Hollow Logs et al

I've been running around like crazy with one thing and another for a few months and I took the time out this morning for a couple of hours to see if I could find any investment 'hollow logs' etc. Family away for a couple of days giving me a few spare hours.....

Ok.......I managed to find some 'lazy dollars' which I think I should conservatively be able to convert into an additional income flow of $3432pa.

I made plans for the investment of another expected income source which should be able to generate another $2400pa in additional income.

I did a rent review on an investment property and decided to increase the rent by 15pw or $780pa.

Total annual income increase of $6612pa for a couple of hours work.

Now I haven't actually got onto a review of a couple of areas I think we could actually 'save' money yet.



Get my rather obvious point?

How often do we spend the majority of our time working on other people's business and wind up not taking best advantage of our own?

Do you have properties that have risen in value but you haven't 'harvested' the equity yet?

Do you have rents that should have been increased?

Do you have investments that could be getting better returns (within your own risk profile)?


Can you identify any 'hollow logs' of your own?

 

You make quite a salient point here Alan, in that we often don't pay enough attention to our own affairs, and can become blase at times, even complacent in not tracking our investments and financial situation.
I think it's necessary to have regular reviews and also to stay on top of the managers and other professionals who assist us in our journey to financial independence.
For my IP's I maintain a separate diary of all correspondence with PM's as well as when rent renewals are due etc. It saves me time going through other paperwork and helps me see at a glance what went on when and what's coming up that needs possible attention.

I'm in the midst of harvesting some equity as we speak, which I really ought to have done 6 mths ago. It's just the paperwork gets a little boring.....
Lucky I have a broker who loves filling in forms

 

Well done Alan. Getting your idle money to make more money is the key to wealth.

For those who have read George Clason's "The Richest Man in Babylon", you may recall that one of the five laws of gold was "Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field."

Cheers