The ABC of property investing...

What do property investors say are the key steps that you should take when starting off?

I would be most interested in hearing this!

I know that there must be a lot of experience and knowledge that these people have built up over the years and I think what would be really useful on a site like this and on a community property forum would be for them to share some of that knowledge with the rest of us.

Particularly do they think that now is still a good time to get into the property investing game or have they been a little burnt with the slump in the last year and a bit and therefore think we should all bide our time for a couple of years to see how strong and sustained the recovery is or whether there is another bank collapse around the corner that will give the market jitters all over again!?

Re : The ABC of property investing

I don't really have the experience that you are after!

All I can suggest though is that the main thing that you need in the world of property investing is common sense.

And also the ability to avoid temptation. I can imagine if you have one good project the temptation is enormous to start buying lots of properties too quickly in the expectation of repeating that success and cashing in.

But I think it would pay to start slowly and only think of building momentum once you have been in the game for a few years and just had one or two properties so you know what you are doing.