I am wondering the best way to get started in property development and investment. Can anyone recommend a good book or website?
Many thanks.I guess firstly you should understand why you are getting involved in property and what you are trying to achieve through property, becuase as you move forward you will come across a number of different strategies.
Let me start by suggesting that if you are only beginning – then don’t consider property development yet- if you have to ask these questions then you aren’t ready for development which has higher rewards, but considerably higher risks.
I suggest you begin by educating yourself – reading good books and attending seminars.
There are a number of threads on good books in this forum but I would humbly [blink] suggest you purchase:-
How to Grow a Multi Million Dollar Proeprty Portfolio – in your spare time.
As the author I am biased, but it is Australia’s currect best selling property book – you can get it at all good book shops or at http://www.PropertyUpdate.com.au/pages/Book
There are lots of ways of achieving wealth through property so you will hear or read differnt strategies.
Make sure you listen to people who have not only made money through propertty but have been in proeprty for a while and managed to retain their wealth through a few proeprty cycles.
Don’t get caught up in the latest fads. Buying well located properties and holding them for the long term is a sound strategy that works well. It laso helps if you buy properties to which you cna add value.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 15,000 readers each month.
FREE subscription http://www.PropertyUpdate.com.aubuy the magazine australian property investor as it has bookslisted that you can buy in the back pages of it
Try ‘Margaret Lomas’ books. They are very good. Don’t limit yourself to just her strategies though.
You can also get a very affordable property investing course from http://www.untoldwealth.com.au/index.html
Also check out my own website and blog which I hope will help you as well.
Todd Burns
http://www.freepropertyhelp.com.auIf you don’t have any capital to get your first property. There are 3 lenders I know of that do 106% finance. Which covers almost all your fees and charges also.
Banks have also release products that don’t require genuine savings. There fore you can receive ‘funds to complete’ from gift, borrow, family equity and more.
Other ways to get in to property are using ‘no money down deals’ which I believe there is a topic about that on this forum.(try a search)
Happy Investing
Joshua
Multiple Property Strategist
Investor Finance
[email protected]Like Michaels post, this is also biased.
I think the best way for an investor to start is by doing “safe” investments to begin with. Buying good properties and buiding in equity AND cash flow using lease options.
Surplus cash flow can be used to fund higher growh properties giving you a balanced portfolio that is not dependant on your income.
Investment Property Management
http://www.adprop.com.au
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