There are passive and/or active investors
The second (after Somers) IP book I read was his 7 Steps to Wealth. I thought it was a better book than Somers, even though there are somethings I disagree with (ie buying in new housing estates, and his land over units fallacy) to varying levels.
I went and visited Custodian in Drummoyne and had a 1hour or so chat. I came away thinking, "they aren't helping me for free here. They need to make a margin and that margin will probably be in inflated prices"
I went away and used his strategy myself. Was very happy with the reults (1500% growth on my outlay over 5 years) on my first IP. Never looked back.
Moral of the story: Don't buy your IPs through a club or anyone who carries stock. At best you wll be charged for freely available information, at worst you can be sold a dud at overs. Spruikers who offer stock choose areas where new stock is available and not necessarily where the growth pockets are. If you must have some one hold your hand, go find a reputable buyers agent.
I agree, but some of us who would be classied as followers rather than leaders had to start somewhere. Also, many people will not take an Active Role but a Passive one so for those perhaps joining a club, to do it for them or using a buyers agent is the way to go.
I agree with the new estates, as the prices can be manipulated, and myself prefer houses (that's just me - I just like total control over it).
Other ideas I may use is that I may buy one, two, or three lots next to each other for future redevolpment, if I like the area.
I personally do not wish to undertake development, but I did invest in Custodian Land, as they do specialise in this business.
I for one have changed from a passive investor to an active one, but I will always be greatful to JLF for showing me the start...
Others have their mentors, for me he's my mentor as I like his honesty and wealth of information.... Others may have their mentors, books, seminars.
I don't know but to be successful in property we need to be open minded and see the possibilities first. I am sure you are aware that active investors require a specialised team of experts (a solicitor/lawyer, accountant, broker, agent, etc...).
Then it's up to us to act or let someone else do it for us as long as we start and keep on learing....don't you agree?