Viewing 14 posts - 1 through 14 (of 14 total)
  • Profile photo of gogogogo
    Member
    @gogo
    Join Date: 2004
    Post Count: 27

    130 + CF Properties

    Wondering if any one knows how many properties that Steve owns are + CF

    Profile photo of femaleage20femaleage20
    Member
    @femaleage20
    Join Date: 2004
    Post Count: 68

    have you read steve’s second book?

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337

    does it make a difference to your plan?

    Byronent
    Adelaide SA

    Profile photo of gogogogo
    Member
    @gogo
    Join Date: 2004
    Post Count: 27

    I have not read his latest book. The 0-130 book is informative The reason I ask is that in todays market I think that +CF properties do not exist I have been looking for 6 months can not find one. Looked in country towns etc Contacted buyer agents there fees are way to much with no gaurantees. The only way I can see to make money Steves way is to wrap the properties that I purchase

    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337

    There are people here that will find you properties for a fee.

    Are you serious about CF+ properties. Or you just checked your local paper once and found none.

    They are out there I can assure you.

    Byronent
    Adelaide SA

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974

    Hi and Happy New Year all!

    Gogo, I’ve been on the sidelines watching last year due to family commitments, but I’ve noticed some of your posts. I have found within 2 hrs of looking, 6 +CF properties. Some were in country towns, but most are in good townships that all have long standing infrastructure. I also found a few commercial properties that are +ve cash flow at 50% capacity!
    Your mindset is somewhat troubling! If your looking to see why you can’t do it, or comparing yourself to Steve, who’s been doing it and perfecting it for a while now, you will never start. How determined are you to achieve your goals?
    NIKE – Just do it.

    Heres to a better year than the last :)

    Sooshie :)

    When a problem is created the solution is created simultaneously

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    It is interesting you say that Sooshie…

    I thought I would check out the websites this week that a lot of people keep saying they can’t find anything on. In my first search and on the first page, I found a suitable property. I made an offer the next day when the agent responded to my email and following telephone discussions with the Local Council (as well as other searches etc.)

    I will let you know more when it exchanges so no-one can take it before me! :)

    Robert Bou-Hamdan
    Mortgage Adviser

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    Comments made are of a general nature and should not be construed as individual advice.
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    Profile photo of byronent_2byronent_2
    Participant
    @byronent_2
    Join Date: 2004
    Post Count: 337

    Well done. And so to my point is proven.

    They are there if you look

    Byronent
    Adelaide SA

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974

    Hi Robert,

    Glad you did something! At least you’re a doer! Telling people where you do or get things is counter-productive, in my opinion. Yes I have found properties. I am not in a position to do anything now as I am 39 weeks and 3 days pregnant and quite grumpy and irritable! [;)] However I’ve been at this forum for approx 2 years now (maybe longer, can’t remember now)and I’ve set my search criteria with a cookie cutter approach. I bookmark and ring RE’s rather than wait for them to email me. Sometimes I email, if I’m in a rush (which seems to be all the time now).

    Here is a recent reply that was sent to my inbox….

    Customer Enquiry

    Dear Member,

    The customer enquiry below has been sent to you from the realestate.com.au website
    Re: _________(property ID ________)
    listed by ________________

    Customer Details

    Name: Soosh Contact:
    Phone: 03 __________During:
    Email: [email protected]
    Comments: Regarding property ________,

    Has this property been sold?
    NOTE: This email was sent via realestate.com.au. If you wish to contact the customer, DO NOT use your ‘reply’ option. Please use your ‘forward’ option and copy the customer’s email address into the new email.

    Of course I took out the address and some of my private details for obvious reasons, however this is the format they reply in. This one was a simple question, is it sold yet, as it was over a 2 week period from first being listed. Huge land, good price, centre of town, long time tenant etc etc. Yes it was in a country town with a smaller population, but doing groundwork doesn’t phase me.

    Another thing, hubby and I like to go fishing (a hobby of yesteryear it seems!), but before we go out, pack our gear, buy bait, charter boat etc etc, we do the BASIC research, such as weather, wind condition, surf conditions, maybe listen to Sexy Rexy’s fishing report (okay, we might cheat with a fish finder computer occasionally [;)]) etc. I’m not going out on a little tinny boat in 2m waves to try and catch a fish! Been there, done that!(Weather reports are not entirely accurate at all times, unfortunately for us).
    I mention the above, as because with all things that can be unpredictable or have hazards associated with it, there are ways to mitigate some of those hazards quite successfully.
    I guess it depends on one’s goals. My goal isn’t instant wealth. I like the slow and steady as she goes, sort of way.

    I’d be interested to know how you go Robert [:)]
    Happy New Year 2005
    Sooshie [:)]

    When a problem is created the solution is created simultaneously

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950

    Hi gogo

    i can understand your frustration. I too found that cash positive properties were very scarce. I wasn’t interested in investing in isolated little towns of under 5,000 people but wanted to continue my investing quest for cash positive properties. In 2003 i stated investing in New Zealand. Today the market has risen a lot but there are still quality deals to be found. I encourage you to look across the tasman and see what you can find.

    regards westan

    I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database

    Profile photo of grant1197grant1197
    Member
    @grant1197
    Join Date: 2004
    Post Count: 4

    Gogo,
    I have just started looking for +CF properties last week. I read “$1M Property in One Year” and since then have found over a dozen properties which on first glance appear to be +CF.
    I am yet to detail the closing costs and rates but at this stage I can confidently say they are out there. My only concern is the ongoing maintenance costs for some of the properties.

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950

    Hi grant

    can you give me an idea of the types of deals you call cash positive, rental income plus purchase price will do.

    regards westan

    I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database

    Profile photo of grant1197grant1197
    Member
    @grant1197
    Join Date: 2004
    Post Count: 4

    Westan,
    Since I am only new at this game I am starting small. I looked for houses around $50-70K in regional areas that support mining industry workers. The properties are genrerally in high demand and rents are in the $150-180 p/week range. I have been looking for property that will meet my strick $2,000 pa cash flow on an interest only loan. The deposit can be as low as 5% for this type of deal. As I mentioned I am yet to confirm the closing costs and rates but so far they appear to look CF+. Albeit some are as low as $800 pa CF+.
    Grant

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950

    hi Grant

    yep those are cash positive deals. i don’t expect you to reveal where they are but if you are looking into these types of deals make sure you have a good knowledge of the mine life. Obviously if the mine closes a cash positive home becomes a liability very dramatically.
    all the best with your investing.

    regards westan

    I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database

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