Archive for June 14th, 2006

The ICES Group

A friend of mine had been talking to me about a investment network group that he goes along to every 2nd Tuesday called the Irish complementary Education System group or ICES group.   The ICES host investment seminars/networking nights.  

I decided to pay the €25 and go along to this weeks talk on investing in Gold and silver with guest speakers Mark O’Dwyer and Stephen Flood of Gold Investments.  It turned out to be a very interesting evening with some great insights into investing in precious metals.   The second half of the evening saw a member of the group discuss how he went from 0 houses two years ago to buying 11 house so far this year.   I am slightly skeptical about the positive cashflow that he claimed he was achieving considering the size of his LTV on each property and his ability to find tenants for the properties when students are away for the summer months.   It certainly sounded like a great success story anyway.

On the way home I decided to call into my dad's house to talk about the evening.  He told me a story about one business man which I thought was fantastic:

This guy worked in a factory with about 250 other worker and worked very hard each week.  Unfortunately he had one of the lowest wages in the factory at £80 per week.  Rather than accepting this low wage he decide to have a raffle each week for his £80 wages with a £1 entry fee! 

The guy was now coming out with about £200 a week rather than the £80 that he was getting paid.  I just love stories like this where individuals step outside the box and make a bad situation into a very positive one. 

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