America is reforming its banking system. Expect Britain to follow suit. Credit will never be as easily available as it was a few years ago. Therefore house prices cannot rise any time soon.
The economy is so bad that 400 people are battling for one job. McDonalds say they are receiving 2,200 job applications every day. Who said the economy was picking up? Absolutely no chance. Graduates are getting no jobs, low level workers are getting no jobs, and highly paid white collar workers are also facing unemployment hell.
There's a lovely story in This is Money about how hotel chain Travelodge is buying distressed hotels. They have a 100m war chest of cash and now they are buying cheaply. A quote from Travelodge is: 'What stopped negotiations moving forward on many of the sites were the excessive valuations placed on the properties. Over the last two months however it has become clear that expectations on value have moved in our direction, meaning some exciting opportunities are presenting themselves.' The lessons here are that 1) cash is king 2) buy cheap 3) Don't spend extra money doing extensive conversions, just rebrand the existing building and live with it.
The economy is so bad that 400 people are battling for one job. McDonalds say they are receiving 2,200 job applications every day. Who said the economy was picking up? Absolutely no chance. Graduates are getting no jobs, low level workers are getting no jobs, and highly paid white collar workers are also facing unemployment hell.
There's a lovely story in This is Money about how hotel chain Travelodge is buying distressed hotels. They have a 100m war chest of cash and now they are buying cheaply. A quote from Travelodge is: 'What stopped negotiations moving forward on many of the sites were the excessive valuations placed on the properties. Over the last two months however it has become clear that expectations on value have moved in our direction, meaning some exciting opportunities are presenting themselves.' The lessons here are that 1) cash is king 2) buy cheap 3) Don't spend extra money doing extensive conversions, just rebrand the existing building and live with it.
The most unpopular time to buy property is the first and last quarter of each year. I don't know why, and I don't care. All I know is that there will be less competition at these times, so that must be the best time to buy. As far as buying property goes, I think 2011 should be a good time.
I was in Waterstones bookshop today and came across the book How to be a successful entrepreneur. It turns out the author has never run a business in her life, and is a university lecturer! Who is she to give advice on this? The best way to prove her knowledge is to make millions in business, then write a book. She does not know how to, which is why she remains a lecturer! This is why it's very important to be careful of who you take knowledge from. There are many similar life coaches and seminar gurus who make a good living from duping money seekers in this way.
Today I've been thinking about money and the mind. Everything starts from the mind, so a wealthy mindset is essential. At the same time a firm grip must be kept on reality, things like the recession should not be denied or minimised by positive thinking. The philosopher Emerson said it is good to think of castles rising into the sky but you must then build foundations under them.
I was in Waterstones bookshop today and came across the book How to be a successful entrepreneur. It turns out the author has never run a business in her life, and is a university lecturer! Who is she to give advice on this? The best way to prove her knowledge is to make millions in business, then write a book. She does not know how to, which is why she remains a lecturer! This is why it's very important to be careful of who you take knowledge from. There are many similar life coaches and seminar gurus who make a good living from duping money seekers in this way.
Today I've been thinking about money and the mind. Everything starts from the mind, so a wealthy mindset is essential. At the same time a firm grip must be kept on reality, things like the recession should not be denied or minimised by positive thinking. The philosopher Emerson said it is good to think of castles rising into the sky but you must then build foundations under them.
No comments:
Post a Comment