Hi guys,
I’ve just finished reading the 2 books. But hmm…I’m not sure where should I start. Can anyone give me some guidelines?
Anson
Suggest you write yourself some goals, 12 months, 3 years, 5 years etc. Once you have them in place break each of them into manageable actions, before you know it you are off and running.
Hope this helps….
Cheers
GeoffBAnson,
An appointment with a mortgage broker would also clarify what you can and cannot do from a financial viewpoint as well.
In Steve’s books you will read about delayed gratification. This is a great starting point. Your money habits![biggrin]
id have to agree with woodsman. reading books is one thing but im not sure if anyone here will be able to tell you with any degree of accuracy where to start without knowing your own situation. ive always found that a mortgage broker is the best one to speak to first about your investment plans.
Hi,
Im in a similar position to you. I have read the books and have now attended two masterclasses. I am finding that the hardest step is the fisrt one.I have asked the same question as you on the forum board. Someone said to me that you need to begin by finding your niche area. Do you fancy yourself someone who is useful with your hands. If so, you can buy a property with problems at a reduced price and add value to it. You can then use the added value as a deposit for your next one.
If you don’t fancy that strategy, you can look at buying a property with a big block, subdivide the block and sell it, using the profits for a deposit on your next one.
If you don’t have much money to spend at the moment, you could rent a house next to a university and sublet each room to uni students. This way, all you would need to do is come up with the bond to rent.
There are many ways to make money in property. Two quotes stick out in my mind which sum up the business of property investing which Steve uses;
Problem + Solution = Profit,
and particularly for you (and I) in your situation;
Action + Reaction = Momentum.
The latter is definately pertinent to your situation and will hold you in good stead. Take the plunge and try something, it is all good experience.
Good luck,
MillsyDear Zeallous,
I have read Steve’s first book and reading the 2nd book. I have put my plan together and determining following actions. I expect it is extremely hard in the starting up actions, but I believe they worth when I reach my final target of financial independency.
Hope this could help!
Regards,
FrancisI suggest reading at least 38 more books… borrow them for free from the library. It took me 12 months but I read 46 books on real estate/investing and a few on success/business/negotiating and I’m so glad I did
If you do a search on this forum, you’ll find a couple of posts with huge lists of books to read along with forumite’s reviews and ratings!
-Ian
Well, everyone’s different. With me it was a case of “just do it”. I jumped in headfirst after reading a total of 2 books (I read one of them twice), and made a very successful first purchase, followed by a second (cash flow +ve, after reading Steve’s book plus a few others), and am currently negotiating my third. So, I’m still a beginner but once you get that first one, things start to flow. Experience is definitely the best teacher. My advice would be to buy well within your means to reduce the stress levels when you start out.
Zeallous, get out there and look at properties and talk to a broker to see what you can afford.
You could also search the old posts for info on the order of buying.
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