Buying Multiple Properties Quickly

Hey Adam,
I think you will find (correct me if i am wrong) but Steve did not buy and hold 130 properties. He would have purchased some, sold one that that made a great Capital Gain, and then financed some more properties. They also had the help of the income from their accounting business and their wives incomes.

Again I hope this helps.
Matt

“If you do what you have always done, you will get what you have always had.”

“Isn’t it time for a change?”

Adam

it is not easy to buy many properties in quick succession. You still have to come up with deposits and qualify for loans. $40,000 won’t go very far, but should get you a few cheap ones. Then you just have to keep saving and/or wait for some growth to be the next lot.

Terryw
Discover Home Loans
North Sydney
[email protected]

Adam,
Steve was able to buy so many properties largely because he brought positively geared proverties, many unsing vendor financing “wraps”.

Great to hear you are getting into the market but just a couple of things to keep in mind..

Firstly you are getting in to the market at the ‘peak’. So capital gains could be a fair way off. Negative gearing is fine if the market is going gang busters but financial suicide if it’s going off the boil.

So your best bet now is to look at positive cash flow property. ie country properties with good returns. Just keep in mind that the maintenance costs for a country house are similar or higher than a new place in the city. So make sure you have the cash flow to cover the costs.

Good luck.
Cheers,
Shaun.

Hi Adam B-C,

Check out the link, it has the info there,
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=6115&whichpage=1&ARCHIVE=

But no real secret, just lots of researching and studying the property market, thats all, and learning quickly which areas are about to go boom or rise and knowing to buy at the right time.

cheers
s.i.s

Save 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.”

Hi Kay Henry,

Sorry to reply late to your post,

quote:

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How you bought your first IP- like did you have a cash deposit

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For my first IP, i had a cash deposit, and secondly, i was working 2 jobs at the time. What happen was, i moved from Brisbane to Sydney, due to my grandma getting sick, and that i really had not much choice, but my mum, asked me to go down and look after her mother(my grandma). Well, i did that, but my grandma, was staying sick and getting worst… leaving me with no choice but to live down here and look after her. In the beginning it was hard, cause i wanted to go to Uni, but to go to uni, i needed to money, i had cash in the bank, but i didnt want to touch it or waste it. So i worked 2 jobs for a while, and you could say i worked day and night everyday, the big day came, i started uni, quit one of the jobs and continued working 7 days at that job for about 5-6 months, while attending uni at the same time, Just as i was enrolling for uni,

Before i came down to Sydney, i had been pre organising a pre loan approval for myself to get a place…..well after working so long and having a good savings and income stream, the banks increased my pre loan approval. And by now, because of my new situation, i had started uni here and i had to look after my grandma, my choices about purchasing a place for myself, change,

quote:

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When you were able to invest in the second one- and how etc

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well, i pretty much knew i was stuck down here for a long time, so instead of purchasing a PPOR, i used up my entire loan approval and bought 3 properties in one hit. 2 were neutral and 1 was negative and these were all in Metropolitan areas. Almost overnight you could say each property almost doubled. And that was just the begining of the PI, not long after that, i just learnt everything and anything about properties and the property market, i can honestly say i was spending almost every spare second learning about properties and other investments.

But anything is possible i believe, but i guess it depends how determined and how hard you will work for something, though i guess the more effort you put into something the more results you will get.

sorry about the long post guys.
cheers

s.i.s

Save 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.”