Funny enough the research only seems to make sense once you have applied it. I was reading a book by John Fitzgerald yesterday, and what he said wouldn’t have made sense to me before, but now I have actually done some property development it adds another piece to the puzzle…

I don’t think the average investor gives this (Property) industry the respect it deserves. By attending a seminar, typing on forums, and reading books etc, it provides you with 1% of what you need. What chance does the average Joe blow have of success? I’d say less than 5%.

Currently I am putting together a business plan, using our live data from projects, and applying the strategies and theories I have picked up through research and discussion. I like the theory of developing a working model and replicating it each year, with each additional year increasing the quantity. But unless you have real data, the plan, I feel would be no more than a “Pie in the Sky idea”.

To get to a reasonable investment position, I realistically believe it will take 2 – 4 years of solid work, and the skills you need to have will be more Project Management and Business qualification, rather than what you glean from property seminars and the like. It’s a tough road to walk.
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Thanks, although i wasnt adding it to make myself feel good (OK maybe a little) but more to try and say, hey hype about property investing is dangerous, and in reality you can lose a lot of money. If a council planner has a different opinion to you, a development block will soon turn into a negitve geared property, and you want to hope you have the cash to hang onto it, becasue with growth slowing it will take a while to cove your in and out costs. Same with the +ve geared property, there is a lot of traps and lesson that i have learnt for the sake of $50/wk +ve income!