Re your question – my understanding is the proprty has to have been your principal place of residence for 12 continuous months minimum (or pretty close to it!).
Thanks so much for your detailed reply….much gratitude goes to you!
I hear what you’re saying – diversification is by far the smartest move. I’m happy to do the “hard yards” to get the +ve $$$ properties up and running – I’m looking for long term passive income streams….but to have other strategies in place to cover the hiccups AND provide occasional cash injections via capital gains is of course the way to go.
I’ve got a good mortgage broker up my sleeve, and a property I can sell to enable me to cash up. It’s not kick off time for me yet though – need to soak up some more info first!
Thanks again for your time – still blown away by the generosity of people on this site!!!!
I was dissappointed to learn that the MAP was not available, but then ………
“Go on in the certain way, and if you do not receive the thing, you will receive something so much better that you will see that the seeming failure was really a great success.”
Wallace D. Wattles
Regards
Karen
P.S. Are you sure you don’t want to replace someone who has fallen off the programme with someone who won’t?
Don’t worry about my first post[]…it was written to “still in school” (Exclusively Property – $$$$Flow Positive Stories 26/12) but he didn’t respond……and I’ve moved on now!!!!! lol
Steve – what is the Millionaire Apprentice Programme mentoring scheme???(as mentioned in the SMH article we’ve been talking about).
I’m aware that this forum is a brilliant informal mentoring opportunity…..and I’m definately reaping the benefits, but something tells me I need to hook up with an individual at some point in this journey – if only fleetingly – and I’m yet to find the right person. My individual financial circumstances do not fit the basic mould, and I’d really love to put it all out on the table for perusal by someone further down the track than me. Ideally this needs to happen in these early days while I’m formulating my “tactics” (thanks for the Goal Setting plans [] in the Dec newsletter).
My accountant is not quite the right person and he probably thinks I’m one sheep short of the top paddock at present (viz a viz my multiple property investing aspirations)!!
Thought any mentoring scheme you’re involved in has got to be worth further investigation[]
Hey – how DID you secure finance in the early stages….I’m sure you’ve discussed this somewhere before today, but I’m new so would love to know? Did you have some capital behind you when you started?? Or utilise the power of “OPM”?
The question is important to me – my work as a teacher is not full time AND significant weekly income is thru maintenance from ex. AND I have four small people who are dependent on me (whom the banks rightly assume are sucking me dry!!!!)
I’ve got some alternatives in mind, but am still asking questions in case there’s something in the finance equation I’m missing.
Cheers…..Karen
PS I wrote to you as my FIRST post….you maybe didn’t notice[]. You said you’d like to be inspired by someone raising children, working, researching and investing in property AND doing the single parent thing…..I’m the living proof…..watch this space….I’m pumped and ready to enjoy being extremely successful!!!!
Great stuff – bought your book five weeks ago and have just finished the second read! You should be impressed ….. it’s 10.30 on new years eve and I’m checking the Property Investing website!!! Such a profound effect you have on us !!!???
Coinciding with your wise and inspirational words, I have put in place some challenging goals. You pulled such alot of good stuff together and it “hit me” right when I needed it!!
I know from my short time browsing this site that many people have also been blessed to have come into contact with you….Happy New Year
Karen
PS This is my second post – no one responded to my first[] Maybe I’ll formulate a question next time so I can actually establish real communication (it’s not that I don’t have questions to ask – but rather WHICH one comes first???) Cheers
PPS Ah Ha! A question re. the article ….”What is the Millionnaire Apprentice Program mentoring scheme ???”
I’m not yet a success story, but I am a single parent, raising four gorgeous children. Started in property with the purchase of my first home at 19 yrs old (bought for 75K and sold after reno ($40K) for $250 three years later. Did it again a few times, but lost all [!] in a retail business that went down the gurgler when my marriage ended. “Back on the horse” after laying low and being a mum for a while. Not yet leapt in for the first cashflow positive purchase, but currently in the middle of another reno./subdivision while doing stacks of reading/research. Need regular cashflow to satisfy my personal goals, so will leap over my fear of failure soon [] – really love and appreciate all the info I’m picking up via PropInvest.com
Re this current topic – seems like everyone is crowing about their good capital gains over time, rather than immediate or sustainable positive cashflow ????
Anyway – keep watching this space….hopefully might one day soon be elligible for a profile in the Aust Property Investment magazine!!!!
quote:
Hi Kay Henry,
Thanks heaps, though sounds like a good thought, though, i rather just think, ive been lucky and share it with you guys, the more successful stories to me, are single parented parents, bring up a few children and managing a full time job, while also managing a property portfolio….. to me this is more impressive and a much higher and better achievement, and something that i would be more enthusatic to read and put a smile on my face.