Financial education

[manchester]

Hi everyone

I'm just starting my journey into property investment and trying to educate myself as best I can before purchasing my first investment. Would you be able to recommend any good books on the subject. So far I have read a few by Michael Yardney and Cam McClellan and just started 'Get a financial grip'by Pete Wargent. Stumbling across this forum has been great and makes for some very interesting reading, just trying to do as much as I can rather than pay someone to do it for me. Any suggestions would be greatly appreciated.

Cheers

 

[Jamie M]

Hi and welcome aboard

There's a sticky thread on recommended reading here - http://somersoft.com/forums/showthread.php?t=9652

There's an updated one too but I can't find it.

Cheers

Jamie

 

[Coota9]

Manchester,

Link below to a site that just specialises in property investment books which may be helpful.

http://www.propertybooks.com.au/

I find Margaret Lomas has well written books that are a great source of info.

-20 Must Ask Questions For Property Investors
-How To Achieve Property Success

This books are a great place to start..

Cheers
Coota

 

[LeoT]

Hi everyone

I'm just starting my journey into property investment and trying to educate myself as best I can before purchasing my first investment....., just trying to do as much as I can rather than pay someone to do it for me.Cheers

My opinion, I would buy most if not all books on the shelf on property investment (only written by Australian authors, the USA ones live in la la land IMO). I would go to a couple of the big dymocks and do the same thing.

Different authors advocate some things that all agree on and some things that will have differing opinions. After awhile you will gain your own 'perspective" which IMHO is important. It only happens after you do a lot of reading.

If an 'investor' is still asking after reading all the books " I would like to invest in OTP unit in Surfers Paradise", they have not learnt a dam thing and are not ready, IMHO.

Depends on how serious/focused you are of course of achieving your goals. Someone said to me the other day, "Don't you think your attitude is a bit too serious to property investing"? And I replied, "How else do you expect me to be, when the other reality is slogging till I'm 70 and retiring on pittance?" Dam right I take it seriously.

Read and learn as much as you can, be focused, and do whatever you have to do to achieve your personal investment goals and you will have a massive chance of actually achieving them mate, which really means your buying your life's freedom back.

Good luck

 

[Paul@PFI]

Hi everyone

I'm just starting my journey into property investment and trying to educate myself as best I can before purchasing my first investment. Would you be able to recommend any good books on the subject. So far I have read a few by Michael Yardney and Cam McClellan and just started 'Get a financial grip'by Pete Wargent. Stumbling across this forum has been great and makes for some very interesting reading, just trying to do as much as I can rather than pay someone to do it for me. Any suggestions would be greatly appreciated.

Cheers

First step would be to read up. But beware. Many spruikers are authors. It gives them a form of legitimacy.

First tip is beware of the pirhanas. This industry is riddled with them.

Second tip is to change your attitude about paying for help. Sure it pays to DIY where you can. Make enquiries and learn. Then check and validate your views using expertise. Pay for that rather than paying for "how do I" assistance. But there are many aspects that are complex and DIY will bite you. These areas are tax advice, structuring, developing....and others. If you wouldn't undertake DIY surgery on yourself then I wouldn't advocate DIY tax and legal either.

 

[LeoT]

If you wouldn't undertake DIY surgery on yourself then I wouldn't advocate DIY tax and legal either.

100% Agree. You will find its vitally important to build "your team" of experts. Without them, Its game over.

 

[BayView]

I've said it a million times here;

This is the best place to be for all the info you need, and you can build your team of the correct people from here too...

All for free as well.

But the people in your team should be paid well if they make you rich.

But, read all the books listed in the STICKY as well.

 

[LeoT]

But, read all the books listed in the STICKY as well.

Just had a look at the "STICKY" list and BOY is it a GREAT list. I think if you read the whole list or even 85% of it, coupled with action, its going to be almost impossible not to achieve great success.

 

[Peter Parker]

My opinion, I would buy most if not all books on the shelf on property investment (only written by Australian authors, the USA ones live in la la land IMO). I would go to a couple of the big dymocks and do the same thing.

Also go to your local library and borrow all the books on property investing.

Why?

The library will have a mix of old and new books which gives you an extra perspective of time.

 

[manchester]

Massive thanks

Thanks everyone for your input, I will crack on with what has been put forward, much appreciated!