Low doc mortgages have been a favourite mechanism for investors especially those with multiple properties, but there have been alot of movements on the market recently with the tightening of the credit market:
- The LVR% is getting lower
- The number of low doc loans on offer has been reduced
- There are new mortgage insurance rules which are impacting on the ability to refinance so you may need to look for loans that do not require mortgage insurance
- The documentation is getting tighter
As one would expect, there is somewhat of an overreaction by the banking sector which will hopefully settle down and the borrowing scene will be a little easier.
Procastination is one of the great inhibitors of progress and success.
In part 7 of Think and grow rich we look at the impact of procrastination and how you have to find a way to overcome it.
One of the major focus is that you have to take action and this can often take a degree of courage.
A second focus is to be careful of listening to other people’s opinions when taking action.
Here are some quotes from the book that I like:
LACK OF DECISION was near the head of the list of the 30 major causes of FAILURE. This is no mere statement of a theory— it is a fact.
The majority of people who fail to accumulate money sufficient for their needs, are, generally, easily influenced by the “opinions” of others. They permit the newspapers and the “gossiping” neighbors to do their “thinking” for them. “Opinions” are the cheapest commodities on earth
Keep your own counsel, when you begin to put into practice the principles described here, by reaching your own decisions and following them. Take no one into your confidence, EXCEPT the members of your “Master Mind” group, and be very sure in your selection of this group, that you choose ONLY those who will be in COMPLETE SYMPATHY AND HARMONY WITH YOUR PURPOSE.
DEFINITENESS OF DECISION always requires courage, sometimes very great courage
Another great inspiration, Barry Golding who I met through my link up with Desert MultiMarathon is an amazing individual.
56 years old, he is a world leading running coach, is setting up huge adventures, running a network marketing business and his latest goal is to the be the first person to run a marathon aged 100. The most recent attempt was an 81 year old who died in his attempt.
The energy Barry has is quite astonishing and a real inspiration to anyone who links getting old with achieving less.
Loneliness can be one of the best things for us. It is in fact one of the aspects to life that I actively seek out.
Why would I do this? Well, one of the benefits of loneliness is that the only person left who knows/cares about you is yourself. If you can be happy when you are in a lonely situation then you are most likely to be happy with yourself.
So, go and seek lonely environments and if it makes you unhappy or miserable, explore why this is the case. You may learn more about yourself than you have ever done before….
Yoga Nidra is a brilliant technique for revitalising and spirit.
We have discussed the importance of maintaining mental wellbeing and I would thoroughly recommend this technique as a powerful tool to not only refresh and sustain you but also to give you deep insight into your current state of mind.
A form of meditation, it is more easily grasped for beginners as it is conducted in the prone posture so is somewhat easier than sitting meditation.
Of course, in the beginning and especially if you are stressed, tired or drained then you are most likely going to fall asleep. This in itself is a great indicator of the mental state.
As you improve you mental state and powers of concentration, you will begin to maintain a meditative state. This is a great time for affirmations, and increase body and mind awareness.
If you haven’t tried this technique then give it a go!
I read a fascinating article recently; I love inspirational stories about people who somehow manage to rise above a truly challenging situation.
Important to keep your life in perspective especially with the ever increasing media of negativity that is floating around us.
The story is about a lady called Jean-Dominique Bauby who was diagnosed with locked-in syndrome and is the longest survivor. This means you are totally paralysed except for your eyelids. Jean communicates with her eyelids and has still managed to be there for her familly for the last 14 years.
The property that we have for sale is in Moree is as follows:
· Attached are a couple of recent photos
· Address – 2-4 Queen Street, Moree
Hi Members,
I was approached by a gentlemen called Dan Chivers from :the corporate compass, who has asked me to let members know about the opportunity to purchase an investment from his personal property portfolio.
I don’t know Dan personally, but checked him out and he seems above aboard. If you are interested and would like my personal view on this property then feel free to contact me.
Details below:
· Six two-bedroom flats on two titles - two detached buildings of three units each on two separate titles
· Low maintenance masonry block/timber construction
· Can be sold as one lot of 6 units (under two titles) or two lots of 3 units each under separate titles
· Evaporative air cooling in each unit
· Polished wooden floors
· Relatively new kitchens and updated bathrooms
· One bathroom and laundry
· Current rates are $2,400/year/title equaling a total of $4,800/year
· Currently 100% occupancy at $135/wk equating to gross income of $42,120/year
· Current sale price $520,000, located in Moree
Success Secrets by Jonny Wilkinson - the English rugby great.
I read an interesting article in the paper today; it was titled “Jonny Wilkinson shares his keys to success”. Naturally, I had to read it and was expecting the normal sports star story explaining all the hours of practice and dedication etc, etc.
WRONG!
Instead it turns out that in the years that Jonny was one of the most recognised faces on earth and the leading Rugby player on earth, he was riddled by a fear of failure, and a total focus of comparison to others and a desperate need to be number one
Since then he has been on a self-discovery journey of Buddhism and Quantum Physics to try and arrive at a better personal space. What did he discover is the question? The secrets that he learnt are below:
You need to be able to be okay to fail,
Don’t be attached to things as everything changes
Do things to help others than only things that will help yourself
Enjoy the journey not just the end goal
Very interesting article and a reminder to focus on your own personal development
This is the sixth step in “Thinks and grow Rich” framework and is about organised planning.
The main focus of this chapter is around the importance of converting desire into action and the use of plans to accomplish this.
The other key message is that successful people have the ability to change their current plans if they are not working until they find a plan that is working. This is linked to the other core trait of PERSISTENCE.
Here are some quotes from the chapter to cement these messages:
“If the first plan which you adopt does not work successfully, replace it with a new plan, if this new plan fails to work, replace it, in turn with still another, and so on, until you find a plan which DOES WORK. Right here is the point at which the majority of men meet with failure, because of their
lack of PERSISTENCE in creating new plans to take the place of those which fail.”
“When defeat comes, accept it as a signal that your plans are not sound, rebuild those plans, and set sail once more toward your coveted goal. If you give up before your goal has been reached, you are a “quitter.”
