The day has come to start contributing to this forum……
I joined PropertyInvesting.com back in 2003 and after 18 months leaning and resourcing property investments I can safely say now I’m in a position to contribute to this forum. This is not to say I’m a slow learner, but nothing beats experience and time.
There hasn’t been a day go past over in the last 18 months I haven’t dialling into PropertyInvesting.com, and exit the forum better for the experience. The experience gained from this forum enabled me to building up a portfolio of PI’s which has been both challenging and rewarding thanks to all of you who contribute in this forum over the years. Therefore, it’s time I pass on some of this knowledge.
Cheers,
Geoff BHi Geoff and a warm welcome to the forum,
It’s great to see you contributing to the forum, your experience and comments on property investing will be much appreciated & valued by many I’m sure, Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Thanks Steve for your kind comments.
I’m going to take a value added approach.
Cheers
GeoffBHi Geoff B,
Thanks for making your post.
So… if you can, would you (and others) like to share say up to three insights you have when it comes to investing in general?
Mine would be:
1. Luck is hoping to profit whereas skill is applying a known strategy with a specific outcome in mind, by a specific pre-determined time, prior to beginning
2. Speculators buy on opinion, investors buy on fact
3. Investing has at least three phases: The Buy, The Manage and The Sell.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
I could come up with a load of insights, however the first three straight up would be:
1. An investing plan’s success is inversely proportional to its length.
2. Invest in something you understand.
3. True investors learn from mistakes and march on.Cheers
GeoffBAlways keep an eye on the cashflow and your ability to service loans.
1. Capital Gains absolutely do happen in high cashflow areas
2. A high yield is a great buffer
3. Renovation or adding value is a fantastic way to speed up the capital gains process as well as increase the income without twiddling your thumbs waiting for ‘time to pass’1. Don’t allow others to dampen your success (some are just jealous or fearful of what they don’t understand) and will advise you not to go ahead.
2. Do your due diligence, believe in your findings and follow through.
3. Replicate – when you find a deal that works and is still valid in the current market then replicate it.Never undervalue your own gut feeling
Look for the difference in applying your skills to each properties percieved problem and obtaining a happy outcome
Listen only to those that have done it and done it well.As 95% of all so called “investors” never have more than one property, why listen to their limited and usually not the best experience. That goes for your solicitor or accountant too, if they dont have a property portfolio, it is definitely time to move on.
DD
PS146 Certified Financial Planner and Buyers Agent
Don’t sweat the small stuff,and it’s all small stuff!!ok heres mine
1. When considering an investment understand that everyone has an angle or a particular barrow to push. Once you understand the motives…. you will gain insight into the truth and hopefully into the true value of the investment.
2. Dont follow short term fluctuations – its the trend that counts.
3. If you bight of more than you can chew and then chew like hell – you might end up in hospital getting your jaw rewired. Be like the French – small bites – enjoy every mouthful – find pleasure in the journey!
Off the top of my head..
1- Build a team and keep in regular contact (REA, Accountant, Mortgage Broker, Other Property investors, PM, Valuer etc)
2- Time + Effort = Wealth
3- Enjoy the ride
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
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