How you educate yourself? Looking for good real estate magazines / online resources

[chilling]

Hi folks!

Additionally to my previous post I would like to find out how you generally educate yourself and how you stay updated regarding the developments on the international real estate markets. Is there maybe an "Economist" for real estate markets or something similar? Any good websites? Also, can you recommend any other forums? Also I'd be interested in any good books for a novice!

Btw. I'm a student from Germany, and about to finish my Bachelor in Economics. I'm planning to do a Master in Real Estate Finance and Investment afterwards and like to pursue a career in the investment field. My dream of course is to do my own investments as soon as possible and to run my own business. But first things first

I'm looking forward to interesting discussions and making new contacts!

Fabian

[Pippin]

Originally Posted by chilling

Hi folks!

Additionally to my previous post I would like to find out how you generally educate yourself and how you stay updated regarding the developments on the international real estate markets. Is there maybe an "Economist" for real estate markets or something similar? Any good websites? Also, can you recommend any other forums? Also I'd be interested in any good books for a novice!

Btw. I'm a student from Germany, and about to finish my Bachelor in Economics. I'm planning to do a Master in Real Estate Finance and Investment afterwards and like to pursue a career in the investment field. My dream of course is to do my own investments as soon as possible and to run my own business. But first things first

I'm looking forward to interesting discussions and making new contacts!

Fabian

It is against the rules of this forum to recommend other forums.
Anyone who does so risks getting banned so I would n ot ask anyone to name them.
You can google for others if you feel the need to look at others.

[Lysos]

Fabian, avoid the basic mistake of focussing on property in isolation; you need to look at it in the wider economic context.

[chilling]

Originally Posted by Lysos

Fabian, avoid the basic mistake of focussing on property in isolation; you need to look at it in the wider economic context.

Sure! but I still need to acquire specialized real estate knowledge somehow before making any investments?

[mickthepropertyguru]

Originally Posted by chilling

Sure! but I still need to acquire specialized real estate knowledge somehow before making any investments?

Many of the articles you see in papers cant really be trusted as most don't really know the industry well. And to be honest many are just blatant advertisements and financed by a company looking for exposure to a new product.
You really need to immerse yourself in forums, articles, papers, books and know how to sort the fact from fiction. There are many member on this forum that have extensive knowledge. It would be advantageous to look at their previous posts and take notes.

For me, though, i feel its better to get into consortium's that buy plots and sells them at a profit (hopefully) when the different levels of planning are granted.

Anyway you can also look at a countries GDP, Debt, growth and inflation to get an idea how different the economy is faring out. The FDI in that country/area etc. The countries outlook and stability - economically, geographically and spiritually. The tax system, the system wrt transferring money in and retrieving it back out again (Brazil), deeds procedure if any in result of fatality, inheritance procedures,


You can become familiar with the buying costs and selling cost, Tax etc of different countries pretty easily with google.


For me, when i get interested in an area,( after researching the country and different cities etc) research the infrastructure, the locality, the city, the employment, the type of industry there, what is the area/city doing to attract further growth and employment and which area is it leaning towards. What type of people are renting in different areas and why etc .
I print of a huge city map , mark where all the developments are, the amenities, the CBD, the good areas the bad, the transport system, congestion areas, possible areas that will grow in the future with investment and future infrastructure. The list goes on and on and is only part of the due diligence.
The development is the last thing you should look at but is equally important and is a whole new ball game.
I am really only scratching the surface but it may give you a starting block.

But one thing is for sure, when everybody is talking about a particular area/city than more than lightly you have missed the boat (in terms of appreciation anyway)
Sometimes the best investment can be on your own door step.
A property is only worth what you can sell it for and you haven't made any money till you sell it, if you sell it.
Investing is a continual learning curve and if one doesnt' enjoy or embrace the research part of investing than they are cutting short the future profit of their investment.
Investors invest in an area more so that a building.

[chilling]

Hey Mick thanks a lot for your detailed response, I really appreciate it! I definitely will have a thorough look to the other forum posts! Could you maybe also recommend any good books on the subject?

Many thanks,
Fabian

[Investy]

Chilling, really the old wise property buzzards Ive known never read any book to make money in property.

Just find an area, then research and research until you get a bargain but beware; Agents hate dealing with time vampires and tire kickers - thier time is no more free than yours so dont waste it or they wont help you

[chilling]

Originally Posted by Investy

Chilling, really the old wise property buzzards Ive known never read any book to make money in property.

Just find an area, then research and research until you get a bargain but beware; Agents hate dealing with time vampires and tire kickers - thier time is no more free than yours so dont waste it or they wont help you

Hi, thanks for your reply! I'm a bit surprised, how can you all are being successful investors without first gaining knowledge of books? I mean doesn't one somehow must start and learn at least how to assess house prices and find out various financing methods. How did you learn the basics?

[Investy]

Chilling

Its common sense. No harm in reading a few books I suppose.
You are German I think. I bought 2 properties in Germany. I just spent a long time comparing offers from the Immobiliers - you soon get a feel for the value spectrum in an area.

Stick to major cities for your investing, and probably steer clear of touristic property.

[chilling]

alright, thanks a lot for the input.

Just out of curiosity what is your background and for how long have you been investing?

Yes I'm from Germany, may I ask what your sources are to get information about the local markets here?