Book Review: Investing in the Right Property Now!
Find out how to be a sucessful property investor.
Margaret Lomas is an icon within the property investment market and for this reason I chose to review her book ‘Investing in the right property market now!’
There are a host of people writing books in this field, and some are more interested in promoting overpriced property. A smart way to choose a book of reference on this topic is to research the author on the Money Smart (ASIC) website. I found this video on ‘getting rich through property investment’ and this video on ‘property spruikers seminars investigated,’ particularly insightful.
Having won the Telstra NSW Business Woman of the Year and Westpac Business Owner of the Year, not to mention hosting two television shows, I believe that Margaret Lomas’ credentials make her a leading expert in the field of Australian property.
What I liked most about this book is that Margaret gives you a road map of how to find a property that is most likely to give you both cash flow and capital growth in the early years of property ownership. This is very detailed information and will require some due diligence if you choose to apply her methodology when choosing your next property investment.
While most people find the topic of economics difficult to understand, this book will walk you through the process and help you find an area that is most likely to have economic growth and thus property appreciation, together with rental growth. This information is targeted, so while the property market in general may not be doing well, there will be pockets which are forging ahead. Her economic targeting is precise and will help you find that next ‘hot spot’, if that is what you are looking for.
In the chapter, ‘Matching property to your own needs’, Margaret will take you through the process of carefully thinking about your particular requirements. She addresses the issue of what is most important for you at this point in time – growth in cash flow or capital value. However, she believes there is no reason why you can’t find areas that have the potential for both.
Throughout this book, you will find sound reasoning for her beliefs in what will make you a successful property investor. You need to take the time to absorb this wealth of information and learn from her lessons, based on long term investing in the property market.
Margaret continually makes reference to a previous publication, ‘20 Must Ask Questions for Every Property Investor’ and it seems to me that if you are serious about building a portfolio of investment properties, this is also a book to consider reading.
In any case, you are spoilt for choice as Margaret Lomus has a portfolio of investment books, all of which I am sure you would enjoy.
This review was written by Glenis Phillips, SF Fin
Disclaimer: Financial Mappers does not have an Australian Financial Services License, does not offer financial planning advice and does not recommend financial products.