Can anyone help a newbie investor

Hi all,

I am new to the forum and looking to start a property portfolio. Not sure where to start though.

I went to Dymphna Boholts free 1 day seminar yesterday, sounded great, but after doing my own DD have decided this is not a great option.

I am 48 and I want to generate a passive income for retirement. My wife and I have no mortgage and have nice equity in our ppr.

Ideally I am seeking a possible mentor who would be prepared to share some wisdom, I am more than happy to pay for this.

Many thanks

 

Hi and welcome Jason. You have come to the right place.
The best thing for you to do is to learn about what property investing is all about. This forum is full of great information, conversation, tips and great minds who come together to help each other on their quest.
Start by buying some Australian property investment books from authors such as Margaret Lomas, Steve McKnight, Jan Sommers, John Lindeman. All will have different philosophies and strategies. See which ones make more sense to you and see how they can be useful to you. Alternatively you may find that you can combine strategies and use them.
Also keep up to date with the happenings of real estate by subscribing to popular RE blogs and getting different view points of different matters.
Also there is are regular meet ups in and around Brisbane. Try attend these and talk with real life investors who have been around the block a few times and bookmark this forum and read as much as you can. Ask questions where you aren't sure about something and absorb as much as you can. Property investing is a great vehicle to grow wealth and can be the ticket to financial freedom. Just like anything though, it requires dedication and hard work.

Good luck.

 

Hi Jason, welcome aboard.
I would recommend reading as many books on property investing in Australia as you can find.
Margaret Lomas, Steve McKnight etc...
Libraries are good places to find books.

 

@Jason Muller
Congrats on the decision to invest. It's never too late. Read up on @Travelbug 's story. Most incredible. You can find most details on her story on the previous Sometsoft forums which are now read only. Travelbug started investing in property at a similar age as yourself and has managed to do really well in Sydney. So the opportunity presents itself as to you can repeat the same in the Brisbane market right now.

 

Welcome aboard @Jason Muller

I can't recommend a mentor per se - but this forum is full of many knowledgeable investors who are happy to give info/advice.

I'd also read widely - grab some books from the library and get a feel for the different types of strategies property investors adopt.

When you're ready to go - get yourself a good finance person and accountant.

Cheers

Jamie

 

That was a great decision! Welcome to Property Chat - many of us are ex-Somersofters hence be sure to check out some of the archived posts as well...a wealth of free, quality information