Hi everbody.
I am new to this so bare with me.[?]
Could anyone explain what the 11 second rule is and how it works.
Thanks
GeeDee
Hi GeeDee
The eleven second rule is a formula to calculate whether a property will be a positive cachflow or not.Ie. If the rent you receive covers all costs and provides an income.
Step 1 : Ascertain the likely weekly rent.
Step 2 : Divide the weekly rent by two.
Step 3 : Multilply the result by 1,000.
Step 4 : Compare the result to the asking price.
(from Steve McKnight`s new book)
I am new to investing myself and found this book very good reading.