[Daniel_95Participant@daniel_95Join Date: 2013Post Count: 25]

January 4, 2015 - 6:33 pm

Didn’t want to start a new thread. Thoughts on Highland park and surrounding areas?

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November 21, 2014 - 12:26 am

http://australianpropertyforum.com/topic/10077322/1/

Dark Knight, i found the post here. Since reading that i’m fairly concerned, my parents are actually doing a MAP session next week.

• This reply was modified 9 years, 5 months ago by  Daniel_95.

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February 25, 2014 - 12:15 pm

Good to read about your progress mate, i wish you all the best with your US journey.

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February 2, 2014 - 12:57 pm

TomWood wrote:

Thanks so much for your advice Daniel, I really appreciate being able to hear from a variety of different people that are involved in investing/development.

No worries mate

TomWood wrote:

Thanks Crest, I am trying to make the most of the enormous amount of spare time I have learning about investment and entrepreneurship instead of boring my brains out, wasting my life on Snapchat, Facebook and all that other crap. I think that investing my spare time educating myself will be something I definitely won't regret in the long run, well hopefully not if I manage to be successful!

This !

With this attitude you'll be successful !

Try not to limit yourself just to real estate, read up on a variety of areas. I love this blog, even though some of the interviews may not be directly related to the field you want to go into, learning about the mindset of these successful people is really valuable.

http://www.secretentourage.com/

I'm not sure if i can link other sites? Sorry if i'm not.

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February 2, 2014 - 11:42 am

streamlineinvesting wrote:

Hi Tom,

As others have said, University is a personal choice, definitely not essential. I know in my university degree (civil engineering) I did not learn too much about how to be a good engineer, I learnt everything as soon as I stepped into the workforce, in the end I feel like the only reason I did the course to get a piece of paper which meant I could be an engineer. 

I would be interested to keep in touch, I have a younger friend (about 17 now I think he is) and I have been trying to show him the light in terms of investing and achieving financial freedom, unfortunately he has never seemed interested in learning that sort of thing, I bet he will realise it when he is older and wishes he started doing it when I first started showing him! 

But for yourself in your current situation I think you should use it to your advantage, and by that I mean is after focusing all on school of course, you should have a fair bit of spare time, so do not waste it, try and keep researching and planning for the future, so by the time you are able to start investing, you will have all the knowledge you need! 

But feel free to drop an email, I would be happy to keep you in the loop with my next investments so you can see (almost) first hand every step of the way regarding investing in property. Hopefully you will find it interesting and perhaps make a decision if it is something you want to pursue in the future, and with the bonus of not having to risk any of your own money!

Show me instead, i'm keen

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February 2, 2014 - 11:41 am

I really love hearing stories like this about kids motivated to invest so early and don't follow the normal route to the rat race.  I've just completed my hsc and will be completing a bachelor of commerce/law but my main focus is to get into property ASAP just like you.

Seeing as i'm in a similar position to you, i'd recommend you read as many books and online articles as you can. The impact these had on my mindset and thought process was staggering. Buy a few mags and watch Nathan birch online, it's really helpful. Over time you will become knowledgeable enough to work out your own strategy to achieve your personal goals, but for now just learn about investing in general. 

The subjects you select for school won't make much difference at all, they all have very little relevance to the real world, the main benefits they can have is in your analysis skills. For the hsc ( YR 11-12) i would strongly recommend you do economics because i found that's the only subject that is somewhat related to the real world. You will learn basic concepts about how the global economy works,  although you would learn this at a later stage i think it's better to learn than wasting time doing a subject with no benefit to you in the long run. 

Doing a uni degree won't really help for property development, it's all based on your contacts and personal experiences. Go into a profession you enjoy and will allow you to maximise your borrowing capacity, i wouldn't go into property development as my only career path initially. If investing/development allows you to retire early then go for it, but i wouldn't have it as my sole focus. 

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July 29, 2013 - 1:46 pm

wilko1 wrote:

sell the family home

buy another house for 500k

go buy a commercial property for 1.5 mil yielding at least 10 percent

ensure you get insurance

150k pa

I'm not exactly a genus but wouldn't it be highly risky to put all your cash into one asset? Especially it being a commercial property?

I would have thought it would be better to diversify your risk and invest in a handful of cheaper properties (be it residential or commercial), possibility to value add and go from there.

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July 22, 2013 - 10:54 am

I am 17 myself so i certainly know how you feel.

My advice would be to try and learn as much as possible in the next few years whilst we can do little else, make use of all this spare time you have now as when you get older it will be limited. Try to start networking people who invest, this forum is great to learn about new strategies and ask people about how they started etc.

Read magazines, books, watch youtube videos etc, there is so much knowledge accessible and waiting to be leant. We are so lucky as previous generations had to find out for themselves via trial and error or be lucky enough to have extended family or friends who invested.

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July 22, 2013 - 6:46 am

Don. wrote:

Just my opinion but the key is to learn and grow – it is great to follow as long as you don't find yourself becoming a disciple of any particular person. Personally, I have paid for and read many books and attended many courses and no one idea is any better than the other.

This is my mentality. I am young and in no way ready to purchase property, however i believe that you can't determine which method is better as it all depends on the individuals circumstances. 

I'm trying to learn a variety of different methods and will then utilise the ones which are most suitable to my needs and goals in both the short and long term.

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May 21, 2013 - 12:14 am

I'm 17 as well. As i can relate, i would recommend reading and learning as much as you can while you acquire a deposit. 

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April 25, 2013 - 5:40 am

Terryw wrote:

gmh454 wrote:

I'm an accountant, one of my favourite stories is from a colleague.

back in the early part of last decade when everyone was buying, and property was going to double every 7 years, one of his clients, bit the bullet and bought up big. (never asked the accountant first, but that is pretty usual).

At the end of the year he had managed to completely wipe out his income, (property losses exceeded wages).

He got back around 30K in tax, and asked is "that all" ????. My friend tried to explain that you can only get back what you pay…

he said …  "but that man at the seminar had said he would get back 45% ($50K) … are you sure you are right …"

"the man at the seminar "… wonder how many times people hear this

The good old 'man in the seminar' has been responsible for many a misunderstanding! So this guy wanted to get back more tax than be actually paid. I had a friend who got into a panic when her unit became cashflow positive. Her accountant told her she would have to pay more tax but a way to prevent this was to do a reno. So she did a needless reno on the bathroom

Stupid, i would rather be taxed on a profit rather than subsidised on a loss.

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April 22, 2013 - 3:15 am

MikalHoward wrote:

I am not lying about the price! I registered interest on the website, they emailed me back with the cost outlining everything that is on offer. I called them and spoke to someone at the office who verified it whilst discussing some of the finer details.

If you don't believe me, register yourselves and you will get the same email. DONE!

Surely, if I was lying or April Fooling, someone of notable stature from PropertyInvesting.com or even Steve himself could shut me down.

It's really a small price to pay for your own education. You would make it back in future purchases anyway.

Didn't mean to make you upset, i honestly thought it was April fools because of the day and that it was a significant increase in price. I'm still planning to do it in a few years when I have the funds though, its a small price to pay in the long run relative to your investments. 

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April 22, 2013 - 3:12 am

Jason957 wrote:

Hello Guys,

Just a small introduction i am 17 and have been reading about property and very interested.

I wanted a bit of knowledge on the topic of loans and borrowing for the buy and sell strategy.

I understand there is some kind of insurance if your loan is under a certain percentage but how do you go with a buy, renovate and sell ? Do you still take the minimum amount and obviously have a buffer for renovations ? And how much does loan insurance cost ? also what are the tax implications with doing this over and over ?

Any other feedback and advice related to this topic is highly appreciated.

Thanks

Jason

PS: This forum is absolutely great , i have learnt so much in the past 2 weeks.

I'm 17 as well, good to see other people my age on the forum. For your strategy, you would have to be making some killer capital growth to make a reasonable profit after buying and selling in a short amount of time, also known as flipping. This is because of the initial buying costs  (stamp duty etc) and than selling costs (commission, capital gains tax etc), although you could get around capital gains tax by making it your PPOR for the time period that you own it. 

Its a great forum, in the short time i have been on here, i have learnt heaps.

Cheers,

Daniel

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April 21, 2013 - 1:29 pm

luu09 wrote:

Yeah, distressed developers with high discount, anyone can do this mate. Be aware that not all properties are the same, if the project that the guy named Nathan Birch bought is really a good investment then he is bloody lucky. You don't get that good luck so often, mate. What I am talking about is an every day business, when normal guys like you and I can seek for discount deals. Think about it, if you, on your own, go to any particular developers to buy, say 2 properties (high growth potential ones), do you think they will give you some discount?

This idea is new, yes, but does not mean it will not work. Look at GrOffr.com, do some research about them and you will know what I mean.

If i was you, i would Google a person's name before judging. If you knew anything about him, you would know that his current position isn't due to "luck". 

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April 13, 2013 - 1:49 pm

Qlds007 wrote:

I have to say studying Finance at Uni will do you absolutely no good if you think that is the answer to deciding on which lender suits your needs.

Criteria changes by the day and unless you are working in the field have a Uni degree is just another piece of paper.

I did Economics at Uni in the UK many years ago and have never used it to this day.

In my opinion nothing better than a working education in the property industry and getting some hands on experience.

Beats the theory any day of the week.

Cheers

Yours in Finance

My intention has been for a long time to do finance at uni. As i mentioned earlier, I want to get a job in the industry, most likely at an investment bank and to do so i need to do B Commerce or another uni degree anyway. I understand where you and everyone else is coming from that experience is move valuable, but i need to do this specifically for my desired employment.

If i was interested in an unrelated field and wanted to learn about investing, i would most probably just do steve's IV cert (planning to do so in the future anyway) and save the 30k + from uni. Also, completing a whole degree to just learn about which lender to use seems pointless in my opinion. Sorry if i came across sounding like this was my reason for doing finance.

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April 12, 2013 - 12:46 am

petefromsydney wrote:

Is it that difficult to give someone a million dollars for free? Do I really have to see 'Mark Rolton' on every page that I visited?

See his adds everywhere, sick of this crap. 

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April 11, 2013 - 10:44 am

Jason957 wrote:

Hello Daniel,

At the moment i am thinking of doing B Commerce – Property. I actual just started reading it like first few pages, i just finished my exams so i will finish reading it soon and will get back to you!

They have a property major for Commerce? The only property related uni courses I have seen is B property Economics at UTS & the various construction and project management courses at various uni's.. I just finished my exams as well, just started reading "How I turned $1000 into Five Million in Real Estate in My Spare Time". 

se7en wrote:

Hello Daniel, 

I am 24 and finished my property and construction management course last year. While I think it was good that I did the course, as it has lead to me establishing an income, I can honestly say that this forum alone has given me more knowledge about investing in property than all my studies combined, not to mention all the work experience and other resources that I have seeked out.

My one piece of advise which may or may not apply to you but it is one thing I wish I was told, is study to get a job that you really REALLY enjoy don't worry about the money, educate yourself on the side and invest to reach your financial goals. 

I may not be experienced enough to give this advise but given you are not too far behind me in age I feel I can relate very much to your situation. I am still yet to enter the property market and I often look at friends that are, for example, tradesmen earning 6 figure sums but spend it all on liabilities (booze) – if I had of done a trade I would have had an extra 4 years up my sleeve (my course went for 4 years and started after yr 12 in comparison to a trade which runs for 3 and starts at yr 10) I would be earning more and while my career path may not be as favorable, I would be enjoying what I do and be in a much better position to make real money through investments – you don't make money off salary – just look at all Australia's wealthiest, they don't get checks, they write them. 

That said, if your a Career Path person go for it! but if your after something more then don't follow the crowd .. it leads to a desk.

I have a passion for Finance, I understand where you're coming from because I know quite a lot of people in Banking tend to just do it for the money.

I think I am to be honest, can't determine that now obviously as I'm still in school. It would just be good being financially free so I don't NEED to work, plus I really enjoy investing in general (shares, FX and Real estate mainly). 

Thank you for the advice though, it is hard to relate on here because of the large age difference and differing generations.

Btw sorry Jason for the thread hijack.

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April 10, 2013 - 1:11 pm

I'm 17 as well completing my last year at school, its good to see someone with similar interests. I was planning to do a B Commerce majoring in Accounting/Finance as I'm work in one of these fields, good pay and should give me a good knowledge of my own finances which is a bonus to my investing interests.

I think doing a course even if you didn't want to work in the field would be good, knowledge is power. However, you should also know to leverage and learn off people who are smarter than you, meaning experts in these industries (Chartered Accountants, Lawyers etc). 

Also, how have you found Margaret's book? I'm interested in reading some of hers.

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April 1, 2013 - 5:27 am

MikalHoward wrote:

Hi all,

I've had an email come through after registering interest in the property apprenticeship and the price is now $7995. The link mentioned above has not been updated. I have to admit I registered interest off of the price I saw in the link. The new price is now double that. Ouch!!

I'm more than positive the content is amazing, I just have to find the money now that doesn't come out of savings/deposit monies.

April Fools? lol 

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March 26, 2013 - 5:19 am

Great post, I wish more people would post these types of threads up more often.