Hi Steve
I have read your book and found it great, full of ideas and common sense. The one thing that puzzles me though is buying and selling fees
If you buy 2 properties that earn $50 pw each but will have almost no capital gains how do you even recover the $20000 you put in as deposit and costs.
Also to buy lots of properties do you need an income high enough (with low spending) to keep saving deposits and costs as there is a limit to equity.
Please help, would like to really understand moremisty,
I’m not “the” Steve, but I hope I can offer some assistance.
Try https://www.propertyinvesting.com/strategies and look specifically at the “low/no cash down” strategies at the bottom of the page!
Hope this helps,
Steve.“Knowledge is Power”
Hi Misty,
im not Steve – but i managed to ask him this very question in person at his seminar. He did it simply by doing many many ‘wrap’ deals. If you don’t know what a ‘wrap’ is – look it up under strategies and then do a search for it to see all the posts in the forums.
Kind Regards,
George.“If You never never ask, you’ll never never know”
The other aspect to it here misty is that with each +CF property you buy your income rises and thus your ability to save a deposit. Eg you take two years to save a 10k deposit. You buy a +CF property that gives you an extra $50 p.w. (or $2500 p.a.) and therefore now only take 1 year and 4 months to save the next 10k. That gives you another extra $50 p.w. and now you take only 1 year to save the next 10k and so forth.
Regards,
Si
You must be logged in to reply to this topic. If you don't have an account, you can register here.
