I have spent approx. 5-6 hours searching the internet sites of http://www.domain.com.au and http://www.realestate.com.au for deals that qualify for the 11 second test (from S. Knight’s book).
I haven’t found one that qualifies. Where are these properties that are so cheap to buy and deliver good rent.
Also, you can use the reverse of the 11 second rule to search (good luck though – I can’t find one) i.e:
Asking price / 1000 x 2 gives an approx of the weekly rent you need
instead of
Rent / 2 x 1000 should be less than asking price
Regards,
Stephen.Hi flatcat,
keep searching, you will find them.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
I have spent approx. 5-6 hours searching the internet sites of http://www.domain.com.au and http://www.realestate.com.au for deals that qualify for the 11 second test (from S. Knight’s book).I haven’t found one that qualifies. Where are these properties that are so cheap to buy and deliver good rent.
Also, you can use the reverse of the 11 second rule to search (good luck though – I can’t find one) i.e:
Asking price / 1000 x 2 gives an approx of the weekly rent you need
instead of
Rent / 2 x 1000 should be less than asking price
Regards,
Stephen.Flatcat
They are out there definately – I have just been doing some due diligence on a town I spotted two possible IP’s in yesterday. If the due diligence proves a good thing and then I will offer. If it comes off it will be something like a $45,000 invest for $170 a week rent (already tenanted).
They are there, just try to look outside the square a little and concentrate on areas that are maybe outside your ‘comfort zone’
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