Getting creative with the rules of finance

The big 4 banks would have you believe that they are the one stop shop for all your lending needs. They’ll tell you that they are “reputable” and other lenders are not (they won’t say it out loud but they will imply it)Truth is that there are heaps of lenders out there. Second, third tier lenders and even private lenders could be used to get you into the deal you want. It all comes down to deciding what is going to work best in the …

Roman warnings about your profit expectations

  When you start a business there are a lot of expenses. If you have offices or a shopfront there will be a fitout. There’s stock to buy, maybe staff to pay and legal and insurances which you need to get in place before you can even open the doors. All of that adds up to a big outlay up front before you’ve even made a single brass razoo. People generally know this and it’s not uncommon to factor into a business plan that the …

Where people lose focus

  I wanted to share something that I believe holds a lot of people back from achieving more. It’s to do with where you focus… And one thing you may be forgetting to focus on. Your first instinct might be to say “Nah-James that doesn’t happen for me”, but you’d be surprised how often I see this one thing come up fro people in all kinds of subtle and covertly unconscious ways. Happens to me all the time. It’s this: The feeling that because someone …

How long can you sit around doing not much?

When I moved up to Byron Bay many years ago I wasn’t actually moving here. I’d bought a property that was a bit of a fixer-upper and I just came up here to renovate the place. I just never left. I did renovate the place – but I also fell in love with Byron Bay and decided to stay. At the time I’d already created enough passive income to live on so there were no worries there, but I didn’t have any specific purpose for …

Who’s the boss here anyway?!?

I remember back in the dark ages when I was a youth and got my first job. I remember the feeling of being at the mercy of the boss… Like, in a way, I lived and died at his whim… He could sack me any time and I would be without a job and have no money… In reality it probably wasn’t all that serious, but I know I didn’t like the feeling of having someone else in charge of whether I had money or …

The Magic Of Thinking Big And Taking Your Time

  There’s a book I read years ago called “The magic of thinking big.” After all this time I don’t recall the details, but the gist was that when you think big, it forces you to think different questions, take different actions and ultimately… get bigger results. Even if you don’t get the exact BIG results you were shooting for you’ll still get bigger results than if you think small, ask smaller questions and take smaller actions. I’m telling you this because this morning I …

The Goose That Laid The Golden Egg

Some years ago I purchased a shop with an apartment upstairs in Bondi. Over that time it’s produced awesome cash flow for me. A few years ago, with zoning and planning changes in the area, I was able to build up and adding two apartments above which added to the cash flow considerably. The original leases, of course, had built in rental increases, which, subsequently increased the value of the property over time. But when you start adding on apartments, you not only increase the …

The difference between a goal and a true life-catalyst

  So every morning I get up early to go for a surf. I like the quiet time. In the same way that fishing for some people is more about the sitting quiet and waiting for the fish… …Surfing is as much sitting and waiting for the right set to come in as it is actually getting up on a wave. It’s time to think. It’s time to contemplate. In a way, it’s time to remember who you are outside of all the things you …

The Time Factor in Commercial Contracts that Help You Make Money

  Use your time wisely I took a call from an old friend last night. She was asking me for some advice about a property that she wanted to buy. It was a small, old run-down house (I know right! The cheek of calling me and asking me about residential) that was going to auction at the end of the week. Small… old… ugly… with bonus asbestos. Not ideal – but it was cheap, so it had that going for it. She told me about …

Testing Your Resolve: Dealing With Commercial Agents

Estate agents are a different breed… I know, I used to be one. (I’ve still got my licence – but I don’t use it.) This is especially true of commercial agents. You’d think that if you were selling a property for someone… and of course trying to sell it TO someone, you’d make every effort to service enquiries that come in about properties you have in your books. After all when you sell a property as an agent – you make money. That’s how it …