New to Property Investing Need Advice

[WindDrifterParticipant@winddrifterJoin Date: 2006Post Count: 4]

February 28, 2006 - 6:36 am

Hi All!

This is my first post on PI. I am 26 and looking to invest in property but I don’t know really where to start.

Can anyone recommend where I can start to learn about property?

Can anyone recommend any books?

I know nothing about PI something simple to start off with would be great.

Thanks,
WD[biggrin]

[adambcParticipant@adambcJoin Date: 2003Post Count: 145]

February 28, 2006 - 8:41 am

Hi Wind Drifter and welcome aboard!

The best thing you can do at this stage is to do a search of these forums for “getting started” or something similar. You’ll find that someone has asked the same question as you just have many times before.

You also asked about books to read – clearly being on this forum you have probably heard of Steve McKnight’s books. I would highly recommend starting with these. They will give you a really good idea of the possibilities of smart real estate investing.

In fact, the other day I wrote a post designed especially for people like you! Check it out at the following link:

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=22508

I hope this helps you on your journey!

Best of luck!

Adam

Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]

[westanMember@westanJoin Date: 2002Post Count: 1,950]

February 28, 2006 - 9:47 am

Hi WD

i found Robert Kiyosakis books excellent “Rich Dad Poor Dad” is a great starter. He will change the way you think about money, investing etc. I believe i wouldn’t be where i am today financially, if i hadn’t read RDPD. I bought 10 homes in 1997, it was a few years later when i read Rich dad that i was able to move to the next level. Best $25 i ever spent. No other book apart from the Bible has had a bigger impact on me.

other books like Dold de roos “real estate riches” is also excellent.

Once you have read these you will have a frame to build your real estate investing knowledge.

regards westan

We find deals in the USA with growth potential, with equity and showing at least 14% gross returns. Email at [email protected]

[WindDrifterParticipant@winddrifterJoin Date: 2006Post Count: 4]

February 28, 2006 - 11:05 am

Thanks to the both of you! [thumbsupanim]

I will take your advice on board and get reading. [grad]

Cheers,
WD

[DerekMember@derekJoin Date: 2004Post Count: 3,544]

February 28, 2006 - 12:23 pm

Hi WD,

You can also have a look at the following thread as it contains a number of ‘book reviews’. While the books do not always directly relate to property they do relate to self improvement – in the broadest sense of the phrase.

Ooops – forgot the link. Here it is.

https://www.propertyinvesting.com/forum/topic/6845.html

Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958

[tamtamMember@tamtamJoin Date: 2004Post Count: 27]

February 28, 2006 - 1:00 pm

hi wd!! just quickly!! coincidently i have just finished reading “rich dad poor and i have to agree with the other post , it is the best book i have ever read!!! very easy to understand and very eye opening!! it really gives u the urge to strive for success!!!!! good luck!!!!

ta

[mapleleafMember@mapleleafJoin Date: 2005Post Count: 51]

February 28, 2006 - 2:06 pm

Another quick read is “the Weathly Barber”. It really gives an overview and is told like a story, so it is a quick easy read.

Good luck and Welcome to the forum!

Mapleleaf

Achieve the Dream!

[WindDrifterParticipant@winddrifterJoin Date: 2006Post Count: 4]

February 28, 2006 - 2:47 pm

Thank You one and all! [thumbsupanim]

I have never been a strong reader so I guess this will be a massive self improvement! i am taking 3 months off my part-time degree so at least I know what to fill the time with now.

Thanks again for the warm welcome and I hope to learn a lot. Maybe one day I could even repay the favour in a couple years!! [biggrin]

Cheers,
WD

[crusherParticipant@crusherJoin Date: 2002Post Count: 186]

February 28, 2006 - 4:18 pm

WindDrifter,
Here is a link to a FREE downloadable Ebook that I found very helpful to get my psychology adjusted before I started investing. It’s big picture information but I am amazed how principles in this book come back to me and help me to press on with investing in the face of difficulties- I’d love to know what you think after reading it.
Don’t be concerned about the shopping cart link (it leads to a site where other books can be purchased) but I promise that the the ‘Science of Getting Rich’ book is free!!
http://www.1shoppingcart.com/app/?af=364744

I have just started building a website that you may find useful. I am putting in as many property investment resources as I can so that investors don’t need to go searching all over the internet when trying to do research for property. I am also going to use it as my own property investment research site so I can research from the one browser. I am open to questions, suggestions and general feedback because the site is still in the development stage. http://www.freepropertyhelp.com.au

[adambcParticipant@adambcJoin Date: 2003Post Count: 145]

February 28, 2006 - 11:16 pm

Crusher,

I just had a quick look at your website and it looks really good! I haven’t yet checked all of it out, but I must give you credit for starting something like this. Well done, and all the best!

Cheers,

Adam

Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]

[leeleedubParticipant@leeleedubJoin Date: 2005Post Count: 26]

February 28, 2006 - 11:45 pm

I would recommend “Real Money, Real Estate” by Brad Sugars. It was the first property investing book I have ever read and I wasnt much of a reader either. It certainly opened my eyes and now in the last 3 months I have read about 15 books on PI.
If it wasnt for the eye opener that Brad Sugars’ book gave me I wouldnt be on the fast track to wealth today.
I only have one property but in the last 2 months, I have researched, had a loan preapproved for my second property and drawn up my plan to retire by age 32. That’s 10 years away and very acheivable.
Best of luck on your journey.
Let us know how you are tracking,

Regards,
Lee

[WindDrifterParticipant@winddrifterJoin Date: 2006Post Count: 4]

March 1, 2006 - 1:34 am

Leewiza thanks for the recommendation

Crusher thanks for the links. I have already got the free ebook and have printed it.

Your website looks really great and I look forward to using it.

Cheers,
WD

[ben_1Participant@ben_1Join Date: 2005Post Count: 11]

March 1, 2006 - 5:04 am

Crusher

Great websight! just what i have been looking for.

As a newbie to PI i would suggest a beginners area with links and/or reviews of great books to get started with. this also seems to be a very common thread on this forum.

WD

welcome to the forum. i am in a very similar situation to you. I also suggest ‘Rich Dad, Poor Dad’ but warn that it is very american based. Personally i enjoyed Steves books much better.

If you are interested in renovations then i am in the middle of a good one called “Real Estate Riches from Trash and Treasure” which is aimed at beginners.

Good luck

Cheers
Ben

[crusherParticipant@crusherJoin Date: 2002Post Count: 186]

March 1, 2006 - 2:29 pm

Hi All,

Thanks WD and Ben for your feedback. I will respond to your requests. Keep watching the website http://www.freepropertyhelp.com.au because I will be adding more content soon.

I just received delivery of a recently released book titled ‘How to get rich rewards in Real Estate in 3 years’ by Phil Jones from Richmastery. I intend to post a review on my website as soon as I have read the book. Be patient because the book is 353 pages long and I have to make the time to read it in the midst of my presently busy ( but enjoyable) life. Luckily the font is quite large.[blink]

[Mortgage HunterParticipant@mortgage-hunterJoin Date: 2003Post Count: 3,781]

March 2, 2006 - 12:09 am

Originally posted by WindDrifter:

Thank You one and all! [thumbsupanim]

I have never been a strong reader so I guess this will be a massive self improvement! i am taking 3 months off my part-time degree so at least I know what to fill the time with now.

Thanks again for the warm welcome and I hope to learn a lot. Maybe one day I could even repay the favour in a couple years!! [biggrin]

Cheers,
WD

Some of these books are available via MP3, I know RK has a lot of audio stuff on the market.

I “read” my books whilst walking the dog or driving the car and just finished a very interesting one on Warren Buffett.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

[adambcParticipant@adambcJoin Date: 2003Post Count: 145]

March 2, 2006 - 7:35 am

Simon,

Could you possibly elaborate on how to access these MP3 audio books please? This sounds great!

Thanks,

Adam

Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]

[JarrahMember@jarrahJoin Date: 2005Post Count: 99]

March 2, 2006 - 8:59 am

Hey!

I have a mate who infuriated me by scanning self help and the like books to make copies UNTIL he informed me that he does it to then forward to The Society for the Blind which makes it legal to do this though only if you are giving it to The Society for the Blind… They have a library and i am sure would have a lot of these books on audio as they do transcribe them to audio…

Dont know the links though.

Let us know how you go if you check it out…

Regards, Jarrah

“ask and you shall recieve”

CASH FLOW+ PROPERTY HUNTER
(Climbing & Consulting
Arboricultural Services)
0431433288

“be ye angels?”,
“nay we are but MEN!”

[Mortgage HunterParticipant@mortgage-hunterJoin Date: 2003Post Count: 3,781]

March 2, 2006 - 9:13 am

Originally posted by adambc:

Simon,

Could you possibly elaborate on how to access these MP3 audio books please? This sounds great!

Thanks,

Adam

Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]

mmm I buy them…

Check your local library for CD’s too.

There are also the odd free download on the internet if you look hard enough.

Some people download them from file sharing sites but I am sure this is illegal and I wouldn’t condone anyone do that.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.