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  • Profile photo of argyle610argyle610
    Participant
    @argyle610
    Join Date: 2003
    Post Count: 8

    I want to believe this is possible, what steve did, for the average wage earner like me.

    If steve bought 10% of his properties in his first year. Then he bought 13. If the average price was $50 000 for each property and he payed 20% of the puchase price. Then he had $130 000 cash to do this.(The positive cash flow would have generated very little of this money in the first year, when he was just starting.) Where did the money come from?. I’d be lucky to be left with $10 000 at the end of the year.

    If the money came from his newly formed business, What a business!.

    Steve and his partner were going to be wealthy, they chose propery to invest their money and made even more money(became wealthier). Now with the book they will make even more money.

    Well done and thanks for the inspiration.

    However, lets not get carried away with all the hype.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    I know he had Dave working in the accounting firm making money for deposits. He also probably did many wraps, and would have got the FHOG as deposit at least. If he did 10 wraps then $70,000 would have come in (maybe more?)

    Terryw
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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