All Topics / Heads Up! / 1 Million in one year is a must read book !!!!!

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  • Profile photo of Native_MetaLNative_MetaL
    Member
    @native_metal
    Join Date: 2003
    Post Count: 47

    To Steve Dave and all the mappers
    I just wanted to express my thanks for sharing
    All the information that is presented in this new book, it’s a very inspirational read and exactly what I have been looking for to inspire my self into action.
    I’m sure this book will help others into action as well
    Great Job

    I do have one Question
    After each chapter of the mappers individual stories there is a short list of the amount of deals bought equity gains and Gross Positive cash flow I was hoping that the cash flow part could be explained so that I understand it a little better
    I.e. Brett & Tiffany at the end of the program had a gross Annual positive cash flow of $146,900 is this amount after expenses like loan repayments, council rates, maintenance fees and so on and therefore pure profit or is it a figure without any expenses taken into account Meaning just the combined amount of rental income from all of there properties.
    I’m sorry if my question sounds a little dumb but I just wanted to ask the question to confirm in my own head.

    Again well done guys !!!!!

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,750

    Hi,

    Thanks for your feedback and I’m delighted you enjoyed the book.

    A couple of points:

    1. The cashflow figures are ‘gross’, meaning before expenses such as those you listed.

    2. The cashflow is only from property remaining at the end of the MAP. Cashflow (i.e. non-cap gains) from deals bought and sold in the 12 months were excluded.

    Regards,

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429

    Hi all

    Congrats on the new book Steve, and to all the Mappers for their success – especially will and del (only ‘especially’ Will and Del cos I’ve ‘chatted’ with Del heaps through this forum)

    It was a bit of a bummer having to wait until Christmas to read it – guess that’s what happens if people need to know what you want for Christmas…. [biggrin]

    Anyways, I guess my question (and the reason for checking back in after so long away) is the same as the others. To confirm my ignorance…

    When it is said ‘Gross positive cashflow’ in the book, would it be realistic to substitute – Annual rent for the same term to come up with the answer?

    Hope so, cos then my results look equally as impressive[biggrin]

    Cheers
    Mel

    Profile photo of wilandelwilandel
    Member
    @wilandel
    Join Date: 2003
    Post Count: 761

    Hi Mel,

    Great to hear from you again. I had been wondering what had happened to you!!!

    Thanks for your kind words. The MAP was fun but also very difficult. It was definitely life changing for us, because it made us be HONEST to each other, and because of the MAP we have now totally changed our lives for the better. The property purchasing was only the cream on the cake for us !!

    As for the GROSS ANNUAL CASHFLOW, we ended up with annual cashflow of over $152K, but that didn’t include rents/expenses out of that. We are in the “selling some” and “buying more” process now, to take some profits and move on to new deals.

    The MAP wasn’t all about making “property millionaires” as such, but more about getting a bunch of strangers and pushing them to their limits, to show what people actually can achieve with the right mindset !!

    You probably have done as good if not better than us, and I wish you well and hope to catch up with you one day soon.

    Happy New Year !!

    Del [biggrin][biggrin]

    Profile photo of Julian2Julian2
    Member
    @julian2
    Join Date: 2003
    Post Count: 82

    Steve,

    Native_Metal has a point. “Gross Cashflow” would have been a better term than “Gross Positive Cashflow”.

    Positive Cashflow implies the money left in the backpocket after expenses like those mentioned, and this would have been of some benefit to readers as it would have indicated how close the mappers were to retiring off residual income.

    The “Gross” could be interpreted as “Before Taxes”.

    However you did provide a glossary of terms as you meant them.

    Again, what a fantastic effort offering the MAP.

    I am in awe of the mappers achievments, both personal and financial.

    If ever a book has given me a good hard kick in the bum this has been it!!! Well done.

    Julian2

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