Is 0-130 properties still possible today?

I am pretty sure Steve is still doing exactly what he was doing back then… just not in Australia

There are still properties throughout Australia where the mortgage repayments are equal to or less than the monthly loan repayment (even with the other expenses like council rates, insurance, etc).

Properties were cheaper back when Steve started investing, and prices may have gone up, but rents have gone up too and I still find a number of positive cashflow properties.

When I started, mind you, they were not very easy to find. However, once you figure out the patterns of where to look and how to look, you begin seeing that there are actually quite a number of them popping up regularly. Also, it does take time and effort to find and research positive cashflow properties in Australia, but they are there.

How amusing!

There are so many people out there who have said to me, or in front of me regarding Steve's books  'Oh you could never do that today'. Have they really tried to, nope. Have they gone and looked for property that has great cash flow, nope. Or maybe they have, you know in the centre of Sydney. 'Steve's book doesn't work!'

Lol. Of course it doesn't work if you don't try!

There is plenty of opportunity to make money from property Steve is showing how at the moment in USA. He's pretty much replicating the Ballarat deals in another country.

But even here in Oz there is plenty of CF+ property getting around, you just need to go and hunt for it. It's not going to come banging on your front door!

Keep your optimism santh, go buy the books if you have to (then you don't have to take on your MIL negativity) and go ahead with making your own way

Cheers

D

Look at Nathan Birch.. He appears to be well on the way to doing what Steve done and is doing it now.

At what LVR?

Hi there,

Tell your mother in law I'm sorry she feels she wasted her money buying the book. She could recoup some of the cost by selling it on eBay. After all, there's not much point having it collect dust on her shelf, and someone else might be able to pick up some great tips in it.

The book was never about buying 130 properties in 3.5 years (although that is what I did), it was about the myths associated with property investing which is seeing people acquire under-perfoming property. I still see this happening as much, if not more, than when I wrote the book 8 years ago. It was also designed to show people how to use cash and cash flow real estate to become financially free. Clearly others could do it too as I regularly meet and receive thanks from people who have made significant amounts of wealth from following the techniques I have written about.

In regards to positive cash flow property… now is actually as good a time as any to acquire them because interest rates are sub 6%. Just remember that as rates go up again, then +ve will turn to neutral and eventually -ve.

Finally, please be so kind as to also let your mother in law know:

1. Every cent of all royalties made from my books went to charity – over $1m and counting; and
2. My property portfolio is generating just on $20k per month +ve cash flow now; and
3. I don't do many seminars any more, but I still get bombarded with requests to help; and
4. This website, which helps tens of thousands of investors and is free, is paid for entirely from my pocket.

I'm not looking for a Christmas or thank you card, just some respect and recognition for single handedly assisting a generation of Aussie investors wake up from the myth of negatively geared property.

– Steve

Hi Steve,

I certainly appreciate your website and all the knowledge I have gained from all the posts I have read over the past few months.

big Thanks from Dubstep. !

hope your missus never inherited your mother-in-laws qualities.  hind sight is a wonderful thing, keep up the great work Steve.

All I can say is that I've now become a property millionaire twice now .. once when I was also an entrepreneur in the early 90s when everyone else was pouting in high inflation, and lost in the dotcom boom and bust.

The prevaling wisdom after my first dive into debt and loss was that I was a licentious overspender and I was too much of a risk taker. Some elements of my family even rejected me as a 'gambler'.

I picked my burden up in 2002 gave myself no excuses .. and went back to doing what works.

I actually purchased the second of Steve's books .. first because my local library had all the other titles .. and the other reason is it had a couple of insights that I sort of knew .. but didnt quite know how to implement at the time. Even with a solid understanding of how property works .. respect other people's insights .. you just may learn something.

I stopped listening to the negative crowd a long long time ago. I surround myself with postive people .. run around creating good karma .. and dont let anyone tell me what i cant do. Because I do it .. i challenge myself when doing it, and I make sure that i continue to brighten my knowledge base to make sure all my decisions are either based on my experience or .. someone else's insights.

My mother had a stupid saying .. that the lightbulb had to WANT to be turned on .. before you saw its brightness. I hated it as a kid but as an adult it now makes sense. You cant MAKE people rich .. you cant make them challenge themselves or succeed .. unless they want to. And no book will make a difference .. no lecture .. no pamphlet … and no amount of money goals unless you have the will and effort to implement them.

And yet as soon as you do .. you will fly.

Hi Santh,

Recommend number 13 on the roulette table.

If you want something that works quickly – then Steve's book is not the right one for you. Mind you 'no' property book is either.

Sorry about the frivolous answer but – in my opinion no matter which path you choose to follow none of them is short. In fact if you are working towards a very short timeline you reduce the research factor, increase the risk factor and become more of a gambler. 

Having said that the journey will be relatively slow to start with – it will gather momentum as you continue your journey. This happens because you get better and better at what you are doing, therefore increasing your strike rate.

Above all – it can be done.