Another busy month in the Investors Choice office. Many investors are capitalising on the recent effects of the rise in interest rates to snag some wonderful opportunities on the east coast. In recent years many Australians have seen the equity in their own home double or even triple, firstly those on the east coast and now those in NT and WA. The secret is how to use this equity to be ready for the next boom.

In many of the books written by property investors you find that they refinance when the market is high, ie release equity to the full value of their home so that when the market falls away they can buy well positioned good quality properties in areas that will in turn allow them to draw down equity in the future, repeating the cycle. Today we see many on the west coast refinancing and those on the east coast buying as properties fit their criteria.

There are many different ways to make money from property. However in my experience, those who are most successful are those that work out which strategy is most appropriate for them, and then stick to it. Make sure you check out the new suggested reads on the website ( more details below).

Regular readers of the newsletter will know that we are about to embark on renovation #5. For those who have asked, yes there will be a full report complete with photos.

Remember as a Newsletter Member you also have access to the InvestKit containing easy to use spreadsheets for researching and locating the right property. This month we have added a Checklist for Preparing your house for an Open Home and Photographs The link to the Invest Kit has been removed - if you sign up you will receive the link in the next newsletter.

Play Hard, Play Fair and Don’t Give Up These were the words of advice Mark Waugh, former Australian cricketer, provided at a recent conference. The main points he noted as the keys to his success, I believe equally can be equally applied to successful property investing:- 1. Keep it simple 2. Continually Improve 3. Teamwork is imperative 4. Never think you are better than you are 5. Know your game, your strengths and your weaknesses 6. Play Hard, Play Fair and don’t give up The simplicity yet strength of these six simple principles provided the foundation for Mark to become an Australian champion. If I think about the many properties we have purchased and the strategies we have used, these points fit nicely. In essence, decide which strategy is right for you, learn as much as you can, have a team of professionals you can swing into action when required, remember your strategy and don’t get over confident or venture from the “game plan”, keep to the tried and tested formula and finally make it a win-win . These simple words of advice are echoed in many books you will have read and many seminars you may have attended. His parting words – “It is amazing how lucky you get the harder you work”. Spoken like a true champion. NB. If you are reading this newsletter in text mode rather than html - you are missing out on a great photo of Mark and yours truly.

Recommended Reads The Investors Choice website has a list of books that I have found helpful over the last eight years. There ares so many books and information sources available today. The website tries to make the process easier by creating a first stop for those on the path of wealth creation through property. This month, the first time in a long time, we are adding another 2 books to the list. The first by well know Melbourne property developer Michael Yardney. Michael uses plain English to share his many years experience and observations. His tips and tricks provide a good summary for any budding investor. The next book is part of a series of books by Dale Beaumont. He brings together some of the many people you will see on the property speaking circuit, and some quiet achievers. They have all applied themselves to growing multi-million dollar property portfolios. The true revelation in this book is that not everyone does the same thing nor has to. As with most successful people the thing they have in common is they have a plan and stick to their strategy. As the saying goes the only difference between you today and you in five years is the people you meet and the books you read. I hope you enjoy these two books as much as I have. Click here to access recommended reads

Quick Comment on Rates It is currently a turbulent time in the economy, no-one is quite sure what will happen with interest rates. Some suggest, as recently reported in the Melbourne Age, that the drought will cause rates to drop in the new year. However most believe there is at least one more rate rise before Christmas. The lenders themselves are keeping mum, but I note with a great deal of interest in the last three weeks many lenders have dropped their 3 and 5 yr fixed rates. If you can predict the market and the economic indicators then you are doing better than most. As the old adage goes there is no better time to buy than now.

This month I would like to introduce a new member to the Investors Choice team, Debbie Hardie. Debbie has many years of experience in banking and mortgage broking and is a most welcome addition to the team.

As always, if you find the information in this newsletter useful or at the very least, thought provoking please forward it to others who may benefit. My business is based on referrals and I appreciate your support.

It has been a busy month visiting Queensland and Melbourne. Its was nice to catchup with so many of you at the Melbourne property expo and I look forward meeting with those in Hornsby, Sydney in October and South Australia next month.


Until next month, as always prosperous investing.
Jane

PS: at Investors Choice we believe in sharing, our systems, information and resources. Our website is continually updated to reflect new information we think you might find of benefit. Check out the website at www.investorschoice.com.au

Many have told us that the newsletter is not arriving in their inbox. Please add the newsletter address Investors_Choice@mail.vresp.com to your mailbox and the name " Investors Choice " to ensure you continue getting the e-newsletters without the email going straight to the spam or message release folders.

Disclaimer: You should always speak to a financial planner or accountant about your particular circumstances, the hints mentioned here are for general discussion only and do not relate to your particular circumstances