Hi again to all,
Just had a meeting with the consultants of Margaret Lomas – the lady behind several books on pos. cashflow. Towards the end of our meeting, they show how they can help you achieve 10 pos. cashflow investment properties in 15 years – yes, that’s right – 10 properties in 15 years. I was about to go on and brag about Steve’s succeess but I held my tongue.
If only she is aware that Steve bought not 10 but 130 in not 15 years but 3.5 years. Now that’s success. Why re-invent the wheel. Use it to your advantage and get around. My point – look at the success of others and don’t despair why they are successful and your not – implement their strategies. Happy investing.[grad]
Kind Regards,
George.[specool]If You never never ask, you’ll never never know”
So you reckon Steve Mcknight is some god or something.
NO – THERE IS ONLY ONE GOD.
HE JUST DID WHAT MR KIYOSAKI DID AND ADVISED,
“DON’T WORK HARD, WORK SMART”
WARM REGARDS,
GEORGE.[grad]If You never never ask, you’ll never never know”
I agree. Lomas is about exciting as an Anita Bell book.
And of course Steve isn’t God, God has his own web-site
geo,
I would be very happy to have 10 properties in 15 years.
kay henry
me too – but not being greedy, i would like to have more – the more i have, the more i am free and the more i am free, the more i can offer back to the community…
If You never never ask, you’ll never never know”
Margaret Lomas is a very smart Lady. She is quite savvy business wise. She has set up a number of franchises and does the usual radio show and written articles.
She admits to being conservative, but always has touted positive cash flow. I dont know, but I kinda think she was on the scene before steve. She would be very much aware of steve and his book and properties.
I have been to her franchise meetings as in one of the first for NSW. I did not proceed for my own reasons. They wanted all my personal details and financials, but were not prepared to give me theirs. I have to say I argued the point with her and our emails were tactically explicit in what we both expected and were not going to budge. Two stubborn women?
Enough said there. I still believe she is a slick PR machine.
Elves
a agree elves – she is on the ball and her calculators that her husband has done are priceless – very good recourses
If You never never ask, you’ll never never know”
I think, very much like the Rich Dad series, that her books are too repetitive. Good ideas, but not new ones.
It works well for having multiple streams of income. Maybe that’s why she only needs to have 10 propeerties in 15 years??James
Her story is interesting
I find the books ooookkkkk, i think I can read hers easier as my IQ isnt at the Rich dad level…lolSeriously, three books, good way to make money, but it helps having a hubby doing the IT/Calcs in the background eg programming
Originally posted by geo:Hi again to all,
Just had a meeting with the consultants of Margaret Lomas – the lady behind several books on pos. cashflow. Towards the end of our meeting, they show how they can help you achieve 10 pos. cashflow investment properties in 15 years – yes, that’s right – 10 properties in 15 years.
Was that 10 paid off in 15 years or 10 still with mortgages?
If it was 10 paid off I’d be very happy.
PK
nothing wrong with multiple streams of income, I’m all for it, in fact that’s my strategy! not just with property.
I just reckon that a lot of the ways property gurus teach investing only really works (is replicable) in a boom. but CF+ve investing is replicable over and over no matter what CG is doing. Hence 370 in ten years, carrying the 130 in 3.5 years figure on at Steve’s success rate, is possible – and only 10-15 by Margaret’s method.
A ten year period should include one whole ‘property cycle’ so you would get a growth cycle in there anyway, where even ‘non CG properties’ go up
My 2 cents.Look listen and learn.If they are successful then check out how they got there but dont just follow one persons ideas .take a great many ideas and then put them to work in your own style.I,m currently reading Money secrets of the rich.John R Burley.I think some of his ideas are going to radically change my life.Love this forum its a great learning place.
So many +CF properties out there.Let me help you and achieve a win win situation.Russ.
I agree with RussH,
“Look, Listen and Learn”
If You never never ask, you’ll never never know”
Hi Guys,
did catch up with Margaret Lomas today, at the expo, if you did go to the last expo last year, pretty much everything was said the same, did talk to each other for a few good mins, before she went back on stage…
… but her views on -ve gearing have also change, not in a bad way, but techniques in making a -ve gear property into a +ve gear property seem to be very much the conversation then the same views both about -ve and +ve gearing were talked on stage…
…but was definetly great to catch up with her again…
Cheers,
sisis Lomas the one that advocated “take the rent and multiple by 1,000 for the price to pay for a +ve property – unfortunately today there are many of these but they hardly cover the morgage payment. She may have been thicking like a private seller I spoke to the other day” if you put a larger deposit on it then it will be +ve geared”
in a way he was right but I did not want to tie up that much money in one propertyI was thinking the same a few weeks ago.
sat having a cuppa, thinking why people put up so much of a deposit, I use none! well $50, and then a deposit bond via bank, and finance the lot, stamp duty and costs included.I thought that was a better tax alternative than using my own cash! shissshhh what would I live on?
cornflakes?
then have nothing left to say hey!!! i got money. give me the money!elves
The only thing constant is change
The only difference between a weed and a flower is a judgement
You can put down whatever deposit, then recoup it with finance. For exmaple, buy for 250k, deposit 5k, but still borrow 250k + closing costs.
I discussed this today with my broker. I have only ever put down very small deposits, but some vendors are attracted to offers with bigger deposits.J
none of my $50 deposits have ever been refused
The only thing constant is change
The only difference between a weed and a flower is a judgement
Crikey! I thought my $100 deposits were low enough. With $50 deposits I could buy twice as many. Thanks elves[inlove]
If you want to get out of a hole, first stop digging.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
