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November 4, 2011 - 2:59 am

HI there
I was just wondering fthere any more modules left? WOuld be very interested in the material…

Cheers

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October 16, 2011 - 7:15 am

This is what I aim to do. Outer areas of capital cities are great for that, but we live in Coffs so I dont know those areas…
I lived in Brisbane during uni – so might begin there…but I also hve family that have lived in Sydney for 10 yrs who know the area well

Coffs is great for decent priced homes, and a strong rental market, but not many positive deals just come up so I’d have to be creative whihc im learning how to do.

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October 16, 2011 - 6:23 am

These are great repsonses
I jsut went for a walk before and had an epiphany (ha ha) of why im getting frustrated and confused about proeprty
my conviction, or my WHY has not been strong enough. When I decided for positive cash flow, I get sucked into capital gains because my WY for positive is not strong enough….
I’ve been reading 0 to 260 in 7 yrs, and its so great because even though theres a million ways to d property, Steve is grounded in his reasons why.

I want to acquire income producing real estate, and do lump sum deals to decrease my debt levels. I also prefer to get into commercial real estate asap as while the returns can be great, the tennant is liable for the costs etc.

But I’d love to chat to anyone who is in the market out there doing positive income real estate, Im a nubie and would love advice anyways

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October 15, 2011 - 9:58 pm

Ah ok nice one. Thats great your doing investing
Well, we’re going to a proeprty investing seminar in SYD in NOV which we cant wait – its run by RESULTS and all about how to do positive cash flow deals.

Because its our first deposit, im not sure whether to put it into a buy/hold (positive real estate or capital growth…because if its positive…how do u get money for your next deposit if its not going up in value and you cannot use equity)?

Or whether to do subdivision (my brother works for council and is an engineer so he can help)..etc.. I’d like ot learn to do lease options or wraps as I dont think I want to be a landord…or also commercial is interesting (so need to do lump sum deals to get the cash to begin)

I have the skills (as my partner does) for a small cosmetic reno, but nothing fancy – i’d probably pay someone to help…

But yeah, as I do a share trading business, I’d probably like lump sum money to put into that- then get into commercial

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October 15, 2011 - 2:19 am

Its a long block, and putting one house behind the other.
$140 is all included, fixed price.

The house wont be an extension as it will be subdivided…such as 5a and 5b…

Have you built before? haha your right I haven’t built before but im trying to come up with win win scenario’s as my partner wants to buy PPOR and I want to buy an investment property haha.

I dont want to buy PPOR with a new home as then all our deposit is gone and we only have a PPOR and no investment…AS it’d be a new home…there wouldnt be much to do in order to add equity – so we’d have to wait until we repay off a lot or housing prices increase…

Only when equity is below LVR of say 80% then we could look at investment property as the interest on that equity loan would be tax deductible…
BUt your right the accountant may agree with you that we cannot claim some expenses as its a extension…hopefully not though!

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October 14, 2011 - 8:57 pm

How did you know it was department of housing???

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October 14, 2011 - 8:56 am

haha ONLY 3 properties….wow thats amazing effort!!!
here is the idea for my first property…
its in toormina (near coffs and near a great highly valued suburb on the beach)
its advertised at $235K – nice block but house looks a bit dodgy
heres the link
http://www.realestate.com.au/property-house-nsw-toormina-107673851
As it needs some cosmetic reno, and maybe even a carport/garage, i offered 180 to start. rejected but in negotiations. a lady recently offered 200K which was also rejected.

I want to offer a win win…but not sure how to/
rents in this area are about 290..lowest is 280 for a unit..

thougts on what i could do with it? my brother is an engineer and used to do reno’s but is busy lately…
i thought paint on outside, new kitchen (bunnings flat pack style) and maybe some garden action….
Not sure how to get it valued up to say…280
RP market data is from 202K up to $240 K

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October 14, 2011 - 8:49 am

im just nervous with the first step as i dont want to put my first saved deposit into a lemon…and have to start again haha

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October 14, 2011 - 8:48 am

great advice.
did you do this while working full time? and do you aim for some capital growth in there? or jsut the positive cash flow…Because this house we’re looking at, while small on a big block,. there’s easy cosmetic reno to do – but the growth in that area probably wont happen for another 10 yrs..

thats great advice buy/hold buy/hold – are you just for cash flow? What is your criteria for housing? such as location, beds, bathrooms – or is it just cash flow….

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October 14, 2011 - 5:52 am

our thanks for such an awesome reply!!!!!
dont worry – we both work full time now- and when we get the property ball rolling i’ll back in down to 4 days, then 3 then 2 etc – then my partner will stop if feasible

Yeah i thought Steve pioneered Results and we’ll make our decision after the workshop in NOV. i want the mentor to help me narrow down my goals and channel my education to apply. Ideally i’d like to make 3 deals at least during the results program…

thanks for feedback about he negativity…its so awful to hear it from family. most are supportive but when i even mentioned im thinking about mentoring they were instantly thinking im retarded and not a savvy person (im the youngest of 7 and only 22). Its hard but my aprtner is supportive as he wants to be financially free as much as me

While im learning as much as i can at the moment – its so hard to take the first step as i dont think my goals are clear enough – like im tempted to buy an NRAS approved property – but that will ake up all my first deposit…or buy a renno place and fix it with help – but then again….it may not sell for much profit….Since its my first go – i want to use my saved deposit as wisely as i can so that first IP can fund another 2 or something…

thats so great they review the results course notes – i spose thats probably imperative anyway.
i know I may childish – but i’d like guidance on my first few properties to set up a good foundation…
at the moment im researching ways ppl buy proeprty win win – and different arrangements they make…
but i want to buy soon as property is doom and gloom at the moment and i think its a great opportunity
thanks so much for your reply – love learning from people in the action!!!

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October 13, 2011 - 10:45 pm

I think the investment program that he endorses is reults….which is what i want to get into

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October 13, 2011 - 10:41 pm

Steve MCknight  doesn't offer a mentor program does he?? I thought he just did the occassional seminar?
i'd be VERY interested if he did run mentoring!!!

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October 13, 2011 - 8:27 pm

Wow you guys have pearls of wisdom. thanks for lending your time to reply!
We are remaining to work full time until we get our strategy rolling.

While i have read many books – and i mean a lot, i’d like someone to help me clarify things.
While we want 100K in passive income, I want to source deals that provide cash flow each week and also deals that provide lump sums of cash to invest in bigger and better things. WHile we might begin in residential property – single family homes to begin with, apartment blocks are down the track.
While this goal sounds fine – making it into reality as you know is different. so a mentor can help clarify these a bit better.
The deals that provide lump sums will be split into further property deals and also a share strategy (haha dont worry its not trading)..its a business start up.

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October 13, 2011 - 3:11 am

Great advice Mat – books are great and im voracious for info! but its so hard condensing it all and getting one solid idea…
I spose its good combining them all to have an edge -but just to start – i'd love some guidance

Wow carolyn thanks so much for your reply!!!
this may sound awful – but my family are not very supportive on this diea. While they want to get out of the rat race they are very against the idea of paying someone to help. personally i think i'd prefer to pay $6K and get help rather than trek through blind. My partner is slightly dubious on it -but yes we can see when we get there in NOV

Thats awesome about goal setting -we're very committed to that and try to write down our goals every day – but its so hard sometimes! because theres so many options i get swayed on goals – but having help would be ideal

I dont mind travelling if its only 4 times a year…i have family in both cities.
Would you say your much closer to your goal after the program? or only slightly?
I am 22 and we want to retire through property by 25….A positive cashflow of $100K at least. DO you think this is too ambitious?

We both work full time but my partner has agreed that once we get property rolling and do our first deal…i'll immediately cut back work…to focus more on investing while he continues to work and pay rent 

Were you working full time while you did those deals and got mentoring? if os how did u balance all yor commitments such as work, family, exercise etc.
IM sorry to ask so many q's but i've love to learn from people who have gone before me. I think its awesome what you guys have done!
rach

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October 12, 2011 - 7:47 am

HI Carolyni
Wow thats so exciting to hear!!! Good on you!
me and my partner are going to the RESULTS full day workshop in sydney in Nov. cannot wait. We are renting at the moment, have a deposit saved for PPOR but prefer to begin investing while we’re young and no commitments except for full time work.

If i may – can i ask how long it took to become so established? We’re aiming for the cash flow from property to replace our incomes and desire $100, 000 per yr before we quit work.
We want to know if the early bird is ideal for RESULTS – as you get access to the education but mentoring doesn’t start until June 2012.
We live in COffs harbour – is it still easy enough to do the program if your not in a capital city??

hope to hear from you soon!
Are you sure your not interested in mentoring yourself
rach

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October 11, 2011 - 5:26 am

HI there guys thanks for your comments!! Awesome

While we are looking at both IP and PPOR – we are keeping are eyes out. The property we found on the weekend, is yes a cheap one i Coffs harbour. However my brother s an engineer and used ot renovate houses and has looked at this one and will help with cosmetic renovations and basic kitchen and bathroom upgrades. Its a 3 bed home with new paint and carpet. Asking price $235. However we submitted a tentative offer of $175 (it needs kitchen, bathroom renno, curtains, exterior paint, etc) . Rentals in area go for $290- 320. similar priced properties in the street sell for $250 despite being slightly in need in love.
Its been on the market for a while and the agent came back to me and said the vendor said thanks, but he’s had higher offers. I replied thats totally fine, but we are only offering $175 to $180K…

I need help with negotiating as they are like….well to get a home at that price you can buy a vila…but this place doesn’t even have a shed or covered parking…..and no areas for storage!!