Lovely words Vanessa, I would believe that and wish to let Gerry know I'm sorry to hear of his loss too.

To return to the subject though Gerry,

I have to say my thinking is more aligned with Jonathan's with regard to sticking with property. I can see how for you, it has worked to stick with your more balanced plans and perhaps that is best for some people but like Jonathan, I have considered, toyed with and explored other businesses and investments over the years but have always come back to really, truly and strongly believing that property is unbeatable and that, for me, giving it 100% works better.

It is, as Jonathan says, a good thing we're not all the same though

Re paying down mortgage debt specifically, there are a few differences between my position and yours, the main one being that when I have paid down some mortgages (and may well continue to do so) they are what I call 'post credit crunch mortgages' on higher rates, such as base + 4% or more. Also, my overall LTV on the portfolio is still around 75%.

My portfolio value is around £13M and having reached my target 100 properties, I'm not really interested in adding to that number. I feel it's time for "phase two", the overall goal of which is to be able to keep as many of the properties as possible for the rest of my life, which ultimately means (I presume) they will need to be mortgage free...

One of my dilemmas with regard to paying down debt though is that my income/profit is already uncomfortably high vis-a-vis tax - I pay too much already! If we pay down more & more debt, we'll have to pay more & more tax which is not nice. I'm not sure what to do about that - maybe lose some on shares?! I'm quite good at that:-)

Anyway, it's good to have your thoughts.

Angela

A great thread. I have awarded it 5 stars if that somehow matters. Hopefully it means more will read the thread.

(10-09-2012 06:34 PM)john_corey Wrote:  A great thread. I have awarded it 5 stars if that somehow matters. Hopefully it means more will read the thread.

I didn't know you could do that John, I too have awarded it 5 Stars, thanks for pointing out that can be done.

I second that comment regarding Jonathon writing a book. I would definitely buy it! His writing style reminds me a bit of Seth Godin.

(11-09-2012 09:32 PM)amrit Wrote:  I second that comment regarding Jonathon writing a book. I would definitely buy it! His writing style reminds me a bit of Seth Godin.

Cheers Amrit - Most kind - The first page has been written

Seth latest book - ` We are all Wierd`

http://www.amazon.co.uk/Are-All-Weird-Se...117&sr=8-1

reminded me of this PT post

http://www.propertytribes.com/are-millio...-4349.html

Jonathan,

Maybe you would like to write your book on Property Tribes and create a unique thread that people could ask questions and "direct" the book ... I guess like a "living" book?

I think it would be a fab experiment.

If you wrote on chapter or even just one paragraph a day it could grow into something spectacular!!

That could be a great idea Vanessa!

My book also came about as a result of someone seeing my posts on a forum. (The forum was HouseMouse which no longer exists). Someone approached me and suggested I write a book, so I did! However, I must admit two things:

1. When it comes down to it, financially there's very little gain in writing a book unless you have a clear plan before you start. I wish I had understood this before I started, as my book has never made any money to speak of. Effectively, you should be clear about why you're doing it, how you will market it and what you want it to achieve for you.

2. My book writing didn't have the same sparkle as when I wrote on the forum (I was told this and I agreed). I enjoyed writing on the forum, as I still do, because it felt like chatting with like minded people on my favourite subject; whereas writing the book felt like work, and felt quite lonely at times. In fact, I would never have done it were it not for the close support of the person who encouraged me to write the book. (He hoped to make money on it, as a JV).

Unlike chatting on the forum, writing the book was all about structure, logical sequencing, achieving a fair balance between noteworthy points, the requirement to get facts correct about the latest tax thresholds, government regulations and so on... I somehow expect that Jonathan would not enjoy such a dry endeavour.

However, let's assume that Jonathan could see some valid business reason for undertaking to write his book. Let's also assume that he'd only do it if is was fun and felt more like just chatting on the forum. The question then becomes: how could he achieve this? Here's my idea...

When I wrote my book, I wanted it to be a how to, factual, step-by-step guide to property investing success - which entailed all the structure and discipline that I described above, but I also wanted to make it personal. I struggled too with how to integrate my perspective on the business with my husband's. Although in reality we both contribute equally to our success, I cannot write from inside his brain! So what I did was incorporate 'Dave's Diary' which appeared as snippets throughout the book, with more at length as an appendix. I actually got him to dictate in his own words what he wanted to say about what he'd done each day.

I have to say that as many people who told me they enjoyed reading my book, at least as many reported that they particularly enjoyed Dave's Diary! Some people even suggested: "If you write another book, maybe you could do one that's just Dave's Diary?" I wasn't quite sure how to take that, given my ego assumed I was the star:-)

My point is that whereas I think a textbook would be difficult to structure from a starting position on the forum, Jonathan could write "a living book via the forum" as you suggested Vanessa, that was effectively "Jonathan's Diary" . As a diary, it would not need to have all the 'text book' attributes of structure... and boring facts!

A focus on mindset comes very naturally to Jonathan and we all enjoy his musings, as much as he enjoys sharing them. A diary of course can include your latest random thoughts and ruminations, even ones inspired by the forum, rather than simply being a log of what you did today or this week. In this way, the book could practically write itself!

Well, just some thoughts from me, fwiw.

Angela

Great insights and ideas Angela!

To write a book takes huge dedication and discipline. But if you break it down into small chunks, it writes itself.

I may turn my own blog into a book at some point in the future.

I do hope JC gives this due consideration. He has such clarity in his writing and I always learn so much from his thought processes, he often gives a different angle that I had not previously considered.

JC - are you up for a challenge? PT will support you all the way!

Angela - Very incisive and helpful thank you

Having had a life of structure I now relish no structure.
And you highlighted what i suspected that to write a book requires (quite rightly ) effort and discipline.
My first page of my book was written in 2005 and has remained static since then. That tells me something about myself!
I discovered I had no discipline for formalised writing. I lacked the required effort needed. I like musing though
My discipline was property. Maybe the tide will turn. I was declined by TMW the other day. ( How dare they! !!!)

I relish freedom more than money but have manufactured the latter to gain and secure the former.
That now gives me choice.

I have thought about a diary V, now and in the past but I guess I dont want to feel the pressure ( unintentional I know) to perform and I scurry to think of excuses. The actor on the stage loves what they do but the `The show must go on` mantra is a permanent nagging pressure not to let the side down. A joy must not become a chore. That is my fear. I`ve seen and spoken to those who feel that way. They have started strongly but finished weakly as they lose their spontaneity and their once enjoyable randomness becomes visibly brittle and stiff. I have been approached by several over the years to write these blogs thingys but have always politely declined. PT offers an outlet in a format which suits my mindset and style at the moment. It in many ways may turn out to be my living book. I dont know. I may change. I`m totally open to change but can be also very resistant. I can be stubborn
I take after my mum with her...
..... `and tell me Jon exactly what is wrong with a black and white TV`

I`m content with my lot.
To be content with ones lot is success. I dont have to strive anymore. I can potter. I like pottering.

Try this book..... `The Importance of Being Idle` .

http://www.amazon.co.uk/Importance-Being...7&sr=1-1#_

Thats was my goal. In order to now be idle..... I had to not be idle for a bit. That took discipline
Thats where property came in . It was a means to an end. A thoroughly enjoyable means. I can highly recommend it to those starting out. It fufills so many parts of ones being all at the same time. But its still a means to an end.

Being declined by TMW was seminal moment for me. I didnt cry. It bought me a quirky relief. A buzz in fact.
I havent had that feeling before. I`m beginning to enjoy that feeling.
The tide has turned. My focus is changing. I have lots of new ideas.
Watch this space...... :-)

Such warmth and humility in your writing JC. You have a very real talent ... but totally understand and respect the difference between musings and formal writing.

It seems that many of the wealth creation crowd follow the strategy of getting books published so that they can call themselves "published authors" even if their book is nothing new, exciting, or valuable. Books are also often used as data capture channels and ways to bring newbies into their marketing funnel i.e. Andy Shaw's book that brought so many people into the Passive Investments web.

The best way is to lead and not follow in other's footsteps. Being original & authentic shines through and there is a lot more value in your PT musings because of that.

Out of interest, do you know why you were turned down by TMW?

Awaiting your next move with interest!!