Hi all just wondering now that most of us are more involved in the course how everybody is finding it? I currently have no investment properties and am in the saving and education phase of things so that when I do invest I put my best foot forward. I am current 45 sections in and hope to have the reading down in the next 2 weeks to start the webinars and assignements.Being 25 I find that I have a huge step up on my friends co-workers etc from doing this course and when I talk to friends who are about to or already have invested you see how much my investing sophistication has improved ( although not currently investing) thus I think they course has paid for itself many times over. Now when I hear the words negtively geared I shiver and cringe. Being a physiotherapist I get to talk to complete strangers about what I have learnt or what they have done/not done in there investing which further helps put things into prospective.
My main thing I would like to hear about from people is
1) if you have already got investment properties has what you have been learning in this program improved your profitable help you set clearer goals, made you sell or buy to realise gains? Just generally for those out there with property how has this helped you so far.
2) for those who started with minimal property or none has any body brought their first property since doing this course and how did has the course helped them?
happy studies
vic
Although I am still a long way from buying my first property I now know heaps more than when I started in late January. The people around me are ignorant of what I am doing in this course commenting that it is too 'expensive' and what better job prospects are there for me. My reply is my future financial freedom not being reliant on a government pension. Negative Gearing is a flawed strategy in that it only works in a market that is going up not sideways or declining. In fact now that the tax thresholds have changed negative gearing has become an even more flawed strategy.
Im about half way through the written material of the course and starting to catch up on the webinars. Im in a similar situation to yourself - I currently do not own any investment properties, but Im looking to purchase in the next 6 months. The main benefit the course has given me is structure and drilling in the importance of planning (which has never been my strong point). When mentioning the interest in property investing to friends (or even strangers), everyone has their own opinions and recommendations (even if they dont own a single property) so before the course I was being dragged in many different directions. The course is giving me focus and direction which is something I very much need in the investing world.
My next step is to start looking for opportunities to buy...well, getting the confidence to start making offers knowing I have done my due dilligence. Im a couple of months off (I do have the deposit saved); but the course has helped me realised the huge importance of research and planning. Previously, I would have just jumped right in and not even done things like getting a building inspection or research on the suburbs. Sounds insane I know, but thats how eager I was to get in and get my first investment property. The course has turned this eagerness into a more structured and thoughtout ambition. The cost of the course is just a drop in the ocean compared to the money I was risking not having any type of structure or plan. Im a low income earner and at the time of enrollment I did get very nervious about spending what is to me a large some of money...but after working through course, the cost really is insignifficant.
I've not long been enrolled in the course but have been interested in property now for a very long time. When I say interested I love the tangable side of it, touch, change, reno etc... but never really, not at all actually interested in the numbers side of things, I'm very slow when it comes to numbers...That said, and now doing my home work on using the 2 properties that I have at the moment, I'm scared but excitedly pushing my self forward. I have the same issues as you guys do infact the same as most people here do. Support, I'm finding that people would rather talk about Master Chef/The Voice the appaling state of the Euro Zone and why isn't more being done??? I've come to the realization that it is you my forum family that will support me on this journey and I thank you for that. Can I say, don't be discouraged by others, stay focused (as hard as it is to do so), post here as often as you can and enjoy, we are going to make mistakes but as we're being taught, the more we learn, the less mistakes we're likely to make. Thank you for taking the time to read this and I lookforward to posting again very soon.
Gerrard.
1) if you have already got investment properties has what you have been learning in this program improved your profitable help you set clearer goals, made you sell or buy to realise gains? Just generally for those out there with property how has this helped you so far.
Prior to commencing course I had no IP
2) for those who started with minimal property or none has any body brought their first property since doing this course and how did has the course helped them?
I purchased first IP recently. Settled on 27 April. Since then i have been completely absorbed in a full house renovation. We have it to the point now it is on realestate.com.au advertising for a tennant. How did the course help me? 2 big words DUE DILLEGENCE. I am confident in the area I purchased in, they style of house I purchased, the price I paid for it, the renovation $ spent on it, and the realestate agent chosen to be PM. All of this confidence is directly attributed to my new found knowledge.
I purchased at under market value and competed a full reno and hope to have manufactured enough equity to assist financially in purchasing IP2.
I want to start my research on another area that I have a keen interest in investigating for IP2, but need to focus on catching up on course as i am WAY behind.
On a side note - I have also found that I have mixed reactions from those that I have discussed my apprenticeship with. Some feel that they are the expert and dont need to spend money on learning. Funly enough, one of those critics is my brother-in-law who owns no IP's and was looking at buying into north Brisbane. He did a complete backflip and decided to shop in the area I just purchased in, and admits that he knows nothing about the area but I got a good deal so it has to be a good location. He is driven to the thought that the only way to go is -ve geared properties. He is the kind of person that knows everything who will not entertain the idea that he could learn something.
Hi guys,
your posts are very encouraging to read - how other people are getting on and learning. I agree that the cost of the course seems very insignificant - given the solid amount of work and learning there is to do! I recently enrolled in some other courses that were even more expensive, but have yet to see if it was good value or not - I guess I think they might be and decided to invest in myself and give it a go with a couple.
I bought an investment property, new, negative geared, but I had a 20% deposit, just before I found out about this course. It seems okay, it got me over the fear factor of actually approaching a bank and signing a contract to buy, however, after what I have learned in this course, I would prefer now to look harder for an older property that I could add a bit of value to either now or in the future.
I have started to look for a potential renovater unit, but getting nowhere - everythingseems renovated already in the suburbs I look in, and it is really hard to get a handle on what the better price would be possible with renovation.
I am also looking at selling my own house, and it is frustrating trying to work out what to value add to it, without overcapitalising. It's in a growing area, but I think it will be the next owner who will reap the benefits, as I don't think it's goign to grow in my time frame.
There is a lot to learn from this course still to go which I hope will help me work out some stuff, instead of feeling confused and discouraged at times,
Beth
Finished reading all the sections just before the 3 day mega conference am just about caught up on all the webinars and have done the majority of module 1. Hope to have 2nd assessment done in the next couple of weeks and all completed by august 20th when I return home for a holiday for 3 weeks. Goals after that is to learn more about vendor finance and renovation as I am short on capital so will look to manufactor as much as I can in the short term. Hope everyone else is going well
The early bird catches the worm, but the second mouse gets the cheese.
I own a -ve IP which I brought prior to this course, and having learnt everything from the course I realised how bad it actually is, especially since it isn't even appreciating. I have now decided to try sell it through vendor finance to at least get some cash out of the whole ordeal. I have just sent in my second assignment and trying to charge through the 3rd module. I am hoping to buy my first real IP in october and do a cosmetic reno on it and start building my capital.
Financially free by 22/05/2017
Just read this line of posts and agree that this course is a good investment. When I compare it to what my uni course cost and the postential earning value that will result from that, it even looks better.
Roadhog260 - I love that you have a date set to be financially free by! The difference between a dream and a goal is setting the timeframe, so I guess you are well on your way!
Like Munmun5 I will also be looking to manufacture as much as possible to grow our capital base - but on reflection of the decisions made during the last few years I think we have sold the property that offered us the best possibility to manufacture profit - I was being lazy and avoided the work of thinking it through and carrying out the plan - yes I had Steve's book then and had read it throughly and convinced myself anyway that it was better to sell!
Cheers
Cherie
First assignment marked and returned and hopefully finish the 2nd this weekend or early in the week! Then on to the big on module 3. Small steps getting me there!
The early bird catches the worm, but the second mouse gets the cheese.
Hey all,
Just handed in my final assignment! Feeling on a high knowing that I did it... however I didn't attain my goals and time frames I set to hand it in. I have learnt alot from that like stop trying to take on too many things at once, how important smaller goals are and not to let external things dictate me ( I feel I slowed down once on the B2BFF meetings when I should have been pushing on to get 110% out of it) . I can safely say ( providing I pass!) that Steve's refund money ( post finishing the course and not being happy) is safely in his back pocket. Although I still don't own any properties I can tell you I will be successful in property and will keep pushing on to achieve all my goals. I hope everybody else is doing well with the course and their own investing journies!
Have a great weekend.
The early bird catches the worm, but the second mouse gets the cheese.