Book: Young & Singles Guide to Property Investment

Author Jodi Cottle wrote this book about getting started on the property ladder because unfortunately such valuable education is not taught in schools.

Monday, January 7th 2008, 2:05PM

by The Landlord

Reviewed on behalf of Good Returns Bookstore by Andrea Milner

She begins by sharing her own story to demonstrate that any ordinary young, single person – just like her – can take control of his or her financial future via the relatively accessible wealth creation vehicle of property.

Cottle grew up on a dairy farm near Levin and left school planning to become an air hostess – however, her mother happened to buy her a ticket to a Dolf de Roos seminar. So she began to study the property market and after two years bought her first do-up property.

Now still only in her twenties, Cottle has bought and sold six properties and currently works in London as a mortgage broker. Her book is short and easy to read, written in a fresh, down-to-earth style – complete with smiley faces and expressions like, “shit, did all that really happen?” In fact it is easily readable in one session

She walks the reader step by step through each of her investments, detailing the numbers, the process – and perhaps most importantly, she doesn’t shy away from revealing her mistakes and the things that went wrong with some of her deals.

Admittedly, Cottle’s means of getting started was to borrow her initial deposit from her parents, and this might not be an option for every young, single, wannabe investor. I got the impression that as she is now living in London, she may be unaware of how quickly the local property market fundamentals have shifted – in terms of the size of deposit now required, and also that her strategy of adding value works best in a market that is moving quickly.

The current market isn’t doing that, and her book could be viewed as a bit too ‘once over lightly’ for prospective first-time buyers wondering how to raise the requisite deposit. Her suggested alternative of 100% financing rings less practical given today’s interest rates and the impact of current property prices on servicing ability.

Nevertheless, the book does contain some more timeless truths demonstrated by Cottle’s experiences, such as: don’t always listen to agents or anyone else who you think is giving you negative feedback or advice, especially if they haven’t done what you are doing themselves; keep educating yourself; and any time is a good time to get into the property game.

The rest of the book contains brief and simplistic explanations of technical stuff like title types, investing structures and mortgages, as well as a useful glossary. It doesn’t claim to be written for the seasoned investor, but it definitely has value for the young and single person wanting to nut out a basic ‘jumping off’ guide through the property investing maze.