24 y/o new investor from Sydney !

Discussion in 'Introductions' started by Tito Maldi, 13th Nov, 2016.

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  1. Tito Maldi

    Tito Maldi New Member

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    Hi everybody!

    This website has popped up several times in my reading so thought I'd join the community :)

    Decided this year to begin learning about investing (property and shares) so I can live the dream of financial independence. Got my share portfolio all sorted so I've started learning about property investing! Reading list so far for property is:
    - Making Money Made Easy by Noel Whittaker
    - 25 Years of Witt & Wisdom by Noel Whittaker
    - How to Achieve Property Success by Margaret Lomas (currently reading)
    - From 0 to 130 Properties in 2.5 years (to be read)

    Would love to hear any recommendations for books/resources/advice/tips from your own personal experience and looking forwarded to getting involved in the forum!
     
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  2. Elives

    Elives Well-Known Member

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    richest man in babylon, it's more general advice but i'd highly recommend it
     
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  3. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

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    Well done for starting so young! @MsAli and I started at 23 as well, and property has worked great for us.

    Have you looked at the Somersoft Forums?

    Tips from personal experience - buy as quickly as you can, ensuring you "do your numbers" and not buy at the peak of the market; and don't listen to the naysayers :) when we started a number of people looked down on us investing in Western Sydney (not that much as changed haha ;) ) - we worked out a formula that worked for us, and will continue to work for us.

    Good luck!
     
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  4. Ace in the Hole

    Ace in the Hole Well-Known Member

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    Welcome.
    I've oly read a handful of books in my lifetime, but the ones which turned the lights on we're Rich Dad Poor Dad and The Richest Man in Babylon.
    The rest came from audio stuff from Anthony Robbins, Jim Rohn, etc.
     
  5. Tito Maldi

    Tito Maldi New Member

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    Yes I've read this book, liked it very much. Good simple read.

    Not yet, I am having a look at it now. Is it similar to this forum??
     
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  6. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

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    Yes, PC's predecessor
     
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  7. Eric Wu

    Eric Wu Mortgage Broker Business Member

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    Hi @Tito Maldi , welcome to PC, it is a very good starting point. in addition to the books you are already reading, you might find it beneficial to work on personal development/mindset as well. at the early stage of property investing, it is quite technical ( research, cashflow analysis, tax, legal, ect.), after a few purchases, the mindset starts to play an more important role in the investing journey. Aim higher, think Bigger.

    here are some of my books, hope they could give some ideas.

    @Leo2413 will be able to add more.

    all the best.
     

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  8. Tony Fleming

    Tony Fleming Well-Known Member Business Member

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    Welcome to the forum. I'd put John Potters 'A property investors guide to negotiating' on the to read list. No point mastering a strategy without negotiating skills.
     
  9. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Some nice reads there Eric :)
     
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  10. Eric Wu

    Eric Wu Mortgage Broker Business Member

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    thanks Jess. there is a long list of audio books on my phone, listening to them everyday. "Mindset: The New Psychology of Success" by Carol S. Dweck is also a star.

    Podcasts are nice to have as well.

    I am sure you have a long list of books as well. :). Investors who came a long way on the journey often have 2 categories of books: technical books and mindset/personal development books.
     
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  11. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    I've got the hardcopy of Carol Dweck - one of my favourites. Should be a must read for all parents ans teachers too.
     
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  12. BKRinvesting

    BKRinvesting Well-Known Member

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    Also I'd add just hang out on PC on a regular basis,
    Learn by osmosis.
    I found it more effective than any book

    Edit: also congrats on the early start.
    I started at 21 (albeit without method),
    I'm now 26 and it's amazing how fast things accelatate :)
     
  13. Tito Maldi

    Tito Maldi New Member

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    Thanks for all the recommendations everyone :)

    Yes I'm finding its just good reading the forum (reading a lot about Queensland at the moment) Talks more specifics than some of the books.

    And I say starting at 24 but the reality is, I think its going to be awhile before investing. Currently on non-tax deductable scholarship income for next 2-3 years (doing my PhD) so no room for any tax concessions. Working on saving money for a deposit so I can enter the market as soon as possible and learning so I am well prepared :)
     
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  14. Taku Ekanayake

    Taku Ekanayake Mortgage Broker @KinFinancial Business Member

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