In response to femaleage20, if you read Robert Kyosakis book (? spelling) ‘retire young retire rich’ you may realise that you don’t necessarily have to work at all if you change your mind set and use what Steve has done as a bit of guidance.

Food for thought anyway

[suave2]

Hi Collie,

I tend to agree with Derek about the town being to small. I to come from a small town of 4500 people (not as small as yours)and have looked at many properties for sale. Most of them are absolute rubbish needing restumping and re-roofing, and they are way overpriced. Rental has also declined.

We decided to look closer to the coast and found a great town of about 13000 that is booming at the moment. House prices are a little more expensive but are better quality, more likely to be rented out and more easily sold. We have $17000 saved as well and felt it a much wiser decision to invest our hard earned cash in a larger town with more going for it.

All I can say is do your research. Make sure the town your buying in isn’t going to die. But if you feel comfortable investing there then go for it. [cap]

Ian

Hi Brown,

If I recall in Steves second book, the 11 second solution doesn’t really cut it anymore and is just a guide. It is more how you invest not where – problem + solution = profit.

Good Luck,

Ian

I was told by a major bank in central west QLD that they wouldn’t loan me money.

They basically halved my wage as it was made up of overtime (which is a regular part of my job), higher pay from relieving duties (another regular part of my work), and isolation allowance and rental assistance. By the time they finished I was apparently only earning $35 000 a year.

The funny thing was, I went to a branch of the major bank in Brisbane who said that they would lend me up to $400 000!!

Go figure

Apart from all of the above read and re-read. Books like 0-130 properties in 3.5 years, rich dad poor dad’s retire young retire rich, Anita bell’s your investment property. There’s plenty of others. Good luck!