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Newbie to Property!

Discussion in 'Introductions' started by Lil Boo, 18th May, 2016.

  1. Lil Boo

    Lil Boo Member

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    Hi :p I'm a newbie to this forum & to property. Just here to initially listen in, be a sponge & hopefully learn from the conversations.

    What kind of advice would you offer to someone who's starting from scratch?

    Thank you :)
     
  2. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Welcome.

    My advice would be that what may seem overwhelming and out of reach for you today may end up being basic and surpassable in say 10 years time.
    So take action and be persistent and the results will come, especially if you are highly determined and competitive.

    Good luck.
     
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  3. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Hi :)

    At the risk of sounding like I'm drumming for biz, speaking to a broker is really your first step. They'll be able to let you know how much you can borrow, if you've saved enough deposit, any challenges in your scenario and so on. Once you have that info, you can start to make a plan with a better idea of what's achievable for you.
     
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  4. Leo2413

    Leo2413 Well-Known Member Premium Member

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    1. Buy some books on property investing by Australian authors.
    2. Learn and network from other experienced investors on here.
    3. Build your team (will make more sense to you when you do some reading)
    4. Take action when your ready. Basically that's it. Imo step 1 is most important to start with.
     
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  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Read, read, read.

    There's so many free resources out there to educate yourself about property investing. This forum is one of the best.

    Grab some books from the library or eBay.

    Get an idea of the different types of strategies investors use.

    Once you start getting clued up - look for a good accountant and finance person. They'll be come essential contacts as you grow your portfolio.

    Best of luck.

    Jamie
     
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  6. York

    York Finance Broker Business Member

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    Welcome to PC. The most important thing you can do now is learn. Education is the most important part of investing. Once you have grasped the basics, things will be clearer and with clarity comes direction. This forum is a very powerful resource and has been the beginning step for many successful investors. Hang around, read, ask questions and learn. Good luck. :)
     
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  7. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I only have one thing to add:

    Start thinking about your end goal. It'll take time and probably evolve as you learn more but having a clear goal (why are you investing?) is the most important piece of the puzzle IMO. :)
     
  8. Xenia

    Xenia Adelaide Property Manager Business Member

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    Like the others have said
    Self education is the first stepping stone.
    There are no rights and wrongs, because a strategy that works for one person does not work for someone else.

    People can make money on strategis that will devistate another person financially.

    You ability to work out what will work best for you is called self education.
     
  9. House

    House Well-Known Member Premium Member

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    Welcome @Lil Boo ;)

    All great advice above. Conceive, believe, achieve!
     
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  10. Lil Boo

    Lil Boo Member

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    Thanks for replying @Leo2413 :) I know someone with a few property books that I should be able to borrow while I'm starting & came to a meet up last night in Wentworthville... So baby steps have started stepping... haha
     
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  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Good stuff :)

    We all take baby steps to start but you'll be amazed what baby steps for 5 years will add up to ;)
     
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  12. Lil Boo

    Lil Boo Member

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    Thanks @Jamie Moore! Yes I heard that this forum was a good place to learn & ask questions so I really appreciate the advice :)
     
  13. Lil Boo

    Lil Boo Member

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    YAY! PC friends! :p
     
  14. D.T.

    D.T. Adelaide Property Manager Business Member

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    Adelaide, SA
    Hi and welcome
     
  15. Tony Fleming

    Tony Fleming Well-Known Member Business Member

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    You'll love it here. My advice would be to set out your end goals, loan property investing books from your library(even the old ones are relevant to a certain extent), talk to a broker and than start investing your heart out :)