Financial planners and investment advisers tell you to diversify and help you with planning, managed funds, shares, indirect property investing and more. But If you’re interested in direct property investing, it’s up to you to find your own way through the real estate investing maze.
In 2003 part of my investment planning involved a seminar in Queensland to get some investing information and advice. The promise was to help you decide how to diversify and whether to invest in property, shares or both. My husband and I had started a property and share portfolio, but wanted to be sure we were on track and had a good strategy with enough diversification.
“you’re not living the life of your dreams, let’s get a bit of group bonding and motivation going (turn up that music!),
so all you need to do is “think and grow rich”, just see how easy it is to do (break this arrow with your bare neck), buy our system”
…. sound familiar?
It broke my heart seeing mum and dad investors mortgaging their homes for tens of thousands of dollars worth of dodgy investment coaching.
So, a mercy call to my brother – to the rescue and escape. We had a lovely drive to a gorgeous village on the coast, as he was looking to buy a fishing boat. A few weeks later, and after some research, we bought two investment properties in the village.
It reinforced our decision to invest in real estate, perhaps not the way planned – but at least we were well on the path. Of course the money- back guarantee was worthless – ASIC and ACCC were no help either (small price to pay – less than $100, lessons learned, and we did get to visit our Queensland family).
I’ll cover specific tips on investing plans and strategies in future posts.
Tips and Tools:
- To help you in times of change – see BiG’s Investing and Moving Cheese
- To help you set your sites clearly and deal with life not going to plan – check out Dr Darryl Cross ‘s (Clinical and Organisational Psychologist) short video Life is a Zig Zag
- Explore BiG for more ideas in the areas interesting to you, the Gurus and Guru Cops can help you avoid the dodgey ‘experts’