s4053931Participant@s4053931Join Date: 2011Post Count: 2
I'm new to the property investing game and would like to gain an understanding of general economics (how money works around the world and in australia) and then how all the factors can affect property markets. Any suggestions for a good resource or a number of them?
CheersitsandrewParticipant@itsandrewJoin Date: 2007Post Count: 294
What I have done (about other topics) is looked up University websites and taken a look at the relevant subjects to see what reading materials are set for the course. Sometimes there are weblinks. It's a good place to start – especially the 1st year core subjects for an overview of the topic. VCE text books might also be a good place to look depending on your background knowledge.and how readily you digest the uni material
Go as far as you can see and you will see further.TrevMember@trevJoin Date: 2006Post Count: 39
For general economics, "Economics for Dummies" is a good read, for a basic understanding of economic principles. A good book to read is "What Every Property Investor Needs To Know About Finance and the Law" by Michael Yardney.Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,847Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
Economics hey….. Gregory Mankiw’s books were always on the agenda during my time at uni. For recommended reading on property investing there’s a sticky thread on the forum somewhere….I had a quick look but couldn’t find it. It’s there somewhere though.
JamieitsandrewParticipant@itsandrewJoin Date: 2007Post Count: 294
Here's the thread for the books https://www.propertyinvesting.com/forums/community/heads-up/6845
It's a sticky in the heads up section.
Go as far as you can see and you will see further.Kent CliffeParticipant@kent-cliffeJoin Date: 2011Post Count: 110
My background is a BA in economics and I would say there are few areas which do help with property investing or investing in general / don’t bother about most of the academic predication stuff because no one has a crystal ball.
Some areas where you should look into:
1) Excel class – You can do this at TAFE or even adult learning centres. Go all the way up to advanced, it is a great tool.
2) Accounting 101 & Managerial Accounting – The basics can really help you understand balance sheets/lingo/returns and all that jazz.
3) Monetary Policy class – if you have the time or have a mate at uni (no security checks lectures) feel free to go along or get the course books. This will give you an understanding of RBA.
4) To get you in the right mind set, read some books like (Black Swan, Fooled by Randomness, Reminiscence of a stock operator, What I learnt loosing a million dollars and anything from Trident Press)
5) Pocket economics book/iphone app is all you will need on the actual theory topic and read The Economist Magazine/AFR/WSJ. The only practicality of this tip is to sound intelligent at dinner parties.
Avoid learning from academic economists and try and read stuff from people who are actually making money. This does not mean go out a buy Robert Kiosaki, Donald Trump or all the other wealth spruikers.
P.s. I almost forgot, some knowledge on corprate/contract law also helps.
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