Hi Everyone,
First time post and new to property investment. Im currently 22 and will be finishing my undergraduate studies in mid 2009. I will be then working in Newcastle, NSW for my graduate position earning $60,000 per year. I've been in investing in shares for a few years now, but without much luck I must say. After reading Steve Mcknight's 0 to 130, I've decided that I should be property investment a try.
What advice can the vetrans of this forum give me? I'm planning to purchase my first investment property in Newcastle in 8 months time (when I graduate). Still a long time away, but I guess I could get myself prepared.
Hi Lucky86,
When we started out, we spent 6-12 months reading as many different books on property investing. There are heaps out there…all different styles. Once you’ve read several, you’ll have a feel for what sits comfortably with you and you’ll formulate a plan.
Then in 8 months time, you’ll be much more educated. You can research the areas over the next 8 months at the same time.
Also look into first home buyers grant – you may have to live in the property for a while – but it may be worth it!
I listed several of the books we read on my blog as well as some of the early mistakes (www.MyFreePropertyDVD.com)
Cheers,
Dave
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