All Topics / Help Needed! / Calling Those With Experience

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  • Profile photo of CypherCypher
    Member
    @cypher
    Join Date: 2007
    Post Count: 1

    Hello, I am a kiwi with an unrelenting determination for property investment. Now, I've decided is the time to pull the trigger and put my intentions to action. With all things, I know that you need at least the basic knowledge of what it is you're doing to have any success with anything. I've started reading Steve McKnights $1,000,000 in Property in 1 year, and I'm also hunting for his previous book at the moment. More than just reading up on books and information though and becoming a guru of knowing (and inaction), I would like to know of the most important, and specific areas of investment that I should be reading up on and what the best literature or sources of information is on this. I could read a million books on property investment alone, but I need help from the seasoned experts on what practical information I should be referring to in terms of specifics such as legal systems, and the expenses that go along with buying and the closing of sales, advice on the best way of calculating deposits, OPM,  how to read a propertys value, re-valuation, and most importantly – anything I haven't mentioned that is of importance that I am obviously unaware of. I want to understand Investing like you would understand a language, I'm aware that the learning is endless, as it is with anything, the fluencey of understanding is what I'm striving for. My real questions is, what specifics (for a pre-newbie investor) should I turn my attention to understanding? I will read a million books on investment if I learn something new from each, or cement the fundamentals that reoccur in each. What I need to know above all is, what are the areas of focus most important to anyone investing in property? – so that I can save time on reading material that may be irrelevant, and concentrate my time and energy into a strong effort. What is most relevant? Property is my first choice for investing and what I'm here to be schooled in but I'm not afraid of Shares or Business either. I'm looking to raise my awareness from that of the unaware and inexperienced to the aware and experienced. Any help, references to books, websites, or threads on this forum would be highly appreciated.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    If you are a keen reader and want to do well in investing and business I would suggest you look at some tax books and some law books (contracts, Trusts, Company law, Land Law etc). You can go into the uni second hand bookshops and pick up some slightly out of date textbooks very cheap – I got one on Trusts the other day for $5!

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of ozsparky200319117ozsparky200319117
    Member
    @ozsparky200319117
    Join Date: 2003
    Post Count: 65

    HI cypher

    I would also recommend that you read Michael Yardneys book 'How to grow a multi million dollar property portfolio on your spare time' available from his web-site http://www.propertyupdate.com.au

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