Hi,
I’m new to the investing game,my husband and I have recently been reading everything we can get our hands on. I’ve looked at certain areas in Melbourne and also on the web, and wondered about Bendigo, but haven’t actually started. What I have seen by Steve’s formulas for working back from the rent to the purchase price to see if it’s positive cash flow, nothing seems anywhere near??? Where do i go from here?I’ve read a few books as well, and I’m currently reading Steves book. I cant put it down, I only started it this afternoon and I’m roughly half way through it.
The idea of positive cashflow is something that I’ve always had in mind, and the book is seriously reinforcing this idea. Substantial capital gains seem somewhat uncertain at the moment(?), in my view cashflow is king and it is the goal for me. I agree with the book, you cant go wrong if you have made $$ at the end of the month. [
]However the opportunities appear to be non-existant in Sydney, and anywhere within a few hundred km, as far as I can see. Maybe a need to get some glasses, but so far I just cant see where these types of opportunites exist anywhere in my region. So far my search has been limited to residential real estate.
I’ve seriously looked in Cairns, and spent some time there… It appears there are some limited opportunities in studio or 1 bed units for cashflow, in the suburbs of Cairns. But its so far away I would prefer to stay within a few hours drive of Sydney.
Is this just the wrong time to look for positive cashflow? What am I doing wrong? Mostly I am using property.com.au and realestate.com.au to look for opportunities. Maybe I need to get out and “pound the pavement” in real estate offices?
Any suggestions on where and how to look and find opportunities are most welcome. As stated, I have not finished Steves book so excuse me if I am jumping the gun. Thanks and regards to all…
Hi Philip,
These are genuine questions so please be so kind to answer them.
Please tell me what exactly is a ‘buyers advocate’ ?
How does this work ? Is it just someone with strong opinions shooting from the hip (read ‘lip’)or does it look as if he looks at statistical data to arrive at his opinions ?
Can you please explain to me (with an example) what you mean by “c income negative/cashflow positive”.
I also don’t understand what you mean when you say “I use a buyers advocate as Im not ready to do the deals yet but can afford to get into investing.”
The above statement raises two questions in my mind :
Firstly, what has a buyer’s advocate got to do with your type of purchase ?
Secondly, (presumably you mean by the word ‘deal’ buying a property and reselling it quickly again) would you please explain why you aren’t ready as yet ‘doing a deal’. Is it because you haven’t got the time required or is there some other reason ?
Pisces133
Smiley (if you are still around, you posted four identical posts, can you delete three of them please ?
Alternatively, are you able to do this Richmond ?
Thanks,
Pisces133
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