……This is what I would do…….

Thanks for this interesting topic.[]

Being an inexperienced investor, I’m not sure why I would need an accountant at this stage. Is there accountants that specialise in investing? Where can they be found? How can their expertise be assessed? What value would they add to the process?

Cheers,

CarLover.

my info, I started out investing in 1978ish
I would have started sooner, but I was too young and my parents didnt have the money

my parents were both in business, I too have some sort of business background

I learn through reading, asking questions and talking.

I dont beleive in seminars for ME. Only because I begrudge the payment (though they have a right to be paid for their work)

i bought a second property when I was married and a block of land. we eventaully sold one. We lost money due to bad tenants no one knew about insurances back then!

in the 80’s my marriage folded, so too my home. so i went on the rental trip for years as a sole parent.

in the late 80s i became self employed.But no one wanted to give me a loan. I ran a successful business or two or three, and they said I would never do it. I did. But still no home loan.

I took off went to uk and came back, moved in with someone and started the investment strategies again. The relatioinship fell apart….LOL

So I gave up until three years ago. Got my loan, got my home, read heaps of books, did loads of study (business course hahaha, and now financial planning) kept working for someone else.

Left the relationships out of it this time!
I still had one block of land, bought the other in the 90’s btw and built a share portfolio for balance. Bought house 1/2/3, rent them out, just sitting at present.

would i do anything again? change anything? no
you learn by your mistakes and I made plenty.

I jsut bought two propterty amangement software programs to try out, a portfolio manager, reading three books at once…get tired of one, pick up the other etc….and stil studying, not to mention working.

single, one income, daughter and grandkids

so if I hold and dont fold, I have a house for each…LOL

cheers

Elves

Hi,

Don’t spend any money initially. Firstly devote a lot of time reading through as much stuff as you can on the Somersoft forum. Make sure you go back a few years. You can skim throught a lot of irrelevant stuff.

It will be a relatively easy process to identify who the excellent accountants, lawyers and brokers etc are.

Doing this you will avoid just about every mistake most of us have made along the way.

Initially you might be confused with contradicing views etc but after awhile you will start to know the ones that are experts in their area and get a feel for the type of investor you are by relating to other’s experiences.

Quite frankly my opinion based on personal experience and that of friends is that most courses are a waste of time especially the more expensive ones.

But the sad part is that despite what most of us say people will continue to look for a silver bullet strategy from a “guru” only to find out that there is none and they have wasted a lot of money in the process.

Cheers – GA