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So i just wanted to get my thoughts out there and get others view on this. I have read Rich Dad Poor Dad and found it was a great eye opener and simplifies a lot when it comes to finance. I have thought a lot about the term in that book of "owning a house is a liability" and i know that the two Robs have challenged this idea on one of their pod casts and have seen people asking this time and again. I am also sure a lot of people are in the same boat as me and have a similar worry/concern. I rent a 3 bedroom house and pay £795 per month but I want to start my property investment/trading business but also buy/live in my own home. But, I only have enough capitol currently for one house. So i have thought long and hard on this and came to the conclusion that buying a house to live in isn't necessary a liability as mentioned in the book. And here is my thoughts why; as it will enable me to pocket almost £600 per month saving on my rent, so from my view point is, this is a profit per month and thus an asset versus a liability as it increases my cash flow. But am i wrong? Whats others thoughts on this? Thanks Alex
Entrepreneurial but also utterly geeky
DianaR posted a topic in Introduce yourselfGreetings PropertyHubbers! I'm Diana, based in SE London, and have been brought to the forum by Rob D's inspiring books in property investment (thanks Rob D, I've turned into a fan!). I have a very mixed professional background, having worked in private, charity, academic and public sectors - and that's because I'm essentially a big fan of learning and of trying new things. At heart, I'm very entrepreneurial, and I've never been a fan of full-time work, so I'm dreaming of the day I will become financially independent. My dad has always inspired me with his entrepreneurial and property investor mindset (although I'm not sure if he's a rich or a poor dad!), but the seeds are only now starting to blossom in my mind. I'm ready to start as an investor, and very much interested in property investing, especially in the BTL sector, but I'm only now starting to save for my first property, so I'm still at least a year or two away. Using this time to learn and get my feet wet. I'm very nerdy, I devour books but also love spending time buried in spreadsheets and numbers. I'm keen to learn and driven to action, but I don't have any social networks in the property investment space. None of my friends know about or are interested in property investment. So I would be really keen to hear from fellow experienced investors, to discover inspiring mentors, and to exchange impressions. I already have a few ideas on my first few potential investments, but I have no one to bounce them off! Really happy to be part of this community, and keen to learn from you all! Diana
The Founder - A movie review
Loose Chippings Property posted a topic in General property discussionDear Hubbers, I’ve just had a chance to see up coming movie: The Founder staring Michael Keaton. It’s the true story of how Ray Kroc (Michael Keaton) a salesman back in 1953, met the two MacDonald brothers who were having success with their first speedy burger restaurant. It chronicles how he took that concept and made it an American success story. While all that’s interesting to any prospective entrepreneur with lots of business lessons, dressed up as a fun film, it has a particular resonance to our industry. SPOILER ALERT. Actually, I don’t feel too guilty about this as I already knew this and many reviewers will spill the beans anyway: Kroc discovers something: McDonald’s isn’t a restaurant business, or a burger business or a milk shake business, it’s a property business. Insomuch, they buy prime real estate and lease it along with the restaurant franchise. Thereby keeping control of costs and quality. Surely something that any Rich Dad, Poor Dad aficionado would endorse? Anyway, it’s a great film, and Michael Keaton is fantastic too - although I suspect, without scantily clad ladies, guns, explosions and super heroes, it won’t break box office records. Arrives in cinemas in Feb 2017. Enjoy. Pete