My wife and I have read Steve’s books and are feeling very inspired.
I am after resources/insights/advice on where and how to start investing in 2017.
This year will be our first time investing. In order to decide which investment strategy is right for us given our circumstances I was hoping to get some advice. If anyone can help or point me towards some good resources I will be extremely grateful !
Thank You !
Shehan
This topic was modified 7 years, 7 months ago by Shehan Tambi.
There are a number of investment strategies you can follow to increase your net wealth but where you start will depend on your own investment goals and amount of time you wish to dedicate to your investing.
Whatever you do the main thing is to ensure your structure is sound and you have flexibility when it comes to financing.
The biggest problem with most investor clients is they do not set up their finances correctly from day 1 and then find themselves unable to move forward in a strategic manner.
Poor advice from Bankers or brokers seems all to prominent in an industry where professionalism is oh so lacking.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
My suggestion would be to read a lot, go to networking meetings in your area, talk with experienced investors, gather information, check out the listings and always keep learning. Be market ready so when you’ll find the right opportunity, you’ll be ready 👍😎
Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Hi Shehan as others have stated I would do plenty of research and networking to develop a strategy that suits your goals. Once you have developed a strategy then you can work out the type of properties you want to target.
There are a number of strategies you need to get your head around and learn how to apply them to your circumstances.
Property strategies listed below are commonly used in Australia. They may overlap depending on how you apply them to your personal circumstances, goals and risk profile.
– Home ownership
– Buy and hold real estate
– Negatively geared property (capital growth strategy)
– Positively geared property
– Cash flow positive property
– Buy property to renovate
– Partnerships and syndications
– Property subdivision and development
Which property strategy is best suited to you will depend on your goals and unique circumstances. Each person is different and you cannot follow other people’s footsteps because their strategy is tailored to their goals. This why it is so important for you to be educated in the various types of strategies and align them to your personal goals.
Understanding the inter-play of all these strategies will give you the foundation for sound decision-making.
Your property strategy and buying criteria may also include decisions about whether to buy:
– Capital growth or rental yield property
– New or an existing property
– Apartment or a house
– Off-the-plan property or buy a completed property
– Low-priced or high-priced property
– Custom build, house and land or existing property
There are also a number of complementary strategies that you need to take into account when buying properties.
– Mindset strategy
– Education strategy
– Ownership strategy
– Finance strategy
– Debt reduction strategy
– Tax reduction strategy
– Asset protection strategy
– Contracting strategy
– Exit strategy
– Retirement strategy
You can also read my reply on getting started here.