All Topics / General Property / Looking into Property Investment
G’day i’m steven and i’m new to all this. i’m 19 [thumbsupanim]and i want to look into property investment. i don’t know much about property investment and i really want to learn so get ahead[smiling].
what are the most important “rules” to know about property investment?
Are there any books that i should read?
Any help will be much appreciated.
Thanks in adavance Steve!!!
[specool]Probably the best thing you can know right now is ‘why’. It has taken me more years than I would have liked of piddling around with IP’s to come to that question realisticly.
I have 2 IP’s and neither of them were purchased because I knew ‘why’. As a result, one of them is a burden I am readying to unload, thankfully with a reasonable return and the other I have just realised recently has been an exercise in treading water for the last 2 years which I am also readying to unload with thankfully no harm done. Infact, the two of them have been a learning curve. What do they say — u need to make mistakes so you can learn the lessons.
It has not hurt me, this time and in any case I’ll live. However, understanding ‘why’ will mean the difference between a strategy and just a good reason.
My ‘why’ is that untill recently I have been preparing myself to work in a retail job that bores me stupid for the rest of my life. I am now preparing myself for the alternative.
I think I might be blabbing on a bit, but I hope something of what I mean comes thru.
Rakky ;P
Hi Roosterman and welcome to the forum, you will find a search function on this forum which will find you all the info your enquiring about. There has been some really good posts on books and have also been rated on there merits.
My advice is to type in the search function any key word your interested in and spend hours and hours reading the posts to get a feel for it.Regards Risky
If you want the rainbow youve got to put up with the rain!
Roosterman,
Propert investing is such a diverse area that you need to know what your goals are.
Do you want to go with residential or commercial or both? What strategy are you mostlikely to use, ie wrap, flip, buy and hold, +ve CF, -ve gearing etc.
How many propertieas do you want to own?
How many can you afford to own?
My advice would be to think about these things and to immerse yourself with readng. This forum has many great threads, especially in the archived areas. There is also a recommended reading thread in there, a book review thread, which is a great starting point for finding appropriate literature to read.Hope this helps.
J
Thanks heaps fellas, i’m reading a whole lot of stuff on this website and this website rocks!!!![thumbsupanim]
Thanks heaps for your assistance and i will enjoy learning all about PI.
Thanks again!!!
Steve!
[specool]
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