Hi.
I have been critical of expensive courses.
Then it dawned on me that in my journery of discovery in property investing that I did one day buy a study at home course while working in the US. It was back in 1999.
My jouney of discovery was as follows;
1. Back in 1995 I bought my PPOR – a 2 bed unit in bayside Melbourne. Sick of paying rent.
2. In 1997 I bought an investment property. A 2 bed unit in bayside melbourne as an investment. No courses, just thought it was a good idea as my parents before me had built an investment property.
3. In 1998 – Got transferred to San Francisco – saw high cost of housing and rents. There was a guy on a late night TV infomercial talking about owning many properties for ‘No money down’. His name was Carlton Sheets. I bought the study program CDs etc. Cost me about $600. There was alot of CRAP (sure you can buy ‘no money down’ if the property is in one of those no go areas common in the US) but it did teach me that you are allowed to own more than one investment property.
4. I then read as many books as possible. All of Somers firstly, then anything in the library. And subscribed to Aust Property Investor Mag. Even got them sent overseas.
3. In 2000 I came back home – I purchased a few more properties.
4. In 2002 I bought another property.
5. In 2003 I discovered this web site. It has now taught me that positive geared properties in country areas may not be that BAD an investment. But honestly the jury is still deliberating for me on this as the boom can hide alot of problems.Anyway thats my jouney of discovering property investing. I know there are many at different stages, some just started, some more advanced than me.
Anyway I would love to hear where you are all at on this journey of discovery.
Yack, mine was more of a necessity. My IP was originally my PPOR, until I met that “special someone” and we moved in together.
I placed it in the hands of a RE agent to manage. First tenant was a bloke I worked with – not a good idea at all. At about the same time I heard of man by the name of Kiyosaki doing seminars. With my girlfriend, I flew to Sydney ( I live in Alice Springs ) for the seminar. Had a great weekend as well.
Then I heard Steve McKnight talking on Tony Delroy’s night life one night at work. Bought the book the next day, found this site, and have had “the bug” since. Almost bought another property this week, but email was a bit slow.
Plan on buying again soon.
Just my 2 cents worth.
Cheers
“Looking forward to the day when I can tell the boss where to go”
Hi Yack and Myydral
i started investing in 1997, sort of out of neccessity. I had just finished 4 years of studying at at Bible College in Melbourne and had started a job as a school chaplain in a country town called stawell. The job was for only 4 days a weeks so i needed to make some extra Cash (as we had 3 kids at that time). I had been investing/trading the stockmarket for a few years but was surprised to discover i could buy properties for 30K that would rent for 100pw. My net worth was only 25k at that time so with the help of loans from mum (which i quickly paid back) i bought 10 homes in 12 months. It seemed such an obviously easy way to make money yet no one was doing it, so i was a bit worried that perhaps i was missing something and could be setting myself up for some big financial problems, so i stopped buy homes.
Then i read Robert Kiyoski’s Rich Dad Poor Dad. As i read this book i became more and more confident that i was on the right track and i decided to get more agreessive. Luckily the market had moved up and i started to refinace and use the money for more deposits. By March 2003 i had 25 properties, at this time i realised that i couldn’t buy homes that gave me the return i wanted.
Then i had another major event in my investing live. I discovered that in New Zealand i could find exactly the returns i was after. I then started selling in OZ (properties that had tripled in value) to finance my buying in New Zealand. About July last year i realized that i didn’t need to work anymore so i thought it would be fun living and investing in NZ for a few years. In Dec 2003 the family moved to NZ, today i only have about 12 properties in Oz and about 20 in NZ (i’m still buying here).look forward to hearing others stories.
(in fact i would love to put a book together and make it available to others on the forum, if you want to contibute your story in about 10 pages email me, i’ll give you some guidelines we can then send out an e-book to those who would be interested, i would like to make a charge for this book of $15, this money can be sent direct to my nominated charity which will be “opportunity international”). Anyone interested email me at [email protected]regards westan
Here’s the link to Westan’s charity:
By the way, westan- amazing you’ve become a property millionaire- good for you, mate!
kay henry
Ok. I am a little surprised by the lack of responses.
By posting on this site we have discovered property and are on our journey.
My question really is – at what point did you really get excited about property?
Did attending a particular course get you going or reading a particular book or did you just fall into it?
Well, I guess I’m at the other end of the spectrum compared to people like Westan.
A couple of years ago, a friend of mine quit his job in IT sales and went into property investing. I don’t think he’s got to where he wants to go yet, but he has between 10-15 properties (that I know of) and has also done some developments in Qld. He is the one who really sparked my interest in IP’s and has helped his mates out with a few investments, all of which have been very positive. That was easy becuase there was a bit of a safety blanket effect. I had faith in his knowledge of the market. Now its time for me to learn & learn & learn so that I can do it on my own.
I know it sounds strange, but it has taken a lot of time to build up the courage to go out and buy a property. Why? Because, like all of you, I see the value in +ve geared IP’s and have started to look in regional VIC. Not knowing much about property to begin with, its even more scary moving out of the Melbourne comfort zone.
So thats my story thus far. I’m at the stage where my excitement about IP’s is just reaching boiling point and I am hoping to start my journey with my first IP in the next month [thumbsup2].
Wish me luck!!! [worried]
Cheers
Matt
I read the book: “if you want to be rich and happy, don’t go to school”, it changed my life. I knew at that point that I didn’t want to be an employee. That was the moment I commited to becomming a professional invesotr (i.e. someone who dosen’t have to rely on a wage).
Rgds.
Lucifer_au
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