Comments on: Creating a Business Plan – Day #26 – 365 Days TO Wealth http://www.ryanmclean.net/creating-a-business-plan-day-26-365-days-to-wealth/ Living a Wealthy Life Sun, 18 Jul 2010 22:58:28 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Hermann http://www.ryanmclean.net/creating-a-business-plan-day-26-365-days-to-wealth/comment-page-1/#comment-5355 Hermann Wed, 27 Jan 2010 20:31:23 +0000 http://www.ryanmclean.net/?p=2338#comment-5355 We settled on our first property 13 months ago, and last year got more serious and specific with our goals, and now we're deciding what the best way forward is now for us. We settled on our first property 13 months ago, and last year got more serious and specific with our goals, and now we’re deciding what the best way forward is now for us.

]]> By: ryan http://www.ryanmclean.net/creating-a-business-plan-day-26-365-days-to-wealth/comment-page-1/#comment-5353 ryan Tue, 26 Jan 2010 22:32:43 +0000 http://www.ryanmclean.net/?p=2338#comment-5353 Actually I really liked this. I just did the calculations on a bit of paper and it seems to work really well. I didn't know you were into property investing...doing well? Thanks for the example Actually I really liked this. I just did the calculations on a bit of paper and it seems to work really well. I didn’t know you were into property investing…doing well?
Thanks for the example

]]> By: Hermann http://www.ryanmclean.net/creating-a-business-plan-day-26-365-days-to-wealth/comment-page-1/#comment-5351 Hermann Tue, 26 Jan 2010 04:44:30 +0000 http://www.ryanmclean.net/?p=2338#comment-5351 ... This is something we learnt from Steve Mcknight & his coaches. This is under the premise (as in Steve's latest Wheel of Wealth or Monopoly theories/models) that you would invest the lump sum in commercial property getting a minimum 8% return - and in the above example earning $200k gross a year. … This is something we learnt from Steve Mcknight & his coaches.

This is under the premise (as in Steve’s latest Wheel of Wealth or Monopoly theories/models) that you would invest the lump sum in commercial property getting a minimum 8% return – and in the above example earning $200k gross a year.

]]> By: Hermann http://www.ryanmclean.net/creating-a-business-plan-day-26-365-days-to-wealth/comment-page-1/#comment-5350 Hermann Tue, 26 Jan 2010 04:18:40 +0000 http://www.ryanmclean.net/?p=2338#comment-5350 Awesome post Ryan. One strategy given to beginning property investors who have a goal but find it hard to set the milestones along the way to account for their growing expertise, experience and capital is the half-life theory. Say you have a money Goal of $2,500,000 and the timeframe is 10 years. The Half Life theory says to each time divide the timeframe by 2, while dividing the $ by 3. For example the next step would be 5 years and $833,000 and the next step 2.5 years & $277,777. This is said to account for you gaining experience and increasing your capital as you do deals. It's a bit simplistic but can can be quite helpful to beginners. I'm unsure if it applies to your situation and strategy. Good Luck! Awesome post Ryan.

One strategy given to beginning property investors who have a goal but find it hard to set the milestones along the way to account for their growing expertise, experience and capital is the half-life theory.

Say you have a money Goal of $2,500,000 and the timeframe is 10 years. The Half Life theory says to each time divide the timeframe by 2, while dividing the $ by 3. For example the next step would be 5 years and $833,000 and the next step 2.5 years & $277,777.

This is said to account for you gaining experience and increasing your capital as you do deals.

It’s a bit simplistic but can can be quite helpful to beginners. I’m unsure if it applies to your situation and strategy.

Good Luck!

]]>