MY POSITION – $200k in cash when my most recent renovation settles in a weeks time.
MY EXPERIENCE – 1 buy and hold sold after 9 years, attended 2 of Steve's seminars and then did 2 profitable renovations in Sydney's Eastern Suburbs in the last 2 years. Have pre-registered for both the 'mega seminar' and 2008 results programme.
Due to the massive purchasing costs and people now paying top dollar for unrenovated properties in the sydney eastern suburbs, it is now becoming increasingly harder to make money off the one thing i know how to do…. Renovate! And realistically, $60k profit in 2 years is less than admirable and definately not on track for financial independance. So what to do now? Renovating in other areas is just too difficult whilst my partner and i both work full time.
I read Steve's newsletters religously but am slightly lost after the last couple. I really don't know where to go from here. Steve has the experience and skill to carefully handpick deals that will weather the interest rate storm, however i just dont have the confidence to do this myself. As he suggested, i'm sitting on my lump of cash and waiting… but just how long do we wait and what signs do we look for??? As i've mentioned, i have registered for the next lot of educational seminars etc but I dont want to just sit and do NOTHING for the next 5 months, it will be another 5 months i've wasted. Does anyone else feel the same way or have any feedback or suggestions?
You must be logged in to reply to this topic. If you don't have an account, you can register here.
