G’day all,
I recently bought the book ‘130 props. in 1.5 years’ and have just finished reading it. I have spent today looking for +ve cashflow properties (here in Townsville) and have yet to find one!.
I will continue to look until I find one, preferably in my price range and meeting my criteria.
Please someone tell me to keep going because Im finding it difficult…..[angry2][blink][confused2][confused2]yes, Make money is not easy, otherwise i am already rich! Keep going! [strum]
Julian [worried]
THERE IS ALWAYS A BETTER WAY!
Tycoon,
As you’re probably aware, Townseville has gone through a significant boom in the last year or two, so you might have to little a bit further afield. Ayr still has very cheap properties. Check them out on realestate.com.au. Go to the Qld map and then click on the Ayr link and see what comes up.
kay henry
I agree with Kay. I have an IP in Townsville and it was borderline at the time of purchase and certainly would not be +CF now.
Another post (I think) was asking about Charters Towers. I know that there are still some deals that would work there and it might work for you as you’re only 120km or so away. But I would be sure to do some research into Charters Towers re population, industry etc as it is very different from T’ville.
tycoon, I was getting frustrated after weeks but participates on this forum have been helpful and positive. Keep going, do more research I am finding out more each day, get out of your comfort zone I did and I think I have found my first purchase and I am in contact with a “spotter” for another. remember its not a “get rich quick”option (although what was done by Steve is head spinning) but the process gets easier with more knowledge and perservance – annoying to keep hearing this I know! GOOD LUCK
Originally posted by tycoon:G’day all,
I recently bought the book ‘130 props. in 1.5 years’ and have just finished reading it. I have spent today looking for +ve cashflow properties (here in Townsville) and have yet to find one!.
I will continue to look until I find one, preferably in my price range and meeting my criteria.
Please someone tell me to keep going because Im finding it difficult…..[angry2][blink][confused2][confused2]Keep going, you’re nearly reach financial freedom!
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Hi Tycoon,
My partner and I have also recently read the book and are starting to look for these properties. We are having trouble finding them too but believe that they are out there. If nothign else, at least the book has gotten us off our butts and made us both have a serious think about our financial future and quest for freedom!! Good luck! HeidiDont forget its 2004 and the authors started in 1997 or thereabouts. I wonder what they are upto in 2004. But you need to pay $1000 to find out. I dont believe they are closing many deals nowadays.
It aint going to be easy.
Originally posted by yack:Dont forget its 2004 and the authors started in 1997 or thereabouts. I wonder what they are upto in 2004. But you need to pay $1000 to find out. I dont believe they are closing many deals nowadays.
It aint going to be easy.
Eventhough you spent $1000 you might still not find out! do you own work! use the research available to you
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]You’ve spent a whole day looking? You may need to spend a lot more time before you find a CF+ property, particularly in a large regional centre such as Townsville.
Remember that CF+ is not the be all and end all of property investing, there are many other things to look for – particularly capital growth, potential to subdivide block, developments in the area, population shifts etc etc.
Don’t be discouraged but you need to make sure you have a firm understanding of investing in property, particularly as you are now buying in the tail end of a massive boom. Don’t buy because everyone is and you don’t want to miss out – that is where you lose money. It has to be a good deal today, tomorrow and in x years time.
Thanks ANUBIS, the best advice I have heard in a while and good for us new investors too!
Your advice will save us from going too crazy looking for straight buy and hold +CF deals.
One has to remember that most of the + CF IP’s that Steve set up and still holds are wraps (it would seem from the book). And wraps are probably the last place most new investors would start, as they seem most daunting and to some unethical.
Remember that people like Steve have also done many quick reno’s to make some quick cash or made really low offers on houses that then in turn become +CF.
I think it is unfair and unwise to simply suggest that newbies “belive” & “keep looking and looking and looking” ad infinitum.
Maybe we need to spend some time suggesting other techniques that have worked for us, encouraging reading about new techquines, uping our research of potential markets finding great stats sites to help find potential growth markets.
Cheers Karen B!
The boat will have sailed for many.
Anubis gives some insight into alternative ways to positive cashflow property.
Thinking outside the square isnt enough.98% of people are already there. The other 2% are OUTSIDE the square to begin with!
John
Hi everyone,
Thanx for your help. I have been able to purchase a hiset 2bdrm qlndr, in a culdesac, 200mtrs from the bus stop, 300mtrs from the taxi stand, down the street from the local shopping mall + high school + tafe + hospital and 2.5km from the Townsville CBD. To top all this off the house was sitting on a quater acre block….Potential +.
I paid 100k for it at the end of ’02 and unfortunately I lacked experience and knowledge to know what to do next, so I sold 1 year later for 163k!!!. Just 2 months ago i settled on a 2bdrm end unit, 3km form townsville cbd. etc, etc, which I use as my ppor. Now Ive done a stack load of reading, networking, seminars etc and feel ready to buy IPs but maybe i’ll go overseas for a while.
Anyway, I agree that any info on other ways of acquiring $flow+ve IPs would be very well recieved. Thank you again…prost…[buz2][biggrin] I bought the book by Steve Mac knight and was so impressed by it that I to started look for +ve IP on the sunshine coast of all places. When I could not find any I decided to do steve’s course in Melbourne recently. I was expecting to get the magical answer to finding IP, but instead I was challenge to think outside the box. As it were I was expecting a fish, but instead I was taught how to fish and then told to go out fishing. I am conviced that this is how I want to invest my money, but have been living on the can not do page. I am changing my mindset to a can do attitude. I am starting today and I am not going to look back. It can be done.
Jesse Elstak
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