Newbie - WHERE do I start?

[Cookie Kwan]

Hi guys...

First time poster, long-time stalker.

I'm in my mid 30's and want to start looking into property investment. For someone who has little knowledge in this field, where and HOW should I start?

Any particular books/ websites/ audiobooks/ clairvoyants I should consult? IP for dummies?

Thank you!!!!

 

[Singo]

If you are a long time stalker, you should know a lot by now. This forum is a great resource. But you have to read quite a lot to pick up sufficient information from this forum. Reading a few books will enable to see a full picture and then you can fine tune your knowledge by reading and contributing here!

Property investment for Dummies (Australian edition) is a good book! I would reccomend "how to grow a multi million dollor portfolio" by Michael Yardney, books by Steve McKnight, Margaret Lomas' latest book and "real wealth through real estate" by Helan. Actually there are lots of books good enough to guide newbies but some stupid books are out there as well! Subscribing to PI magazines will be a good option as well.

 

[Cookie Kwan]

Thank you Singo!!!

I used to frequent the forum a few years ago when I was purchasing my PPOR... I guess IP requires a very different mentality?

Thanks for the suggestions I shall check them out!!!

CHEERS!

 

[Pianissimo]

Pick the suburbs you would like to invest, and go to inspections and auctions as much as possible to get the idea of that market.

 

[Cookie Kwan]

Thanks Pianissimo!!

 

[The Y-man]

Read the books by the owners of this site......


http://www.somersoft.com.au/



The Y-man

 

[Terry_w]

Yes, I would suggest you start on the Somers books. They cover the basic foundations of investing.

Beware of other books. Some are good, but others are merely designed as spruiking tools. Put a marketing twist on it and claim a new strategy type thing. Lots of hype.

Really the best thing to do is read the books and then this forum. Any BS or hype is quickly put in its place.

 

[chibs]

This forum one of the best resources I know for property investing. The information is current and relevant and you can find information on various aspects of property investing.

I'm in the process of learning myself. There is so much to learn, so just take one small step at a time and you'll get there.

 

[Jake Milne]

I tend to agree with the sentiment that books are the lowest cost option and tend to be the most comprehensive.

Those publications aforementioned are all quite good. I'd recommend that you read as many books as possible and just take out the common themes as there's quite a bit of misinformation if you listen to the specific "strategies" and marketing terminology.

Also try go to seminars; most will have an agenda so again, just pick out the common themes and start piecing the puzzle together. Stay away from paying any large sums of money for a seminar... Some spruikers charge $2,000 - $5,000 for virtually nothing.