Hello. I was wondering if it was still possible to make a passive income from properties? I have read and am now re-reading steves 0-130 and I absolutly love it!
Now, steve started some 7 years ago. If you remember he bought his first property for $44,000 with an initial deposit of $11,219. The rental was $120 wk and his CoCR was 9.30% pa. From what I can understand that was not a bad start at all.
Now, it is the year 2006. Property prices have gone up and in what I have noticed, rental prices haven’t gone up a hell of alot in country victoria.
So are there still deals out there like the one above in todays market? If so, could anybody give me some examples of their recent investment?
Thanks [biggrin]Yes, it is still possible but a lot more difficult than it use to be. You have to be creative in how you find, fund and structure properties. You also have to be quicker and better prepared than all the masses that are now looking for their magic money making property pill. [blink]
Todd Burns
http://www.freepropertyhelp.com.auIts very difficult these days.
The time that book was written the market in Australia was in a very different situation so its still possible but very difficult and risky at times.
Is it still possible – yes!
But – there is a show on tv here tonight with Robert Kiyosaki being interviewed. in the sound bite he states that 9 out of 10 people fail.
I will probably watch the final of “rock star” instead – Those guys crap on any “idol” show from any country i have ever seen. off topic. maybe if it has been on tv in oz someone can tell me how it goes.
Sounds about right to me.
How many people have read steve book? How many people took the next step? How many people tried and failed? How many people didn’t even bother trying because the “sky was falling” How many people failed but tried again. How many people are doing it right now and loving every minute of it?
I reckon it’s possible but you have to listen to your own little voice. Does not matter what anyone on here thinks. If the voice is saying no you can go to seminars to your head explodes and read books till your eyes fail out. Nothing will change.
Sourcing Positive Cashflow Investment Property http://www.cashflowproperties.co.nz/properties-5.html
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Oh ok, thats great to know! I am not one to back away from a challenge! What about steves Master Class pack? has that got more up-dated info for todays market??
Also, I have noticed that it seems still very possible with some comercial properties with the properties rent exceeding it’s out goings but, it’s just a wee hard coming up with that initial money down.
If the stratergies in 0-130 are almost out dated, are there any other books out there for the australian property market that are as detailed as steves book and are more up to date?
Also, my little voices are telling me that ” if what I’m doing now isn’t working, then what have I got to loose by giving it a go?”
Thanks 4 everybodys input so far, your all GREAT![thumbsupanim]
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