All Topics / Help Needed! / The basic principles of real estate investing in a

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of ibis69ibis69
    Member
    @ibis69
    Join Date: 2006
    Post Count: 18

    [thumbsupanim]I want a no holds barred no bull<edited> beginners helping hand start in understanding the basics of real estate investing before i go further and read anything else CAN ANYONE HELP ME with this?

    Where do I start?

    please tell me

    Profile photo of AmandaBSAmandaBS
    Participant
    @amandabs
    Join Date: 2005
    Post Count: 549

    Welcome to the world of property investing.

    There is no Get-Rich-Pill you can take, but you will need a strong desire to succeed. To be successful in property you really do need a good system in place, so my advice would be to follow our 7 step process.

    Step 1 Set your financial goals
    Step 2 Prepare a budget
    Step 3 Set an investment strategy
    Step 4 Build your team
    Step 5 Start researching
    Step 6 Prepare a Feasibility study
    Step 7 Negotiate the deal and repeat!

    ……..Oh and keep reading, knowledge is power!

    Best wishes,

    AmandaBS
    http://www.propertydivas.com.au
    FREE online Property Resources

    “It is better to be inconspicuously wealthy, than to be ostentatiously poor…”

    Profile photo of ibis69ibis69
    Member
    @ibis69
    Join Date: 2006
    Post Count: 18

    [suave3] Thank you for your reply and I have had a quick look at the fast track 2 DVD site and about to check out your site as well but once again ,I feel i need the basics to start with:–

    !) understanding the basic principles of real estate
    2) understanding real estate lulls and highs property cycles
    3) being able to read the market and understand whether I am buying in at a high or low in property prices?

    etc etc then from there I will be able to start reading all these posts and the other good stuff,,,,,I have read Steve Knights 0-130 properties book btu they are all strategies books not basic introductions books that is where I am at now and I feel positive about starting at the beginnign and having a solid base understanding before continuing.

    Many thanks

    Profile photo of danielleedaniellee
    Member
    @daniellee
    Join Date: 2006
    Post Count: 197

    Hi, Ibis

    When I started learning about RE investing, I bought the Australian Property Investor Mag and went down to the local community library and looked at their RE investing section.

    Many of the available RE investing books in a community library talk about the basics of RE investing as well as intermediate RE topics.

    My advice is to start reading lots and after a 2 – 3 months, you will start to understand the basics and more. Of course, continue to check out this forum!

    All the best.

    Regards
    Daniel Lee [specs]

    Profile photo of CrownCrown
    Participant
    @crown
    Join Date: 2006
    Post Count: 1

    Hi Ibis69

    I think the important thing is to start SOMEWHER, ANYWHERE – and then you will see what it is that you know, and learn what you don’t know, and then realise there’s a whole lot more that you didn’t even know that you don’t know.

    However, what I’ve found is that I’ve been able to move forward and make corrections as I go, once I got started.

    A great beginners resource (that I found) are Steve McKnight’s books.

    Best of luck, and enjoy the journey.

    Crown[cowboy2]

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.