Need some financial advice

I think most books you can get online nowadays anyway, does Amazon have the books that you can download?
You"ll find young people and I live and work with many of them, dont have the patience to look for books.

 

I know what your saying DB and I'm not totally disagreeing with you about the young generation.

But anyone that doesn't even have enough patience to look for a book, aint ever gonna be a successful property investor imo.

 

The books about investing in property don't cover much. Most are the same old basics - look at all my legal and tax tips here, you won't find them in books.

 

I agree with Terry, where is the information about the finance changes in a book?

By the time they publish a book about it the market would of changed.

 

Always enjoy reading your legal and tax tips @Terry_w when are you going to put them altogther in an ebook or such like for a handy ref guide?

 

Terry I have read many, many property books and the like and whilst I agree with you there often isn't detailed legal and tax information, most of the basics are covered quite well which imo definitely makes a big difference for a newbies and can save them many thousands of dollars from avoiding simple mistakes. It also gets them to think about concepts in a different way.

Most of property investing (a large part imo) is really just knowing the basics anyway. And with regards to tax and legal stuff, its not supposed to be in detail in books. That's what meeting with experienced finance brokers, tax and legal experts are for. The forum is an amazing resource don't get me wrong, but to say that its the only place you need to get your information from is just not true, imo mate, but everyone has their own opinion.

add in: I have also always enjoyed your input here, its very valuable.

 

That's why books, forum and networking with like minded people are all important, not just 1 of those, imo.

 

Not disagreeing books have their place for foundations but more up to date info you will find out in the real world not in a physical book printed years ago.

 

No disagreement there mate.

 

Yes I agree that the books are a nice place to find a basic summary - and all in the one place. I and love reading them and try to get a copy of all new Aussie books on investing that come out.

I would recommend the Jan Somers books, even though they are a bit dated now.

 

Thanks Samten. I am collecting all the tips into a word doc and might put it all together into an ebook and/or on my website when it gets big enough. I reckon I could go on for about 2 years with daily tips before I run out.

 

Hey Terry don't make us wait 2 years !!!!!!

 

Local library is a good place to look.

 

Hey Dan, try Jan Somers. She wrote a bestseller. It's a little dated. I think 1992. But it's a great starter. It helps make you think the way a property investor should think. She explains the fundamentals in layman's terms. It was a great read for me. You can get this from eBay. Not sure if there is an e-copy of it though.

 

I was surprised to see that my post has generated such a great discussion. I have actually read many investment books but, as this is my first IP, the theory seems just that when it comes to making decisions. I am grateful that I can post questions here no matter how 'green' and that members put me back on track. I am hoping to purchase again soon and my knowledge and experience is growing. I will continue reading and asking questions. I have a question about something Steve McKnight said about the buy and hold strategy but will start a new thread. Thanks again everyone, much appreciated.