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  • Profile photo of s4053931s4053931
    Participant
    @s4053931
    Join Date: 2011
    Post 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?

    Cheers

    Profile photo of itsandrewitsandrew
    Participant
    @itsandrew
    Join Date: 2007
    Post 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

    itsandrew

    Go as far as you can see and you will see further.

    Profile photo of TrevTrev
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    @trev
    Join Date: 2006
    Post 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. 

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,847

    http://www.abs.gov.au

    All you want to know & don’t know how to use.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post 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.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of itsandrewitsandrew
    Participant
    @itsandrew
    Join Date: 2007
    Post 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.

    Andrew

    itsandrew

    Go as far as you can see and you will see further.

    Profile photo of Kent CliffeKent Cliffe
    Participant
    @kent-cliffe
    Join Date: 2011
    Post Count: 110

    Hi,

    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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