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Hay Peter, Dont listen to milkman’s narky comments.I havent hurd of such a thing, but that dosnt mean there is’t such a thing.
Im currently half through Steve’s book. You did say you where unemployed, I would probably look for a job then look for property in my spare time.
It should only take you about 30 min a day to find a great deal… Also the 11 second solution to speed things up..
Rember the rule “Time rich and Money poor”…. Make use of your time.
[}]The 11 second rule is,
When you’re purchasing a property, you work out the rent it will produce then divide it by 2, and then times the result by 1000, the answer should be roughly the purchases price of the property.
E.g.:
Purchases price = $70,000
Rent income = $150 / 2 = $75.00So if the property price is on or less than the purchased it is worth looking into…
It is used as a filter to see if a property will be a positive cash flow, bear in mind that this is only used as a filter and doesn’t mean you should go out and buy a property because it passes the 11 second rule.
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