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Hello I am currently reading the second book “$1 000 000 in property in one year†it is on page 9th
“The 11 second solution is a basic guide to quickly calculate – based on the weekly rent – a purchase priced that equals 10.4 % per year.
1. Get the current weekly rent
2. Divided the weekly rent by 2
3. Multiply the result by 1000
4. if the price of the property is less or equal to the result of step 3, you may have found a property that is positive cash flow.Hope this helps, I recommend you to read the books, They are very interesting and give you a good idea of what this entire concept is about.
Yes, but from where do I get this money.. I will assume that from the salary that I receive from working. But in a current market where values of houses are over 150.000, the minimum deposit that I need is 20% or $30.000.
With a salary of $50.000 a year, I could meet the deposit to buy one house a year in best case.
This is what I don’t understand how can I come out with all the cash for different deposits (lets say to buy 5 properties in a year) ..[smash]
I just finished reading the book during the weekend; it was a really interesting reading; showing me a new world of opportunities and concepts that I did not know about.
However, after finishing reading the book I have now a lot more questions that before.. One of the areas which I still don’t understand is how you finance to buy too many properties in just one year … I don’t see from the money is coming.. I understand how is possible to buy an investment property using the equity and saving that I already have .. but how do I get the cash money to buy others 5 o 10 in one year.. could anyone help in relation with this topic.. I will welcome any advice..
Regards
Mr. Camacho
