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Investing Advice.

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lucas_in3

Posts: 8
Joined: 22/1/2007

Investing Advice.

Hi everybody. If anybody could point me to the right direction it will be greatly appreciated. I'm a 20-year-old male who is interested in REI. I have the startup money, but I’m wondering what should I do to start? I've studied and read books. I have some knowledge, but now I want to get into action.

Report Abuse | Date 21/6/2007 8:33:04 AM

patrick_in3

Posts: 8
Joined: 22/1/2007

RE: Investing Advice. (in reply to lucas_in3)

The first thing you need to do is to understand very well the market, neighborhoods and the property type you will be investing in, their idiosyncrasies, current situation, and dynamics that is where prices and rents are headed (up or down) - if you are going to be investing in what I call "bargain" properties you need a mentor experienced in this type of investing (I am not one of those) because you will encounter many details turns and situations that are not described by books...Get a good feel of the market before doing anything.

Best of luck,

< Message edited by Admin -- 9/11/2007 1:52:29 PM >

Report Abuse | Date 22/6/2007 7:12:19 AM

Jofstar

Posts: 1
Joined: 2/7/2007

RE: Investing Advice. (in reply to lucas_in3)

Cant agree enough with Patrick. There are so many bad deals in this market that it is easy for a first time investor to get ripped off.

You need to consider your investment like a business. Get good legal, tax and accounting advice. Get the support of a good banker (a traditional one, not the 20 year old relationship manager at your local branch).

Really, really get a good grip of the area and type of property you are investing in. These boards contain loads of people working in the same space and they are always happy to share their views. If you can talk to other landlords and agents in the same area. Ask them about the local trends.

Finally think about your end tennants. Have a look and see if the population is growing, shrinking and what they are looking for. Think about the social trends outside of the property market and how they might effect you. Get a view on the regualtory changes effecting investors, landlords, property developers etc etc etc.

Before you start you have the endless resource that is time. Use it wisely to do your research. Once you start spending money it's too late.

Report Abuse | Date 3/7/2007 4:01:02 PM

paul99

Posts: 29
Joined: 20/5/2007

RE: Investing Advice. (in reply to lucas_in3)

I have to echo the sentiment , research more, and more research! There are all sorts of resources on the net, do a google search for property forums for example. Inside Track specialise in property investment education, particularly buy-to-let - We produce a free newsletter with hints and tips on the current market, and we also hold regular workshops accross the country - These are free to attend and there's no obligation whatsoever to take anything further. They serve as a general overview of the industry and offer all sorts of useful nuggets of info - best of all is the opportunity to chat to experienced investors who have already made a success from property, you can't beat one-to-ones for those little gems of knowledge and the real lowdown on the current market. Come along to one, there's no obligation to take it further so what's to lose... Best of luck

< Message edited by Admin -- 9/11/2007 1:52:45 PM >

Report Abuse | Date 5/7/2007 12:44:44 PM

YOURFRACTION

Posts: 5
Joined: 5/7/2007

RE: Investing Advice. (in reply to lucas_in3)

Very popular game to get into and as everyone has stated do your homework

I have been at it for 25 years and always went after areas that were a bit poorer socially but where the proerties were well constructed I tended to stick to row housing that needed some work.

If you have any particular questions email me and I would be happy to help

Report Abuse | Date 5/7/2007 7:57:52 PM

shaw45

Posts: 3
Joined: 1/8/2007

RE: Investing Advice. (in reply to lucas_in3)

Hi
I am glad to hear about your interest on the REL.
I advice you for a UK property investment Book
UK Property Investment System - Big, Fast Profits, Every Single Time

Which is very interesting try for that !

< Message edited by Admin -- 9/11/2007 1:53:09 PM >

Report Abuse | Date 1/8/2007 6:20:54 AM

TheBestPropetryCompany.com

Posts: 4
Joined: 12/2/2008

RE: Investing Advice. (in reply to lucas_in3)

Most of the knowledge is here on the net!
the hard and most exciting part is the implementation of it.
Good luck!
Robert Soltanie

Report Abuse | Date 12/2/2008 2:16:46 PM

metastu

Posts: 2
Joined: 29/4/2008

RE: Investing Advice. (in reply to lucas_in3)

I agree. There is so much info on the web that can help you. I would make sure you're well informed before you get stuck in. One such article that might be worth a read is:

7 things a property investor should know

All the best!

Report Abuse | Date 29/4/2008 4:00:13 PM

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