If I were to enter the world of investing i would be a true beginner. I would really like to hear stories of those who started out as true beginners, that is really not knowing about investing when they first started and how you have reached the point you are in today. I dont want my job to be the only way to earn money. I know investing in real estate can reap great benefits, but im just not sure how to start. Any advice would be greatly greatly greatly appreciated.[cap]
Missa,
Its great that you are looking to increase your earning opportunities through investing.
Take your time to learn as much as you can (that is why I am here) before you put down your hard earned cash. I feel that with the market the way it is (just after a huge boom), rushing in could be dangerous, I don’t see that you will miss out on any great profits if you take some time to get to know the property market.
Where to from here?:
-Reading posts on this site is a great way of learning the ins and outs of property investing.
-You can’t read enough on the subject. Have a look at any bookstore or library on investing.
-Look in newspapers and online at property sales sites. Get to know a market, learn what to look for and eventually you might notice properties that the price tag may not fit.Good luck, take your time and don’t lose your enthuiams.
RhysHi Missa,
As you start looking into investing you will find a whole new world out there, and if you are anything like me you will be inspired by how much is out there for the taking.
I was in your exact situation a couple of years ago and since then I have been researching and re-educating myself for my new path in life (no more rat race).
What I have found works is to sit back and come up with a plan and some goals for where you want your life to go and then set up your investments around this. This may also require some lifestyle changes, especially with the way that you think about/spend money.
Find out as much as you can about your investment tools (property, shares etc) until you are comfortable in putting your hard earned cash into them and try and keep the momentum flowing.
The biggest problem that I have had to deal with is confidence. It can all get a bit overwhelming sometimes as you are continually extenting your comfort zones, so I have found that you have to really want it and just take the plunge, but make it an educated plunge.
A book that I would strongly recommend is Wink and Grow Rich, also the Richest Man in Babylon is a good starter. Oh, and Steves books of course!!
Hope that helps and all the best
Rob
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