Another newbie!

Hi all! I'm currently on Maternity leave with my 2nd child & am looking for a new venture. Something that will eventually replace my income & allow me to do so by sourcing a passive income. I'm interested in call/put options (short). Has anybody got any advice big or small? I have never touched a thing in real estate investment to date. My only experience has been in the 4 owner occupied properties I have had from 2003-current. I have had a few conversations with a consultant that promotes Mark Rolton's Massland company, specifically the Options agreement course available. I understand it is expensive ($5k) but the process has my attention as I have no capital. Have any of you been able to start out without any? I'm not generally looking to mortgage my home to access the equity. Can it be done doing an options agreement, apart from the options fee,legal fees etc???

 

I would not be getting mixed up with Mark Rolton and Massland. Be very careful there, It is unlikely you will be a happy camper at the end. You said you've "never touched a thing in real estate to date". If I were you, I would be starting to educate myself on the basics of RE investing from some solid books and the forum to build up your knowledge and develop a BS meter.

Massland is definitely not the answer imo.

 

Thank u. I am 'wary' of these schemes. I just keep coming back to the same thought that, I have no capital, unable to get an equity loan (due to being in Maternity leave) & figure that the $5k you'd put up for the course would be at least a tenth of what I'd have to come up with your a IP purchase. Naive?? Don't know. Probably...lol! Any suggestions for good publications/DVD's/online vids?

Thanks

 

Hi there,
I've had a few family relatives that have completed multiple 'Options Trading Courses & Forex trading' and none of them have made any money, even after a few years of sticking to the 'strategy'.
I think it's important to ask "if they could make money so easily by trading Options then why would they need to charge Thousands of Dollars upfront for the course?' They make their money selling the training course and materials with the disclaimer of 'there is no guarantee you will make money'
In my opinion the $5k you were going to spend on a course would be better spent with a reputable Financial Planner who can show you how to build real wealth over time, not promise quick returns based on your own understanding of trading.
Professional traders take years to learn how to earn consistent profits via trading.

 

You sound like me - I had a fling with options trading in 2008 when I was home with 2 little ones.

Before you do anything, read everything by Louise Bedford and Chris Tate. Learn about trends and risk management, and once you have a bit of a basis, buy/sell an option and see how it goes.

Just so you know - I sold a Macq put option in 2008 and lost half my savings in a day. Be wise.

 

If you have an owner occupied property, odds are you do have some capital.

You do need to educate yourself and investing is incredibly difficult whilst on maternity leave as your income is restricted. Take the time to educate yourself as geoffw suggests.

 

I appreciate your feed back. There must be some people out there who have? I don't see it as a get rich quick option but yes, all these webinars lead to a phone call lead to a $5000 cousre....but there are some that have good reputations and no bad review

I am sorry you lost half your savings! That would have been a kick in the guts after all the hard work you would have put in. In my example, the student wouldn't be using their own capita for the 1st 'deal'l. I think that's the attractive part. I would love to go out & do it on my own but getting finance & educating myself are the hard parts. Podcasts & literature are all well & good, but finding good recommendations for either of these is is a mystery. Even knowing which recommendation specifically for a good book to educate myself further is proving difficult. How do you know it's even legitimate itself, without being recommended by someone who has used it's information and been successful with it. There doesn't seem to be any of these around?

I appreciate all the feed back indeed!!

 

Yes I do have some capital but unable to access at the moment as I'm on maternity leave. Also looked into SMSF, but again combined with my partners Super, it's not enough for the 'suggested' amount of at least $200k

Do you have any suggestions in the 'education' for options agreements/selling that you suggest? I'm aware I need to do this in a thorough manner before diving in, but where to start?

Cheers

 

Thanks for the info, I think it would be a difficult section of the Industry to master as I've been advised. I'm ok with hard work, just need to find recommendations for great resources to begin educating myself

 

Thank you, as I have replied to most who have posted comments, I am after ANY reliable sources of educating material...podcasts/videos/books.

 

You may be interested in some of these:

Michael Yardney, How to build a multi million dollar property portfolio

Jan Somers More Wealth from Residential Property

Margaret Lomas How to achieve property success

Margaret Lomas How to Create an Income for Life

I buy Houses, Paul Do

20 must ask questions, Margaret Lomas

 

Reading this forum is probably not particularly structured, but it is one of the best resources out there for property investment. education.

The books suggested are particularly good, but also keep in mind that many of the finance and tax examples they cite may no longer be relevant.

 

Yep. Biggest bang for buck I reckon. Even new shouldnt break the bank .

 

That's awesome, thank u so much. I really appreciate it!

 

Thanks Geoff, I'll take any advice I can!

 

NP. One more book pdf you can read on line you may like. It's around success attitudes/habits/mindsets. It was one of the books that was instrumental in changing my life.

http://4motivi.com/books/jim/seasons.pdf