Having studied other advertised investment strategies and found them wanting i have been attracted too this site- BUT how iS this different FROM other sitas. I have a 90% mortg on my first home after borrowing from her add there to get the deposit together, buying in perth now there is nothing under $150k, having no equity , no cash but masses of of energy and nmotivation hoiw can i possibly buy 130 props let alone another one!. wages go on exist mortg , child main and general living, no spare cash. can anyone show me how this site is here to help the average battler get ahead rather than those who have plenty of cash funds or large equity.150K buy minimum at int only would be higher repaments than you can get rental return on, also the example shown on the site shows purchase 33K where and when was this -the dark ages. I really dont ,ean to be sceptical but can some one show how this this is really aimed at the battler as well as the well off, THANKS.
[
] hi cookster []having read your letter i get the distinct impression that you may well be looking in the wrong area for an investment.
Have you tried other areas other than Perth [?]
[:0)] I am only new at this stuff so forgive the obvious questions [:0)]
perhaps you could try to be a little more [
] and a bit less of the conceptremember we only get one chance at this lifetime [
]Cookster I have no money no job and have just bought 3 properties in 2 weeks
Think outside the square. Answers will not just fall into your lap.Hi Cockster[
]Welcome to the forum!
Success is 80% Attitude, 20% action.
Spend time in the forum learning about cashflow positive investing then some time researching areas. My tip for you is (and I don’t usually do this but) look around Geraldton. Now I don’t think your situation is hopeless, but it may require some planning and changes like re prioritising your finances so it frees up some cash that you can save.
Or as insider said getting creative like a business partner, a good broker, a creative deal etc.
It took us five years to get rid of the “black marks” off our CRAA and to re-establish a good credit rating. But we never thought we wouldn’t do it. ATTITUDE[
]Our last deal which was done last month was a house we purchased for $72k and had a rental of $150pw. We wrapped to the tenant for $87k and their repayments are $153pw. A good deal for both of us.
Also if you have read Steve’s book or any of his other material you will know that he had no house and a half share in an accounting practice, a basic wage. We all have a story, just don’t let your become a sad one.
Good Luck
Read, learn, grow but most of all do it.
Insider,
Would you like to share your story with us please?
How you managed to buy 3 properties with no job and no money.
I love to hear these kind of stories. They certainly are motivating.
Thanks.Thankyou everyone for your kind words and tips, getting thru steves book quickly,LETS GO GET EM’!!!!!
Cookster I have no money no job and have just bought 3 properties in 2 weeks Think outside the square. Answers will not just fall into your lap.[8D]Tell me more, was it for 110%, who was your financier. If I can get the finance I will get the properties
Hi Enjo Lady
I just wondered if you could share where abouts you managed to find a property for 75K returning $150 pw. That sounds great.
Hi Enjo,
Just wanted to advise you too be a bit careful with the spelling of peoples names.
Check the typo on your reply to “Cookster”. I’m assuming it was unintentional, but it gave me a good chuckle.
Cheers!
Jay
Hi,
I have heard a few people talking about how they bought a properties for under 100K. Where are these properties????
Definately not in Sydney.[]Hi all…
To the newbies who asked the Enjo Lady to tell them where to find properties… If you read her response a bit higher up she gives you a good tip… what else do you want? A comprehensive list of towns and cities? Spend time on the net researching, but don’t rely on the properties to be listed there! Hit the phones, develop relationships! Get out there and have a crack!
Cheers
rHi Cookster: I’m fairly new at all this myself, but I’m finding out that there are three very important factors. These are:
1. Education
2. Capital available
3. Determination and the will to do it3 is absolutely necessary. 1 and 2 are partially replaceable by one another. For instance if you have $500k cash, you don’t need to know much to get started. On the other hand, if you have nothing, you need to be much more ingenious to get started. And this is where education comes into it.
But it is true that it gets heaps easier once you have access to about $20-30k cash, and you should save all you can to get it.
EnjoLady mentioned Geraldton. I’ve just been there and think it’s an OK place to invest. However beware that rents there are low and it’s swarming with investors from over east, so it may be hard to get a decent return. Higher yields (9% instead of 7-8%) could be available elsewhere. Accordingly you might wish to investigate a largish place a long way east of Perth where they get shiny stuff out of the ground!
Peter
Hey Cookster
I’m fairly new to this stuff too but having made the plunge into IP’s for the first time 4 months ago lets say I’m hooked and becoming even more creative. My tips are similar to what has already been said …….thinking outside the square (which in your position you need to be) is my biggest tip, as that is what got me eventually off the mark. I was sad for a long time that I couldn’t afford to get an IP in Perth but with sheer determination I set out to find a way. My IP didn’t end up being in Perth as I just couldn’t afford it…….but it didn’t stop me from looking where I could afford THINK OUTSIDE THE SQUARE, research, research, research and talk to people, forums ect….have faith you will get there. Good luck SQ[
]thanks[
]Thank you to all that continue to share their experiences with all of us newbies…
It gives me more references to achieve what I want to achieve in my life.
I have read 0-130 Prop. in 3.5 years and I’m starting to read it again so I can grasp more of what Steve is sharing with us in the book.
I am 23 and aiming to retire by the age of 30! but if I can get close to Steve’s and all you creative investors… I guess I might get to my goal alot less time.Cheers
peter- coober pedy??
*gets excited*
*has always wanted to go there!!!*
] hi cookster [
]
Think outside the square. Answers will not just fall into your lap.
]
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