Im new to the forum and new to investing in the property sector.
Going back a couple months I nearly outlayed my savings into negatively gearing property and im so glad I didnt.
I only recently through an information seminar found out about all the creative finance strategies.I am going to do one of the bootcamp type seminars on the strategies/creative finance.
The thing that strikes me though is that the strategies certainly seem to have lots of merit and will work but im concerned about starting out.
Is there some community/network as such where I can be mentored/coached with starting out.
ie help with sourcing sellers and buyers? Then the subsequent help that follows until I gain competency in the process.Which creative financing strategies are you talking about? Different mentors and coaches exists for different investment strategies. But they aren't cheap. If you don't have a lot of money then books and seminars may be better for you than a one on one coach.
Ryan McLean
CashFlow Investor
Top 10 Positive Cash Flow Books ReviewedRyan McLean | On Property
http://onproperty.com.au
Email MeWraps, Lease options, Rent to Buy etc
Im keen on doing a seminar which I will get to soon but not sure what after seminar support I can get.
Just wondered if there was a community of people that helped each other out to get the best and most out of people.There are PLENTY of places that will take your money to mentor you.
There are MANY ways to make money in property (as you are discovering). You need to decide which strategy YOU wish to use first.
THEN spend all your time researching THAT strategy. You can't do them all effectively.
Personally I think you need a basic understanding of simple buy and hold before launching into other areas. Wraps, lease to own etc can be tricky legally. So you DO need some handholding with those.
Why do you need to use "creative" ways? What's the matter with "normal" ways?
Hi Thanks for all the feedback etc,
I understand about having a defined area to work with and a set level of skill sets and I understand the legal issues with paperwork.
I havent wanted to mention names as such incase its seen as spruiking or anything but im looking at doing the Rick Otton course, both HomeStudy and Bootcamp.Im not new to investing as such but new to Property.
Im heavily invested in the stock market at the moment and the main portion of that is Buy & Hold.So as for research and sticking to one strategy or a few strategys in line with one another, of everything ive heard thats positive cashflow, the strategies as promoted/taught/sold by Rick Otton most definitely appeal to me.
Hi Zac,
Most of the stuff here is from personal experience. We've done over 120 property transactions including such things as installment contracts, rent buys, second mortgages, renovations, wholesaling, flips, delayed settlements, joint ventures, private money lending, and rentals. If I had my time over again, I would first establish WHY I was doing it … Because we had a hard spot pushing through so we strongly advise for you to get to know the reason why you are doing it. Turning back the clock, also consider a property strategy that is more ALIGNED with your lifestyle. Case in point, wrapping is like long-term property management business. In very simple terms, at one stage we had 46 properties under management which was a strain. Second mortgaging and flipping more appeals to me as it is fast, efficient process. When trying to find a property strategy that aligns with your lifestyle, I would suggest reading Steve McKnight's "0 to 130 Properties in 3.5 Years" as it gives you a roadmap and the pros and cons of each strategy.
In relation to the presenter you want to see, do a search on this name and you'll be surprised at the amount of tools, tactics, and strategies he discusses freely online on YouTube and also, I think, on Facebook.
Well, hope these all helps.
Regards,
Sherry and Jason
Deal Maker | Great Property Deals
http://www.greatpropertydeals.com.au
Email Me | Phone MeYour Private Off Market Property Acquisition Specialist - Forget Buying Through Real Estate Agents
Hi Sherry/Jason,
Thanks so much for your advice.
As for the presenter, ive actually got an audio of his complete 3 day bootcamp, so about 20 hours of audio going through all the strategies.
I was going to Buy & Hold property but negative gearing doesnt appeal to me.
The idea of being a go to or middle man and helping people engineer a solution appeals to me.
I understand the theory and systems do work but from a practical point of view even when ive done a bootcamp/course I still feel id need guidance in doing the practice.To begin with I think the joint ventures appeal to me the most as it seems the most logical to commence with. Further on the rent to buy or lease options come across as sound and in line with what I think I would be able to achieve.
Hi Zacspeed,
Have a chat with Paul Dobson | Vendor Financier – http://www.negative2positive.com.au | Ph: 0447 973 235 | http://www.jvpropertypartners.com.au | http://www.vendorfinanceinstitute.com.au … Give him a call and see what he can do for you. If you have read a lot of his posts, he is extremely knowledgeable and I think he might be of help to you along the way.
Regards,
Sherry and Jason
Deal Maker | Great Property Deals
http://www.greatpropertydeals.com.au
Email Me | Phone MeYour Private Off Market Property Acquisition Specialist - Forget Buying Through Real Estate Agents
Thanks so much for that, I'll most certainly give him a call.
Cheers
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