How to Invest in Residential Property?
Let’s be honest, there is no shortage of educational information on residential property investing!
So in writing this section, we are going to show you how to go about learning how to invest in residential property and try not to “re-invent the wheel”.
In time, we will write in more detail about how we invest in residential property ourselves, but this section will give you a starting point on improving your knowledge about residential property investing that we will help build upon further later on as this website develops.
So, here we go… !
It’s very hard to beat reading a really good book that you can easily purchase cheaply on an online bookstore like Amazon.com (or similar) to give you immediate knowledge on a topic in an organised manner.
We suggest reading the following books as a good starting point:
Don’t Sign Anything by Neil Jenman
Building Wealth Through Investment Property by Jan Somers
How to Grow a Multi-Million Dollar Property Portfolio by Michael Yardney
How to Create an Income for Life by Margaret Lomas
From 0 to 260+ Properties in 7 years by Steve McKnight
Smart Borrower’s Handbook by Stuart Wemyss
Neil Jenman’s book will give you a great insight into the residential property purchase process and the role and tactics of real estate agents in this; it really is a must-read before you buy any property and will help you control the process and not be taken advantage of by slick real estate agents.
Jan Somers’ book is a classic on residential property investing and will give you a good overview of this asset class as well as delve into some of the finer details.
Michael Yardney’s book will give you an insight into the importance of selecting the right type and location of residential property to invest in, and with a strong focus on capital growth as the primary strategic focus.
Margaret Lomas and Steve McKnight’s books both have a slant to wards cash-flow positive and/or positively geared residential property investments that will provide you with an alternative view to that provided by Michael Yardney.
And Stuart Wemyss’ book will give you a detailed understanding of how to finance residential property investments in the most appropriate way.
There are also a number of magazines that you can subscribe to that have interesting articles and stories of other investors’ experiences, as well as statistics like median prices and rental yields, such as:
Australian Property Investor
Smart Property Investment
Your Investment Property
You might find that after reading a lot of these magazines some of the content may get a bit repetitive, and if so, you can stop reading them!
More on-the-ground and practical information can be found at online discussion forums.
The Somersoft Property Investors Forum and Steve McKnight’s PropertyInvesting.com are two that are well worth signing up to.
And Michael Yardney’s Property Investment Update blog also has lots of useful articles from several property experts and commentators.
Although all of the above resources can be great in building up your knowledge and understanding of residential property investing, nothing beats actively looking for properties and attending open for inspections and auctions.
A starting point for this then are the residential property search engines like:
www.realestate.com.au
www.domain.com.au
www.realestateview.com.au
For sales price data the following websites are also useful:
And once you are ready to buy a property the following websites are useful to help compare and monitor home loan interest rates:
And this stamp duty calculator will help you calculate the relevant stamp duty amount for your property purchase in different states.
We hope this provides you with a good starting point on your path to learning how to invest in residential property.
As mentioned earlier, we will be adding more content and providing more specific and detailed guidance to you on this topic later on as this website develops, so stay tuned!
Read How to Invest in Shares? next…
chris lee - April 24, 2015, 12:12 PM
great article, thanks, very useful
Editor - April 24, 2015, 5:38 PM
Thanks chris lee, glad you liked it!
steve - April 24, 2015, 12:14 PM
Just to shart with you about the new website I am using for searching the house sold prices http://www.getsoldprice.com.au
Editor - April 24, 2015, 5:40 PM
Great thanks for sharing that link Steve. I can add it to our website links page.