All Topics / Help Needed! / Property Investing Course

Viewing 20 posts - 1 through 20 (of 23 total)
  • Profile photo of Jason957Jason957
    Participant
    @jason957
    Join Date: 2013
    Post Count: 22

    Hello,

    I am Jason and 17years old – Still in school. I have a very keen interest in property and have been reading About Mark Rolton, Postive Real Estate , API Mag, And just started reading Margret Lomas book.

    I was hoping to become a real estate agent and do property investment on the side, My Dad is into this field so i get quite a bit of information from him, I understand and will take me a while before i will be able to act on property investing/development but wanted to start learning from now.

    So at this stage i am thing of doing Agency Managment at Tafe but what extra cources does everyone recomend is there a specific property investing cource also maybe accountancy or financial planning , there is also the Uni property cource but some say its too valuation based and not worth the extra time.

    Would be grateful for options!!

    Thanks 

    Jason

    PS: I am from Sydney

    Jason957

    Sutherland Shire Real Estate Agent - Jason Mikhail - 0402 640 630

    Profile photo of ClaireRClaireR
    Participant
    @clairer
    Join Date: 2013
    Post Count: 16

    Less courses more work experience, try and get a part time job working for a real estate agent or even go around to all your local agency's and ask if you can do a few hours volunteering/work experience if they say no offer to mow lawns (on their rental property list)/do admin filing or reception for free in exchange for time with a real estate agent. Or get a part time admin/reception job with a financial planner.

    Courses are ok but it'll never beat real experience and building relationships with industry professionals.

    Good Luck!!

    Profile photo of Tony FlemingTony Fleming
    Participant
    @the-dark-knight
    Join Date: 2008
    Post Count: 396

    I did the course at Tafe and its a piece of cake it won't take up much of your time but i decided to stay working where i was. It was much easier to build a portfolio with a shift working job rather than 9 to 5 hours that is if you want to build a big portfolio or a small portfolio. If your looking at having a small one a 9 to 5 job would be fine. Just my opinion but,

    Tony

    Tony Fleming | Triumphant Property Group
    http://www.triumphantpropertygroup.com.au
    Email Me | Phone Me

    NSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury

    Profile photo of Jason957Jason957
    Participant
    @jason957
    Join Date: 2013
    Post Count: 22

    Awesome Guys, Thanks for your comments

    Does anyone think that either accountancy, or financial planning course would be good or suggest anything else ?

    Also, I have been offred a job when i complete school and i have my certificate of registration!

    Jason957

    Sutherland Shire Real Estate Agent - Jason Mikhail - 0402 640 630

    Profile photo of Daniel_95Daniel_95
    Participant
    @daniel_95
    Join Date: 2013
    Post Count: 25

    I'm 17 as well completing my last year at school, its good to see someone with similar interests. I was planning to do a B Commerce majoring in Accounting/Finance as I'm work in one of these fields, good pay and should give me a good knowledge of my own finances which is a bonus to my investing interests.

    I think doing a course even if you didn't want to work in the field would be good, knowledge is power. However, you should also know to leverage and learn off people who are smarter than you, meaning experts in these industries (Chartered Accountants, Lawyers etc). 

    Also, how have you found Margaret's book? I'm interested in reading some of hers.

    Profile photo of Jason957Jason957
    Participant
    @jason957
    Join Date: 2013
    Post Count: 22

    Hello Daniel,

    At the moment i am thinking of doing B Commerce – Property. I actual just started reading it like first few pages, i just finished my exams so i will finish reading it soon and will get back to you!

    Jason957

    Sutherland Shire Real Estate Agent - Jason Mikhail - 0402 640 630

    Profile photo of se7ense7en
    Participant
    @se7en
    Join Date: 2011
    Post Count: 54

    Hello Daniel, 

    I am 24 and finished my property and construction management course last year. While I think it was good that I did the course, as it has lead to me establishing an income, I can honestly say that this forum alone has given me more knowledge about investing in property than all my studies combined, not to mention all the work experience and other resources that I have seeked out.

    My one piece of advise which may or may not apply to you but it is one thing I wish I was told, is study to get a job that you really REALLY enjoy don't worry about the money, educate yourself on the side and invest to reach your financial goals. 

    I may not be experienced enough to give this advise but given you are not too far behind me in age I feel I can relate very much to your situation. I am still yet to enter the property market and I often look at friends that are, for example, tradesmen earning 6 figure sums but spend it all on liabilities (booze) – if I had of done a trade I would have had an extra 4 years up my sleeve (my course went for 4 years and started after yr 12 in comparison to a trade which runs for 3 and starts at yr 10) I would be earning more and while my career path may not be as favorable, I would be enjoying what I do and be in a much better position to make real money through investments – you don't make money off salary – just look at all Australia's wealthiest, they don't get checks, they write them. 

    That said, if your a Career Path person go for it! but if your after something more then don't follow the crowd .. it leads to a desk.

    Profile photo of Daniel_95Daniel_95
    Participant
    @daniel_95
    Join Date: 2013
    Post Count: 25
    Jason957 wrote:
    Hello Daniel,

    At the moment i am thinking of doing B Commerce – Property. I actual just started reading it like first few pages, i just finished my exams so i will finish reading it soon and will get back to you!

    They have a property major for Commerce? The only property related uni courses I have seen is B property Economics at UTS & the various construction and project management courses at various uni's.. I just finished my exams as well, just started reading "How I turned $1000 into Five Million in Real Estate in My Spare Time". 

    se7en wrote:
    Hello Daniel, 

    I am 24 and finished my property and construction management course last year. While I think it was good that I did the course, as it has lead to me establishing an income, I can honestly say that this forum alone has given me more knowledge about investing in property than all my studies combined, not to mention all the work experience and other resources that I have seeked out.

    My one piece of advise which may or may not apply to you but it is one thing I wish I was told, is study to get a job that you really REALLY enjoy don't worry about the money, educate yourself on the side and invest to reach your financial goals. 

    I may not be experienced enough to give this advise but given you are not too far behind me in age I feel I can relate very much to your situation. I am still yet to enter the property market and I often look at friends that are, for example, tradesmen earning 6 figure sums but spend it all on liabilities (booze) – if I had of done a trade I would have had an extra 4 years up my sleeve (my course went for 4 years and started after yr 12 in comparison to a trade which runs for 3 and starts at yr 10) I would be earning more and while my career path may not be as favorable, I would be enjoying what I do and be in a much better position to make real money through investments – you don't make money off salary – just look at all Australia's wealthiest, they don't get checks, they write them. 

    That said, if your a Career Path person go for it! but if your after something more then don't follow the crowd .. it leads to a desk.

    I have a passion for Finance, I understand where you're coming from because I know quite a lot of people in Banking tend to just do it for the money.

    I think I am to be honest, can't determine that now obviously as I'm still in school. It would just be good being financially free so I don't NEED to work, plus I really enjoy investing in general (shares, FX and Real estate mainly). 

    Thank you for the advice though, it is hard to relate on here because of the large age difference and differing generations.

    Btw sorry Jason for the thread hijack.

    Profile photo of zorrohdzorrohd
    Member
    @zorrohd
    Join Date: 2013
    Post Count: 34

    Hi Daniel and Jason, it's great to see some youth and enthusiasm here. I went down the education course,I have a BBus Commerce, worked for 3 years in banking (residential and commercial lending) also in accounting for 3 years. And farm financial consulting. I can analyse  a P&L and Balance sheet in my sleep, work with lvrs, budgets, the whole lot. And still managed to under-achieve for 20 years. 

    What I didn't have was a mentor. And probably not the right focus.  And definitely not a natural saver. 

    I agree with Claire's advice above – less courses and more work experience. Definitely find a mentor if you can. And work on your ability to save/budget – it's not sexy but its the fundamental basis of your ability to invest.  You need to learn to manage your money one 0 at a time. Learn to manage $10 then $100 then $1000 etc. 

    Its also about practicing and improving your personal discipline. Learn to love delayed gratification.  Sacrifice today for reward tomorrow. 

    And remember,bathe harder you work, the luckier you will be.

    Profile photo of zorrohdzorrohd
    Member
    @zorrohd
    Join Date: 2013
    Post Count: 34

    Doh! Stupid auto correct!  I meant 'the harder you work……'

    Profile photo of TaylorChangTaylorChang
    Participant
    @scha9799
    Join Date: 2009
    Post Count: 234

    Hi Daniel and Jason,

    Great to see you guys on the right path at such young age.

    I love investing since I was at your age. But I never really got on to the right path and right education.

    However, I was a very discipline saver.  I manage to save almost 60% of my wages. My income was really low at early 20. I was a chef. I was very happy and enjoy what I do.

    I saw many friends in finance and accounting field making big money. I thought it was very good thing to make good money so I back to uni to complete Master in accounting and finance degree and got myself a finance job, which I don't really enjoy !!

    Now look back I really saved more money at low pay cheffing job, then the ok pay finance/accounting job.  I guess end of the day, if you are happy with what you do you will have more surplus money left in the pocket. Because happier people manage money better, negative emotion tender to make negative decision when it comes down to money management.

    Just a thought

    I need to thanks Nigel Kibel point this out to me and I really thinking I need to do something I enjoy the most..

    Regard,

    Taylor

    TaylorChang | Finance Broker
    Email Me | Phone Me

    Home loan | Commercial loan | 0414 691 517

    Profile photo of mattstamattsta
    Participant
    @mattsta
    Join Date: 2011
    Post Count: 604

    I would recommend you to get a job in Real Estate Market. I have been in school for a long time, but I got real knowledge and experience when I started working. Good luck! I also know that companies prefer experience over education as well. 

    Profile photo of Nigel KibelNigel Kibel
    Participant
    @nigel-kibel
    Join Date: 2005
    Post Count: 1,425

    I think working in the industry is a good idea. However as a person who worked in General real estate for many years I would say this the only similarity between being a real estate agent and and an investment specialist is that we both deal in property. As an agent you focus on your next sale ands listing. They generally only deal in the area in which they work. I look and study strategy throughout Australia and also in the United States.

    My point is yes getting a general job in real estate will provide you with some knowledge however keep in mind that less real estate agents invest in property than the general public. 

    Nigel Kibel | Property Know How
    http://propertyknowhow.com.au
    Email Me | Phone Me

    We have just launched a new website join our membership today

    Profile photo of callmelescallmeles
    Participant
    @callmeles
    Join Date: 2007
    Post Count: 29

    Welcome Jason & Daniel,

    Rolton & Lomas are okay but if you want to get into the real thing.

    READ STEVE MCKNIGHT.

    THEN ENROL IN HIS CERT IV PROPERTY INVESTMENT COURSE.

    Regards

    Profile photo of Jason957Jason957
    Participant
    @jason957
    Join Date: 2013
    Post Count: 22

    Thanks for your help.

    So it is a actual recognized course, Is it CV worthy ? 

    Jason957

    Sutherland Shire Real Estate Agent - Jason Mikhail - 0402 640 630

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    I have to say studying Finance at Uni will do you absolutely no good if you think that is the answer to deciding on which lender suits your needs.

    Criteria changes by the day and unless you are working in the field have a Uni degree is just another piece of paper.

    I did Economics at Uni in the UK many years ago and have never used it to this day.

    In my opinion nothing better than a working education in the property industry and getting some hands on experience.

    Beats the theory any day of the week.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Daniel_95Daniel_95
    Participant
    @daniel_95
    Join Date: 2013
    Post Count: 25
    Qlds007 wrote:
    I have to say studying Finance at Uni will do you absolutely no good if you think that is the answer to deciding on which lender suits your needs.

    Criteria changes by the day and unless you are working in the field have a Uni degree is just another piece of paper.

    I did Economics at Uni in the UK many years ago and have never used it to this day.

    In my opinion nothing better than a working education in the property industry and getting some hands on experience.

    Beats the theory any day of the week.

    Cheers

    Yours in Finance

    My intention has been for a long time to do finance at uni. As i mentioned earlier, I want to get a job in the industry, most likely at an investment bank and to do so i need to do B Commerce or another uni degree anyway. I understand where you and everyone else is coming from that experience is move valuable, but i need to do this specifically for my desired employment.

    If i was interested in an unrelated field and wanted to learn about investing, i would most probably just do steve's IV cert (planning to do so in the future anyway) and save the 30k + from uni. Also, completing a whole degree to just learn about which lender to use seems pointless in my opinion. Sorry if i came across sounding like this was my reason for doing finance.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,850

    A current course on offer through OTEN – Property Development & Investment

    It might give you a few pointers as to which directions you want to travel – covers feasibilities, performance, portfolio management, statutory regulations, maintenance plans,  presenting property reports etc.

    Profile photo of Bruce from BrisyBruce from Brisy
    Participant
    @bruce-from-brisy
    Join Date: 2010
    Post Count: 11

    HI Jason – please accept any typos as I quickly bashed this out for you.

    You can start when your 18 years old. You just need knowledge and drive.  A little money say $1000 even $1 yes $1 deposit if you know what you are doing. I am not a professional – just an investor. So take everything with a pinch of salt. I have done Steve McNights MEGA conference and packages, Dean Parker's package, Carly Crutchfield's CCorp Bootcamp and a few others like one day workshops with Mark Rolton . A few of these my son went to when he was 16 and got the bug. He is now 18 enrolled in Uni of Central Qld distance education program for Bach of Property. The quickest way to make money in my option is – when you're strapped for cash, is to do property options like what most property guru's inform us about. The big stuff comes later – developments etc. I encourage you to get along to a Mark Rolton's one day workshop for Property Options and he shall explain it clearly. In short, you have 3 people: Seller, option holder (that's you) and the buyer. Let's do an example – You find a great property that has its owner residing on 1000 sq metres. House on front with enough room to build say 4 townhouses on back. You have to do a lot of research first and take the guess work out. Go on RPData or INVESTAR – I personally like the latter because the former has about 6 search variables – whereas the latter has 33. Go to Council ask them that you are looking in a particular suburb/s and what is the Council wanting in that area – they may say high density housing – like say 2bed townhouses. Check the zoning via the coloured maps available online at council for free. Tis should narrow down your area. You hand write neat clear and concise personal letters to a bunch of owners from your chosen area. Don't go mad and write 100 letters because if half reply to you then you are in trouble. Write 20 or say a short street. That should get the neighbours talking – never under estimate the power of a chat at the fence or front garden while watering their vegie patch. You are looking for an expression of interest to sell their property. Once you have got some or a reply. Arrange a meeting. Dress neat and casual – take dad since he sounds like he knows what he is doing. Don't come across like some power hungry developer – be truthful, sincere, honest, polite and dress neat in good casual clothes. Ensure you are groomed – hair cut and don't forget to shave. More than likely your target audience shall be the top end of the baby boomers. That's born 1946-64. So demographically older single persons or couples – who may be thinking of moving into a retirement home etc.  Arrive out from 10 minutes early than meeting. now to the guts of the deal. There is a lot more that Mark Rolton can fill in – but here goes: You need to find out what the owner would like for the property – now let's be clear here, you would already know these details from your research and downloaded of one of those website the complete history of this house and all houses in street and similar in suburb. So you should know how much the house is worth within a $5000. So you will know more than most real Estate agents in their own work area. That is very important. Your seller may say I would like $290k to get a good retirement villa. You know the property is worth about same or maybe a little less. But you have done all your homework already. You say I would like to take an option on your property for $350k. I bet this get's their attention.  He isn't sure what that means. You have to have on hand all the documentation regarding an option. You explain in simple terms and allow them, if fact go along with them to their lawyer, to explain to the lawyer what you are proposing. You want to take an option on the property for $1000 refundable deposit. Basic the seller owns the property, but upon option taking, you control  it. You then take the option for 24months say. Find a builder or developer who is looking for land to build townhouses. You know the developer (buyer) can build these for 150k each x 4 = 600k. You want to sell the option for the property to the buyer for 100k. The buyer knows he is still going to make money….let's see. 350k for house (happy seller), say 100k for DA and improvements on existing dwelling, 600k for build of 4 townhouses, that's 1,050k costs to buyer + 100k for you the option holder selling the option to buyer. That totals 1,150k. He sells dwelling for – let's say break even 350k, and townhouses for 300k each that's 1,200k. Take debits away from credits and buyer makes 400k profit. More importantly you walk away with 100k less your $1000 dep the seller keeps. Not bad for a simple deal. There is a fair bit of work to do before this occurs but I hope this gives you an idea. Go for it. The IP or intellectual property on the option documents is passed onto you when you do the courses like Mark Rolton Bootcamp – check out his website and call them ask them when his next courses are on – Syd, Melb and Hold Coast this year. Mark doesn't know me really and I get nothing from mentioning this to you so he seems okay with his imparted knowledge on Options. The bootcamps are about 7k each. A lot of money not really when you consider what you are getting and where you can go from there. Educate yourself and go for it. My son is. All the best…Regards Bruce ps. I hope this gives you some insight. Age has no boundaries as long as you can legally sign a contract.

    Profile photo of Jason957Jason957
    Participant
    @jason957
    Join Date: 2013
    Post Count: 22

    Thanks for that. I have watched his DVD but do people actually accept 24 month options ? 

    How is he liking the uni course ? Is the knowledge about property investing  worthwhile or would other property investment cources be more worth while (eg: Steves IV and the OTEN course ? 

    Jason957

    Sutherland Shire Real Estate Agent - Jason Mikhail - 0402 640 630

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