Ellieguinn, I just want to wish you the best of luck with this endeavour. Trust your instincts and rely on the advice and training that you received. And never forget the valuable lesson learnt previously.
Reistar,
Is it just me, or do you reek of spam? Every comment you have made in the past hour is just to advertise you "hands free" deal attraction method.
Ellieguinn, seems your thread got hijacked by the regular doom vs gloom discussion. Some quick suggestions:
(1) do not rush into anything, take your time, if you believe in residential property as a wealth creation vehicle then there are always good deals to be had, again take your time.
(2) save, save and save and live below your means until you have a serious buffer in place. Make a budget if you don't already. Personally, I really enjoyed reading "The Millionaire Next Door" by Stanley and Danko which truly highlights the power of living below your means.
(3) Before you put money into an investment, property or otherwise, seriously consider having several months (3-6) of living costs in an emergency fund so that you're not forced to liquidate an investment (of whatever type) too early just to solve a cashflow problem
(4) in my view, wealth is a function of money, time and health so don't sacrifice time and health in the pursuit of money, at least not too long otherwise your wealth will not make you any happier.
(5) if you're planning to get into property investing read some books like Michael Yardney's "How to grow a multimillion property portfolio in your spare time", Steve McKnights "0-130" and "0-260" books, books by Jan Somers etc. Don't buy them, just get them from you local library!
(6) if you're unsure about selecting a property, consider using a buyers agent, I can't recommend any, but I do believe that a good buyers agent can be of real value, especially to beginning investors – maybe ask around on this forum for experiences…
(7) for property wise I would suggest you consider something in an up and coming suburb in some of the major capital cities (e.g. Melbourne, Brisbane, Adelaide, Sydney, …) or a large regional city with a diverse economy. There are good research reports out there, e.g. at hotspotting.com. Look for something you can add value to by renovating (avoid anything with structural issues) and is close to transportation, employment, schools etc.
Hi Erik,
Good on ya for sharing some nice pointers. And thanks for sharing the hot spotting site! – I should mention it's http://www.hotspotting.com.au/ and not hotspotting.com as this directs you to ebay (for me anyway), go figure.
By the way, I had a look at your site recently, it's coming together nicely
Cheers mate
Freelance, thanks for pointing that out, I always struggle to remember which sites are the .com.au and which are just .com …
I have bought several of Rerry Ryder's reports over the last couple of years and think that for the $90 you pay you get a lot of value and as an overseas investor who only gets to come to Oz once a year on an extended annual leave break it really helps me to focus my research.
Thanks for you comments on the site, if you ever have any suggestions / comments on how to improve or what to include, please let me know!ErikH wrote:Thanks for you comments on the site, if you ever have any suggestions / comments on how to improve or what to include, please let me know!Sure! I think your search bar should be placed at the top on all pages (like PI.com) as it's a convenient place to have it. Most users when they can't find what they're looking for won't bother scrolling all the way to the bottom of the page to find a search bar.
I'm not sure if you're planning on putting any content in the "Property Investment" & "Retirement Planning" Tabs other than the secondary menu on the left. But It would help if you introduce the topics like you have done on the home page. Internet users can be impatient, so it's important you show them what they can do straight away, rather than expecting them to venture further than necessary.
Other than that, your content is great, and I expect to be a regular user in the near future.
Always keep in mind that a users experience is at their fingertips, if they don't like what they see instantly or have trouble navigating, you'll be sure to lose your 'customers' as quickly as you found them.
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