I recently red Steve book. I must say it is facinating. However, I find it extremely difficult (if not impossible) to find a cashfow positive property using his 11 second formula. If I understood it well, a property rented out for $120/week should cost me $60k. An extensive internet surch for the past few days using realestate.com and domain.com did not bring me such luck.I searched in Greater Brisbane, Greater Melbourne, Traralgon, Mildura, Geelong, Bendigo, Ballarat areas. I am not keen on Kalgoorlie, Mt Isa etc as they are unifocused economies. The other thing is that Steve seems to suggest that we take a Principal and interest loan. Is it not going to increase my weekly outflow and hence impacl on positive cashfow? Am I not better off reinvesting the principal else where? May be I did not understand well. Any help?
Thanks
SharifSharif
Yes it most definitely is. Good luck with your searching.
dazzling dont be so harsh and try helping people for a change[cap]
Huh?
He just agreed and wished him luck?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Is it possible to find +CF property? Yes.
Is it difficult to find +CF property? Yes!When Steve wrote his first book property prices hadn’t jumped to the level where they are now. I suggest you read Steve’s 2nd book where it talks about creating +CF proerties rather than simply buying them (as it is very difficult to find them). If you just want to buy +CF proeprty check out other types of property (rather than resi – such as commercial, industrial) of course usually the banks will lend you less money (up to a maximum of 70%).
Hellman
Hellman
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