Help With Direction

Hi Ty,
Welcome aboard !! It is great to see a young’un getting into this kind of thinking – and very smart to seek out “those who have done it”. It took me FAR more years than that before I received a “whack on the side of the head” thanks to Robert Kiyosaki and his “Rich Dad, Poor Dad”. I totally recommend that book to all young investors (especially ruminate on Chapter 2 – it is one of the “key tenets” I reckon).

After that, spend time and a bit of money buying a few books, just to get into the fundamentals of property investing – Steve’s and Jan Somers’ books have a lot of “how to” information in them, along with a very good general knowledge of all sides of investing – financing, property, tenants, taxes, etc.

And be a sponge on here too – just by reading a host of the different questions and answers, you will quickly get to learn which things tend to be “problem areas” as well as those things that just “work”.

Do check out the following link for a few “getting started” hints (answers to questions you may not even know you have yet):-
https://www.propertyinvesting.com/forums/general-property/4349450

And go along to some of the seminars (the free, or well-priced ones – no need to spend a fortune right up-front). Meet up with investors who are planning meet-ups in your area, just to have a coffee and a chat. Spend a few months doing an “apprenticeship” before striking out and buying. It is important that your first buy is a GOOD one, so that you don’t burn a lot of your deposit money. Don’t be rushed the first time in – share a heap of information on here and we will rush to support you, or to warn of any possible issues.

Great start !!

Benny

Hi Ty,

Details for the meeting:

Thursday 25th August, 6.30pm
Seven Stars Hotel, Angas Street

No need to feel overwhelmed, as we generally have a good range of people from complete newbies, to very experienced players, young and old. :)

Besides reading up on the books which help with forming a strong investor mentality, have a think about what you are trying to achieve with investing. Are you looking to make a passive income, or generate a large asset base which you can sell later. Are you looking to develop, renovate, buy and hold. It is extremely important to try establish a strategy early on, that way you can set a goal and work towards it step by step. You’ll no doubt find your strategy can and will change 10 times over the course of your journey, but that just means you’re refining and perfecting it – so long as you’re always moving forward not backward!

Let me know if you’re interesting in coming along, and I’ll let them know to put a +1 in the reservation.

Added you to the list. :)

I find the easiest way clients establish their strategy is to find their goal and work their way back. If you know where you are currently (start of the journey) and the goal (end of the journey), it’s a more manageable case of working out the easiest way of going from Point A to Point B. It’ll all come to you as time goes on and you grow your knowledge.