Newbie to investing, recommended books still good

[Qinau]

Do remember, though, the books give you the basic theory. You have to match that with current market conditions. So in addition to the books, read the business sections of the newspapers, including the different states' ones. These are usually available for free on the internet. Also, go out and look at properties. Get an idea of what's out there. Go to rental properties as well and see what's available and how much they rent for. Talk to brokers about what sort of loans they recommend and why (IO? P&I? Offset? LOC?)
Alex

Yes thanks, I have been looking at as much info I can but haven't actually been physical property researching yet. I had thought a P&I would be the best loan type for me initially, not so sure now. But I'm still reading, talking, reading

 

[Mry]

I like Anita Bell's book for the checklists and review processes for purchasing property, but paying off a loan in three years is totally unrealistic nowadays. Unless you earned a bundle, you would totally kill your cashflow. She said in the book that accountants won't want you to lose the tax deductions which is why people don't like her idea of paying down loans, but the reality is that if you purchase a $300,000 house, you would need to repay about $330,000 over a 3 year period using after tax cash flow to pay down that loan. If I had that kind of cash, I would prefer to use it to purchase a few other things and build a reserve in an offset account.

But then again, I find that with most of these books, I disagree with the most of the content but you find a few gems here and there.

 

[Bushy]

Here is a list in alphabetical order, I have found something good in all of them even if it was only one sentence.


author, Title

BEAUMONT, SECRETS OF PROPERTY MILLIONAIRES
BOURIS, WEALTH WIZARD
BRIAN TRACY, CHANGE YOUR THINKING/ CHANGE YOUR LIFE
CEREXHE, SMARTER PROPERTY IMPROVEMENT
CLASON, THE RICHEST MAN IN BABYLON
COMPTON, RENTAL PROPERTY AND TAXATION
COVEY, 7 HABITS OF HIGHLY EFFECTIVE PEOPLE
FITZGERALD, 7 STEPS TO WEALTH
GATHERUM-GOSS, TRUST MAGIC
GATHERUM-GOSS, TAX BATTLES
HERALD, WOULD YOU LIKE ATTITUDE WITH THAT
JAN SOMERS, CREATING WEALTH WITH INVESTMENT PROPERTY
JAN SOMERS, MORE WEALTH
KENNEDY, THE NEW NEGOTIATING EDGE
KIYOSAKI , RETIRE YOUNG / RETIRE RICH
KIYOSAKI, RICH DAD / POOR DAD
LOMAS, HOW TO CREATE INCOME FOR LIFE
McKNIGHT, 0 TO 130 PROPERTIES IN 3.5 YRS
MELVIN / CHAN, LEGALLY REDUCE YOUR TAX
NAPOLEON HILL, KEYS TO SUCCESS
NAPOLEON HILL, THINK BIG AND GROW RICH
RENTON, FAMILY TRUSTS
RON FORLEE, AUST RESIDENTIAL PROPERTY DEVELOPMENT
RYDER, PROPERTY SMART
TRUMP, STRATEGIES FOR REAL ESTATE
WAXMAN &LENARD,INVESTING IN RESIDENTIAL PROPERTY
YARDNEY, GROW A MILLION DOLLAR PROPERTY PORTFOLIO
ORDINARY MILLIONAIRES

Please don't ask me to rate them

Regards Bushy

 

[jym]

Big list of books here;
http://www.somersoft.com/forums/showthread.php?t=9652