How To Increase Your Property Investment Knowledge
1. Read books
This is a great way to get started as books can teach you some of the important fundamentals of property investment, or simply refresh your existing knowledge and provide renewed motivation.
Focus on books/authors that you can relate to (as every author is different). You will naturally find that you gravitate towards some styles of writing more than others.
Recommended Reading:
- Rich Dad, Poor Dad – Robert Kiyosaki
This book is often referenced by many people as the source from which they first learned about investing. It is not directly about property but focuses on the mindset required to build wealth over time.
- Get A Financial Grip – Pete Wargent
Great insights into taking control of your finances and learning how to start investing and begin your journey towards financial freedom. Pete also has a number of other good books that follow on from this.
- Building Wealth, Story by Story – Jan Somers
This is an oldie but a goodie – the principles discussed are timeless and are broken down into short easy-to-read segments.
These are just some great examples, there are many others you can find out about with a quick Google search.
2. Subscribe to a property investment magazine
These can give you great examples and stories of real-life investors and the strategies they have used. Each property investor is unique and will have a preferred approach (e.g. long term buy and hold, renovating and flipping, developing, regional focus, capital city focus). These magazines also provide monthly data reports on a suburb-by-suburb basis which you can use for your own research.
There are often regular contributors who come from a variety of backgrounds and can provide specialist advice or handy tips and tricks - property experts, financial advisors, mortgage brokers, renovation experts, builders and tax professionals. Of course with anything you read you should also do your own research as not all advice is created equal!
Example:
Your Investment Property Magazine
https://www.yourinvestmentpropertymag.com.au
3. Read online forums and blogs, listen to podcasts
Forums are a useful source of information and a good way to interact with like-minded property investors. Blogs can provide more up to date information and in a more compact format than a book (regular short articles such as this one!).
Blog Examples:
Property Chat – Austrlian Property Investment Forum
www.propertychat.com.au
This Blog
http://micahkgproperty.blogspot.com.au/
Pete Wargent Blog
http://petewargent.com/blog/
Michael Yardney Blog
https://propertyupdate.com.au/category/michael-yardney-property-investment-expert/michael-yardney-blog/
Podcast are a different way to learn, you can listen while you exercise or while you drive to work. Some examples I have listened to:
Everyday Property Investing - Karen Young
http://www.everydaypropertyinvesting.com/
The Property Couch - Bryce Holdaway and Ben Kingsley
http://thepropertycouch.com.au/
4. Use local council and service websites
These are useful resources to find more information on an area or individual property. Most councils have good property portals and town planners that you can call to discuss further details. Online you can look up zoning, flooding, overlays, underground services and much more.
Example:
Brisbane Council City Plan
http://cityplan2014maps.brisbane.qld.gov.au/CityPlan/
5. Attend seminars/conferences and meet with other property investors
You will find there are a lot of property related events (often for free) that can improve your knowledge and give you new ideas. Don’t be afraid to pay a little bit of money for good advice (I would rather attend a ticketed event with impartial advice than a “free” event with a sales/upsell focus).
Again, not all events are created equal so watch out for “get rich quick” schemes and property spruikers! If it sounds too good to be true, it often is. Try and follow the money trail and determine how someone is being paid – hint: if they are not being paid by you (and only you), then they may not be acting independently and could have a hidden agenda! Success in property investment most often comes from a slow and steady accumulation of quality assets over the long term.
6. Talk to the professionals
Solicitors, mortgage brokers, accountants, financial advisors, real estate agents, builders, buyer’s agents, building inspectors and other professionals can be a great source of advice. These people work in property on a daily basis so are likely to have experience in a wide range of situations.
Try and absorb some of their knowledge and if you don’t know something – ask! Everyone starts somewhere and you can’t be expected to know everything straight away. Leverage other peoples time and expertise to help yourself get ahead!
This is a great way to get started as books can teach you some of the important fundamentals of property investment, or simply refresh your existing knowledge and provide renewed motivation.
Focus on books/authors that you can relate to (as every author is different). You will naturally find that you gravitate towards some styles of writing more than others.
Recommended Reading:
- Rich Dad, Poor Dad – Robert Kiyosaki
This book is often referenced by many people as the source from which they first learned about investing. It is not directly about property but focuses on the mindset required to build wealth over time.
- Get A Financial Grip – Pete Wargent
Great insights into taking control of your finances and learning how to start investing and begin your journey towards financial freedom. Pete also has a number of other good books that follow on from this.
- Building Wealth, Story by Story – Jan Somers
This is an oldie but a goodie – the principles discussed are timeless and are broken down into short easy-to-read segments.
These are just some great examples, there are many others you can find out about with a quick Google search.
2. Subscribe to a property investment magazine
These can give you great examples and stories of real-life investors and the strategies they have used. Each property investor is unique and will have a preferred approach (e.g. long term buy and hold, renovating and flipping, developing, regional focus, capital city focus). These magazines also provide monthly data reports on a suburb-by-suburb basis which you can use for your own research.
There are often regular contributors who come from a variety of backgrounds and can provide specialist advice or handy tips and tricks - property experts, financial advisors, mortgage brokers, renovation experts, builders and tax professionals. Of course with anything you read you should also do your own research as not all advice is created equal!
Example:
Your Investment Property Magazine
https://www.yourinvestmentpropertymag.com.au
3. Read online forums and blogs, listen to podcasts
Forums are a useful source of information and a good way to interact with like-minded property investors. Blogs can provide more up to date information and in a more compact format than a book (regular short articles such as this one!).
Blog Examples:
Property Chat – Austrlian Property Investment Forum
www.propertychat.com.au
This Blog
http://micahkgproperty.blogspot.com.au/
Pete Wargent Blog
http://petewargent.com/blog/
Michael Yardney Blog
https://propertyupdate.com.au/category/michael-yardney-property-investment-expert/michael-yardney-blog/
Podcast are a different way to learn, you can listen while you exercise or while you drive to work. Some examples I have listened to:
Everyday Property Investing - Karen Young
http://www.everydaypropertyinvesting.com/
The Property Couch - Bryce Holdaway and Ben Kingsley
http://thepropertycouch.com.au/
4. Use local council and service websites
These are useful resources to find more information on an area or individual property. Most councils have good property portals and town planners that you can call to discuss further details. Online you can look up zoning, flooding, overlays, underground services and much more.
Example:
Brisbane Council City Plan
http://cityplan2014maps.brisbane.qld.gov.au/CityPlan/
5. Attend seminars/conferences and meet with other property investors
You will find there are a lot of property related events (often for free) that can improve your knowledge and give you new ideas. Don’t be afraid to pay a little bit of money for good advice (I would rather attend a ticketed event with impartial advice than a “free” event with a sales/upsell focus).
Again, not all events are created equal so watch out for “get rich quick” schemes and property spruikers! If it sounds too good to be true, it often is. Try and follow the money trail and determine how someone is being paid – hint: if they are not being paid by you (and only you), then they may not be acting independently and could have a hidden agenda! Success in property investment most often comes from a slow and steady accumulation of quality assets over the long term.
6. Talk to the professionals
Solicitors, mortgage brokers, accountants, financial advisors, real estate agents, builders, buyer’s agents, building inspectors and other professionals can be a great source of advice. These people work in property on a daily basis so are likely to have experience in a wide range of situations.
Try and absorb some of their knowledge and if you don’t know something – ask! Everyone starts somewhere and you can’t be expected to know everything straight away. Leverage other peoples time and expertise to help yourself get ahead!
If you want to get in touch, please send me an email:
micahkg@gmail.com
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