Hi there,
My names Melissa and I have read Steve’s Book with great enthusiasm. Generally speaking I agree with Steve’s whole formula of Property Investing and are ready and reving to go, cash in hand, armed with all info. HOWEVER, I am having great difficulty finding anything that works for the 4 step Formula. Is it possible to find these proerties now or is it not such a good time to buy? Do these proerties exist anymore? If anyone has some advise on this topic I would apppreciate it muchly.
Thanks[
]Melissa Avery
email: [email protected]Hi Melissa
I too, have almost finished reading Steve’s book and am interested in anyones thoughts on positive gearing in todays market.
Abbee
g’day melissa and abbee,
take a few hours (at least) and go back through some of the posts in the treasure chest… you’ll find heaps of discussion on what you’re looking for…
cheers
rHi Melissa
Supposodly the stats are that 10% of properties are positive cf properties, i think that at the moment that couldn’t possibly be true, especially in victoria.
But now that prices may drop in the near future more will probably become positive.
Fudge111[
]Melissa
The deals ARE out there, it does require a visit to your targeted town to find the best results. We bought 2 recently sourced through realestate.com and they met the 11 sec sol to the button (10.4% yeild), we were renovating one of them last week and just happened to look in the realestate window and saw the house that is just down the road from ours. We looked at it and bought it within 1 hour for 15k less than asking and a 12.2% yeild. So it pays to be there but no matter you will still find them. That’s if you really want one or two or 130.
Cheers
Leigh K[]Carve your own path and lead the way …
Hi Melissa,
Yes, these properties still do exist, even in today’s market, however, NOW may not be the best time to buy your first investment property.[
]Personally, I would try to avoid getting too excited, and I’d sit back and get organized. I’d arrange my Accountant, Solicitor, Mortgage Broker (for pre-approval) etc, and then I’d save like mad.
I believe than “soon” there is going to be a much better time to invest in Australia. However, if you can find a really good deal NOW, don’t sit back and think too hard, ‘cos it won’t wait long.
(Make sure you do you due diligence though…..)[]Best of luck,[
]Del
Melissa,
Agree with Wilandel, make haste slowly!
Enjolady and other more experienced players (many many of them Right on this site )will still continue to do well..”but” they have the experience/know-how and planning to do so. i can imagine the hours and hours of research they have done to get to this stage.
begin your researching now, search the posts for the “Amazing” advice given by a lot of the forum readers and sites suggested by forumites[:0)] to conduct this research. Save your Dollar$, prepare your research and plans and be ready to take that deal when it crosses your path.
I’m thinking of trusts now after all that i’ve read here, seeing what the accountant has to say.
All the best[
]Redwing 2c
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Since we’re kinda on the topic of the 11 second solution, I’d like to raise a question that’s been bugging me ever since I read Steve’s book…
At the risk of this being a really dumb question…
Why is the rule to divide the weekly rent by two and then multiply by 1000? Why not just multiply the rent by 500? I always get the same answer both ways, and the second way is simpler! Am I missing something here?landlord to be, I think halving and then adding a couple of zeros actually fits in with our ‘maths’ brains better. You’re right, it’s exactly the same, but try to multiply 123 * 500 without a calculator!
Cheers
Melthanks Mel, that makes sense. Didn’t think of it that way since I’d never be without my trusty calculator!
LLTB
the 11 second solution is great i believe. but i too am having alot of trouble finding property’s that will work. maybe the good deals are further out of town.
like steve says.
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