Dear {:firstName},

When you start out in property, you are your greatest risk.

Make no mistake, what you don’t know, will hurt you.

Your lack of knowledge, experience and skill is as great as it will ever be.

If, however, you are fortunate enough to have or seek out a wise mentor at the beginning, and be smart enough to listen… hopefully you’ll avoid many mistakes for the unwary, or as I say, 'dodge many bullets'.

I was not so fortunate.

My first property I bought in 1994 went well enough. It was a 2-bed, 1-bath, plus car space unit in Cronulla for $152,000. I had just started my gym in Cronulla with my brother, and we lived in this property for a long time. We cosmetically renovated this unit many years later and sold it for $382,000 around 2009.

Not a bad result, all things considered, for my first go.

During that time, around 2001, I also bought my first investment property, two in fact. I bought them brand new, through a slick ‘mum and dad’ property investor ‘club’ that was little more than a two tier marketer in hindsight.

I paid $299,000 each for both of these 2-bedroom, 2-story apartments in Parramatta, off the plan at the time. They ended up being severely negatively-geared, well over-priced and I sold them more than 10 years later for around $307,000.

What I didn’t know, hurt me. I didn’t do my homework; I didn’t know what homework to do; I trusted people unworthy of my trust. They even got a $16,000 per property marketing fee to sell them to me.

I lost money when I bought them (paid too much).

I lost money while I held them (rent didn’t cover interest and outgoings).

I lost money when I sold them (after agent’s commission, marketing fees etc).

Not to mention the opportunity costs over those 10 years!

And you know what, I am so grateful for that experience! It’s one of the main reasons why I do what I do today. :)

And, if I was starting out again, here’s what I would do:

  • go for lower priced properties regardless of what I could afford. If I couldn’t afford my own area, I’d shift areas.
  • go for properties at or below the average price for that area.
  • go for established properties in established areas (less risk, more certainty).
  • go for houses, not units (land appreciates, buildings depreciate).
  • go for properties selling below market value (if I couldn’t, I wouldn’t buy).
  • go for properties I could cosmetically renovate at first, structurally renovate later, or in fact, subdivide.
  • I’d repeat that, over and over again.

For first-time, or even seasoned investors in these very interesting economic times, buying a well located, established, but cosmetically tired property that you can cosmetically renovate is a smart, lower risk and potentially very rewarding investment to make.

When you’re starting out, you are your greatest risk. Do your utmost to eliminate that risk. Here’s how…

** SEE Cherie Barber Live - next week! **

Let Australia’s Renovation Queen and TV Celebrity Renovator, Cherie Barber share with you many of the tips and tricks of successfully making money through property investment and renovations.

This 3-Hour event is free to our subscribers and back by popular demand.

But don’t delay. Due to Cherie’s TV commitments both here and in the US I can’t guarantee that you’ll get a second shot at this dedicated event…

Claim your tickets as our Free Gift Of The Month. Note: Seating is strictly limited and all but booked out…!

Also, check out this month’s video tips below from our experts as well as a special interview I did with Therese Kerr on your greatest from of wealth - your health.

Get educated now.

To Your Success,

P.S. You may also want to forward your April newsletter to a friend.

 

Cashing In On Cabinetry

Australia’s Renovation Queen shares quick tip for all her fellow renovators on how you can be strategic with your cabinetry purchases.

 
 

The Power Of Zero

Enjoy this month's wealth tip from Dominique as she explores the concept of constantly moving forward, and how the 'Power Of Zero' gives you limitless potential.

 
 

The Profitable Property Process

Discover insights into Bob’s formula for making a profit through property development. This month, he looks at phase one - Positioning your development correctly.

 
 

Relying On Old Or Outdated Info

While the idea of receiving free information on the market seems appealing, John explains how old, outdated information can be perceived as current/relevant however can cause you issues.

 
 

Monthly Market Wrap

It has been an exciting month on Wall Street with some volatility creeping in, which has seen a falling US dollar. Watch Daniel’s video to get a wrap on all major share market movement.

 

Therese is the founder of Divine by Therese Kerr, a company dedicated to creating certified organic, healthy and cruelty-free cosmetics and oral hygiene products.

In this video, enjoy a powerful insight into human health and the importance of managing the things we put on our body as much as what we put in our body. Watch video here.

 
 

Tumai, Dean and mother Jessie attended my Property Conference looking to break free from the 9-5 grind. This family genuinely touched my heart and I can't wait to see where the journey takes you.
Watch their video here

Daniel from the Gold Coast down to Sydney to attend 'Stuart Zadel's Leadership' last weekend and he was blown away by the amount of knowledge and experience he has taken away from the event.
Watch his video here

 

This lovely gift pack from Mal in Victoria included an beautiful hand-written message expressing his gratitude towards my team and I.

He also shared his personal journey, along with a mix of inspirational quotes and sayings. My humble appreciation and thanks Mal.


Ishmael

‘Ishmael’ by Daniel Quin is an enlightening story about a man in search of the truth.

Within the pages of this book, you will take a deep look into the evolution of human life, the earth and its laws, and the ways in with the revolution of man continues to impact the very thing we see as life.

The novel was awarded the $500,000 Turner Tomorrow Fellowship Award in 1991, a year before its formal publication.






   

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