Archive for May, 2007
Isn’t it? It shouldn’t be allowed. I mean really where do people get off actually making money out of something they love. And not just making money, we’re talking obscene amounts of money. You’d think people would understand that we all have to be fair. It’s not right for some to have more than someone else. What do these property investors think they’re up to by achieving financial freedom. How dare they put themselves in a position where they actually don’t have to go to work everyday. They should be giving that money away. There’s people starving in Africa you know?
You wait, they’ll get theirs. Any day now property will collapse and they’ll get their come-uppance. That’ll learn them to treat the rest of us the way they do, selfish arrogant little pieces of work, every one of them. Their day of reckoning is coming!!
“What on earth is Dean on about?” I hear you ask?
Well I’ve been doing some research on scarcity mentality and the above scripts are common themes amongst those infected with scarcity thinking. I have deliberately been a little over the top but if we were really really honest many of us think this way from time to time, don’t we?
Unable to celebrate another’s success, we secretly hope something will befall them. Not serious enough to destroy them, but bad enough to “put them in their place” Tall Poppy syndrome is rooted in this mentality and it infects probably 90% of you reading this.
So I share this with you in the hope that if you hear yourself thinking these things you can commit to doing some work on yourself to change your thinking. I was asked yet again today the “secret of my success”. Other than the obvious answer on my website HERE the answer is found in my understanding of the above. I refuse to think scarcity any more and the result is that I find abundance in my life, spiritually, emotionally and yes financially. Successful investing for you may require acknowledging that some of the above scripts operate in your life and taking some action to replace them with truth!!
So lets celebrate others successes today and tomorrow, just for a change.
From September 2006
Well it’s been quite a day. I got a phone call yesterday from a local agent whose office had been given a listing in another part of town. She rung me in case I was interested as no one in her office knew what it was really worth. It sounded like a deal to me so I wrote up an agreement. The property turned out ot be on 2 titles so we had to redo the paperwork to satisfy the vendors solicitor. By the time we did that there was another offer on the table. Because I thought the property was underlisted my offer was at asking, which was accepted at 4PM today.
NOTE FOR NEW INVESTORS:
Asking price $369,000. Valuation minimum $450,000. Rent $680 a week in Otahuhu.
You don’t have to screw people to get a bargain. But you do have to take MASSIVEACTION!!
Then this morning I see on Trademe 2 houses on one title in Botany way cheap. I rung the vendor at 8AM and he couldn’t see me till 6PM. We are viewing the properties when he gets yet another phone call from someone keen on the property, who comes to view it while we are there. We offer to buy them unconditionally on the spot but he wants to talk to his wife. At 8:45 PM he rings to say they will sell but want 5K more than asking. They offer to “sort it out tomorrow”. I offer 10K over asking if they let Raewyn and I come round and pay deposits and sign up immediately. They agree, so we rock round and buy 2 more houses!!
NOTE FOR NEW INVESTORS
Asking Price $560,000 Paid $570,000. Valuation as is around $650,000 Valuation after subdividing at cost of $45,000, $800,000.
You don’t have to screw people to get a bargain. But you do have to take MASSIVEACTION!!
So we bought 4 houses in one day. And only last week we decided we wouldn’t buy any more property for a while. But how do you say no to $160,000 in additional equity and pos cashflow after tax in Otahuhu and Botany.
The deals are there people. Are you gettin yours???
From today my written blogs and video blogs take separate paths for a while. I am running a video blog series on how to get healed and deal with the issues in our lives that cause us to fail at investing and life and cause us to make bad decisions or be controlled by fear etc.
This involves exploring ourselves as spiritual beings and as I know some of you may be uncomfortable with that I am going to continue with reloading and updating my previous blogs in written form, whilst the video component will be on an entirely different thread.
So I leave you to decide which you are happy looking at!!
From September 2006
We’re a funny lot us kiwi’s. We all love to make money but boy we hate parting with it. My wife and I have been preparing for our first ever workshop “Behind Closed Doors”. We’re now organising a follow up as the first one is sold out. But the funny thing has been people’s attitudes and reactions in some cases.
I have a motto of making my money out of property trading, not people, so we decided to just cover costs with the workshop fee, rather than make it a money making exercise. So we charged about a fifth or even a tenth of what the workshops real value is.
We have had people ask for discounts, people unhappy about having to pay etc. You name it we’ve been asked it. Now I don’t mind that in one sense, we’re all in for a bargain. But the level of requests amazed me. When you’re already practically getting something for nothing why do us kiwi’s still have to be unhappy?
So my encouragement to you today is learn to get over not investing in yourself. If you think $125, or $1000 or $5000 is too much for a whole day or 2 of fabulous information then you will never get the education you need.
I estimate my wife and I have spent maybe 30 or 40 grand on educationg ourselves in the last 2 years and that education has enabled us to purchase now over 9 million dollars worth of property and increase our net worth by close to 3 million now. And we’ve achieved that by investing in ourselves and then taking Massiveaction!!
I seriously encourage you all to do the same
Since posting this blog we have run one of the country’s largest 1 day events where we were fundraising for our charity work in Fiji so we did charge a lot more than Behind Closed Doors. And you know the funny thing was….. we had very few complaints or requests for discounts. We people are weird!!
And now as we prepare for our final major event again in Wellington and Christchurch we are finding people willing to invest in themselves and support our work with the poor. In fact we are deeply humbled by your support of us personally and Massive Action and we are excited to be able to put top quality information into so many willing hands and be able to bless another nation!!
God is good. Stay safe till tomorrow!!
PS Reminder that Wellington and Christchurch, but especially Wellington, is filling fast. Please book soon as we can’t find a bigger venue and we want to see you there!! BOOKING AND INFO HERE
4 weeks ago my mother had surgery to deal with breast cancer. She jokingly says that at her age it’s no big deal as no one would want to see her naked anyway. Today our neighbour said his wife was going in for the same surgery on Friday. She is a stunningly beautiful 36 year old with a new baby.
Her and her husband are devastated but he commented that there is absolutley nothing you can do about it except get through it.
As Raewyn swings into making meals and generally trying to support our neighbour mode, the situation prompts me to say to you……..
This or something similar could happen to you, tomorrow. If you knew you had 6 months left to live for example what decisions would you regret? What things would you have left undone/untried that would cause you eternal regret?
What people would you have not loved well?
What dreams will die for no good reason?
What countries will you never see, what businesses will never get started?
When you’ve finished answering these questions then ask yourself the biggest question of all.
Am I going to leave these things undone, undreamt and UNTRIED, or am I going to live my life like I only had tomorrow?
as Spock would say!!
Well I’ve been to Christchurch Wednesday night and Wellingotn Friday and all weekend. Completed my final lease options course for RM. Met some wonderful people and had a great time.
I love the look on people’s faces when you teach them something that just totally blows their minds. I hope and pray that they take the information and apply it.
Sorry for the brevity but I am exhausted for a week of teaching. I will be pulling out the video camera tomorrow night I promise!!
Hi all. Just returned form the mainland where I enjoyed a pleasant evening with a packed house at CPIA. I even got to strip in public!! Interestingly I had been warned they were a tough room yet I found them to be quite delightful.
In fact as I travel around speaking at PIA’s I am constantly humbled by the wonderful investors I meet who nobody has ever heard of. There are a great number of people quietly building their fortunes out of property and they deserve accolades for their courage and action taking they may never receive.
One young man I had coffee with this morning looked about 19 years old, probably in his early twenties, about to get married and “only” had seven rentals. I asked him how he got smart so young and he said: “Smart parents” Awesome!!
Don’t forget, if you want to enjoy some of the best education on trading and investing you will ever receive in this country your LAST CHANCE is June with me in Wgtn or CHCH. Book HERE
I suspect this may be my last event in New Zealand for some time, the nation of Fiji is calling me home!!
I attended an auction round the corner form my home this evening. The property was a really ugly duplex, deceased estate, in a good part of Half Moon Bay.
Done up it was worth around 420 to 450K. Current value around 350 to 370K. I was hoping to buy it at around 320K, which I knew was acceptable to the vendors.
Well 3 Asian bidders all wanted the property and it eventually sold for….
$422,000. No one could believe it!!
The lesson here? A property is worth what someone will pay for it. Remember that when you are looking for properties to buy. Never assume that properties change hands for what they are worth. For every property that sells way over the odds like this one did there will be one that you can buy way under the odds. The skill is in recognising them.
I got one of my favourite agents to buy a lifestyle block in Karaka 6 months ago because I knew it was a bargain. He rung me yesterday to thank me as the zoning had recently changed, which is why I told him to buy it, and his 1.4 million purchase 6 months ago was now worth just under 2 million.
Do whateever it takes to develop the skill of knowing how to find bargains. My “How to become a hunter” will give you some good ideas. This is how I find great deals.
See y’all tomorrow ~ Dean
There’s an interesting event in the Book of Kings where the prophet Elijah calls Elisha to follow him. In biblical times if a prophet called you to follow him that was a total lifelong commitment. Elisha knew he may never ever see his father again. So Elisha asks Elijah if he can go and say goodbye to his father first before they depart.
Elijah granted his wish so Elisha returned to his oxen, which was his sole means of livelihood, and the text explains that he slaughtered a yolk of oxen and boiled their flesh using the equipment that was attached to them, presumably a plough and their yolk. So think about this for a minute. You’re making a commitment to a new way of life. If you were “interested”, you’d get someone else to do the ploughing for you while you checked out the new offer, maybe trial it for a few weeks. We’d “keep our options open” until we were satisfied the risk of change was worth it. But Elisha was 100% committed. So he killed and burned his old means of survival because he knew what was being offered was better.
So for all of us who want a better life, greater financial freedom, more choices etc. are we going to be interested or committed?
I can only tell you that I decided if I was going to do property I was going to give it 100%. I’m now getting a 500% result because I have given it everything. If I failed it wouldn’t be because I didn’t give it my best. The results I get now blow me away but I have worked hard and consistently to achieve them.
Almost every day I have people ask to meet me or want to be mentored by me so that they can get similar results to me. Within ten minutes of meeting people I “know” whether they will ever really achieve or not. About 1 in 100 has that fire in their eyes, that determination that they really are willing to do what it takes to achieve their goals. I met a couple today who want to have more property so that they can give more money away. They have alrady done more than most investors ever do but they are frustrated that they can’t help more people.
They will succeed because they have a vision and passion that isn’t about money.
They sold a business at a loss so that they will have the time to do property properly. They will succeed because they have positioned themselves to succeed. 100% commitment.
What about you my friends, what about you? Have you parked the oxen up or are they in the crockpot??
Since doing this blog I am very pleased to say the people who sold the business last year are now 6 properties further ahead than they would have been if they hadn’t taken the plunge. In fact i was thinking today that as I think back over my relative short time in property I am seeing more and more people really making it and it’s gratifying to think I had a hand to play in encouraging or training them to achieve success.
For me personally it’s very cool because most of the people I work/have worked with were attracted to me partly because I want to make money to give more away. So many of my students etc. are in this game to give it away. So themore I help them succeed the more the poor will benefit. That for me rocks.
The other thing I notice is that those I know who focus on “getting a big fat fee” on every deal DON’T get as good a result as those who are just happy to take what gets offered, sometimes a little, sometimes a lot.
After all, it only takes a few “littles” to equal a lot
I’m in Christchurch and Wellington this week so the new video blog series may not start till next week.
Anyone looking for a cloning guinea pig please sign me up!!