I have been hearing it for months now and I’m sure it’s from one of Steve’s books or audios, where can I find what the 11 second Rule steps are, or can someone give me a quick run down??
Cheers[
]Alexander, easiest way is to click on the Search button and type in your query.
But, as it’s easy
Take the rent, say $120 pw. Divide b 2 = $60. Multiply by 1000 = $60,000.
$60K is the price you’d want to purchase the property renting at $120pw for. Alternatively, if you bought a $60K property, you’d want it to rent for $120pw.
This is a really quick filter to find what properties return 10.4% rent v price. More research needs to be done to determine if it’s cashflow positive (other expenses need to be considered) and a good area etc. etc.
Cheers
MelThanks Melbear, very easy…
Cheers, AlexHi Alex,
And to work out, what the rental should be for a minmumal return with no cash on cash onconsidered.
Divide the purchase price by 1000 and times by 2 = What the rental must be to get a 10.4 return.
Eg. $60,000 / 1000 = 60, Then times by 2 = $120 a week
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Has it really taken anyone 11 whole seconds to work this out?
I reckon it takes that long to type it![
]Cheers
Melit takes me 16 seconds to think about it, another 8 seconds to apply it, then a minute to find a caculator and another 12 seconds to punch the numbers in and then …… uh oh how many seconds was that?[
]cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Cheers guys, SIS yours is a 96 second rule….
thanks[^]No wonder your still in school!.[
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I’ve developed my own one second rule ‘if the property is over 100K forget it!’
Easy, maybe i should write a book.Work smarter, not harder!.
Hey Everyone,
Alexander i noticed you were asking about the 11 second rule. If you have not bought your first IP yet or have a few, then i could highly recommend the ‘Buyer Beware’ package that Steve has put together. The 11 second rule is a quick reference to see if it is going to be positive cash flow, but there is a lot more to finding if it is going to be positive cash flow. It has templates and Steve explains in great detail of how to use them.
Hope this helps!
MattPhobia, you’re a legend… I posted a while ago enquiring about Buyer Beware… that’s all I needed to hear.
Cheers[8D]
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