All Topics / Help Needed! / Courses not expensive TAFE?

Viewing 15 posts - 1 through 15 (of 15 total)
  • Profile photo of lucky88lucky88
    Participant
    @lucky88
    Join Date: 2008
    Post Count: 25

    HI

    I have read about 10 books on real estate investing etc, and have learned something from each, I would really love to do some sort of comprehensive course though. One that covers everything from inspections/finance/purchasing and the pros and cons of different strategies withoug any bias or sales pitch. Does such a course exist?

    Appreciate any guidance.

    Lucky

    Profile photo of L.A AussieL.A Aussie
    Member
    @l.a-aussie
    Join Date: 2006
    Post Count: 1,488

    Sadly, no.

    Unless you want to go to a complimentary one evening seminar, then get signed up for the you beaut $5k course and get steered towards some over-priced apartments they happen to have for sale at the end of it.

    The best course you can do is the one where you get out the check book, and buy that cute little 3 x 2 with a garage for around $250k.

    You'll learn REALLY fast.

    Aside from that; hang around here, or over at the Somersoft forum; you'll learn a heap and it's all free.

    Profile photo of lucky88lucky88
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    @lucky88
    Join Date: 2008
    Post Count: 25

    Hi L.A. Aussie

    I though as much. Means there is a market for such a thing????

    Lucky

    Profile photo of RockianRockian
    Member
    @rockian
    Join Date: 2008
    Post Count: 85

    Hi Lucky,

    There may be a market for such a course but their are so many different strategies that the course would be very general in nature. Like Marc says, get in their and do it. If you have read 10 books then you don't need any more academic stuff to confuse you. Just pick a strategy and go for it. Procrastination can be a real wealth stopper.

    Ian 

    Profile photo of L.A AussieL.A Aussie
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    @l.a-aussie
    Join Date: 2006
    Post Count: 1,488

     I'm sure there is a market for a properly set up, run by suitably qualified experts type of course to teach property investing, finance etc.

    And there are honest and reputable property investing courses and seminars out there; the trick is to separate the scams from the real thing.

    It would be great to see a TAFE course or Uni course for property investing.

    The problem in the real estate industry is trying to find people who are;

    a) suitably qualified

    b) willing to do these courses in a similar manner to a teacher at a TAFE or Uni or High School.

    For most people; there is not enough money in it to do it that way.

    If it is anything like a TAFE run "Golf for Beginners" Course (I am a golf pro and have taught golf for 25 years), then it wouldn't be worth the time.

    The local TAFE near me approached me to run one for them several years ago, and they had already advertised their Course!, but the hourly rate they offered me was a joke and I declined.

    Profile photo of jebrojebro
    Member
    @jebro
    Join Date: 2004
    Post Count: 98

    Hi Lucky,

    I believe that there are now some property investing courses run by Tafe, but not available in every State, so it would be worth while investigating that line a bit further.

    There is also Steve McKnight RESULTS programme which runs for 12 months, teaches you a heap about realestate and mind set and has no associated hype or sales.

    It isn’t for everyone and
    It aint cheap, but for a 12 month programme I think excellent value for money.
    No, I’m not a family member or a PI.com emplyee, but I did do the programme. It made the difference for me to go from someone who was interested in property investing to it becoming a business.

    Jebro

    Profile photo of DraconisVDraconisV
    Participant
    @draconisv
    Join Date: 2006
    Post Count: 319

    The education department needs to create a finance course in high schools and make is compulsory in years 7-12, that would sort out the youngins'

    Profile photo of lizziewebblizziewebb
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    @lizziewebb
    Join Date: 2008
    Post Count: 5

    I'm not sure if this is what you're after, but the Urban Development Institute runs courses for beginners on property development.. anything from a single house/subdivide/small apartment complex, etc. It's not cheap, but they are meant to be fantastic.

    http://www.udiaqld.com.au

    Profile photo of LinarLinar
    Member
    @linar
    Join Date: 2004
    Post Count: 567

    Hi there

    TAFE does run a course called Property Investing.  I did it last year and it was fantastic.  It covered everything from building inspections to general economic principles to property management to developments.  It cost about $3000 and was worth every cent.  I did the course in Adelaide but I know it is also run on the Gold Coast and I think also in Sydney.  Call the lecturer, Peter Koulizos on (08) 8207 8388.  The course is advertised in the API.

    There is a bias in that each individual lecturer has their thoughts on the best way to invest in property.  For example, the accounting lecturer was all about buying and holding rather than "trading" and their was a slant towards negative gearing (but I think that is only because most property investors negatively gear).  There was no barrow to push and the lecturers were all investors themselves.

    If you are serious about investing, then education is an essential part of investing.  $3000 may sound like a lot of money but I learned so much from it.

    Cheers

    K

    Profile photo of nordicskiernordicskier
    Member
    @nordicskier
    Join Date: 2004
    Post Count: 85

    I'd love to run a property investing course through TAFE having 15+ IPs.  I enjoy teaching people (ex instructor) and have a wider then normal field of expertise and knowledge that can make a difference (ie LOA, Council requirements, Admin for IP).  However, I am currently employed and enjoy the job.  I would be happy to run a course through TAFE in southern NSW if TAFE asked me.

    One thing that seems to have eluded many commentors and authors is how to administer your IP and PPR system efficiently.  This is really an important IP segment after the fun times of purchasing and renovating.

    The  needs to meet your way of thinking and operating.

    I believe it needs to:
    a) meet the requirements of the ATO (so you can get a quick return and re-invest)
    b) track rental payments through bank statements
    c) be  effective in finding out the insurance info, lease aggremment info, property details, property mgt details
    d) be efficient in filing expenditures
    e) be easy to understand when the ATO audits in 5 years, or for your will executor

    Our system is made up of
    a) excel spreadsheet component for expenditures and incomes
    b) the bills to pay tray – in chronological order
    c) concertina folder for doc info to be entered onto the computer
    d) hard copy system made up of lever arch folders
           1) Each folder has on the spine in big letters the property name ie street name or suburb/town as well as the insurance number and loan umber on the spine as well,
            2) Front plastic sleeve with TAX 07/08 in permanent marker on it – for expenditure receipts
            3) Divider Tab – Rental – for rental statements from property managers, inspections and lease agreements
            4) Divider Tab – Insurance – policies and associated docs
            5) Divider Tab – Loan – loan docs, bank loan statements
            6) Divider Tab – Purchase (located at the back – for initial acquisition & research (nice to read back at some of the adverts being considered after a few years!, strata stuff, reno stuff
    e) a tray system for each property which all relevant docs are placed after being entered on the computer ready for lever arch filing. 
    f) Lever arch folders for Line of credit, Research (ie new deals)
    g) Usual collection of API mags 

    So the admin system is just one segment of IP.  We have found there are several interconnecting segements of IP.

    a) Property research (yes we have bought IPs when on holidays!, looking for multiple income streams off one property ie house and granny flat) – also what sort of ownership type – joint, individual, trust
    b) Finance (getting it ready before buying, we're always a bit late on this!, having a broker that is also a direct property investor-should be your first question to a prospective broker along with how many and where.)
    c) Making the deal (how to get the vendor's agent working for you and achieving the lowest acceptable price – I reckon having the finance ready then offer a silly low price but add the enticement of  30 day settlement and no conditions – you won't get every deal but the deals that are successful will be +ve or close to it)
    d) administering the whole process from start to ongong
    e) exit strategy – what are you doing all this for?  If it to retire early then considering when to sell, is there another way such as seeking an additional LoC and living off the rental income whilst using the additional LoC for paying the shortfall on loans.(Double tax deduction)
    d) Having fun!! and Communicating Effectively by stopping the use of acronyms

    Profile photo of hleunghleung
    Participant
    @hleung
    Join Date: 2007
    Post Count: 141
    Ian Landy wrote:
    Hi Lucky,

    There may be a market for such a course but their are so many different strategies that the course would be very general in nature. Like Marc says, get in their and do it. If you have read 10 books then you don't need any more academic stuff to confuse you. Just pick a strategy and go for it. Procrastination can be a real wealth stopper.

    Ian 

    The only thing wrong with "get in their and do it' is that you can make so many mistakes along the way even after reading 10 books.  It's good to be able to do a course such as the TAFE one, ask questions and get some feedback from those who are not trying to push an idea.  A lot of the books that I have read in the past are trying to sell a product.

    Profile photo of RockianRockian
    Member
    @rockian
    Join Date: 2008
    Post Count: 85
    hleung wrote:

    The only thing wrong with "get in their and do it' is that you can make so many mistakes along the way even after reading 10 books. It's good to be able to do a course such as the TAFE one, ask questions and get some feedback from those who are not trying to push an idea. A lot of the books that I have read in the past are trying to sell a product.[/quote]

    Point taken. I wasn't knocking studying at all. It is essential to learn the theory. I think I was hinting more at taking some action sooner rather than later. Mistakes can manifest even after years of academic learning. It is ideal if theory and practice can go together and it is a fact of life that some people stay too caught up in theory without taking action. I guess it's a mindset problem which is hard to overcome for many. The first step is often the hardest – particularly with property when large sums of money are at stake.

    Profile photo of L.A AussieL.A Aussie
    Member
    @l.a-aussie
    Join Date: 2006
    Post Count: 1,488
    Ian Landy wrote:
    hleung wrote:

    The only thing wrong with "get in their and do it' is that you can make so many mistakes along the way even after reading 10 books. It's good to be able to do a course such as the TAFE one, ask questions and get some feedback from those who are not trying to push an idea. A lot of the books that I have read in the past are trying to sell a product.

    Point taken. I wasn't knocking studying at all. It is essential to learn the theory. I think I was hinting more at taking some action sooner rather than later. Mistakes can manifest even after years of academic learning. It is ideal if theory and practice can go together and it is a fact of life that some people stay too caught up in theory without taking action. I guess it's a mindset problem which is hard to overcome for many. The first step is often the hardest – particularly with property when large sums of money are at stake.
    [/quote]

    Good point, but I think if newbies adopt the plan of starting off with something relatively cheap to get their feet wet, then there is not a lot of risk.

    It's when you see them going for the $500k off the plan apartment as their first one that makes me nervous.

    Profile photo of nordicskiernordicskier
    Member
    @nordicskier
    Join Date: 2004
    Post Count: 85

    I definitely agree with starting small <$200k but it is hard if you are located in the capital cities.  I guess I would look just outside my capital city and do the ongoing analysis of opportune properties.

    Profile photo of lucky88lucky88
    Participant
    @lucky88
    Join Date: 2008
    Post Count: 25

    Hey all

    Thank you for your thoughts… and input. I think I will look in to doing one of the courses recommended, but don't worry, it won't put me off doing something sooner rather than later either!

    Lucky

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