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  • Profile photo of powderfingerspowderfingers
    Member
    @powderfingers
    Join Date: 2003
    Post Count: 47
    August 20, 2003 - 2:02 am
    Quote:
    Powderfinger,

    We can now call you a “Buyers Agent” can’t we.

    MJK

    MJK

    Not really.

    I will be merely selling the details of a good deal, in my spare time, and probably at the fraction of the cost of a professional “buyers agent”.

    Profile photo of powderfingerspowderfingers
    Member
    @powderfingers
    Join Date: 2003
    Post Count: 47
    August 20, 2003 - 1:38 am
    Quote:
    Hi everbody.
    I am new to this so bare with me.[?]
    Could anyone explain what the 11 second rule is and how it works.

    Thanks

    GeeDee

    Hi GeeDee
    The eleven second rule is a formula to calculate whether a property will be a positive cachflow or not.Ie. If the rent you receive covers all costs and provides an income.

    Step 1 : Ascertain the likely weekly rent.
    Step 2 : Divide the weekly rent by two.
    Step 3 : Multilply the result by 1,000.
    Step 4 : Compare the result to the asking price.

    (from Steve McKnight`s new book)
    I am new to investing myself and found this book very good reading.

    Regards
    Clint

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