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  • Profile photo of ulrikaulrika
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    @ulrika
    Join Date: 2003
    Post Count: 1

    Hi Steve and all else!
    I am presently reading your book and find it extremely interesting. I do have a few questions for you though that I hope you can answer for me.
    1. Do you believe in managing your own properties and have you ever done so yourself?
    2. With a purchase option do you usually go out and purchase the property first and then advertise for tennants or do you find the tennants first and then look for the house they want?
    3. The 11 sec rule do you apply that to the before or after deposit price?
    4. You mentioned the 3 ways of splitting up your cash flow. Do you use cash from that to pay your deposits for properties or do you use equity (when not doing a wrap or vendor finance)? If using cash do you channel your cash flow into a special account for deposits only or how do you do it? I would love a little bit more details on the 3 way split as it sounds good but I don’t understand all the ins and outs.
    5. Also, being an accountant from the beginning, what kind of questions should I ask my accountant when I see him/her about starting property investments to get the most benefits and guidance?
    6. Should I get a bookkeeping software for my computer to keep track of investments and if so which do you recommend?

    I really enjoy your book and I think this is a fantastic website that is helpful and easy to use. I have just been to a seminare with Peter Flanagan called Property riches 2003 organised by the break free events. It gave me inspiration and I just need some specific details now to get the ball rolling and I believe you have provided that. I’m still waiting for an extensive support program that came with the course that will be sent soon and between that and your help there is no return.
    Thanks and hope you can answer my questions.

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