These notes and highlights are from the book;
From 0 to Financial Freedom By Steve McKnight
‘Investors can only evolve with the market – they can’t change or make the marketRead more at location 126
3 An inability to stick with the plan and see it through to completion.Read more at location 179
‘the further you are from the problem, the further you are from the profitRead more at location 267
1 Make a decision that change is not optional, it’s essential. 2 Find a ‘higher source’ of information to learn from. 3 Make some tentative steps along the financial road less travelled, and with each step you’ll feel more empowered andRead more at location 338
Instead of seeing investing as an outcome (like buying assets and making money), see it as a career requiring the acquisition of skills,Read more at location 506
1 Scope – having a clear idea of what you want from your investing and why. You have started to do this already by setting your income, asset and time goals. I’d encourage you to think about why achieving these are a must and not just a maybe. 2 System – identify a system you can understand and implement to achieve your plan. 3 Skills – invest in yourself and in your investing career by acquiring the necessary skills to successfully execute your investing system. The more you invest in yourself and your ability to apply what you’ve learned, the more successful your investments will be. Remember, like any career, it’s going to take time, and your potential and progress will increase as you turn knowledge into profit by taking action.Read more at location 520
1 Earned income – most people will need a day job to pay for their lifestyle expenses and to prove borrowing ability. 2 Asset accumulation – acquiring growth assets that will build your capital base. 3 Passive income – redeploying your asset base into high-yielding investments, such asRead more at location 530
I’d also like to reaffirm that knowing when to sell an asset is at least as important as knowing when to buy. The right time to sell is when you can get a better (but not necessarily higher) return, with less risk and less aggravation.Read more at location 704
By definition, an income accelerator adds to your income, but not on a per hour worked basis. Instead, it tends to pay you in chunks, or slowly over time in recognition for applying intellectual property.Read more at location 717
These notes and highlights are from the book;
From 0 to Financial Freedom: How to Do It Today by Steve McKnight
An offline business uses a traditional business model to combine your intellectual property in respect to solving a problem with additional time capacity contributed by either employees or consultants.Read more at location 729
working in the business. Note:Read more at location 733
In fact, for you, figuring out your income accelerator is more important than working out your property investing strategy, because the money you’ll bring in the door with your accelerator is what you’ll be taking out the door to buy properties with.Read more at location 790
2 Don’t go it alone. It will consume unnecessary amounts of time and you will certainly make expensive mistakes. Instead, seek out a teacher who has done what you are trying to do and can speak from personal experience to fast track your progress.Read more at location 929
I advocate debt-free commercial property so as to eliminate credit risk while also maximising cash flow.Read more at location 969
I can’t state this strongly enough: don’t go it alone. Your financial future is too important to believe you don’t need any help. I have spent tens of thousands of dollars on upskilling my investing career, but the financial and non-financial returns on that investment have been enormous.Read more at location 995
