kehnan92Member@kehnan92Join Date: 2011Post Count: 1
Hey guys I'm new to this forum so sorry if i posted it in the wrong section.
I've just finished college and know that I want to eventually get into property development full time as my career. I already have some carpentry skills but was wondering if i should do a carpentry or builders apprenticeship to get started, do some basic renovations, gain more experience and knowledge and then move into property development
I live in Canberra have 10k saved up and am learning quite a bit about shares, investing in property through my parents and through forums, property development sites, magazines etc
Any advice or help on how to start out and work my way up would be much appreciated. Thanks for your timeJackFlashMember@jackflashJoin Date: 2011Post Count: 66
I would start here. From the US but universally relevant.
Develop these skills and you’re halfway there At least you’ll know who to listen to and who to avoid. A few here I could name but I’ll leave you to figure them out. Good practice.
JackJaSin66Member@jasin66Join Date: 2011Post Count: 30
I think if you want to start with reno's then your on the right track to seek more knowledge in that area, while your doing your trade you can still be saving for that 1st deposit & gaining knowledge through reno workshops, books etc.
Basic reno's would be the way to start, no good biting off more then you can chew. I wish I was as smart as you when I was much younger.good luck.Mick CParticipant@shapeJoin Date: 2010Post Count: 1,099
Aim big…but start small, your planing with thousands of $$ so take it nice and slow
Do some renovations before development for sure…it will help you understand how the full deal works.
MichaelchristianbParticipant@christianbJoin Date: 2009Post Count: 386
Learn as much as you can about money and risk.
In my opinion property development has precious little to do with carpentry and building. I would recommend some accounting and legal studies to understand the basics.
Most of the developers I work with know nothing about building, and don't feel they need to.garrymacMember@garrymacJoin Date: 2010Post Count: 11
We’re currently doing a couple of developments in Sydney’s western suburbs. Building and carpentry skills are certainly helpful BUT unnecessary. My best advice to you is not to rush things.
Firstly, as with any investment, make sure your numbers stack up. When you’re ready, start by ‘cutting your teeth’ on a small investment – maybe you could purchase something with cosmetic renovation or small development potential. Secondly (really this should be ‘Firstly’), seek out a mentor – someone who has ‘hands-on’ development experience and is willing to help you. Don’t be concerned if you need to pay your mentor…one way or another you will pay for your education – either by making costly mistakes and learning from them OR paying someone who has already made those mistakes. I can assure you the latter is far less expensive.
GarryTaylorChangParticipant@scha9799Join Date: 2009Post Count: 234
With all the nice comment above.
I did some reno. and build some granny flat before.
I found property development is about people and number. You can surely build something with all the modern technology available and engineering solution.
BUT if it doesn't make money and adding value to someone what's the point ?
Knowing who to listen to and believe in, and how the number is work are most important things in property development.
Knowing some building, carpentry, accounting, finance, law, will certainly help you identify who to listen to and believe in.
I hope this helps.hemi3000Member@hemi3000Join Date: 2012Post Count: 15
Good on you buddy,
I commend you on your ability to want more for yourself.
As suggested from other posts, having a mentor is key to success.
No great things ever happened without a great mentor and coach.
Surround yourself with positive and supportive people.
There are many mentors on the circuit, pick one that you are comfortable with.
Developing takes time, we must crawl and walk before we can run.
Best of luck mate.mattstaParticipant@mattstaJoin Date: 2011Post Count: 604
Carpentry is a good skill to have, but it is not necessary for property development. Read books on PI, find a good mentor to help you out, read forums and research before you buy any property. PI is a risky business. You can make a lot of money from it, but you can loses everything fast as well. God luck!