Sources of Property Investment Knowledge

[YPG]

I am new to the game of property investment being only 20 and having just signed a contract on my first property; so any advice or direction is greatly appreciated.

Just as the thread name suggests I was wondering if any of you could share with me your most influential property investment books, websites, seminars and other sources of knowledge?

WEBSITES/FORUMS:
Currently I use websites/forums like somersoft to inform and educate myself from the uses. Anyone know any other outstanding property investment website/forums?

MAGAZINES:
I regularly read API, Urban developer and a few other property magazines.Anyone know any other outstanding magazines?

TERTIARY STUDY/ACCESS:
I am currently studying a double degree of Regional and Town Planning/Bus Man - Majoring in Real Estate and Property Development so I have access to a number of articles, journals and other sources there.

BOOKS:
I have only bought two real estate books - the Steve Mcknight Book and the John McGrath guide to real estate book. What are some of the best property investment books you guys have read?

SEMINARS:
I have never attended any seminars as I have never really trusted them and have always assumed they are just there to self promote or sign you up to something - I could be wrong. Anyone gone to any outstanding seminars?

Cheers,
YPG

 

[Aaron_C]

Best thing you can do is learn the market that you are buying in. That means going to actual inspections for rent/sale just for fun and studying every facet - what sells well, why does it sell well, how can you apply that to your own circumstances etc. That's worth more than any book can tell you.

 

[YPG]

Best thing you can do is learn the market that you are buying in. That means going to actual inspections for rent/sale just for fun and studying every facet - what sells well, why does it sell well, how can you apply that to your own circumstances etc. That's worth more than any book can tell you.

Awesome piece of advice! Thanks!

 

[silverx]

Best thing you can do is learn the market that you are buying in. That means going to actual inspections for rent/sale just for fun and studying every facet - what sells well, why does it sell well, how can you apply that to your own circumstances etc. That's worth more than any book can tell you.

that's so true, i think one of the guys here were saying go to at least 100 properties inspection before buying

 

[AlrightJack]

Blogs and forums like this one are the most useful in my view, to gather a wide range of alternative views. An interesting observation raised by Christopher Joye today, there seem to be a 'war' between the blogs at the moment.

http://christopherjoye.blogspot.com/2011/09/blog-wars-australian-property-forum-vs.html

 

[YPG]

Haha good article - it amazes me how people are so loyal and defensive to their chosen investment paths, always critising and arguing that their method is better. I spose people don't want to admit that their path may be underperforming the other.

Two (cheesey) pieces of advice that I plan to follow are:

- Balance is the key
- Stick to what you know

So I guess because I am studying about property and have an interest I will invest my money in property HOWEVER since my brother is in commerce/finance game I will get him to manage and seek advice from him about the share side of my investment portfolio. Hopefully this will lead to a balanced and successful portfolio.

Eh and spruikers are everywhere, shares and property - you just can't escape them!

Another piece of advice I will follow is:
If it seems to good to be true, then it probably is.

Just my two cents
YPG

 

[Jamie M]

I am new to the game of property investment being only 20 and having just signed a contract on my first property; so any advice or direction is greatly appreciated.

Just as the thread name suggests I was wondering if any of you could share with me your most influential property investment books, websites, seminars and other sources of knowledge?

WEBSITES/FORUMS:
Currently I use websites/forums like somersoft to inform and educate myself from the uses. Anyone know any other outstanding property investment website/forums?

MAGAZINES:
I regularly read API, Urban developer and a few other property magazines.Anyone know any other outstanding magazines?

TERTIARY STUDY/ACCESS:
I am currently studying a double degree of Regional and Town Planning/Bus Man - Majoring in Real Estate and Property Development so I have access to a number of articles, journals and other sources there.

BOOKS:
I have only bought two real estate books - the Steve Mcknight Book and the John McGrath guide to real estate book. What are some of the best property investment books you guys have read?

SEMINARS:
I have never attended any seminars as I have never really trusted them and have always assumed they are just there to self promote or sign you up to something - I could be wrong. Anyone gone to any outstanding seminars?

Cheers,
YPG

Social media can be handy as well. If you've got a facebook or twitter account - you should check out some of the property related FB pages and twitter pages. It's all free and generally up-to-date.

Cheers

Jamie

 

[sammmeee]

You can read all the books and study all the courses BUT nothing beats actually diving in and having a go just as you are.

I started at 22 and made mistakes and had fantastic results also. I read the books but when it came down to decision making it is a lot different to what the books say. A balanced approach find someone who has achieved what you hope to and ask for advice. Don't listen to those who haven't achieved or tried to do what you want to do. Most importantly trust your instincts with backed up due diligence!

All the best

 

[Belbo]

Blogs and forums like this one are the most useful in my view, to gather a wide range of alternative views. An interesting observation raised by Christopher Joye today, there seem to be a 'war' between the blogs at the moment.

http://christopherjoye.blogspot.com/2011/09/blog-wars-australian-property-forum-vs.html

As an aside to the OP's queries, the thrust of Joye's article (see link above) was that the MacroBusiness blog is pro-shares and anti-property. I've read a lot of it (thanks to Hobo-jo's constant referrals to it), and have to concur.

But just how anti-property are they? Well, this from the SMH today is suggestive -

On its own, however, Australia's stellar house price performance tells us little about the extent to which Australian housing is overvalued, since it does not take into account the growth of incomes and the broader economy over time. It also completely ignores the returns from housing relative to interest rates and other forms of investment.

The inaugural MacroBusiness Housing Valuation and Investment Report is here to settle the debate once and for all. . . .

No major Australian housing market could be considered affordable under this measure. . . .

Thus the report shows that the investment fundamentals currently do not stack-up for Australian housing unless there is strong capital growth - a questionable prospect in the current economic environment.

There you have it. The debate's been settled. Once and for all, no less. Sell up and buy shares. (Preferably those spruiked on MacroBusiness.)


Back on topic, just read widely while testing the waters by actually investing in a few areas (Yes! Shares, property, fixed interest, whatever.) It's amazing what the power of 'having an interest' does to your comprehesion of matters. (In ancient Greece, only free, asset-owning males, citoyen, were bestowed the power to vote. Women and slaves were excluded, because both could not legally own assets. At the time it was a revolutionary idea, and ultimately paved the way to the advent of modern democracy. Curiously, we now assume all adults are appropriately 'interested' to vote. Complicated word, that one.)

 

[Player]

You can read all the books and study all the courses BUT nothing beats actually diving in and having a go just as you are.

I started at 22 and made mistakes and had fantastic results also. I read the books but when it came down to decision making it is a lot different to what the books say. A balanced approach find someone who has achieved what you hope to and ask for advice. Don't listen to those who haven't achieved or tried to do what you want to do. Most importantly trust your instincts with backed up due diligence!

All the best

YPG...........Stick these words on your fridge.

 

[Dazz]

Agreed Player - none of the books I've ever read, nor any of the seminars I've attended, ever actually delve right into the nitty-gritty of everything you need to know to actually pull off a successful sales contract.

Going thru the actual process, you are forced to learn heaps.....hence why starting off small is a good idea....make all of the fundamental **** ups with the first few and it won't cost you an arm and a leg.

You wanna have all those ironed out by the time you get serious.

 

[redwing]

"Learning is experience, everything else is just information"

 

[Rolf Latham]

"Learning is experience, everything else is just information"

May I add

Learning from OTHERS' experience is more than information

ta
rolf

 

[Lofty]

Hi YPG

You mentioned that you've read one of Steve McKnight's books. Steve got started on his real estate investing journey using vendor finance. Some free research resources on this niche of the real estate market can be found at:
http://www.propertyinvesting.com/strategies/wraps
http://www.propertyinvesting.com/str.../lease-options
http://www.jvpropertypartners.com.au...d=50&Itemid=75
http://www.vendorfinancelawyer.com.au/
http://www.vendorfinance.asn.au/ The Vendor Finance Association of Australia

Cheers, Paul

 

[Buzz]

I am with Rolf on this.

You should learn it yourself but with help. I completed 6 renovations before I ever had anyone else project manage one for me so I knew what to ask and what they needed to know.

I also read 130 books and attended seminars - they got me to where I am now a lot sooner than if I had just tossed my hat in the ring and had a go - messed it up and then wait 5 years to recover and then had another go. Then again I had a 10 yr plan so it was important for me to make every year work.

So my advice, read some, listen some, learn some, apply it, see what worked, learn some more, apply it. Dolf de Roos says you need to see 100 properties to end up with 1 - in the last 10 years of doing this and working with lots of investors, I agree! So pound the pavement definitely but also value well intentioned experience of others - you will find them here on the forum.

Hope this helps
Jane Slack-Smith