Hi,
This forum is making for very interesting reading lately with a diverse range of opinions on many topics.
Some have been flattering of me [
]… some have been critical [] and a few have been bruising []Still, we must all carry on to the extent that we can. This being the case, here are a few things to think about and form my response to all recent posts about the book and finding positive cashflow properties:
I can’t do it, therefore…
…it can’t be done.
At the risk of being blunt, my aim in writing the book was to outline how I built my +ve cashflow property portfolio.
To this day, Dave and I continue to find and buy deals and since the book came out we have purchased more than 40 more houses (all meeting the 11 sec solution I might add).
Do I have some supernatural ability? No. Do I invest in areas others can’t? No. Are there still plenty of opportunities? Yes. If you started today, could you replicate my success? Yes – and no. The answer to this last question is that it is up to you, not me.
One thing can be said though, if you’re looking for reasons not to try then you don’t need to go too far.
Here are some of the many excuses I receive and read about:
* Not being able to find deals
* Not being able to borrow
* ‘Luck’ about timing the market
* Too young / old / smart / stupid / stubborn
* Lack of knowledge
* I feel like I’ve missed the boat
* Too busy at work
* Too busy at homeWould you be surprised to learn that these are all factors that I (and Dave) had to overcome back in 1999?
Put more bluntly, I’m becoming a little sick of reading the lame reasons why people can’t make a go of it.
There is always a way when you can see opportunity… the problem was, seeing opportunity means that you have to view things differently.
E.g. Dave and I purchased a commercial property in Ballarat last week. Rent $500 p/w and we paid $250k for it. Well, that was on the surface of it. When Dave looked deeper, he found that the rent was vastly underpriced because the tenant had the landlord over a negotiating barrel. The independently assessed rent (ie. what other tenants in the same complex are paying) should have been $40,000 per annum (on the 11 sec solution valuing the property at $384,615). We paid full price but negotiated a 6 month settlement to buy us some time to get the cash together and to benefit from capital appreciation.
Could YOU have found and purchased this deal? Of course! The only problem was that it wasn’t for sale on the Internet, it came about by allocating the time to go pounding the streets.
Now, if you’re astute, then what I have written above will give you a very valuable insight into how to find +ve cashflow properties.
On the other hand, if you’re looking for reasons why you missed this deal then (again) you don’t have to look very far:
* It wasn’t advertised on the ‘net
* It’s a commercial deal
* Ballarat is an area to close / far from where I live
* etc, etc etc…The last thing I’d say here is that the opposite to the comment I started with is also true…
“If others can do it, then surely it can be done. I just need to figure out how.”
Don’t blame me if you can’t figure it out though. After a 385 page book and offering a variety of free and for fee products at this site… the problem for inaction must rest with the individual – and so should the accolades of building wealth by finding opportunities that other people pass by.
(oh, did I mention that commercial property had been on the market for several months).
A comment about work ethic
I’m confounded by the ease at which people think success will come. If only you could see the amount of effort and sacrifice that Dave and I (and our families) put in and the number of times when we were criticised for trying something different.
It’s not easy. I never said it was. It requires real hard work and a commitment that can ONLY come once you have been to a point that you pledge you’ll never return to.
On the other hand, it’s easy to blow all this off as a scam, too hard, irrelevant etc – especially if you can’t cope with accepting your mistakes and failures.
In my opinion, there are too many broad based posts about why the knowledge in the book won’t work – yet what is really being said is “I can’t get it to work for me, therefore it must be flawed.”
Trust me, the knowledge in the book has worked for me and many others – the question of can it work for you is a matter of your own application.
Yes – it’s all about YOU, not ME.
Prove it to me!
Oh, please! Can we move on from this?
I’m well beyond proving anything. The book contains knowledge and if you can’t apply it then that’s your problem, not mine.
I’m past handholding or tummy rubbing for people that need extra care to be told that the sun will rise in the morning and everything will be OK.
Here’s the news flash – it won’t be. Tomorrow interest rates might rise, a depression might come, taxes might skyrocket, prices may crash… you might even have to get up and go to work (God forbid!)
These are all reasons not to take action out of fear. One thing is certain – the same opportunities are available to you as are available to me as are available to anyone of sound mind and able body.
While some are making posts about why it doesn’t or can’t work, others are out there proving it can be done and sharing insights along the way.
Final Words
The whole reason for writing the book was not to show you the easy way to unending riches or to show you a magic ‘no effort’ way to wealth creation.
It was to share with you my journey and experience under the basis that success leaves clues.
If you can’t see the clues, benefit from the experience or glean ideas for opportunities then sorry, you need to look harder as the problem is with you, not me.
Yes, harsh words perhaps – yet it is time now for people to accept that their success is up to them by applying knowledge.
One last thing
A refund for the book hey? Hmmm, that’s quite an insult.
Yet I stopped trying to please everyone after try to teach students at RMIT the virtues of investing… in 1999 no less… only to be told to focus only on what’s likely to be on the exam.
One of my favourite passages of Scripture is when Jesus says (Matt 13:13)
“…people see what I do, but they don’t really see. They hear what I say, but they don’t really hear, and they don’t understand.”
Just in case you missed the theme of the latter part of the book:-
The cutting edge of property investing is not about finding properties that might or might not meet the 11 sec solution. It’s about having a plan that helps you achieve your financial goals by identifying the path of least resistance.
And by taking action consistent with your identified plan that sees you find opportunities where other people see reasons for staying in a comfort zone.
No doubt this post opens me up to further criticism. So be it – already the tall poppy is starting to kick in and I guess you can’t hold back the tide.
Have an outstanding day and remember that success comes from doings things differently.
Regards,
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
Some people can’t be helped because they do not want to be! I have only just found this site and although I missed out on being one of the three for you to mentor that won’t stop me from trying anyway.
Information is out there to help you have supplied some of it and how people use it is up to them.
Thanks for having the site to allow us to try.Bronwen
If the good die young then I will live forever
One of my favourite sayings (and I don’t know where it comes from!)….
I don’t care whether it works or not, I’m going to make it work for me.
Be grateful that you are a tall poppy Steve, it means you’ve managed to rise above the naysayers and give yourself some choices in life. Good for you! I’m sure the view is great up there.
And I’m not even going to start on people who tell successful people how “lucky” they were [!]Keep smiling
FelicityKudos to you Steve.
I came across you via ttn, joined this forum and purchased your book (to add to my already stacked shelf!). And last week I had read my last negative post, I thought it a shame that people felt it necessary to condemn and criticize (which just proves that generally those who have the least knowledge have the loudest voices). So I decided that I would not return to the forum (although I thought it a great place to bounce ideas around) I was just sick of reading negative posts. I just dropped back on the off chance that there was something positive to read and well I got something – so again well done, I wish you and Dave every success and in 12 months time when you’ve “helped guide” those lucky 20 or so “mentorees”, well we all know who gets to smile then.
I’ve got most of “the books” and do I agree with every single thing I’ve read NO of course not! You’d be a fool to not add your own values and life experiences to what you learn, which then makes it yours; your own ideas, a little from here, a little from there and WOW what’d you know “idea ownership”, it’s great (read fantabulous) to get a little guidance now and then, but people need to either make a decision “yes I can do it – and do it” or move out of the way ‘cause the trail blazers are coming through. So learn, read, experience, think but most of all DO.
“…anyone who walks in daylight doesn’t stumble because there’s plenty of light from the sun. Walking at night, he might very well stumble because he can’t see where he’s going.”
Keep it up (and I hope you make Truck loads of money!)
Jen
Steve,
I congratulate you on your success and I will tell you now that I have found your book as a useful tool for buying property. If you are prepared to do the hard yards as suggested, you can find these properties. I have found them by using the tactics you mentioned in your post. Going to places and investigating. Sometimes not so easy with a young family.
It’s unfortunate that lately on this forum there seems to be more people believing it can’t be done rather than believing in themselves that it can be done. But at the same time I’m glad that they don’t believe they can find them because that leaves more for me. [
]There was a saying on my desk calender last year that I won’t forget and I believe some people on this forum can/should apply: Wisdom is not knowing what to do now, but what to do next.[^]
C Ya
Carl
Hi Steve
I am a new member to the site – and about 50% of the way thru your book …. and Im hooked !
My wife & I have just bought our first (negative gearing) property – will cost us about $30 per week to ‘own’.
AFter just half way thru your book, I already know our next step needs to be for us to seek out a positive cashflow property (or propertIES) to replace the $30 per week we are losing from the first.
Thanks again for the inspiration and a guiding way.
Looking fwd to finishing the book & when I do I may have some questions … not this can’t work ones but how can I make it work !
And by the way – as Christians ourselves – we were so pleased to see you unashamedly mentioning your faith in Jesus in the front of your book !
God Bless
PeterMExcellent post Steve,
I don’t agree with everything in your book but I agree 100% that the opportunites are out there. I’ve found several in the last few weeks which more than meet the 11 second rule.
Unfortunately most of the knockers here are focussing on the 11 sec rule and trying to apply it in their own backyard (suburban Melbourne or Sydney), where it often doesn’t work.
Human nature being what it is those that say it can’t be done are probably right – for them. I say it can be done and I’m going to do it.
Thanks for the book and this fantastic forum.
Rod.
Hi Steve
I have only had your book for a few weeks now but it has been the most exciting read I have had for a long time. I’m really greatful that you have made this information available and I am confident that I will be able to put it to good use. Although disappointed that I didn’t get to be mentored, I think your book is brilliant and provides the info needed to be successful. I know it will take some effort, but I believe it can be done.
Steve, thanks heaps for not keeping it to yourself, despite the criticism.
Irene
Hi Steve,
I also have truck-loads of books on investing, but I just want you to know this: It was YOUR BOOK that motivated me to GET OUT AND DO IT!!! Lots of books are inspiring, but yours pushed me to take the next steps!
I am really looking forward to learning more from you at the Melb seminar.
Lozza
Hi Steve
Your postings are getting as long as Minis.
Westan brought me a copy of your book and I have been spending the last few nights reading it. I am just about ready to reread the book and use a hilighter pen to mark the parts that tell me what I need to know and remember.
I am enjoying the thought provoking ideas that you have expressed and after two years, I am clarifying what I want from Property Investing.
I have 6 IPs, all obtained in the last two years, 5 being positive and 1 very marginal but I can get CG from it. The first property I bought 2 years I have since sold. It was $100 per week -ively geared. I made $27000 profit and being in NZ, NO CG Tax. The profit has since been ploughed back into more property.
After talking with Westan and Diamond I am becoming very positive about buying +ive cashflow properties in rural areas of NZ.
Keep on with the good work.
Regards
Steve,
Congratulations on all your success and for continued success. I too am new to REI, and I am hooked. I am 3/4’s through your book and think it is sensational. Very keen to get out there and to take action….who said it was going to be easy!!
Hi Muppet,
I agree with all of your comments. I have just finished reading the book and it is fantastic.
I’m looking ay property in New Zealand (Being a kiwi myself) but it can be confusing where to invest. I have looked at population growth compaired to house prices etc etc but it can be daunting at times. Would you recommend any areas to invest over others? where have you invested without giving away any secrets.
Thanks KiwiboyP.S email [email protected]
Greetings Steve
First of all thanks for your post.
Second of all thanks for the book, again it has motivated me as I am sure it has many others. Although I have not been able to find properties at this point in South Australia after 3 weeks of looking nearly 24/7 doesn’t mean they are not there, just means I haven’t found them yet. I may have to go interstate to find them who knows.
Third Thanks for the forum that has given me much insight and some good contacts.
I don’t know if I would call it the Tall Poppy Syndrome kicking in, I would just say that some have different ideas to what you have.
I think the beauty about it all is some will put the effort in and others wont, the ones that choose not to, make more opportunities for myself to explore. Any one that expects to be spoon fed will fall down, if not now, then later when someone gets sick of feeding them. Half the fun is the self-gratification in achieving for oneself. In business I have found the most successful are the ones that start their own businesses rather then the ones that purchase a business. I believe that is because those that have started it have a real passion and did the hard yards. The ones that come in after just wana reap the benefits of someone else’s blood sweat and tears. I am not saying this is in every case, but certainly in the majority that I have noticed. I don’t have facts and figures on this its just my opinion and observation.
Keep up the good work Steve and remember one thing the more people you get through to the more cynics you will find. I’m certain the percentages are in your favour tho.[
]Regards
Peter (Bear) Ruwette
PS……. Its good to see you are reading the forum!
[][]Steve,
It was great to read your “Reply to the naysayers”, I believe you summed up the feelings of many of the members of the forum.
Perhaps the great point you highlighted was the “insult in asking for a refund on the book”
I firmly believe that the information contained in the book is grossly undervalued at twenty something dollars. I purchased my first IP 10 days after reading your book, and have an offer in on a 2nd. Both are strongly cashflow positive, both are purchased under value and neither was advertised on the internet. It took me 80+hrs of solid reasearch after reading your book.
I believe that the information contained in your book not only greatly assisted me in being in the position I am now, but saved me literally thousands of $$$$ in identifying deals and tips on negotiating.
If you offered me $5000 cash and in return I had to download all the knowledge you have give me, return it never to be used again (Matrix style) I would politely ask you to keep your $5000 and I would keep my wealth creating knowledge!
Thanks,
Battz
Hi there Steve and the rest of the forum members.
I would like to thank you Steve for the valuable knowledge that you have provided for us with this Site and your valuable information that you given through your book.
I have been to many seminars paying alot of money which have not really produced any results.
Since seeing you in TV and visiting your website, I have a new reference to get me to all my dreams and goals.Once again, thank you for sharing your success with us.
God Bless you in your future ventures.
Carlo
Hi Steve,
“Loved” the book ‘very’ motivational, worth it just for that alone, the down to earth stories of yourself and dave finding the properties etc..(rather than a bunch of how-to’s and formulae)made it very easy and enjoyable to read.
a “refund” guess that depends on your tax bracket come june 30th hmmm [
]‘wrapping’ looks hard to me.. but then again maths and i agree to disagree, luckily i’m married to someone to whom mathmatics is a breeze!
Anyway congratulations on your success, thank you for the book – AND THE FORUM [
] i believe everyone should take from the book and the forum etc whatever they can and apply what they can and feel comfortable with.Knowledge is ‘not’ power, ‘applied knowledge’ is power.
As for your detractors… i look at it this way, you and others are bringing cash (and investors) back to the bush (something the governments being trying to do).keep up the good work! thanks also to those on this site offering advice to others.
Barry
PERTH“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Its a shame some people disliked your book, i have seen the material from another property investors course and expected no to learn much more from you book…. Well was i supprised.
Any way keep up the good work……………..
Hooray!! Goodbye Chicken Little!!!
You seem annoyed, be happy! and I’m sure you are:D]. You have given a passion a direction.
CYA in SYD
T.Hi Steve,
I for one dont bother reading the negative posts -there isn’t enought time to read all the good information here. This forum is so helpful to so many it is a shame others feel the need to explain their problems to such a degree. If you cant make something work, move on and find something that does.
Well done for this forum and your information. Please keep it up. If only we could all have you as a mentor![] LynneSteve, I just wanted to say how I enjoyed reading the book, and your adventure to find the properties you bought. It is sad to see the negative posts, but I believe these people will leave and those of us who stay on will only benefit from the advice kindly shared by so many people who post regularly to the site. It has taken me many hours of research to find those elusive deals but I have found them,and with your valuable information from the book fine tuning my research skills – and hoping to secure my first +ve property deal by Thurs. Success is sweeter when you put in the hard yards yourself. HG
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