Forum Replies Created
Hi There!
Thanks for your post and welcome to the forum.
I recently attended yr Sydney seminar fr 0 to 130 properties. I went to learn how to work out positive cash flow properties but being slow in the uptake I am still very confused.OK – how can I help?
During the seminar we were supposed to check the newspapers for such properties but unfortunately we lost our table, group and paper during lunch so we didn’t participate. But I did hear other people mentioning the prices for the properties and it seems like prices didn’t matter so long as they are cash flow positive.That’s right… it’s about matching problem to solution to create opportunity.
Im my case with low income and servibility these properies would definitely be out of my reach.Hmmmm – which properties? The key is to think not can I or can’t I, but how can I? That is, if you don’t have the finance capabilities yourself, how can you partner with someone who does?
Does it mean such properties would be for cash rich/servibility rich people only?I would never be able toborrow and buy anything of such value.Heck no! There are still great deals out there at all levels of the price range. Remember that I advocate inveting in people by solving housing problems.
If I have only $90 000 to spend I would look for property of such value only which is rare to find and possibly in the middle of nowhere.Hmmm – how do you know until you try? On the basis of an 80% LVR (ie you put down 20% deposits), $90,000 would buy $450,000 worth of property! Now, that sounds like a lot of bricks and mortar to me!
Finally, I must say that you seem to have a bit of a defeatist attitude. Chin up! Look for reasons to do things rather than excuses for why it won’t work.
…my husband still refuses to read it.lol [
] Oh well, all in his good time. Try to find out the reasons why he doesn’t want to read it as they may give you some insight into his investing paradigm.Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi mb,
Thanks for your post and welcome to the forum.
I’ve moved your post as this forum is reserved for questions about the book, not leading on from the book.
Anyway, while I’m here I’ll answer your questions:
quote:
a/ I was wondering if you could point me in the right direction with regards to locations.The deals are everywhere… just look for problems and then match that problem to an investing solution. The area is only rleevant in so far as it is an area that you want to buy in and has the fundamentals of population and infrastructure.
The guys in the MAP are finding deals all over the place, so they must be out there!
quote:
b/ Does serviceability become an issue if you are able to use equity in existing investment properties for deposits ? and ofcourse assuming a positive cash flow property purchase.Serviceability is always an issue, although you can get around proving your income by using no/low doc loans which typically have a lower LVR than do other loans.
Hope to see more of you around the forums… and thanks for taking me on your holiday [
]Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
[
]You know when I wrote the book I never would have dreamed it would be the success that it has become.
I’m just delighted that people who have read it have taken something from it and can hopefully translate it to an improvement in their life situation.
Thanks for your feedback. It’s appreciated and improves my day [
]Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
] Oh well, all in his good time. Try to find out the reasons why he doesn’t want to read it as they may give you some insight into his investing paradigm.
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