All Topics / Help Needed! / Im a Newbie and i need Help!

Viewing 11 posts - 1 through 11 (of 11 total)
  • Profile photo of netmartnetmart
    Member
    @netmart
    Join Date: 2004
    Post Count: 4

    Hello Everyone,

    I am half way through Steve’s book and i am very interested in how all of this works. I am 19 Year’s old and im ready to start investing. I have had a look through a few realestate websites and i see the potential.

    So im open to any suggestions on where to get started. Please throw your idea’s and suggestions at me.

    I look forward to all of your comments!

    Regards,
    Grant Phillips
    Netmart Online Shopping

    Profile photo of GramyreGramyre
    Member
    @gramyre
    Join Date: 2004
    Post Count: 110

    I think you personally will be welcomed but your advertising nickname will not. The FAQ clearly states that advertising is not allowed here. Maybe you should take a look at the FAQ and play around with the site search engine before you want to post a question under your new non-advertising nickname.

    ______________________

    I know I can, I know I can

    Profile photo of netmartnetmart
    Member
    @netmart
    Join Date: 2004
    Post Count: 4
    Originally posted by Gramyre:

    I think you personally will be welcomed but your advertising nickname will not. The FAQ clearly states that advertising is not allowed here. Maybe you should take a look at the FAQ and play around with the site search engine before you want to post a question under your new non-advertising nickname.

    ______________________

    I know I can, I know I can

    Nickname Changed. Sorry if i upset anyone. =)

    Regards,
    Grant Phillips
    Netmart Online Shopping

    Profile photo of geogeo
    Member
    @geo
    Join Date: 2003
    Post Count: 1,194

    Your question is an open-ended one.

    Where do u want to invest? Do you want +CF, Capital Growth or both? Do you wnat to invest in apartments, property (residential or commercial), duplex, townhouses, storage units, caravan parks etc.

    How much capital do you have? Do you have any equity or security? Are you investing by yourself or with a partner? What are your financials? Do you know anything about investing? Do you have a Tax structure set up? Do you have a good property accountant and solicitor? Do you have a full-time job or are you self-employed, or part-time employed?

    Be more specific please and don’t just say, “I want to invest”

    Kind Regards,
    Geo.

    I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

    Profile photo of netmartnetmart
    Member
    @netmart
    Join Date: 2004
    Post Count: 4
    Originally posted by geo:

    Your question is an open-ended one.

    Where do u want to invest? Do you want +CF, Capital Growth or both? Do you wnat to invest in apartments, property (residential or commercial), duplex, townhouses, storage units, caravan parks etc.

    How much capital do you have? Do you have any equity or security? Are you investing by yourself or with a partner? What are your financials? Do you know anything about investing? Do you have a Tax structure set up? Do you have a good property accountant and solicitor? Do you have a full-time job or are you self-employed, or part-time employed?

    Be more specific please and don’t just say, “I want to invest”

    Kind Regards,
    Geo.

    I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

    I am 19 Year’s of Age. Im currently in a Full time job providing a income of $30,000 a year and will increase as i slowly work my way up the company’s ladder. I have only just started in Level one Support at a ISP. I also am self employed reselling on the internet.

    I want to invest in Houses, Units & Commercial Properties. My aim is +CF rather than capital growth. Really anything with +CF would obviously be excellent.

    I will be doing the investing by my self. I do not have a solicitor although i have a tax accountant.

    My only knowledge on investing is from what ive read in the “0 to 130 Properties in 3.5 Years”

    Im 19 years of age as i mentioned earlier, and im still on a huge learnign path. Any one’s help would be much appreciated in where to start on my way to freedom. =)

    I look forward to your replies..

    Regards,
    Grant Phillips
    Netmart Online Shopping

    Profile photo of BennyBenny
    Moderator
    @benny
    Join Date: 2002
    Post Count: 1,416

    Hi Grant,

    I was 52 when I realised I hadn’t been doing the best I could (this was 1999) – so, congratulations for starting off so young. Even at MY age though, I spent 9 months just reading, talking to people, going to seminars, etc. to start to understand just HOW to start out with property investing. I’d suggest you do something similar – i.e. don’t be too eager to spend money.

    When I did start, I bought 2 properties right off the bat, as I’d determined that this was going to work better than just one. That plan suited me, my wage, my situation at that time. And it has been beneficial.

    But even MORE beneficial has been the people I’ve met who have advised, encouraged, and mentored me – perticularly in those earlier years.

    So, can I say, don’t be in a hurry to “leap in” – you have many years ahead of you, and several property cycles to build your wealth.

    Today is FAR different than it was 5 years ago when I started – so, don’t be in a hurry. Use your $$ to educate your mind first – then your mind will fill your wallet. I’m sure there will be several threads that discuss worthwhile books to read. Go seek them out, spend a few dollars, and bring yourself “up to speed” quickly. Meanwhile, save up those first dollars as banks like to see a “savings history” for your first property (after that, it doesn’t matter so much – but we all must start somewhere). Good luck

    Benny

    Profile photo of FFCommFFComm
    Member
    @ffcomm
    Join Date: 2004
    Post Count: 627

    I agree with Benny. Education is the most important thing when it comes to investing, and when you are young your education is even more important as hopefully it will help you avoid expensive mistakes as well as allow you to start laying a good foundation, so that by the time your finished you will be very rich.

    Check out 3 books from Robert Kiyosaki – Rich Dad, Poor Dad; Cashflow Quadrant; & Rich Dads Prophecy.

    Also check out materials by John Burley (‘Money Secrets of the Rich’ is an excellent book, and he other materials are excellent as well).

    Those people have helped me enourmesly.

    Rgds.
    Lucifer_au

    Profile photo of WrapitupWrapitup
    Member
    @wrapitup
    Join Date: 2004
    Post Count: 2

    Best thing to do is read the book cover to cover a few times. Then read the book with a note pad handy. Take notes of the parts that you consider important to your investment strategy. Make a set of checklists and templates for property valuation. Make a list of rules for filtering properties using Steves rules as a basis and adding a few rules that fit to your criteria. Once you have these tools in place learn them by heart. Look for property in the free papers available at the local estate agents and also the internet. Filter your list of possibilities and go on a trial run looking at properties. Once you have looked at a number of them and done your due dilligence on each, Come home do calculations and further refinement of your lists and rules. Ring banks and other lenders for rates and quotes on finance and add the information to viable properties. Like anything else a few dry runs are essential. If you have completed all of the above you may be lucky enough to find a property on your first few runs and start the investment building.

    IT IS ALL IN THE PREPARATION.[biggrin]

    Profile photo of netmartnetmart
    Member
    @netmart
    Join Date: 2004
    Post Count: 4

    Thanks guys and girls.

    I really appreciate the help. I will take into account all your information. Of course im not in any position to just walk out and buy a property but my mind is progressing towards this.

    I will purchase these other books you have recommended by Robert and the other. I have already read “Rich Dad Poor Dad” prior to “130 Properties in 3.5 Years”.

    These books are quiet interesting.

    Thanks again for all of your help, if you have thing else to add please do, because i find it very useful and im very thankful.

    Regards,
    Grant Phillips
    Netmart Online Shopping

    Profile photo of Alistair PerryAlistair Perry
    Participant
    @aperry
    Join Date: 2004
    Post Count: 891

    Hi Grant,

    Steve’s books are great, but you should definately also read some other books as well, as there are many different investment strategies that work. You should look at what a range of successful investors do (both in property and in other investment areas) and then make a decision on a strategy that suits you.

    Regards
    Alistair

    Profile photo of mummum
    Member
    @mum
    Join Date: 2004
    Post Count: 104

    Hi NetMart

    I agree with the others re getting as much information as you can handle first. A good place to start if you don’t want to spend too much at this stage is your local library. Work your way through as many books you can on property investing.

    There are many strategies to obtain a good profit and you should be investigating several at least in theory. Do your homework. One of Robert Kiyosaki’s maxims is that the riskiest deal is the one you know the least about. Risk can be reduced by education and some of the best education is learning from other people’s mistakes.

    And, as you work through all this, write your goals down. Develop a plan and write it down. Check your plan with others who are successful for a reality check but it should be your plan.

    Margaret Wilson
    [email protected]

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