Looking into Property Investment

Probably the best thing you can know right now is ‘why’. It has taken me more years than I would have liked of piddling around with IP’s to come to that question realisticly.

I have 2 IP’s and neither of them were purchased because I knew ‘why’. As a result, one of them is a burden I am readying to unload, thankfully with a reasonable return and the other I have just realised recently has been an exercise in treading water for the last 2 years which I am also readying to unload with thankfully no harm done. Infact, the two of them have been a learning curve. What do they say — u need to make mistakes so you can learn the lessons.

It has not hurt me, this time and in any case I’ll live. However, understanding ‘why’ will mean the difference between a strategy and just a good reason.

My ‘why’ is that untill recently I have been preparing myself to work in a retail job that bores me stupid for the rest of my life. I am now preparing myself for the alternative.

I think I might be blabbing on a bit, but I hope something of what I mean comes thru.

Rakky ;P

Roosterman,
Propert investing is such a diverse area that you need to know what your goals are.
Do you want to go with residential or commercial or both? What strategy are you mostlikely to use, ie wrap, flip, buy and hold, +ve CF, -ve gearing etc.
How many propertieas do you want to own?
How many can you afford to own?
My advice would be to think about these things and to immerse yourself with readng. This forum has many great threads, especially in the archived areas. There is also a recommended reading thread in there, a book review thread, which is a great starting point for finding appropriate literature to read.

Hope this helps.

J