Hi all’
I’m just learning all things relating to property.
At 24y.o I’ve just sold my beloved car (that I spent enough money on to have had a large house deposit[
]) oh well time to grow up….Anyway i,ve just read 0 to 130 properties and Kiyosaki book rich dad poor dad and am wondering where to go next for reasearch books etc. What one that you have all readthT re good. Also are these confrences worth there money as $1000 takes a bit to save up and puts me out of the market for longer ( good for all you other investers, but bad for me []). Basically I have learn’t to wait untill after christmas to buy hoping for the marketbubble to decrease and intrest rates to go up hopefully forcing some to bail out, so i’m just after some tips and confidence before i jump into my 1st houseHi Paulee, in the meantime while your looking for an IP, i would suggest you find out, how much you can possibly borrow from the bank or if you want get a pre-approved loan. This way, you will then know how much you can afford and how much money the banks are willing to lend you.
hope this gives you an idea on were to start.
cheers
S.I.SHi Paulee,
I found “More Wealth from Residential Property” by Jan Somers a very good read – lots of worked examples to give you a feel for the figures.
And for balance, I did’t find “Your Investment Property – How to Choose it, Pay for it and Triple your Returns in 3 years” by Anita Bell, to be helpful to me. I found it too general.
Swampy30I hear trust magic by dale gatherum Goss is a good one to read, yet to read it but will hopefully get it some time soon. MIght give you some ideas about using trusts if you’re interested.
The Wakelins have written a book streets ahead, mainly about neg gearing but it was about 3 stars (out of 5)
I’ve just bought martin roths book about comercial property but haven’t got round to reading it yet. Heard it was OK.
Personally I’d go with the books over seminars. I think some are a little too costly when you have little money to start with but then again you can’t put a price on knowledge.
You can loose all your money but you can do it all again as you can’t loose knowledge.
Josh
Josh
Hi Paulee,
Well, you have just shown me three lessons in your introduction.
Your topic already suggests that we need to crawl before we can learn to walk. You have foregone your car for the prospect of long term wealth. You are obviously savvy enough to form your own opinion about not buying until after Christmas.
Well done.
Arguments for and against aside, watch for another 0.5% increase in rates by March next year. Do not however use the market interest rates as your sole decision for investment. Weigh up the buy price, rentals, potential growth .. go for it.
All the best in your ventures, kind regards, Phil
[
]thanks all!!!! everythings a helpta.
Good on you for having the courage and forsight to sell the car and step into investing. You will do well.
I like the “Richest Man in Babylon” for a good easy read on some basic principles that we all seem to forget.
[]
]) oh well time to grow up….Anyway i,ve just read 0 to 130 properties and Kiyosaki book rich dad poor dad and am wondering where to go next for reasearch books etc. What one that you have all readthT re good. Also are these confrences worth there money as $1000 takes a bit to save up and puts me out of the market for longer ( good for all you other investers, but bad for me [
]). Basically I have learn’t to wait untill after christmas to buy hoping for the marketbubble to decrease and intrest rates to go up hopefully forcing some to bail out, so i’m just after some tips and confidence before i jump into my 1st house
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