Hello Property Investors – Would You Share Your Thoughts With a Newbie

Hi Kevin

Welcome aboard :-)

Start by educating yourself. There’s tonnes of books out there – and forums like this are a good resource too.

When you’re ready to roll – surround yourself with a good team of professionals. An accountant and finance person are a must.

Cheers

Jamie

Hi Kevin,

Do you really require a face to face meeting?
I find it that due to everyone’s busy life, doing transactions like this over the phone and email is beneficial.
Just need to find a knowledgeable and reliable person. Someone with a good reputation is a must as well. You can easily find them on forums like this.

Hi sciencesurf,

Apologies if my post made you feel that way.
I asked the question if face to face meeting is a must for the OP and then suggested what I would prefer. At the end of day, it is still up to the OP’s due diligence and comfortability.
A step by step explanation can also be done over the phone, email, Skype, FaceTime, etc. Technology is helping us with this.

And I agree, someone will get paid out of the process, but that’s the price to pay for employing their Professional services.

Not trying to enter an argument. all I’m saying is that in this day and age, you need to work smarter, not harder. Technology is there for us to use. Would you meet up a non property savvy professional who’s office is just 10 minutes away and listen to him explain things about property investing but is not an active investor himself, or FaceTime someone who’s been there and has done what you are trying to achieve?

Cheers!

Hi Kevin

Budgeting is the most important part of getting started with investing. Our incomes coming in are consistent but usually our spending habits are not consistent especially when it comes to every day living. You need to establish a budgeting plan, put it in place and then monitor this for a period to see what is a “true” affordable amount for you to invest.

It is important to establish a good relationship with your advisers as these are the people you will surround yourself with and put trust in. Whilst it is great to meet them face to face, you can also get a feel for them over skype as to whether they would be the right fit for what you want to achieve. Also, just don’t jump in. Do your research on them and what they say as there are some great sales people out there who promote themselves as advisers.

Hi Kevin,
as others have said it’s critical to get the setup right and to do this you need someone with lots of experience.
getting your loans etc set up correctly is crucial.

Start by reading forums. Get recommendations and go from there. I’ve used a few recommendations off forums. Some have been great, others not so.
Everyone is different and wants/needs different things.

Networking is also very important. Meet like minded people to chat about things. There are many meetups in Sydney. Go along to one. Most are casual. Some have guest speakers.
Look on meetup.com type in property or investments. There are a few others also. Message me if interested.
PS I’m not selling anything. just happy to help people get started.

Unfortunately you just missed one on 27th October.

http://somersoft.com/forums/showthread.php?t=84714&page=14.

I think they meet regularly. There are a few investors in Addlai de on that forum

Also Google meetup.com and type in property Adelaide.

Good luck. It’s great to network with others, its hat gave me the kickstart to get going.

I agree with Catalyst about meetup.com and finding a property investing networking group. These things are fantastic! That is how we found our broker. He is local and has been the difference between a deal getting over the line, or not. Interesting to note that the last purchase was completed completely over the phone/email so maybe I’m a hypocrite in some way.. But then again my point was about the importance of building a professional relationship to begin with, and that is assisted through a physical face-to-face meeting. Would you trust a buyers agent to purchase a property for you without a physical meeting? Same goes with finance as they are equally important and can cost you thousands in the long run.

A question for the professionals and experienced investors on this forum. Would you part with your money on a deal without meeting someone face-to-face?

And for the record @qlds007, my advice or website has never come with a pricetag. Building a community of like minded individuals and sharing information is what it’s all about.

Good luck