Hi, I am just wandering if Jan's book is still current given it was published in 2001 ? Over 2 years ago ...
Thoughts ?
Thoughts ?
More Wealth from Residential Property
- Thread starter LearningMan
- Start date
The "More Wealth" was an update from the book "Building Wealth from Residential Property", which was written about 1990 (I think).
There were a lot of things which had changed drastically in the time since then- interest rates, GST, property prices, and a cycle or two.
Compared with the changes in that ten years, the changes since have probably only involved property prices, and a small interest rate change.
The principles don't change. There's some change in the numbers, but not enough to change the strategy.
There were a lot of things which had changed drastically in the time since then- interest rates, GST, property prices, and a cycle or two.
Compared with the changes in that ten years, the changes since have probably only involved property prices, and a small interest rate change.
The principles don't change. There's some change in the numbers, but not enough to change the strategy.
Hi all,
While I'll endorse the above comments, I find it interesting that when I lend my copy out to people who are interested, I get the feedback that it doesn't work now because the prices are so much higher. I feel that it is the readers that miss the bigger picture and really just want to safely sit on the fence and be gunnas.
bye
While I'll endorse the above comments, I find it interesting that when I lend my copy out to people who are interested, I get the feedback that it doesn't work now because the prices are so much higher. I feel that it is the readers that miss the bigger picture and really just want to safely sit on the fence and be gunnas.
bye
Bill,
I agree with you. If someone doesn't have the personal motivation to take action in the first place, not much is going to alter that. You have to WANT to change in order for it to happen.
There are many "gunnas" in this world. Call them procrastinators, fence sitters, whatever you will. And often they're the ones with the strongest opinions, usually on subjects they know little about.
I agree with you. If someone doesn't have the personal motivation to take action in the first place, not much is going to alter that. You have to WANT to change in order for it to happen.
There are many "gunnas" in this world. Call them procrastinators, fence sitters, whatever you will. And often they're the ones with the strongest opinions, usually on subjects they know little about.
It was the first book I got on RE, and got me into the game 
Noone ever forgets their first time
Cat
Noone ever forgets their first time Cat
Hi all,
I think we've hit the nail on the head here, most people don't see the big picture.
We've even got a few of them on this forum who use every excuse to not invest, and they preach that if you do you will lose!
I have relatives and friends who do the same. Of course I'm just "lucky" according to them, but they are sure that I will lose it all in the long run.
bye
I think we've hit the nail on the head here, most people don't see the big picture.
We've even got a few of them on this forum who use every excuse to not invest, and they preach that if you do you will lose!
I have relatives and friends who do the same. Of course I'm just "lucky" according to them, but they are sure that I will lose it all in the long run.
bye
Appreciate the feedback ... I have ordered the book and will post thoughts of course after reading it.
Many Thanks !
Many Thanks !
I was reading through it last night. Still very relevant.
The example used (3br house for $160 000, $200pw rent) though dated for capital cities, is still applicable for the regional cities that I'm most interested in.
Regards, Peter
The example used (3br house for $160 000, $200pw rent) though dated for capital cities, is still applicable for the regional cities that I'm most interested in.
Regards, Peter
Learningman
I agree Jan's books are good and generally get good reviews.
I am afraid I am in the 'gunnado' crowd which seem to elict most scorn from the forum.
Not sure why people get so heated about this.
reno's and expert tactics are not every one's cup of tea.
I tried a while back(don,t know how to post links but do a search on jan or somers) to make my point that I thought Jan's methods
sound good but I couldn,t get figures to work as would take too much cash flow - advice to me ranged but seemed to be
if you can't fund cash flow change approach.
In another thread a while back people were asked to comment who followed Jan's approach to the letter -most seemed not to.
In my opinion today's low yields will hamper this approach.
for my part I have decided to look close to water/surf and swallow the cash flow loss , but that will limit how much I can do I doubt it will be much of an investment strategy.
regards
Janfan
I agree Jan's books are good and generally get good reviews.
I am afraid I am in the 'gunnado' crowd which seem to elict most scorn from the forum.
Not sure why people get so heated about this.
reno's and expert tactics are not every one's cup of tea.
I tried a while back(don,t know how to post links but do a search on jan or somers) to make my point that I thought Jan's methods
sound good but I couldn,t get figures to work as would take too much cash flow - advice to me ranged but seemed to be
if you can't fund cash flow change approach.
In another thread a while back people were asked to comment who followed Jan's approach to the letter -most seemed not to.
In my opinion today's low yields will hamper this approach.
for my part I have decided to look close to water/surf and swallow the cash flow loss , but that will limit how much I can do I doubt it will be much of an investment strategy.
regards
Janfan
JanFan,
The main driver behind Jan's book it not so much the figures - they change with time / interest rates and mahy other factors.
The main driver I thought was this:
Buy average homes (3-5 out of 10) for best price you can, maintain them, hold onto them and add as you can.
Hmm. There's an idea for a thread...... I'll go do that now.
Cheerio
Simon.
The main driver behind Jan's book it not so much the figures - they change with time / interest rates and mahy other factors.
The main driver I thought was this:
Buy average homes (3-5 out of 10) for best price you can, maintain them, hold onto them and add as you can.
Hmm. There's an idea for a thread...... I'll go do that now.
Cheerio
Simon.
Janfan,
Don't discount yourself!
It's not about the strategy you follow, it's about the results you get.
If your strategy is to buy high CG properties close to city & surf and you can sustain some negative gearing, that's your investment strategy.
And there's nothing wrong with it
As you learn more about investing by doing it some of the advanced strategies will become clearer & you'll be more comfortable trying them out.
But even if all you do is buy a few high CG properties & hold them for 10-20 years you'll be much better off than you are now.
You're not a gunna - you're an investor
Gunnas never invest, you are.
Cheers,
Aceyducey
The core recipe of Jan's approach seems to be:
borrow - buy - hold for the longer term - sell a couple to retire debt on retirement
However as she herself says the details can be varied. For example she mentions that people can do well by pursuing yield, growth or a mixture.
If you buy for the beach property with good growth prospects, maybe you'll be able to afford a couple of cheaper high-yielding (maybe even cf+) properties a year or so down the track. Then you'd have a fairly balanced property portfolio and be well onto replacing your work income with investment income. A cheap reno might also work if you're that way inclined.
Regards, Peter
