{"id":3428,"date":"2015-02-18T01:00:39","date_gmt":"2015-02-17T14:00:39","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=3428"},"modified":"2015-02-18T01:00:39","modified_gmt":"2015-02-17T14:00:39","slug":"advice-for-start-up-investors","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/advice-for-start-up-investors\/","title":{"rendered":"Advice for start up investors"},"content":{"rendered":"

 
\nIn today’s show\u00a0buyers agent\u00a0Josh Masters<\/strong>\u00a0gives some advice to\u00a0start up investors. He\u00a0says start small, focus on a single outcome and only settle for the best.<\/p>\n

Transcript<\/h4>\n

Kevin<\/b>:\u00a0 You\u2019ve been to those seminars, you\u2019ve read heaps of books, and you\u2019re all fired up. Maybe you\u2019ve got your plan together, but quite often, the temptation is to not start in gently \u2013 in other words, just bound in. I\u2019ve actually seen people who want to become developers overnight.
\nJosh Masters has written a bit about this. Josh is from BuySide.com.au. He joins me.
\nGood day, Josh.
\nJosh<\/b>:\u00a0 Good day, Kevin. Thanks for having me.
\nKevin<\/b>:\u00a0 You see this reasonably often, do you, that people want to get in, boots and all?
\nJosh<\/b>:\u00a0 I do see it often. When people get involved in property, they\u2019re very passionate about it, and that\u2019s fair enough. I think I have to be guilty about jumping in boots and all before. I think I\u2019ve probably had eyes bigger than my belly and wanted to get in, learn all the courses, and learn all the ways that you can make money.
\nSometimes you really can miss the fundamentals of what it really takes to grow a portfolio. Start small and just really understand the process, understand really how to buy property, how to get in and do the due diligence and really assess, or even just the basics to get started before you really get out there and start working on more advanced strategies.
\nKevin<\/b>:\u00a0 Yes. I\u2019ve heard the saying, \u201cBite off what you can and chew like hell\u201d but it doesn\u2019t really work. I think the other thing, too, Josh, is that I\u2019ve been to many seminars and read lots of books, and they\u2019re all written by very talented people. You go out and hear these speakers and the temptation is, \u201cGee, they make it look so easy; I can do this.\u201d
\nJosh<\/b>:\u00a0 Yes, absolutely. You find the experts out there are experts because they have gone into their field and they did start small, but they developed along the way and they went very deep into a particular strategy. If you go deep into any strategy that makes money, eventually you will do well and you\u2019ll become the expert in that field.
\nThey do make it look easy. All the marketing material is fantastic, and what I\u2019ve found is that a lot of people get glitter in the eye and then they realize how much work actually goes into something like this. With all due respect to the teachers out there, they\u2019re doing a great job in the property markets, but knowing it and learning it can be two very different things.
\nKevin<\/b>:\u00a0 Yes. Another confusing thing, too, I find is that there are so many strategies for making money and they\u2019re all relevant but they fit different people, like buying hold options, renovating, flipping, developing and selling. How do you find the right focus?
\nJosh<\/b>:\u00a0 That\u2019s a good question. Sometimes, without getting a little bit woo-woo, it\u2019s about what calls to you at that time. I know some people love renovations. I was an interior designer before this, so it really made sense to me to do renovations. That really appealed to me, and I loved it. I\u2019ve done Cherie Barber\u2019s course. I know Cherie\u2019s coming on later on. It was just fantastic, and that really resonated with me.
\nThere will be other people out there who really love the contract side of it and they\u2019ll be able to look at things and get a town planner involved and maybe do what it takes on paper to maybe subdivide a block or do an option. That\u2019s a strategy in itself. But I think it has to suit your lifestyle at the end of the day.
\nKevin<\/b>:\u00a0 Yes, it does, and it\u2019s got to fit your risk profile, as well. The other thing too, I find \u2013 and Michael Yardney, who is a regular on our show, talks about this all the time \u2013 is about buying the best. Just make sure that you\u2019re hold out. Do you agree with that?
\nJosh<\/b>:\u00a0 I absolutely do agree with that. Property is not like the share market. It\u2019s very much a long-term game, and if you\u2019re going to buy a property, you really need to be looking at least 10 years in advance. When I look at properties \u2013 and my clients, as well \u2013 I say, \u201cWould I be happy to own this in 10 years\u2019 time? Would I be proud to own this? Is this an area that\u2019s going to be still up and coming, it\u2019s not a flash in the pan?\u201d
\nThat\u2019s where you really make your money because if you can hold it for 10 years and then the next 10 years following, the leverage that you get, the compounding growth, that\u2019s where it really starts to take hold, and you really build wealth from that.
\nKevin<\/b>:\u00a0 Yeah. Josh, great talking to you as always, mate. I appreciate you giving us your time.
\nJosh<\/b>:\u00a0 My pleasure, Kevin.
\nKevin<\/b>:\u00a0 Josh is from the website BuySide.com.au. Josh, thanks again for your time, mate.
\nJosh<\/b>:\u00a0 Thanks for having me.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

  In today’s show\u00a0buyers agent\u00a0Josh Masters\u00a0gives some advice to\u00a0start up investors. He\u00a0says start small, focus on a single outcome and only settle for the best. Transcript Kevin:\u00a0 You\u2019ve been to those seminars, you\u2019ve read heaps of books, and you\u2019re all fired up. Maybe you\u2019ve got…<\/p>\n","protected":false},"author":176692471,"featured_media":1765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,25],"tags":[101],"class_list":["post-3428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-sponsored-channels","tag-podcast"],"yoast_head":"\nAdvice for start up investors - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/advice-for-start-up-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advice for start up investors - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  In today’s show\u00a0buyers agent\u00a0Josh Masters\u00a0gives some advice to\u00a0start up investors. 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