Hi Steve,
I recently attended yr Sydney seminar fr 0 to 130 properties. I went to learn how to work out positive cash flow properties but being slow in the uptake I am still very confused. During the seminar we were supposed to check the newspapers for such properties but unfortunately we lost our table, group and paper during lunch so we didn’t participate. But I did hear other people mentioning the prices for the properties and it seems like prices didn’t matter so long as they are cash flow positive. Im my case with low income and servibility these properies would definitely be out of my reach. Does it mean such properties would be for cash rich/servibility rich people only?I would never be able toborrow and buy anything of such value. If I have only $90 000 to spend I would look for property of such value only which is rare to find and possibly in the middle of nowhere.I wouldn’t be looking for location to buy but rather property matching
my little in the drop sum which is contrary to search for the good location and infrastructure to
buy. Its seems that I would be doing things back to front instead of good location and in frastructure, it would be search for property within my budget
Would appreciate any imput from you. Thanks for
signing my book that I bought at the seminar and my husband still refuses to read it. Have a good New Year and enjoy your young family.
YipeeTedgalee
Start searching sites such as realestate.com , domain etc etc, research areas you start to like.. $90k still ok : )
Make haste slowly…
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Howdy tedgalee
It sounds to me like you have got it!
Location is always important as you wouldn’t buy just because it was 15k and only the prospect if a handful of people every in the rental market. So now location is important for a different reason.
Price – well my last 3 deals were $72k, 55k and 60k now renting for $153 (wrap), $130 and $140 pw. The money goes into an account seperate to my regular banking and the mortgages come out of the same account and I just have a look at them to see all is OK, doesn’t cost me to have them.
If I have only $90 000 to spend I would look for property of such value only which is rare to find and possibly in the middle of nowhere.Do you have $90k to spend or can you only borrow $90k?
Our properties aren’t in the middle of nowhere (exactly) in the middle of Melbourne and Adelaide actually, so location isn’t important from the point of view that you can just drive by to have a ook at it, like if it was in teh area you live.
Thanks for
signing my book that I bought at the seminar and my husband still refuses to read it.I can’t remember if I read it here or somewhere else but if you want your hubby to read the book pick a chapter that is profound for your situation and say tohim, babe (insert your cutesy word here), I don’t understand this part would you have a look and help me. They can’t help themselves – ah a damsle in distress.
Good Luck
Cheers
Leigh K[
]Carve your own path and lead the way …
Hi There!
Thanks for your post and welcome to the forum.
I recently attended yr Sydney seminar fr 0 to 130 properties. I went to learn how to work out positive cash flow properties but being slow in the uptake I am still very confused.OK – how can I help?
During the seminar we were supposed to check the newspapers for such properties but unfortunately we lost our table, group and paper during lunch so we didn’t participate. But I did hear other people mentioning the prices for the properties and it seems like prices didn’t matter so long as they are cash flow positive.That’s right… it’s about matching problem to solution to create opportunity.
Im my case with low income and servibility these properies would definitely be out of my reach.Hmmmm – which properties? The key is to think not can I or can’t I, but how can I? That is, if you don’t have the finance capabilities yourself, how can you partner with someone who does?
Does it mean such properties would be for cash rich/servibility rich people only?I would never be able toborrow and buy anything of such value.Heck no! There are still great deals out there at all levels of the price range. Remember that I advocate inveting in people by solving housing problems.
If I have only $90 000 to spend I would look for property of such value only which is rare to find and possibly in the middle of nowhere.Hmmm – how do you know until you try? On the basis of an 80% LVR (ie you put down 20% deposits), $90,000 would buy $450,000 worth of property! Now, that sounds like a lot of bricks and mortar to me!
Finally, I must say that you seem to have a bit of a defeatist attitude. Chin up! Look for reasons to do things rather than excuses for why it won’t work.
…my husband still refuses to read it.lol [
] Oh well, all in his good time. Try to find out the reasons why he doesn’t want to read it as they may give you some insight into his investing paradigm.Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
]
] Oh well, all in his good time. Try to find out the reasons why he doesn’t want to read it as they may give you some insight into his investing paradigm.You must be logged in to reply to this topic. If you don't have an account, you can register here.
