut feel and educated guesses, definitely no fancy micro/macro economic analysis for this puppy, so don't ask me to justify this. I've been putting cash aside and can afford to significantly increase my stake and am looking for a duplex building near the water or 3 to 4 good apartments in the area (Clovelly, Tamarama, Bronte). I have a very good disposable income and need to put it to work, so next deal will be big. Can't wait to post about in the future.
goddesk,
I don't do anything particularly special. I'm a well remunerated manufacturing executive in charge of a facility in China. I work extremely long hours with a considerable amount of pressure to perform to earn my keep. But that's probably the same for most working in large multi national organisations. In addition to the income I mentioned I have a large base of stock options and restricted stock units, which, in good time and allowing for strong performance of the company, could make me wealthy in their own right. Then again, they could also be worth nothing! What does all this mean? I have been conservative up to now and feel that soon it may be time to extend my LVR for property closer to 75-80%.
The 2m deal I wrote of above, would get me closer to 75% LVR and push me to the limits of serviceability. I would be much more comfortable with a deal of 1 - 1.5m, but there I go again talking about being comfortable.
I share this information because I get inspired when I hear other's stories in a little more detail. Most investors earning much less than me are doing much much better - I have much to learn.
I don't do anything particularly special. I'm a well remunerated manufacturing executive in charge of a facility in China. I work extremely long hours with a considerable amount of pressure to perform to earn my keep. But that's probably the same for most working in large multi national organisations. In addition to the income I mentioned I have a large base of stock options and restricted stock units, which, in good time and allowing for strong performance of the company, could make me wealthy in their own right. Then again, they could also be worth nothing! What does all this mean? I have been conservative up to now and feel that soon it may be time to extend my LVR for property closer to 75-80%.
The 2m deal I wrote of above, would get me closer to 75% LVR and push me to the limits of serviceability. I would be much more comfortable with a deal of 1 - 1.5m, but there I go again talking about being comfortable.
I share this information because I get inspired when I hear other's stories in a little more detail. Most investors earning much less than me are doing much much better - I have much to learn.
Oscar said:
Oscar, maybe you could give us your opinion about the future of domestic Chinese growth, and their demand for Aus resources. You must have your finger on the pulse up there being in manufacturing.
