Beginner here - where is the best place/resouce to learn about property development/investment?

Hi people

As a few of you may know, I am new to this forum. So far my experience has been mostly very positive thanks to the awesome people here. I am grateful for that, so thank you.

I am new to this property development/investment industry therefore want to absorb as much knowledge as possible. I can see that this forum is huge, there are many sections/sub-forums, which is good. However, for a beginner like me, it can feel a little overwhelming at times, knowing which subforum to go to in order to learn more.

So I want to ask, is there like a book/summary/sub forum made specifically for beginners, where if they read the resources there, they will be able to learn the fundamentals?

Thanks everyone, and stay safe.

 

You're in a tough spot where you don't know what you don't know so can't search for an answer nor would you probably know what strategy is going to suit you and your circumstances.

There's not really a section that has lots of pinned beginner stuff . There a wealth of resources here but it is not neatly packaged up.

You've mentioned property development is that something that you are keen to get into - it's like property investment on roids or do you think you'll start with investing with other strategies? There are some books and podcasts that might help you along your way together with the forum.

But my best piece of advice would be to not rush into anything. Property is a long game and there is no magic quick fix answer so it's best to take your time and spend time learning to make the best decision you can.

 

Start with the first 20 episodes of the property couch (and other podcasts), read some books, margaret lomas etc. And hang around here.
Is pretty much what i did and going ok so far!!

 

Previously I would have suggested meetups. In these socially-distanced times, that's difficult at the moment.

When things settle down, hopefully the meetups can restart. They are a good way to chat to other investors about their strategies and get lots of different views.

 

You could spend time educating yourself by reading forums like this. To fast track your learning you could also consider working with a mentor who has done it already, or align with a Qualified Property Investment Advisor. There is a wealth of free information available, but as @Westminster said above, at this point in your journey you don't know what you don't know and that is often the hardest part.
Podcasts are a free and useful way to learn as well. Good luck!

 

Register for all online auctions for properties that you wouldnt mind living in. Feel confident to bid if there are multiple bidders going for it. They have done the due diligence for you.

 

Here:
PropertyChat :: Australian Property Investment Forums

 

All the above is good advice. But i'll add to that:
- dont get into analysis paralysis.

I bought my first house in 2006...then i wasted 12 yrs overthinking everything. After i pulled my finger out, i bought a house in 2018, then 2019.

Had i not overthunk everything, i could be sitting on 6-7 properties now.

 

Research and learn the fundamentals first. True property fundamentals never change.

Someone said it earlier, but the first few episodes of the Property Couch are really good - their 2 books are good too.

With 'property educators', just be skeptical when consuming their content. Everyone has an agenda these days. Obviously consume content where it makes sense, but keep a few questions in mind if you are buying from them - what am I actually getting? How do they make their money? What am I getting in return?

Good luck!

 

Thanks Peter. Yes precisely - what are these fundamentals in property? I would like to at least start here, so that I have some foundation first, and then explore other things. In anything in life, I believe fundamentals are the most important.

 

Yes, of course. Do some research on this forum, I'm sure there are many other threads that cover the fundamentals in a lot more detail.

But the Property Couch guys break it down really well (I strongly encourage you to listen to their first few podcasts, or download their PDF binge guide). But essentially they break down the "Property Investment Framework" into the following structure:

A - Asset Selection - what makes a really great high performing property
B - Borrowing Capacity - Property Investment is really just a game of finance and you really need to understand your financial capacity and your ability to take on debt
C - Cash Flow Management - cash (flow) is king
D - Defence - protecting yourself and your assets

Check out the below as a starting point:
Four Pillars of Mastery - The Property Couch

Good luck with it all!

 

This forum is excellent. I also like a guy called MeetKevin on YouTube. Actually recently I'm obsessed with that YT channel. So much free info and resources out there. And don't be hooked in by so-called gurus, experts, helpers, and brokers.

 

Hi Wirtandi,

Good on you seeking help and information before getting started!
I would suggest Margaret Lomas book 20 must ask questions and some of her other books.

If you like learning on the go there are plenty of good podcasts available (incl. some of the ones mentioned above) but just do a search on 'property' and you'll find many good ones. I would also suggest listening to 'Spark your Fire' podcast.

That's probably the best starting point. Then I would also suggest to connect with other investors (like many on here) and I'm sure many are happy to help share their journey and answer questions.

Also if you can find a mentor (a genuine mentor thats been there) they can really fast track the journey.

Just to note - property development is a very different game to property investment (Ive worked at one of the largest resi developers and also invested and can say they're very different... while some things are similar and helpful to know in general they're very different there's more risk, capital and moving parts involved in development). I would recommend maybe focusing on investment first and working your way to development once you have more knowledge and experience