All Topics / Help Needed! / Where do i START!

Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of paul blanchardpaul blanchard
    Member
    @paul-blanchard
    Join Date: 2010
    Post Count: 9

    Hi

    This is very new to us..  We want to invest in a property but where do we even start to look!!  I have been scrolling through realestate.com.au and this gets so confusing.  Lots of cheap houses out there but don't have a clue on area. We live in Hobart and have recently attended Steve's conference here.  So at this stage Tassie investing doesn't look the best,  can any one out there suggest a town that they know may give us positive cash flow??? 
    We have been advised to look at mining or upcoming places that are going ahead???

    Christine

    Profile photo of illuminatiilluminati
    Member
    @illuminati
    Join Date: 2006
    Post Count: 81

    there are lots of ways to start, but as you said you are looking for an area with positive cash flow, that puts you in the outer suburbs of cities, small downs, mine towns etc.

    If you want mining as you mentioned then start reading the news papers, finance papers, industry reports etc, to find up and coming mining expansions or investments.  this will give you an idea of where things are happening and when.  then just pick your place and do as much locality research as possible.

    Its basically the same no matter what you choose to do, become an area expert in any area and you will start to find deals, just some areas the deals might be more complex then others.

    Profile photo of paul blanchardpaul blanchard
    Member
    @paul-blanchard
    Join Date: 2010
    Post Count: 9

    Thank you illuminati,

    I will do that. :)

    christine

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Christine

    Welcome to the forum – you'll find a heap of useful info and plenty of friendly people willing to offer a hand.

    I'd start by educating yourself (which you've already started). Read, read, read is the advice I give my new investor clients. Go and rent out every property investing book at your local library. Get a feel for the differen't strategies, the pros and cons of each, ect. Lomas, Yardney, McKnight, Somers all have great books worth reading.

    The more knowledge you have, the better informed your decsions will be when it comes to investing.

    All the best.

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of paul blanchardpaul blanchard
    Member
    @paul-blanchard
    Join Date: 2010
    Post Count: 9

    Thank you Jamie 

    Much appreciated

    Christine

    Profile photo of EPI_DenEPI_Den
    Member
    @epi_den
    Join Date: 2010
    Post Count: 71

    Hey Christine,

    I totally agree with Jamie and Illuminati – get yourself educated as much as possible. Those books Jamie suggested to read are all worth getting your hands on. You can also find quite a few good (and free) podcasts in iTunes, so take a look there (especially if you have to drive to work and can listen to them in the car).

    Also have a look at the magazine stands for property magazines, especially those with heaps of tables at the back. One of the data sets that often appears is the average yield for a certain area. For various reasons, not all the high-yielding areas will suit you, but it is somewhere to start. And remember there is a forum on here that gives tips and advice too!

    Finally, I highly recommend finding a friend who is also interested in property. Having a mentor or buddy is a great way to expand your knowledge, stay motivated and share your successes.

    Good luck!
    Den

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    EPI_Den wrote:
    Also have a look at the magazine stands for property magazines, especially those with heaps of tables at the back.

     Oh yeah, check out this months Your Investment Property mag – my wife and I (and our fur child pug) are in it.

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of paul blanchardpaul blanchard
    Member
    @paul-blanchard
    Join Date: 2010
    Post Count: 9

    Hey..  Thank you both..  i certainly will buy the mag!!  

    Christine

Viewing 8 posts - 1 through 8 (of 8 total)

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