Starting out - your best resources

Discussion in 'Property Information Resources & Tools' started by supersimplestuff, 23rd Nov, 2016.

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  1. supersimplestuff

    supersimplestuff Member

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    Hi all,

    I'm just starting out in my investment property journey. I was hoping I could leverage off the experience that exists in this community.

    So my question for you is if you were starting out what resources would you swear by? If your son was just starting out what book or course or whatever would you make sure that they use.

    Thanks in advance
     
  2. New Town

    New Town Well-Known Member

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    I'd go to the source! A valuation diploma or study.

    But nothing beats learning from experience. Jump in and buy a basic unit in Brisbane middle ring and he'll be well along the learning curve.
     
  3. Blacky

    Blacky Well-Known Member

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    there is this really awsome website which has everything you need to know tucked away. Also there are people who you can ask for advice, thoughts and direction.
    I would start here first
    There are heaps of really top class proffesionals you can find as well. Brokers, estate agents, BA's accountants, lawyers everything you need.
    You get all that - plus more all for FREE. Be nice and someone may even let you into their secret* meet ups.

    site address is www.propertychat.com.au

    Blacky

    *its not really a secret but you need to log into the site from time to time to see when they are happening. Or you could arrange one yourself if you want. o_O;)
     
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  4. Tony Fleming

    Tony Fleming Well-Known Member

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    Welcome! It's hard to say which book to recommend because there are a million different strategies out there. Only you know what you want to achieve through investment. Do you think you will be more focused on cash flow, capital growth etc?

    As Blacky has said you have already come to a great place to learn. In the meantime I'd suggest reading the richest man in babylon, rich dad poor dad and a property investors guide to negotiating.
     
  5. trinity168

    trinity168 Well-Known Member

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    HI,

    Do a quick search on books and resources. This forum is a great place to learn and heaps of mentors here.

    My personal favorite book on RE would be More Wealth by Jan Sommers.
    I enjoy podcasts so, again, there's heaps mentioned on this forum. With podcasts, Everyday Property Investing by Karen Young.

    Good luck.
     
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  6. Al1979

    Al1979 Well-Known Member

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    - Read a lot on these forums
    - Listen to podcasts (the property couch, Smart property investor)
    - Don't just follow one group / person / spruiker look at multiple strategies to understand what is best for you.
     
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  7. supersimplestuff

    supersimplestuff Member

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    I'm not confident in jumping in head first without doing research first
     
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  8. supersimplestuff

    supersimplestuff Member

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    Thankyou - I have read those first two books (I'm on the path) - will look at the negotiating one.

    I am thinking I will go for capital growth whilst I'm younger and transition into income as I want to be in a position where I don't rely on my job for income. Is it too much to say I want capital growth and income?
     
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  9. supersimplestuff

    supersimplestuff Member

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    Great - looking forward to the invite :)
     
  10. Tony Fleming

    Tony Fleming Well-Known Member

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    You can have both :) just need to know where to look. You need both capital growth and cash flow to build a solid portfolio. Renovating to create some sweat equity helps a lot. Are you handy with tools?
     
  11. supersimplestuff

    supersimplestuff Member

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    No not a handy man - I would think that I would need to outsource this. Just checked out your website Tony looks interesting.
     
  12. Sackie

    Sackie Well-Known Member

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    Agree with others re this site and books .

    Only other book i will recommend is "the seasons of life" by Jim Rohn. It's my philosophy bible for super success.

    That's my 'secret' book.
     
  13. supersimplestuff

    supersimplestuff Member

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    will check it out thankyou
     
  14. Gockie

    Gockie Life is good ☺️ Premium Member

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    Checkout the meetups! I see you're in Sydney. There's one on tonight and another tomorrow.

    And yes.... don't jump in and buy an apartment in Brisbane...
     
  15. John Ferguson

    John Ferguson Well-Known Member

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    Listen to as many Podcasts on property investing as possible.

    I believe I learnt more in 20 hours worth of podcasts than in 2 years of reading books.

    Source a good team (Broker, Accountant , solicitor and BA if buying interstate)

    Good luck!
     
  16. fols

    fols Well-Known Member

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    Margaret Lomas books. Read them all.
     
  17. jins13

    jins13 Well-Known Member

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    Learn from experienced people that can back up their claims. Talk is cheap and I judge people by their behaviours or actions. I've personally spoken to people who think they are a guru and they have nothing. Don't waste your time and breath on people like that because personally they are morons.

    Not all strategies and books may be suitable for your own individualised needs.
     
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  18. trinity168

    trinity168 Well-Known Member

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    Another thing I remembered, tho not property related, the no#1 Podcast business right now is Tim Ferriss show, I especially enjoyed the episode,

    The Art and Science of Learning Anything Faster | The Blog of Author Tim Ferriss

    A term he used is, Meta Learning, which is simply learning how to learn. And, learning from the best, and must be reproducible.

    So you are on the right path, on the right forum, asking the right questions.
     
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  19. JM investor

    JM investor New Member

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    WHY are you investing?
    WHY do you want to invest in property?
    WHAT are you hoping to achieve?

    Really weigh up the pros and cons of property, and make sure its the appropriate vehicle for you before taking the plunge. Most people have a fantasy about wealth creation through property. Truth is, it takes a lot of years and hard work to achieve success.

    If you still want to do property, my advice is read, read, read, listen to pod casts, read, read, study, go to forums, read some more, some property mentoring groups are good to learn from, others not so much ..... and then as you start investing .... keep learning, reading and never stop.
     
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  20. jins13

    jins13 Well-Known Member

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    I agree that it's good to mirror the success experienced by other people instead of reinventing the wheel but of course modify it to suit your needs. Happens all the time with artists, business people, polticians, war strategies and etc. You could also say that some people fail to learn from the failures of others and still commit the same mistakes.
     
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