WHAT I HAVE LEARNT FROM THE FORUM..
1/ If it sounds to good to be true, it probably is.
2/ Risk + Effort = Reward
3/ Make a Plan and stick to it.
4/ It’s amazing what you don’t know, be open to new ideas and others views
5/ Do your “due diligence” ; research and evaluate the potential of your deals, assess the pro’s and con’s and make an ‘informed’ decision. One thing this site has taught me is “Researching your purchases is paramount”.. it’s no good buying a + Geared property in a one horse town if the horse then leaves
6/ My maths teacher was right, it ‘does’ come in handy.
7/ Protect your asset’s ( Trust’s, insurance )
8/ The earlier you start, the better ( Look at Still In School )
9/ You make your money on the purchase, not the sale !
10/ Remember – The main aim of property investing is to find and acquire properties that have the ability to generate long term capital growth ‘and’ consistent rental demand and income, you should always be on the lookout for properties at a discount to their real value…
11/ Aim to create a ‘Passive Income’.
12/ Build your asset base
13/ Buy well located property, Value add and manage well.
14/ Be Pro-active – not Re-active.
15/ Land Appreciates, Buildings Depreciate
16/ People choose to live in an area for its:
*Proximity to Schools
*Security
*Public Transport
*Proximity to Shops
*Availability of Employment
*Recreational facilities17/ Get A depreciation schedule conducted by a QS
18/ Take out Landlords Insurance and have a contingency ( Emergency fund )
19/ Be ‘Prepared’ to take advantage of deals when they appear, he who hesitates is lost !
20/ Assets + Time = Wealth
21/ Ask Questions and seek knowledge, others are prepared to share it.
22/ Scepticism is Good cynicism is not.
23/ NO RISK = NO REWARD
That’s all I can think of for now, does anyone have anything else, or their own list to Add ??[
]REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
I reckon you have summed it up very well. All you need to do now is start the Redwing Institute and charge a fortune for the 2 day course.
I am going to Cut and Paste it and put it next to my Desk in the Study at Home. It may not look too good in my office at work.
Good one redwing…you seem to pick up everything from this forum.
Good on you.
Warm Regards
ChanDollars
[Keep going, you’re on your way to financial freedoom]Excellent work – i don’t think there is anything i would add except maybe there is never a bad time to start except if you don’t start
cheers,
bluecatDo today what you want to do tomorrow
great list
maybe what I learnt from here:
we dont all have to agree
there are many ways to reach a goal- gotta have one first though
elves
I believe that the more i learn, the more i realise as R.Kiyosaki say’s That This “IS” my business ( Real Estate Investing ), look at the Figures involved etc..
And the sooner you treat it as such, the better..
It’s a learning process and this Forum is a great place to learn with many members having a “Wealth” of knowledge and “Experience”..*Thanks* to all that have posted replies to my questions over time [:X]
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
I’m a bit confused (which is truly not a new thing) – I have seen PropertyInvesting 101 referred to a few times – is it a separate site????
I want to learn what “redwing” did!!!!
/24 Don’t ask which suburbs or areas to buy in, people never tell you.
‘All I ask is the chance to prove that money can’t make me happy’
Fat Tony, why should they? Of your 5 posts to this point, a few have been in relation to people telling you where to invest. I suppose if someone tells you where to invest, your next questions will be “what’s the vacancy rate” “what type of property should I buy?” etc etc… seek and ye shall find… do the hard yards yourself, and you’ll be much better off. There’s a ton of information on these boards and http://www.somersoft.com.au spend some more time reading.
cheers
rSo can anyone tell me what PropertyInvesting 101 is PLEASE!
Very well said Redwing [^]
May I ask you for your permission to print this and use it to help me obtain my goals??
Regards Bear
POSITVE CASHFLOW properties and Joint Ventures available!
For the BEST deals register via E-mail [email protected]
DONT MISS OUT!!!!!Dougall
Just read the intial message on this post by redwing. It has a list of 24 points about property investing. Henry Kaye was charging $15k to tell people these points.
Originally posted by Dougall:So can anyone tell me what PropertyInvesting 101 is PLEASE!
Dougall,
In the US, courses are given a number and 101 refers to an introductory course. Therefore, Property Investing 101 is a basic introduction to Property Investing. “101” has become a colloquial expression to anything introductory.
Hope that helps.
Shushar
“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney
WHAT I HAVE LEARNT FROM THE FORUM..Update
1/ If it sounds to good to be true, it probably is.
2/ Risk + Effort = Reward
3/ Make a Plan and stick to it.
4/ It’s amazing what you don’t know, be open to new ideas and others views
5/ Do your “due diligence” ; research and evaluate the potential of your deals, assess the pro’s and con’s and make an ‘informed’ decision. One thing this site has taught me is “Researching your purchases is paramount”.. it’s no good buying a + Geared property in a one horse town if the horse then leaves
6/ My maths teacher was right, it ‘does’ come in handy.
7/ Protect your asset’s ( Trust’s, insurance )
8/ The earlier you start, the better ( Look at Still In School )
9/ You make your money on the purchase, not the sale !
10/ Remember – The main aim of property investing is to find and acquire properties that have the ability to generate long term capital growth ‘and’ consistent rental demand and income, you should always be on the lookout for properties at a discount to their real value…
11/ Aim to create a ‘Passive Income’.
12/ Build your asset base
13/ Buy well located property, Value add and manage well.
14/ Be Pro-active – not Re-active.
15/ Land Appreciates, Buildings Depreciate
16/ People choose to live in an area for its:
*Proximity to Schools
*Security
*Public Transport
*Proximity to Shops
*Availability of Employment
*Recreational facilities17/ Get A depreciation schedule conducted by a QS
18/ Take out Landlords Insurance and have a contingency ( Emergency fund )
19/ Be ‘Prepared’ to take advantage of deals when they appear, he who hesitates is lost !
20/ Assets + Time = Wealth
21/ Ask Questions and seek knowledge, others are prepared to share it.
22/ Scepticism is Good Cynicism is not.
23/ NO RISK = NO REWARD
24/ Build a TEAM
25/ The Best deals are not always on the internet- get out there..
Anything to add people ? how about on the financial aspects ??[
]REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
26/ Have your finances in place before you sign the dotted line
and
27/ Never have all your property tied up with one lender, shop around or better yet have a broker shop around for you
[
]
Mel
[email protected]Thanks Mel [:X]
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
28/ Don’t give the bank more security than what they need. No point losing more than you have to if things do go wrong.
Fortune Favours the Bold.
1/ If it sounds to good to be true, it probably is – but make sure you get out there and check it out anyway – it could be a gold mine![
]Cheers
Mel
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