I have come across so many property experts since beginning my investigations. Dolph de Roos (?), Robert Kiyosaki, Peter Spann, The Investors Club, Jan Somers.... I have decided not to attend $6000 seminars by Kiyosaki or buy $3000 RE packages from the USA but to stick to advice from Australians whilst still reading Kiyosaki's books for context and concepts. I have ordered Jan Somers PIA software and latest edition of RE investing book. Should I listen to Peter Spann who inspired me in the first place but lacks financial specifics in his books and admits that the timelines and events in his book came from many sources? Should I attend his courses and study his home based materials? I have been told to steer clear of the Investors club. Who can I turn to as a mentor, preferably someone in South Australia, as I am about to purchase my first three investment properties and would prefer not to make a mistake. Heeeeeeelp - a slightly (?) confused and somewhat overwhelmed Greb.
Which property advisor to listen to?
- Thread starter Greb
- Start date
Hi Greb
Trust the force.
Follow your instincts, your gut feel will rarey lead you astray.
ta
rolf
Trust the force.
Follow your instincts, your gut feel will rarey lead you astray.
ta
rolf
G'Day Greb,
Way to go mate, I can see there is no sticking your big toe in to test the water temperature for you............Just jump straight in my friend. I think they call this sink or swim.
Anyway, this is your chosen modus operandi, let's hope that all sails smoothly.
You have obviously decided to save your pennies and have passed up the option of parting with them to attend the evangalistic real estate gurus seminars that are springing up on every corner, but instead you are using this hard earned as deposits on Investment Properties.
How dare you go it alone? How are these preachers of real estate phenomena going to maintain those lifestyles that are depicted on all those glossy brochures, I mean how enticing to the average punter would it be if the real estate guru God was leaning on the bonnet of a HQ Holden Kingswood, in all fairness Greb, have you no compassion? Do you only think of yourself?
But in actual fact, I believe that you are about to go on one of the steepest learning curves that you have ever encountered.
Granted, you will be no ARMCHAIR EXPERT, but a REAL life Investor, and as such you will deal with REAL problems, not hypothetical ones but on the other hand, you will receive REAL rental cheques and hopefully enjoy REAL capital growth and actually believe it or not, get REAL EXPERIENCE.
As for getting a mentor, do you really think you need one? Most people look to a Mentor as a catalyst for getting started, doesn't look like you need any help in this respect.
My friend, you are about to purchase NOT 1, but 3 investment properties, first up. Mate, methinks you should be doing some of the mentoring on here.
If it's the particular deals that are concerning you, then post them on here for discussion, I have seen people on this forum dissecting deals down to the finest detail for others and they do this for NO CHARGE, I know it's hard to believe, but mate, I see it all the time.
I have said it before as have countless others, this forum is an information extravaganza, but we all take it for granted, why??
because it's free, our minds just can't comprehend that anything that is free could really be of any value.
Stick around Greb and hold on, you are in for one hell of a ride.
regards
Hi Greb,
I think you'll find that those who have been around for a while do or have done the following; read and listened to every property 'guru' and then created their own synthesis or amalgam of the ideas that suited their own temperament.
Go to every free seminar on offer; do not sign up for the $XXXX super course on the night - think it over in the morning after the hype has subsided. Read every book on the subject you can borrow or buy; most of the strategies in the expensive seminars are available in the $25 book (Peter Spann being the exception and those like HK that don't have a book).
It's that simple and complex as you try to sort the sheep from the goats and swing from one plausable theory/concept/strategy to another. Experience is the best teacher in the end, just due your duediligence and slowly stretch your comfort zone - it'll be alright in the long run.
regards, MC
ps. use the forum, it's the way of the force
I think you'll find that those who have been around for a while do or have done the following; read and listened to every property 'guru' and then created their own synthesis or amalgam of the ideas that suited their own temperament.
Go to every free seminar on offer; do not sign up for the $XXXX super course on the night - think it over in the morning after the hype has subsided. Read every book on the subject you can borrow or buy; most of the strategies in the expensive seminars are available in the $25 book (Peter Spann being the exception and those like HK that don't have a book).
It's that simple and complex as you try to sort the sheep from the goats and swing from one plausable theory/concept/strategy to another. Experience is the best teacher in the end, just due your duediligence and slowly stretch your comfort zone - it'll be alright in the long run.
regards, MC
ps. use the forum, it's the way of the force
Spot on MC
BTW
nice to see you back contributing regularly
See change
BTW
nice to see you back contributing regularly
See change
Hi MC and welcome back!
I like what you say about amalgamating and finding your own style. That's so true, especially in my case. I've investigated new ways of doing things with property, only to discover that they're not "for me". All things being personal, one does have to be comfortable with their investment choices and the consequences that they bring. Being involved with other investors and the different information that this brings can become overwhelming at times, and especially so when you begin to listen to your brother/neighbour/milkman/dog next door and take their advice on board. It can become all consuming and headache inducing!
Greb,
Go with what YOU believe will work for you because no one else can tell you here.
As for Peter Spann, I can recommend him as he was the catalyst for change in our household. Though we've deviated somewhat from his original format (that's what tends to happen when your mind is suddenly opened to all these possibilities!) he was responsible for changing the way my husband and I THOUGHT about investing, debt and wealth in general. That doesn't mean that I necessarily believe that everything he recommends doing is right for me, but he did turn our minds around and for that, he was worth every single cent.
Reading is not to be underestimated here in particular, as there is so much wealth in books alone. This forum is also fantastic, as are the opportunities provided to meet and chat with likeminded people. Free seminars can also be handy for picking up new ideas, though I tend to only go now if I've heard through the grapevine that they're worthwhile.
Good luck with your purchases and keep us posted of your success!
I like what you say about amalgamating and finding your own style. That's so true, especially in my case. I've investigated new ways of doing things with property, only to discover that they're not "for me". All things being personal, one does have to be comfortable with their investment choices and the consequences that they bring. Being involved with other investors and the different information that this brings can become overwhelming at times, and especially so when you begin to listen to your brother/neighbour/milkman/dog next door and take their advice on board. It can become all consuming and headache inducing!
Greb,
Go with what YOU believe will work for you because no one else can tell you here.
As for Peter Spann, I can recommend him as he was the catalyst for change in our household. Though we've deviated somewhat from his original format (that's what tends to happen when your mind is suddenly opened to all these possibilities!) he was responsible for changing the way my husband and I THOUGHT about investing, debt and wealth in general. That doesn't mean that I necessarily believe that everything he recommends doing is right for me, but he did turn our minds around and for that, he was worth every single cent.
Reading is not to be underestimated here in particular, as there is so much wealth in books alone. This forum is also fantastic, as are the opportunities provided to meet and chat with likeminded people. Free seminars can also be handy for picking up new ideas, though I tend to only go now if I've heard through the grapevine that they're worthwhile.
Good luck with your purchases and keep us posted of your success!
Hi Greb,
Great advice from all. Read everything - it is all saying much the same thing - just in different ways
Can I suggest reading the paper every weekend and doing the numbers on IP's as often as possible. Use the PIA software and a spreadsheet so you can 'play' with the numbers. It is vitally important you know the market you are going to invest in.
Cheers
Great advice from all. Read everything - it is all saying much the same thing - just in different ways
Can I suggest reading the paper every weekend and doing the numbers on IP's as often as possible. Use the PIA software and a spreadsheet so you can 'play' with the numbers. It is vitally important you know the market you are going to invest in.
Cheers
Greb,
There is great advice to be found on this forum from many practicians of the different styles. Spend lots of time reading many of the past threads, it's the BEST property education you can get.
Jacque,
Have to disagree about the advice you receive from all those helpful souls. I find the dog next doors advice incredably good.
Bill ; which house should I buy? This one fully renovated one or the cheap one next door that needs work?
Dog Next Door ; ruff
Bill ; Ok, then what's the most important bit to look at?
Dog Next Door ; ruff
Bill ; hmm better get the building inspector to look up there before I purchase. What sort of tenants will I get?
Dog Next Door ; ruff
Bill ; Yea your right, better get landlord insurance.
see useful advice
bye
There is great advice to be found on this forum from many practicians of the different styles. Spend lots of time reading many of the past threads, it's the BEST property education you can get.
Jacque,
Have to disagree about the advice you receive from all those helpful souls. I find the dog next doors advice incredably good.
Bill ; which house should I buy? This one fully renovated one or the cheap one next door that needs work?
Dog Next Door ; ruff
Bill ; Ok, then what's the most important bit to look at?
Dog Next Door ; ruff
Bill ; hmm better get the building inspector to look up there before I purchase. What sort of tenants will I get?
Dog Next Door ; ruff
Bill ; Yea your right, better get landlord insurance.
see useful advice
bye
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