Margaret Lomas is an icon within the property investment market and for this reason I chose her book ‘Investing in the right property market now’, to review.
A problem with choosing an author of property books, is that there are a host of people writing books in this field, some more interested in promoting overpriced property. The place to start research on the author is on the Money Smart (ASIC) website. (www.moneysmart.gov.au/tools-and-resources/videos/video-getting-rich-through-property-investment and www.moneysmart.gov.au/tools-and-resources/videos/video-property-spruikers-seminars-investigated)
Having won the Telstra NSW Business Woman of the Year and Westpac Business Owner of the Year and hosting two television shows, I believe Margaret Lomas comes with the credentials to be considered 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 which 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 which is most likely to have economic growth and thus property appreciation together with rental growth. This information is very 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 very 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 needs. 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 which have the potential for both.
Throughout this book, you will find sound reasoning for the 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.
Throughout this book, Margaret 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.
Glenis Phillips SF FIN – Good Financial Reads