Want to invest in property
 

I'm new here, and I'm considering investing in property. However, I don't want to make any big mistakes. I was wondering if anyone has good advice on this topic. I've heard of many different ways, but I could really use some pointers in the right direction.

If you have any advice for a newbie, or some books you recommend, I'd be grateful!

Thanks, Lea

Re: Want to invest in property
 

> I'm new here, and I'm considering investing
> in property. However, I don't want to make
> any big mistakes. I was wondering if anyone
> has good advice on this topic. I've heard of
> many different ways, but I could really use
> some pointers in the right direction.

> If you have any advice for a newbie, or some
> books you recommend, I'd be grateful!

> Thanks, Lea

A great discussion for real estate investing is
is creonline.com

My general advice is do a cash on cash analysis
compare all your costs like purchase, repair,holding cost, closing cost and down payments to your net profit. Rule of thumb is
make sure you are getting at least 10% annual return on your money.

why?

Because you could take your cash and invest in a no load index stock fund and expect 10% return without having do anything whereas real estate you are taking on a part time job so you need to get paid more to make worthwhile.

Make sense?




real estate investing advice

Re: Want to invest in property
 

Thank you, that looks like a very informative web site! I could spend hours there! By the way, do you know any good books I should read too?

Also, thank you for the advice, it makes sense to me. I still have a lot to learn about this.

Lea

> A great discussion for real estate investing
> is
> is creonline.com

> My general advice is do a cash on cash
> analysis
> compare all your costs like purchase,
> repair,holding cost, closing cost and down
> payments to your net profit. Rule of thumb
> is
> make sure you are getting at least 10%
> annual return on your money.

> why?

> Because you could take your cash and invest
> in a no load index stock fund and expect 10%
> return without having do anything whereas
> real estate you are taking on a part time
> job so you need to get paid more to make
> worthwhile.

> Make sense?

Re: Want to invest in property
 

> Thank you, that looks like a very
> informative web site! I could spend hours
> there! By the way, do you know any good
> books I should read too?

> Also, thank you for the advice, it makes
> sense to me. I still have a lot to learn
> about this.

> Lea

Hi Lea,

That's a good question. One of the books I like is the book "Rich Dad Poor Dad", by Robert Kiyosaki, and its sequels. By the way, I also have his game "Cashflow 101" which will give you an overview of how to invest in property. I think it's a great way to get started. :)

Apart from that, I also have some stuff by John Burley, it's quite good. What I have is written specifically for the Australian market, but he must have materials for the US market too (of course). I'd also check out his materials.

I hope this helps Lea. :)

Best wishes,

Dien