Your Education Never stops.

Kia Ora,

Well for the last few weeks have being continuing my own financial education & the following points jumped out during the training.

First you have to decide where you want to be. Secure, Comfortable or Rich!

Then it is how you are going to reach the chosen level & the plans will alter for each level.

For example to reach the secure level, where an investment covers all your outgoings (or you are out of the rat race) your plan might be to purchase cash flow positive properties.

Then for the next level you might want to build your business & for the final level you might look at using paper/commodities or paper in the form of an IPO (Initial Public Offering- initial shares when a company goes public).

So different plans for different asset classes.

During this time I also attended an investment property seminar. One of the strategies involved buying properties without any money.

Now that one people always talk about & how risky it is, but all it needs is a mindset change. When you look at the current economic situation, it is not if someone will accept them, but how many.

Just yesterday in the paper there was an advert for a property to buy (not in the real estate section) for around $275, 000 with a valuation of around $795,000.

Part of the strategy mentioned above involved the first offer being half of the value of the property, which people tell me no one will accept, yet here is one on offer.

They are always out there, but having the knowledge & confidence of how to take advantage off them is what is needed.

It might be that all you need is the lawyers costs to ensure you can tie this deal up is all that is holding you back.

It is also being able to spot the opportunity. This one was in the financial pages.

Other areas to look for opportunities are the public notices & some even look in the death notices or hear about couples getting a divorce.

It is what you feel comfortable with.