Hi from Karratha

Hi,

I'm Sasha, I'm 31 and I live in Karratha with my husband. I have always had an interest in real estate, but took a while to dip my toe in to the water. Now, between myself and my husband we have 4 investment properties. Unfortunately we haven't had too much of a plan up until now. In saying that, they haven't been bad investments, we just didn't have a whole lot of direction. We have now decided on the buy and hold strategy and eventually live off the rental income of the properties. This is a long term goal of 15 - 20 years.

We have been looking at attending a meeting with an advisor, but have been very put off by the cost. I would much prefer to spend that money on educating myself. I feel going on the advise of an advisor is very passive and I would prefer to do the hard yards myself. I have plenty of time at the moment to do the education and due diligence myself.

Do you have any suggestions for courses/education? We live in Karratha, so it will be a bit difficult to attend courses in person. Do you have any suggestions to find mentors?

Thanks for reading. I look forward to learning from all of the experienced contributors of this forum.

Sasha

 

I would say - Ask any questions to the forum, you will get a variety of responses

 

Hi Sasha,

Good to see you on here! I was up in Hedland for some time last year, it's a pretty amazing part of the world As Redwing says, you'll find heaps of successful investors here and they're very generous with their knowledge (and it's free!)

 

Start reading books, even if they only cost 2 bucks at the sunday markets,or find a advisor that in very simple terms that explains what not to do rather then trying to sell you something that you don't understand ,each day if you start to read between the lines in this site you see generous acts on advice that aim at no reward not financial or emotional they just give experience away for free..

 

HI Sasha,

I agree to buy some books and read. You will learn the basics and its a really great way to start the absorption of knowledge. You can also ask questions on the forum to clarify concepts you learn. IMO you don't need any 'advisor' or course at this point. The amount of knowledge you will get from reading, asking questions and networking contacts from this forum is more than enough to build a multi-million dollar portfolio if you so wish,

 

Hi everyone,

Thanks for the replies. I'll do a bit more stalking on the forums!

Has anyone got any suggestions for a good book to get started with?

Thanks

Sasha

 

Yardney books, Lomaz books. Good balance of different perspectives, approaches and some good common ground. It will get you thinking and formulating a plan/strategy if you desire. I don't think 1 author or book is enough to get a balanced perspective. just my opinion.

 

I guess it depends what you need to learn, too - if finding the property is the problem, Margeret Lomas book 20 Must ask Questions for Property Investors is good.

There is a book thread here - https://propertychat.com.au/community/threads/book-list.100/

 

I would agree, when you've read a few (or 10+) you'll start to formulate your own system based on others approaches.
Most of the books I've read I probably wouldn't pick up again, the library is good for this.

 

I agree. After I got past my book 20 and not just read but highlight, study, absorb - there is no way I was ever going to make the mistake of buying in a building of hundreds of units or cross collateralising any loans, for example. It just burns the knowledge, at least the basics, in your mind. At least it did for me, and also allowed me to formulate my own perspective. The issue I see more and more is newbies asking questions which shows they have done little to no reading. You just cant rely on other peoples passing remarks/posts etc as the only knowledge source you come to. Just my opinion.

 

Awesome, thanks for the link Jess it is exactly what I need!

 

OK, thanks for the suggestions. At least I now have a starting point.