Hi,
I am new to this forum and the PI game. I bought Steve’s book at the airport and was immediately inspired to do something. However, after spending many hours trawling the web, I am finding it very difficult to find any properties that return a positive cashflow. Am I missing something? Is the 11 sec solution still used given that the book was written a few years ago and prices have moved a lot since then.
I would love to hear from anyone with a view on this!
Thanks
ClaireHi Claire
Welcome to the forum and to the world of property. I also started out after reading Steve’s first book 0-130 properties, I assume this is the one you have also read. If so, yes the market has changed since then. To answer his critics who said his theories no longer worked, Steve wrote a follow up book $1,000,000 in Property in One Year and that was the next book I read. Since then, I have purchased, over time, just about all of his resources, attended one of his Masterclasses and am currently a member of his RESULTS mentoring program. I’ve also purchased 3 properties and am in the middle of buying another one in the States. This is something I would never have dreamed of doing a couple of years ago.
The strategies you use in PI will always be changing as the market does. This forum is a great place to keep up to date with what’s happening, what people are doing etc. If you get a chance to attend a Masterclass, they are incredibly empowering, always right up to date and fantastic value. For me it hasn’t just been learning about property, it’s also been about taking charge of my future, goal setting and taking action. I still spend most days on the net but realise now the best deals are the ones you find driving around, talking to agents etc.
As long as you’re willing to keep reading and learning you will succeed. There’s masses of help available so don’t be afraid to ask for it. Good luck!
JaneAlso remember taht when Steve wrote the book we were in a different part of the property cycle. To be successful in investing means that you have to be open minded and to research other markets.
Nigel Kibel
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Thanks for your quick responses and thanks Jane for the advice. I am going to go and get Steve’s 2nd book (you were right I had read the 0-130 book). The next Masterclass in Sydney is in May so will book in for that and in the meantime research research research.
Cheers
Keep reading and learning. The deals are out there you just need to be a little more creative and make low offers. Here’s a few ideas for you : Can the rent be increased by adding value to the property through a paint and new carpet ? Can the house be changed from 2 to 3 bedrooms and therefore getting more rent. Can the land be subdivided ? Can the house be moved and build a duplex.
Make sure you’re looking in areas of growing developement where money is being spent on new roads, shops, factories etc.
For us its Ipswich in Qld.
Good luck
AmandaAJBS
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