All Topics / General Property / A Plan on Prosperity?

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  • Profile photo of YCYC
    Participant
    @yc
    Join Date: 2004
    Post Count: 29
    September 14, 2004 - 3:01 am

    HI all,

    So far i’ve seen many an oppinions on earning profit on property investment etc etc. But i’ve never seen anyone disucss about anything in detail in regards to a long term plan how the property helps you(or can’t help you) to prosperity. Actually, when I am considering this, i’m immensely interested to know how Steve get his success… I’m, yeah it’s all written in the book, but he never mentioned how much he earn per year, and how he spend his money. I mean, when I am thinking long term, I’m thinking “how much can this property help me to achieve success, knowing that it cost $26,000 upfront (basically emptying my pocket), returning $130 pw; and at my current salary rate at about $60000 pre tax how many of such properties I can buy and how soon will I achieve my goal?”

    Actually this question bothers me more than buying the property (though the latter is already too bothering, it can be rectified with more experience down the track). According to the above mentioned figures I can only get these properties one in a year, which is way too slow and of course in no comparison to Steve’s rate. And to be honest, I don’t think my situation is unique – i believe lots of people in this forum should have the same doubts?

    Whadoyya think folks?

    Thanks in advance.

    Cheers,
    YC

    Profile photo of kpkp
    Member
    @kp
    Join Date: 2004
    Post Count: 509
    September 14, 2004 - 3:21 pm

    This is a reeally good question YC,

    I think you will find that your strategy will change as you get more experienced and get a better feel for your target market.

    Steve did detail at the start of his journey, of the humble beginnings in the property investing game.
    Starting with one property, and of how long it took to get that one property…shows the level of determination required.
    Its slow at the start, but it should speed up as you go along, improving your skills and strategy.

    Try reading a few more books on the subject.

    At the moment you are limiting your potential by what you consider to be the limiting factors…your salary and available savings.

    Time, experience and more self education ( reading more related books) will cure this.

Viewing 2 posts - 1 through 2 (of 2 total)

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