What do people think ? Is the information still current and relevant? Are there any other books that are for the current times?
Jan Somers books
- Thread starter nomorework55
- Start date
yes, i think it is still very much relevant, more wealth from residential property is a good read if nothing else, the figures used are are probably about 5-8years out of date, but the concepts are still sound.
the somers buy and hold techniques are well explained
the somers buy and hold techniques are well explained
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IMHO, if you can learn something from a book (doesn't have to be an investing book either), it has relevance.
I always try to pick up/learn at least one new thing/theory/strategy from every book I read or seminar I attend, then try to incorporate it into what I currently am doing. If something I learn doesn't apply to me "today", I will store it in the knowledge bank until such time as it may be required.
Regards
Marty
I always try to pick up/learn at least one new thing/theory/strategy from every book I read or seminar I attend, then try to incorporate it into what I currently am doing. If something I learn doesn't apply to me "today", I will store it in the knowledge bank until such time as it may be required.
Regards
Marty
Sim
Administrator
I always suggest to people who are just starting out in real estate investing and are struggling to work out where to start ... read Jan's books and follow her strategies.
Once you have some experience and some more confidence, you can then start to get more fancy and develop your own strategies, and what you have achieved before then will serve you well as a base for whatever you choose to do in the future.
Jan's strategies are simple, easy to implement, full of common sense, and in my opinion, will form the basis of a sound investment portfolio which will help drive your longer term plans.
Jan's books are quite "timeless" in that they are relevant at any time, and she does go through the concept of market cycles to help you identify and understand how to invest based on current conditions.
Once you have some experience and some more confidence, you can then start to get more fancy and develop your own strategies, and what you have achieved before then will serve you well as a base for whatever you choose to do in the future.
Jan's strategies are simple, easy to implement, full of common sense, and in my opinion, will form the basis of a sound investment portfolio which will help drive your longer term plans.
Jan's books are quite "timeless" in that they are relevant at any time, and she does go through the concept of market cycles to help you identify and understand how to invest based on current conditions.
And in 'Building Wealth Story by Story' there is sure to be a story or two which you can really identify with
My favourite is the painter with the scrappy old ute and the fifty houses.
Cheers
Kristine
My favourite is the painter with the scrappy old ute and the fifty houses.
Cheers
Kristine
They're a nice intro to property investing.
Hi all,
Jan Somers books are incredibly relevant. As others have already said, it is pretty much a timeless approach.
What seems to upset people about the approach is how slow it is. Of course this is what takes the risk out of the investment, but many will not see risk in the more esoterical types of investment.
My favorite in Story By Story is the Greek Immigrant.
bye
Jan Somers books are incredibly relevant. As others have already said, it is pretty much a timeless approach.
What seems to upset people about the approach is how slow it is. Of course this is what takes the risk out of the investment, but many will not see risk in the more esoterical types of investment.
My favorite in Story By Story is the Greek Immigrant.
bye
Yes they are relevant to me. I understand the concepts. I relate to the emotional motivators. And aspire to the focus and success.
The figures hark back to times that pre-date my era. True.
But the rest is relevant.
I also love 'story by story'. I re-read it to get inspired. Yet sometimes it leaves me disappointed in myself.
The figures hark back to times that pre-date my era. True.
But the rest is relevant.
I also love 'story by story'. I re-read it to get inspired. Yet sometimes it leaves me disappointed in myself.
I think they are still relevant. I actually got my copies back from a friend and plan to re-read story by story and building wealth again..
Yes!The current purchase price of property may not reflected in the book
because of when it was written, however the principles and mainstream ideas remain ageless. Excellent resource book.
I always recommend Jan's books to would-be investors because I think the basic principles are sound.....still relevant ....and as has been said before.....timeless.She also explains things in 'plain English' & in my mind, is the most easy property investment writer to understand when you start out (& are blinded with science....ideas......figures....you name it!!!!)
Just my tuppence worth
Annie
Just my tuppence worth
Annie
i also recommend to all new property investers to buy jans books they teach people how to invest long term.It makes sense not to be speculators or buisness investors just normal long term investers who happen to become wealthy over thier working life.Books give me insperation as does this forum and many other people i talk to about property.If it wasnt for reading her books i wouldnt have kept the properties I've got and sold them for short term profit, like my building mates they now ask me how many properties have you got i wish i had of kept some they would be worth a fortune.I just tell them to buy Jans books.
Yeah, I love that story Kristine as well as the the guy who kept buying houses when his family kept telling him to sell cause property prices wouldnt go any higher!
Jan used an example of $160k house/$160pw rent (based on medians at the time).
Median prices since then have approximiately doubled, with rents trailing well behind.
However, as discussed on other threads, it is still possible to find houses in outer suburbs and regional centres priced at half the metro median that almost exactly match Jan's figures. And if you look hard enough one can even get slightly higher yields than Jan's pre-boom example (eg sub $150k house getting $160pw 30km from CBD).
Hence I disagree with those who say that Jan's figures are out of date. But even if they are, they can readily be scaled to other conditions.
Peter
The figures quoted in More Wealth were not out of date for me when I first read Jan's books - only 5 years ago. I followed her formula and built up a strong porfolio.
The beauty of the book is it explains how it is possible for ordinary people to achieve financial security through propery investing - you don't have to be a developer, high income earner etc (which I wasn't) So that in itself is to me one of the most valuable things to come from her books.
Exactly, Pete
A new reader would associate the doubling of median house prices as not an accurate figure to todays median price.
But
if we take the blinkers off
we reveal that
In fact, if the reader thinks things through it becomes living proof that the principles WORKS....PRICES HAVE DOUBLED WITHIN TIME.
In fact they doubled from the first publication to the revised book and then doubled again.
Not forgetting as you say it can also be applied to outer suburbs and certain regional ares exactly the same way with a lower $tarting base.
