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Equity and meeting the right full people!

Discussion in 'Investing Strategies' started by Triu, 4th Oct, 2006.

  1. Triu

    Triu Well-Known Member

    Joined:
    1st Sep, 2006
    Posts:
    161
    Location:
    WA
    Once i some decent equity built up, then you'll be in a much better position to work for yourself and still grow your asset base. - Question how do i work for myself and grow my asset base? can anyone advise!

    I suggest you get to know some people who invest full time - find out how they made the transition, learn what problems they had to overcome, and find out what activities made them successful. Can anyone full time investors please set me on the right path?

    thanks again for the help still learning!
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,619
    Location:
    Sydney, Australia
    I think you are getting a bit ahead of yourself ... start simple. Make sure you have your expenses under control, and save as much as you can to buy an investment property. That's always a good first step.

    Other things you need to think about are goals - why do you want to do this ? What is your motivation ? You don't need to tell us what your goals are ... just make sure you have them written down and stuck up on a wall. Work out what you want to be doing when you are financially independent, how much cashflow you will need to be able to achieve this, and the work backwards from there.
     
  3. Tom&Don

    Tom&Don Active Member

    Joined:
    16th Aug, 2005
    Posts:
    44
    Location:
    Melbourne
    Well, one way would be to do a reno-kings type of strategy.

    Just get out there, start small and let the snowball start rolling down the hill.
     
  4. Redwing

    Redwing Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    476
    Location:
    PERTH..WA
    Where are you at now Trui?

    I understand the concept of starting with the end in mind, but I also like Nike's "Just do It" approach sometimes ;)