All Topics / Help Needed! / 11 second solution

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  • Profile photo of ima beeima bee
    Join Date: 2010
    Post Count: 1


    very basic stuff as i'm just startin out.

    I am reading the book 0-130 for the second time since i didn't take action when i first read it in 2008!! I want to understand how and why the 11 second solution help determine a better property deal?  I am in the euro zone so would it here?

    Secondly, i have no savings to invest but have equity in my home and no mortgage. I only have a part time job and my partner no job. Ideally i would like to create passive income as well as a reno job that i could re sell as quickly as possible to start filling up my money pot and provide us our lifestyle expenses.

    Any idea's?

    many thanks


    Profile photo of Playa ChickenPlaya Chicken
    Join Date: 2004
    Post Count: 128


    The 11-second solution works in any currency because what you're comparing is the same.

    In the current state of the economy, I would expect you will need to show income to support a mortgage, even if you do have equity. The banks everywhere have tightened their belts on lending.  In your situation, my first priority would be to get cashflow coming in weekly via a permanent job or two so that you look better to the banks.

    Good theory you have, just a few boxes to tick first.

    Good luck.

Viewing 2 posts - 1 through 2 (of 2 total)

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