Hello,
I have a question about the 11 second rule. Is there any modification to this rule since the time of writing. I am trying to find a property in the sydeny outer west and bathurst district and I just can’t seem to find any that come close to the 11 second rule.
Can someone shed some light on this topic or show any corrections on this rule because i am really stuggling to shortlist any properties
Regards
TonyExpand your horizons..
Start looking elsewhere if you cannot find anything close to the 11 second rule, however remember it’s only a ‘filtering’ tool to source + cash flow deals.
Try using Steve’s rental yield calculator as well to eavaluate some of the deals your looking at, the more you sit down and put the figures into perspective on each deal and work out any net profit from the deals..or losses, the more comfortable you’ll be at reasearching and evaluating deals..
it’s a ‘learning’ process..even if you’re not ready to buy, start researching deals..try even your local Real estate agents deals..
Work out
what you can afford to loan
Purchase Price of properties
Average rental of those types of properties in the area
Deduct
property management fees
Rates ( Shire, Water )
Interest/loan cost’s
Insurance etcWork out your gains or losses..it’s cost you nothing..
Your just looking AND starting to Learn how to evaluate deals [
]REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
I believe you still be able to find in NSW. It’s not a lot but it is out there.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
