11 Second Solution, is it still valid?

Hi Stephen,

Firstly, I must be the only one here who HASN’T read Steve’s book, hence I cannot comment on the formula of the 11 second test.

I am assuming that is related to ensuring that you buy a property that proves to be cashflow positive e.g. like one I saw advertised on the net…..$45,000 (purchase price) with $90 p/w rent.

Such bargains do still (apparently) exist, but they are becoming more and more difficult to find. I personally have better things to do with my time….I have found the odd one, but wouldn’t let my dog sleep in it, let alone try to rent it to humans!!!! As a matter of fact, there is a show on telly tonight, where some guy auctions his house on one of those shows, and the asking price is $10,000 – but man, you should see the house, not to mention the crowd gathering to bid!!!! Ferral city !!!!! [rolleyesanim][rolleyesanim][rolleyesanim][fear][fear][fear][hmm][hmm][hmm]

Happy hunting…

Jo

hehe Monopoly.

skwebb, I mentioned a place where these CF+ exist the other day on here, but I got howled at, so I won’t mention it again :o)) oh ok then- broken hill!

It really depends on what you’re looking for, skwebb. Read as many books as you can, scan the RE websites and the weekend newspapers … and then decide what’s best for you.

kay henry

Kay, you go right ahead and mention them, and any place you like, and if it gets shot down, make sure you fire back with as much spunk as you demonstrated in your retalitory post!!!!
GO GIRLFRIEND !!!! [jerry][jerry][jerry]

Jo

I’ve edited this post down as a lot of it didn’t make sense any more in context of nothing!!

Broken Hill is a one-industry town – mining. There has been a significant decline in the mining industry over recent years.

I invest in NZ myself, and have three properties returning 20 percent yields, which have increased in value 60 percent in the last year, with all signs pointing to continued growth.

I believe NZ is where Australia was 2-4 years ago – i.e. still with lots of CF+ve opportunities as well as lots of legs for growth.

To me it’s a much better bet to buy NZ CF+ve in a town with high rental demand, within 80 k of fast-growing cities, international airports, on a main highway, and within 45 minutes of tourist attractions, in a region people are throwing money at, at the moment – just as one example.
rather than somewhere like Broken hill which is too risky in my opinion.

cheers-
Mini

joy to the world

PS Jo, apropos ‘feral’, renovation isn’t for everyone. But it’s a good way to get more house for your money. As steve says in his book you haven’t read, you can make money by solving problems. A ‘feral’ house which is otherwise structurally sound can be turned around completely with a repaint, handyman, curtains, light fittings, and maintenance catch-up. it’s easy to make thousands if not tens of thousands (depending on the value of the property) on top of the amount you spent, to the value of the property. and you also get the compounding value of the equity you just gained – i.e. 80k house, spend 5 on it, 95. and 25 percent CG on 95K is more than 25percent growth on 80 plus 5, which is what you spent.

So it’s a technique I use to gain equity, not to mention cashflow – your newly tidy and attractive house of course rents for more, too! even though I hate doing reno’s myself and never even lift a paintbrush any more – these days I just ‘have it done’ -I did do it once just to ‘get it out of my system’.

Sk, PM me your email address and I can send you pictures and numbers of some real, and recent, examples.

Mini, <edited by richmond -off topic>

kay henry

Mini,

<edited by richmond, off topic>

Jo

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