All Topics / Creative Investing / Business Idea Help

Viewing 14 posts - 1 through 14 (of 14 total)
  • Profile photo of PropertyAngelPropertyAngel
    Member
    @propertyangel
    Join Date: 2005
    Post Count: 27

    Hey folks!

    Just a quick one if anyone can help with any sort of advice or info that would be great!

    I have a Fantabulous Niche Business Idea FOr the Property Management Industry that I want to fine tune and develope. Prob is… I have no idea where to start! I have no idea what is involved in setting up a small business within the property industry. ]

    If anyone has any idea’s or Info on how I can really work this idea of mine through to success will help! any and all comments are welcome!!

    Think big and success is yours always!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    There would probably be licencing issues. The best place to start is to talk to the department of fair trading in yoru state. They can give advice on what licence you need, if needed at all, and general business setup advice as well.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of MichaelGruberMichaelGruber
    Member
    @michaelgruber
    Join Date: 2002
    Post Count: 30

    Hi,

    Contact a business enterprise center (BEC) or BASI at Blacktown etc they are non-profit organisations which are run to help new and small businesses with free info and small business courses.

    Regards
    Michael

    Profile photo of PropertyAngelPropertyAngel
    Member
    @propertyangel
    Join Date: 2005
    Post Count: 27

    Of Course!

    Thanks so much folks! Im aware that I must complete my property management study and my agents licence in order to start off. But I’m oblivious to small business full stop…. *chuckles* did I mention I failed accounting and business maths in high school… *ahrugs* not to worry, the wealthiest people on the face of the earth ever finished school so theres definately hope for me!!!!!!

    Maybe I’m a little insane for wanting to tackle property management or should I say conflict management, but I’ll never know whats out there or what can be learnt from it if i dont give it a bash! right!

    Keep the idea’s and info comming!

    Think big and success is yours always!

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544

    Hi PA,

    Are you sure your ‘niche’ isn’t already occupied?

    If it is you may be able to sound out others for some specific guidance and advice as it relates to your plans.

    Derek
    [email protected]
    0409 882 958
    Property investment advice and researched property in quality locations available.

    Profile photo of GeoffBeckGeoffBeck
    Member
    @geoffbeck
    Join Date: 2003
    Post Count: 95

    Hi Property Angel,

    Small assistance regarding your business start-up, suggest you read (presuming you haven’t already) a very inspiring book called “You Inc.” by John McGrath.

    I have just read it for the second time, can really help you to your business goals and aspirations.

    Cheers
    GeoffB

    Profile photo of brahmsbrahms
    Participant
    @brahms
    Join Date: 2004
    Post Count: 485

    hi, all of the above plus MONEY, serious RESEARCH and never lay down TENACITY.

    Good luck with it, the property management industry could certainly use a NICHE- whatever it is.

    cheers

    brahms
    Purveyor of Fine Finances
    aka Mortgage Broker Brisbane

    Profile photo of PropertyAngelPropertyAngel
    Member
    @propertyangel
    Join Date: 2005
    Post Count: 27

    It certainly is niche, and although some creative investors are doing this now privately no one has as yet brought it through to the surface for all to access in the property industry.

    Just as an update I’m all booked in to start off my initial Property Management certificate and then its onto the agents licence from there, im guessing thats where I should start first before I venture into the exciting adventure of how to set up a business.

    You all are inspiring mentors! thanks!

    Think big and success is yours always!

    Profile photo of JunkersJunkers
    Member
    @junkers
    Join Date: 2004
    Post Count: 47

    Hi Property Angel,
    Good on you for having the enthusiasm to go out there and set upi your first business.
    My two cents worth of advice would be this….Make sure you put everything down on paper – write a plan of how you are going to operate the business and visualise how you see your business after one year, 5 years, 10 years….can you see yourself still in it in 10 years time, or will you have a bevy of workers doing al the work for you whilst you enjoy life? It’s such a cliche but “most people don’t plan to fail, they just fail to plan”.
    Also, concentrate on systemizing your business and business systems so that anybody can run it, not just you, because the last thing you want to do is start your business and work 100 times harder than you ever did for an employer for less pay for the next 10 years!! If you’re studying for your licence etc then you’ve got plenty of time to sit and plan how your business is going to look and feel and run before you even spend a single cent on it. Read as many books as you can about small business, I recommend “The E-Myth”, but probably the best piece of advice I can give is to read as many books on marketing as you possibly can. Plan how you’re going to get your niche business ‘out there’ and keep it out there – just putting an ad in the paper doesn’t always work. Read as much as you can and good luck with it all!! [biggrin]

    Profile photo of Rippah30Rippah30
    Member
    @rippah30
    Join Date: 2005
    Post Count: 2

    Hey there all, first time posting.. decided to just mention this because I love to see people thinking ahead and trying to improve themselves.

    Last time I checked, I think Property management Agencies need a licensee, ie: someone who has their Triennial Certificate (sp?).

    While you can certainly attain your Property Management licence, and your Real Estate sales licence..a triennial certificate ( I believe, please don’t quote me)requires 2 years sales experience with decent results, considerable financial stability, good reputation and to be passed by the appropriate Real Estate Board. At least I think thats whats required in WA anyway.

    Not that its a oppurtunity ending problem if it is the case, you can always hire a licensee as a legal figure-head etc. I’m sure you’d find a way through anyway =)

    Knowing is not enough, we must apply.

    Willing is not enough, we must do

    Profile photo of BofclarkBofclark
    Participant
    @bofclark
    Join Date: 2005
    Post Count: 31

    A friend of mine went to a TAFE college here in Brisbane an did a short small business course. It seemed to be pitched at people ,like yourself, who were just starting out in small business. I would suggest that you start at TAFE

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190
    Originally posted by Rippah30:

    Hey there all, first time posting.. decided to just mention this because I love to see people thinking ahead and trying to improve themselves.

    Last time I checked, I think Property management Agencies need a licensee, ie: someone who has their Triennial Certificate (sp?).

    While you can certainly attain your Property Management licence, and your Real Estate sales licence..a triennial certificate ( I believe, please don’t quote me)requires 2 years sales experience with decent results, considerable financial stability, good reputation and to be passed by the appropriate Real Estate Board. At least I think thats whats required in WA anyway.

    Not that its a oppurtunity ending problem if it is the case, you can always hire a licensee as a legal figure-head etc. I’m sure you’d find a way through anyway =)

    Knowing is not enough, we must apply.

    Willing is not enough, we must do

    These RE courses (to qualify for the full RE licence) can now be completed in around 3 months full time – in NSW anyway.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of pete rpete r
    Member
    @pete-r
    Join Date: 2004
    Post Count: 80

    Hi Angel,

    Like Geoff I found “You Inc” a good book and Junker’s advice is very sound. Knowing where you want to go, seeing yourself there and having a plan are critical. Above all, find yourself a mentor who is successful in the way that you would like to be and learn from her/him. In fact it may open doors to other businesses as it did for me, after 25 years in my profession. Still enjoy my profession which generates an active income, but it is no longer the sole income source.

    Good on you for exploring options and best wishes for success.

    pr

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    Has anyone asked what the business is so they can give the proper advice yet???

    I find that new business ideas are not legislated and do not require licensing or compliance.

    Robert Bou-Hamdan
    Mortgage Adviser

    http://www.mortgagepackaging.com.au

    Investor Links

Viewing 14 posts - 1 through 14 (of 14 total)

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