TO STEVE MCKNIGHT,
Hello Steve,
I watch the to-day to-night show about the property millionaires and I wonder if you could guide or advise me how to get started with properties acquisitions in your club.I need to know how to source properties to return a positive cashflow given the fact that as a resident of New South Wales, most properties are negatively geared.I have read your book about 5 times and I fully comprehend and admire the contents but I am bogged down when sourcing the right properties. Can you help me and I will give you more details about my case after I hear from you.
Many thanks,LINDSAY
Whats wrong with helping yourself?
Lindsay
Yack is right. We have provided Vendor finance for over 130 properties which we have wrapped in our Company name.
When we started in 1996 we certainly did not receive assistance in locating clients or properties and had to do the hard yards ourselves.
You can’t expect anyone to put it on a plate for you.
Do your research, read and ask questions by all means but some things you got to do alone.Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
Originally posted by DANTIER:TO STEVE MCKNIGHT,
Hello Steve,
I watch the to-day to-night show about the property millionaires and I wonder if you could guide or advise me how to get started with properties acquisitions in your club.I need to know how to source properties to return a positive cashflow given the fact that as a resident of New South Wales, most properties are negatively geared.I have read your book about 5 times and I fully comprehend and admire the contents but I am bogged down when sourcing the right properties. Can you help me and I will give you more details about my case after I hear from you.
Many thanks,LINDSAY
Lindsay
If property investing was as simple as ‘ask and you shall receive’, there would be a lot of investors with properties but little idea what to do after signing a contract. Good try though, but I’m sure you are probably number 4367 on the list of people wanting him to be their mentor.
Steve’s book is a bit like a dress makers pattern. It shows you what to do, in fairly easy to understand steps, but it leaves the work part up to you.
There are almost daily posts in here asking questions like where do I find +ve Cash flow IP’s and where do I start – I was in the same situation not that long ago.
My advice is to keep reading and looking at the posts, Steve’s book is not the holy grail of PI. You also say that most properties in NSW are -ve geared. You are right, most are, but there are some +ve geared properties if you look for them. To coin a well used phrase, ‘It won’t happen overnight, but it will happen’.
If you ask some of the big time investors here (which is certainly not me), they will tell you that deals will not fall in your lap, if it was that easy, we would all be zillionaires in a year.
Getting to know areas outside Sydney that show promise, and visiting them often is probably the best way. It will mean you will have to travel and probably stay overnight, but getting to know agents is crucial to the whole process. Without an agent on side you will get no-where. Most of the good deals only make it onto the net after they have been sold. They are generally sold before they are even listed. How you ask? It is because the agents know who to call when a property is given to them to list. Any agent worth his salt will have a number of people on his books that want certain types of properties. It is your goal to not only get on the agents books, but for him to call you first.
Good luck and sorry about the long post – there was nothing on TV!
‘Eat rich food, barbeque a yuppie’
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