Hi, I’m new here (no waving smileys?)
I just finished reading ‘0 – 260+ Properties in 7 years’ – well, I should say stopped reading. I got up to about chapter 15 when I started feeling just slightly overwhelmed [blink]. I’m interested in property investing, but the book seemed to be directed at people far more serious about it than me. Obviously the ultimate goal for the target audience was financial independance, which is why the book seemed to imply that people should be monitoring their properties constantly and sell at the first sign that their wealth wasn’t being maximised. But I wouldn’t mind actually working for a living and investing on the side, as a hobby. That way it wouldn’t matter if I wasn’t getting every penny out of it that I could, just as long as I was getting more than I otherwise would have. And I was wondering if it could be done that way, or is it an all or none type thing. Can you still invest successfully with a full time job?
Anyway, this looks like a [specool] site, and I look forward to making new friends here regardless (no hugging smileys either!)Firstly, welcome to the forum.
Nothing stops you from property investment on a part time basis. In fact most people do it that way until they are able to generate enough cash flow for financial freedom.
What you have to do is to use LEVERAGE, that is, build a team of experts around you that can help you achieve your property investment goals. You will need to do the hard yards initially to set up the structure and team but after that you should be able to do it on the side.
You could use companies like positiverealestate.com.au to find properties that meet your criteria and inform you.
Hope this helps and good luck with the investments.
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
The short answer is yes you can.
But you have to be committed to what you are doing. The fact you stopped at chapter 15 and didn’t finish the book makes me wonder how interested you are in the process though. I haven’t got the book handy, but you couldn’t have had long to go.
Remember that book is only one book talking about one path to an objective that steve had. your objectives and goals may be different. It may be that you want a career in whatever it is you do and you want to supplement your lifestyle with x amount over a period of time to achieve an outcome that you decide.
It is harder though when you are working full time. we both work full time and have been doing development on the side and sometimes you have to be willing to come home and spend hours doing your filing, putting things in place so that you can organise everything and have it done.
So the answer is yes, but write down what your objectives are first. There’s no use doing it for the sake of doing it.
It is not a competition. It is not a race, or “how many properties have you got?”
Everyone has their own goals and preferences. Find yours, have fun, and above all – make money!!Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Hi,
Unless you bought property 5yrs ago when it was still possible to find cashflow positive properties you will most likely find that you will have to work full time to maintain the repayments on the loan because it is VERY unlikely you will find a property that pays for itself and can allow you to stop working.
I personally didn’t find Steve’s book hard to read at all. I was actually slightly offended at how easy he makes property investing sound and his simple examples that simply don’t work in the real world. It just gets me annoyed when he says buy a house, it will go up 10% every year blah blah blah and it 6 six years you should have a portfolio worth over $1million dollars.
Anyway, good luck with property investing but be very careful to make sure you do your due diligence and check numbers on everything.
Cheers
Paul
hi
i was in the same boat
i’m just getting started as well
and i thought this property investing thing will just be like a part time thing. obviously i would have to keep my full time job so i can afford investing in the first place.as long as you have to have a passion for it. or else after awhile, you’ll loose interest. it definitely takes alot of dedication and sacrifice to keep doing the research, inspection, due diligence, reno, etc. if you’re lucky , you’d have enough money to pay someone to do all the hard work, but personally i’d rather find out for myself and that way i’m more confident in my investment.
oops, betta stop rambling![blush2]
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