Forums / Property Investing / General Property / Whats your number one lesson learnt from property investing

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  • Profile photo of SteveSteve
    Participant
    @steve70
    Join Date: 2015
    Post Count: 10

    With so many experienced investors on this forum utilising many different strategies I would be interested in learning the number one, golden rule or advise that you have picked up on the way. For me, noting I have a buy and hold strategy (so long term approach), I will not purchase in a location unless it is supported by a min of three independent forms of employment. This has stopped me buying in towns which are reliant on the resource sector, but have still bought in regional cities like Townsville and Wagga Wagga in the past.

    This allows me to deal with the long term risk of demand.

    Would be interested to hear about other peoples rules or lessons learnt along the way.

    Cheers

    Steve

    Steve
    Email Me

    The devil is in the detail, always ask why?

    Profile photo of bender12bender12
    Participant
    @bender12
    Join Date: 2014
    Post Count: 1

    Hi Steve, my main strategy is :

    1. Build a large cashflow positive asset base
    2. Let the power of inflation/compounding do the work

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 11,992

    Agree with bender.

    3. Pay the investment debt off and live off the increasing rental income forever.

    Cheers

    Yours in Finance
    0-40 Properties in a decade. Ask me how.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
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    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 MTRMTR
    Participant
    @marisa
    Join Date: 2004
    Post Count: 663

    Timing is everything, making money in property is all about supply vs demand.

    Profile photo of jmnes12jmnes12
    Participant
    @jmnes12
    Join Date: 2015
    Post Count: 20

    Agree with MTR. Your money is made in the timing of the buy in the cycle. Buying at the top keeps you at the bottom for a long time!

    Profile photo of RamRam
    Participant
    @therealram
    Join Date: 2009
    Post Count: 15

    Every investor needs to do their reseaarch, understand pros and cons, and get the best possible team of experts on their side.

    Profile photo of XeniaXenia
    Participant
    @xenia-alexarealestate
    Join Date: 2015
    Post Count: 21

    Property investing was the beginning of my personal journey to self development.

    At the end acquiring properties was just the tangible result of becoming a bigger person.

    Xenia | Alexa Real Estate Pty Ltd
    http://www.alexarealestate.com.au/
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    Adelaide Property Manager

    Profile photo of OriginalsinnerOriginalsinner
    Participant
    @originalsinner
    Join Date: 2005
    Post Count: 79

    Check out what houses are selling for before you buy.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,065

    Don’t over analyse to the point where you don’t do anything.

    I’ve seen people “think” about investing for a number of years – during that time, they’ve missed out on the upswing of a property cycle and are now “waiting” for prices to drop.

    It’s important to do your research/due diligence – etc, but at some point, you need to put that research into action otherwise it’s pointless.

    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 BuyersAgentBuyersAgent
    Participant
    @knightm
    Join Date: 2005
    Post Count: 313

    Timing and Time in both matter to me. The property cycle and tracking the ripple effect from larger markets out to smaller ones makes timing buying decisions easier.

    Adding value with renos and development is great for speeding things up if you don’t mind putting in the time to learn it.

    Building a great team of specialists in their fields makes the whole thing easier and faster. I could manage my own loans and haggle with banks, but why bother, when a good broker will do a better job and always be “on the pulse”.

    And picking really good property managers is essential or you will hate the journey.

    BuyersAgent | Precium
    http://www.precium.com.au
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    South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW

    Profile photo of BuyersAgentBuyersAgent
    Participant
    @knightm
    Join Date: 2005
    Post Count: 313

    Check out what houses are selling for before you buy.

    This is probably one of the most important things when I think about it!

    BuyersAgent | Precium
    http://www.precium.com.au
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    South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW

    Profile photo of JaneJane
    Participant
    @ppginternational
    Join Date: 2015
    Post Count: 3

    Property investment is one of the best decision to secure your future. Before buying a property you must understand the property cycle and you should be responsible enough to manage your property.Benefits of investing property include the security of bricks and mortar and rental income.

    Profile photo of LoganLogan
    Participant
    @glenmore
    Join Date: 2015
    Post Count: 8

    Don’t over analyse to the point where you don’t do anything.
    I’ve seen people “think” about investing for a number of years – during that time, they’ve missed out on the upswing of a property cycle and are now “waiting” for prices to drop.
    It’s important to do your research/due diligence – etc, but at some point, you need to put that research into action otherwise it’s pointless.
    Cheers
    Jamie

    Agree with Jamie. Once you have done your DD, sometimes the hardest step is coming up with the guts to implement.

    Profile photo of dboyle794dboyle794
    Participant
    @dboyle794
    Join Date: 2015
    Post Count: 7

    Build lasting relationships with your team. Broker, Accountant, Bank manager, Property managers and most importantly property agents. They will remember a friendly face :)

    Profile photo of TimTim
    Participant
    @gotimbain
    Join Date: 2015
    Post Count: 1

    There’s a lot here to chew on, thanks for the advice!

    Profile photo of daniel vicdaniel vic
    Participant
    @daniel-vic
    Join Date: 2013
    Post Count: 120

    my biggest lesson was to or is get education on what you want to achieve had I got education and not listened to a slick dressed sales pitch I wouldn’t have bought in Gladstone and lost 150k of equity and got a negative cashflow to live with.
    I now no education is very important to understanding what and why you want to achieve it look you stil might want to engage a buyers agent I do their services could be useful if you were wanting to buy interstate because at times that’s where the best buy is at the currant time would be …
    SO MY 1 NUMBER ONE LESSON IS EDUCATION
    steve McKnight has a great course the property apprenticeship http://www.propertyinvestortraining.com.au/

    Profile photo of Carlr MathewCarlr Mathew
    Participant
    @carlrmathew
    Join Date: 2015
    Post Count: 1

    Hi Steve
    According to me, investing in property is a great deal. It will help you in your future. But this is again a fact of time because sometimes when the market falls then the investor has to face a lot of problems. Again, there are not too much issues which an investor can’t bare because its a phase which get resolve after a while.
    Also, it is important that you maintain a relationship with your team so that at good and at bad time, everyone should stand by with you.

    Take care friend

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