Anita Bell

[Ben]

Would any of you recommend the book by Anita Bell -

Your Investment Property: How to Choose It, Pay for It and Triple Your Returns in 3 Years "

Has anyone read this, it a good guide for new Prop Investors????

[geoffw]

I've heard that it could be subtitled "by a person who's only bought three". That maight not be right though.

Her philosophy to pay off all your IPs is very conservative. Many people in this forum may find that it's not the way they want to go. I prefer to put more money to more IPs rather than to pay off ones I have.

Jan Somers' books are up there with the best for new investors.

[asy]

Ben,

Perhaps lend it from the library and have a look at it...

That way, no financial outlay! If you find it is useful, and you will need to refer to it, buy it. At least this way you will get to test drive.

Also, as geoff said, there are lots out there, have a look on the Somers 'Books' Page to see what Jan has available!

asy :D

[Sunstone]

Dear Ben,

I have met her and like Geoff said I was not impressed.

Actually she only has two properties and yet she is trying to be a guru. In fact when she gave a small presentation she openly admitted that she was reducing her property holdings and getting into shares.

Is this the type of property person who you want to be following?

Again like Geoff and Asy you will do a lot worse then adding "More Wealth from Residential Property" by Jan to your collection. A good start for important basic principles.

Cheers,

Sunstone.

[Ben]

Thanks guys! Looks like Jan is the one!

[Jacque]

Anita may have only two properties but hang on, she's sold three books now, hasn't she? Are we missing something here?

I am not supporting her content (indeed I've only read half of her most recent book and have yet to comment) but is the no. of properties you've bought reflective of your knowledge?
Indeed, on this very forum, I've heard others argue otherwise- it isn't all about the amount of property you own, it's the experience and the enthusiasm you develop for learning along the way........

Just some thoughts anyway :)
What do others think?

[john doe]

I've only ever seen interviews with Anita on TV, plus read some comments she's made for "Money" magazine. At all times she struck me as very amateurish, hackish, boastful and vague. Some of the things she says downright made very little sense. An example of this is her saying she didn't think shares were worthwhile unless you made a whopping 70% on them. I mean hey, this would be nice, and sometimes you do pick that stellar stock for the year that outstrips all others, but expecting that from your portfolio year after year is expecting a bit much.

I'd never waste my money on purchasing one of her books.

John

[Mark Laszczuk]

In regards to Jacque's post. I own no properties (yet), but I have been told by a number of people now that they are amazed by how much I do know for someone who hasn't purchased anything yet. I would disagree with them, but hey, that's me.
I know what I know because of two reasons:
1. I read like it's going out of fashion. That includes books, internet, magazines, newspapers etc.
2. I'm not afraid to ask questions of anyone, and if they answer them that if fine. If they don't, that is fine too. Sometimes I will push and push until I do get an answer (usually this tactic is directed at so called gurus whom I am trying to get answers to hairy questions from).
Ya don't need to buy any property to understand investing...the theory side at least. But I tells ya, I'm hanging to get into the practical side of things and y'all will be the first to know when that happens.

Mark
'no hat, some cattle'

[geoffw]

Anita Bell's book may be OK for people who have read a little bit. They offer a different viewpoint.

But I would find it a little harder to recommend an approach which goes completely against the method which so many other people recommend.

If she went somewhat along the path of other people, I would not have much trouble with ther number of properties. But it seems to me that her method is actually inhibiting her growth.

She bought her first property at age 16, and owned 4 properties debt free by 29. Good on her for that. She most certainly must have a good system of budgeting for that. It may be worth while buying just for that. She may well have good tips for choosing properties and picking defects. Probably worth while for that.

But the first property was paid off in 12 months. I suspect that wasn't a top-of-the-range Sydney property.

If I'm after someone's advice on the forum about their experiences with loans, or advice on what to look for in a property, I don't care too much about how many IP's they have.

But I think I would want a good track record if I'm going to follow a full-on strategy from someone. And I'd be much more inclined to follow the advice of someone with a solid track record.

[bbruham]

G'day all,

I've said it sooooo many times on this website you'll be sick to death of reading it again. All the information you will ever need
is on this website!
I could list a dozen names of posters who you could call as your own mentors.
It would be unfair to name one without naming them all.
You only have to read their posts to access their intellingence.
Why you want to listen to all those experts giving free seminars
with strings attached.
I've read many books on property investment, all well written but
most have a motive for writing them in the first place.
Business for them, they're developers, real estate agents etc.
Stay with this website.

Bruce G.

[wbthom]

I had an opportunity to listen to Anita Bell at a recent expo in Melbourne and she was an extremely poor speaker who seemed very vague and more into trying to sell her books than help property investors. At the same expo I listened to another speaker - Margaret Lomas: and was very impressed with the depth of her knowledge. Even though she promotes her positive cashflow property philosophy she is much more open to alternate ideas than I found with Anita Bell.

Bill

[Bill.L]

A lot of negativety here in regard to Anita Bell! Perhaps people should remember that she is still doing better than 99% of the population in regard to property investment.
I'll certainly agree that there is more information to be gained from this site and the MSN property forum though. The books of Jan Somers, the Wakelin's, Margaret Lomas etc. may be better from the perspective of individuals here.
For the average, conservative, yet to buy their first property person, worried about 18% interest rates, worried about tenants trashing, worried about real estate prices crashing; it is not going to hurt.
I'm a great believer in education especially self-education and the aquisition of another book is always of benefit, even if I disagree with much of what is written, as it gives another perspective that can be referred back to when times/conditions change.

bye

[Ben]

Does anyone know the address for the MSN Property Forum????

[Andrew]

http://groups.msn.com/PropertyInvestment/messageboard.msnw

I used to visit a lot more, but since this forum was updated to the new
format the number of posts over there has died down a little.

That said, there is heaps of good info especially in the older posts.
Many of the really smart guys (you know who you are) visit both this
forum and that one as well.

The MSN group also has its own gurus who I haven't seen over here.

andy

[Les]

G'day Bill.L,

And thanks for including this:-

A lot of negativety here in regard to Anita Bell! Perhaps people should remember that she is still doing better than 99% of the population in regard to property investment.


Some people need to hear the message in a different way to others - and Anita may well "strike a chord" with a percentage of the population. I have just one of Anita's books - her style is not mine, but the thoughts in her book may relate to people in a different demographic to me.

Viva la difference' - and good on you Anita. You're "giving it a go" and (undoubtably) helping others in the process.

Regards,

[bundy1964]

Originally posted by john doe
At all times she struck me as very amateurish, hackish, boastful and vague. Some of the things she says downright made very little sense. An example of this is her saying she didn't think shares were worthwhile unless you made a whopping 70% on them. John

Some people make a good living like that....just look at a parlement or a listed company board.

I have chosen not to gear my properties as high as I could by my choice to suit my situation. I won't finish with the most toys and it doesn't bother me :)

If the market is right and I move the goal posts I may buy again and fast track the payments using 2 rents and living off 1 but that is a greed thing more than a need thing.

[bbruham]

G'day all,

I can't trust people who write books using toilet paper. Well maybe not toilet paper, but close to it.
My investment books are stored very carefully for re- reading. I feel that the quality of the book means something. A good author
users good materials.
I've never read any of her books. They (the quality of the book)
have no appeal at all.

Bruce G.

Two ears are more important than one mouth!

[BKH]

I have read 2 of her books ( borrowed them from the library) and found them quite vague superficial. Jan Sommers books leaves her for dead. I have scanned thru her latest and was not impressed by the limited information provided.

[geoffw]

After my unkind attitude to Anita's methods, MrsW came to me today with a proposal that she buy herself a cheap country unit, and pay it off quickly, as a buffer in case anything else happened. I think the amount owed, well over $1M and rising, is making her nervous- when our PPOR is worth $300K.

So the Bell method does have appeal to many. Even the most intelligent.

And it's certainly a method which would appeal to my parents' generation.

[Debra_L]

I found some of Anita's views seemed rather derogatory. ie:
"A lot of investors these days are using Interest Only loans to build their portfolios - and some are succeeding by luck, guts and a tightrope debt/tax management"

She also seems to have no concept of the power of compounding interest to increase the value of a "buy and hold" portfolio as seen by her comment "Too often (investors), they're sinking way over their heads in debt and paying twice what they need to, while they're chasing 'future projections of growth', instead of minimising debt and maximising profits to get ahead of the pack in leaps and bounds in the short term"

Also some of the advise she gives is a little dangerous as far as the ATO is concerned eg: "..... when lenders have special deals advertised on their new loans to attract new customers. Then seize the opportunity to restructure your debt to 'release any equity' from your investment properties (gained by natural increase in property values or by renovations/extensions/improvements) in order to PAY OUT AS MUCH OF YOUR OWN HOME AS POSSIBLE. Debt on your own home is not tax deductible, so shift as much debt as you can away from your own home, by paying it off or reducing it to a smaller and more manageable loan..........with that much extra debt now fully tax deductible on your investments."
She is forgetting that if the purpose of refinancing your investment property is to pay off your own home, then the extra borrowed IS NOT TAX DEDUCTIBLE.

Debra Lohrere

[Bear924]

Hi all,

I own and have read both of Anita's books in an effort to get as many perspectives as possible about investing. I found that the first book concentrates on budgets while the second continues to build on the theme from a investment property prospective.

Out of all the investment books that I own, these two books would possibly be the ones I'd 'loose' first if extra room was required.

However do find the repayment tables at the back of your mortgage helpful... however there are whole books for those tables and the internet is crammed with monthly repayment calculators.:)

[Kevmeister]

I own all three of the Anita Bell books (package price bargain).

I had already read Jan Somer's book and picked up the Anita Bell ones "sight unseen" for [hopefully] an alternative perspective.

Whereas I found a lot of knowledge in the Jan Somer's book backed up by examples and explanations, portions of the Anita Bell book are just "dangling in the breeze" with no justification.

I have to admit I didn't read the entire book because I found the writing style grating. Often meandering rather than to the point, often using bizarre examples. Often making claims but not substantiating it with good reasoning. But most of all, I don't know how many times I read "stuff" that virtually amounted to "bragging".

I agree with bbruham about the quality of the paper her books are printed on - should have been a giveway that these were a cheap book with relatively "cheap" content.

Anita Bell nonetheless deserves to be admired for what she has achieved for herself (another contributor to this thread correctly notes she is ahead of 99% of the population).

I think there are better books to spend one's money on, by a long shot.

[Rolf Latham]

Hi All

Is it the 25 bucks ?

One idea or one line that is useful to you has to be worth 25 bucks ? There would be NO book that I have read that was not worth its purchase price many times over.

If its time then as to worth reading then thats a different issue, but again to reinforce Les' point, different people will relate to different message styles.

While personally not impressed by the structuring and finance models presented, I am impressed by the "can do" attitude.

If nothing else, for those that have seen her present or are not impressed by her style, that should give all of us hope. I do believe she is targetting a different group than hang around in here :O)

ta

rolf

[Nicko]

Dear guys,

Please be aware that people who write books on property investing etc are trying to make their money from publishing (and the seminar circuit!) and not property investment!

Margaret Lomas takes commisions for the cash-flow properties she recommends and also says that she is a totally independant buyers advocate (??!).

She also says to never buy property for taxation purposes, yet her whole technique is based on depreciation benefits.

She has been helpful for me, but once you realise these people want the money in publishing and expensive seminars, you'll soon see their information (and them) in a new light (I guess).

Somthing about it is quite sick to me. Charging $3,000 for a seminar on the guise that you are 'helping needy australians' seems a bit sad. It also seems to be a low calling.

These 'people;' are the new 'used car salesmans' of the future...

Their information is exciting for those who have'nt heard it before but it is finite and is probably worth about $20 or $30 -the price of a book.

Taking secret commisions is illegal, as I pointed out to Destiny Financial (Margeret Lomas) in an email. They responded,, thanking me for pointing it out and said they would look into it, or similar.

Some might like to go to John.T. Reeds site -very good.

Nicko.

[brains]

Nicko,

whats the web address of John T Reed's site?

[Sim]

Originally posted by Nicko
Please be aware that people who write books on property investing etc are trying to make their money from publishing (and the seminar circuit!) and not property investment!

I think that is a little too much of a generalisation.

I know of quite a few successful people who have written books or run seminars (which are quite reasonably priced) because they get a buzz out of doing so - and the financial rewards are just icing on the cake, but often only cover costs anyway.

These people were successful investors first, and the books/seminars came after.

[Kathryn]

Brains,

Web address for John T Reed's site:

http://www.johntreed.com/Reedgururating.html

Makes for interesting reading :p

Kathryn

[Sunstone]

Dear Kathryn,

Funny thing help.

Some people ask for it a lot and then don't offer much in return. (Even if it is to talk further about the mistakes that they have made.)

I am a firm believer in that help is a two way street.

http://www.somersoft.com/forums/showthread.php?postid=32661#post32661

Cheers,

Sunstone.

[brains]

Years ago when i was a pot smoking hippy, i used to own a double vinyl album called "TWO WAY STREET" by Crosby Stills Nash & Young.

Wonder what happened to that album.

I think that post slipped through to the keeper, somehow i missed it.