Hello,
I am wondering who has read the book, 0 to 130 properties…If so, does it show the reader how to aquire that many properties? Is it detailed enough to really buy that many properties in that short amount of time?
Any opinions are welcome.I hope it isn’t books like Rich dad poor dad that just gets the reader pumped up but doesn’t get into the meat of investing?
Please let me know. Thanks.
Joseph
The book is not another Robert Kiosaki type book. It discusses Steve’s approach to investing for positive cashflow rather than the traditional negative gearing. He talks about the different ways to make an investment work and some of the areas he invested in (although most of those would not have the same opportunity today).
Absolutely worth reading and then read $1m in property in 1 year, his latest book.
FlyHigh [cap]
Agree, do read it. While most of us would probably not achieve that level of properties, it is very worthwhile. We were stuck at two IP’s prior to reading the book, now have 4 and looking for number 5. So the principles in the book do work, but it’s not easy, don’t expect it to be a “get rick quick” thing. It can achieve the goals though with some hard work in the short term that will help set you up for the long term. Well worth while.
PK
yes, it’s nuts and bolts as you would expect of an ex-accountant! anyone can think a house is pretty but once you know how to work out whether a house is going to make you or lose you money, you are away. Yeah, read Kiyosaki first to get mentally pumped, ditto Richard Branson, then read Dolf de Roos to get a simplified property investing overview, then read 0-130 to understand the NUMBERS behind how that is actually possible.
then read 1million in 1 year to ‘get’ how ANYONE who actually puts it into practice (rather than deciding what book to read, haha) can do it! Then go do it.!
joy to the world
Interesting your comments about Robert Kiyosaki’s book. I found the same thing, a sensation of WOW, and yet no idea what to do next.
You’ll probably find if you read 1 to 130, then go back Robert’s Book 2 – Cashflow quadrant you’ll get a lot more out of Robert. I certainly did.
Robert draws out a strategic game plan, live frugually, invest, don’t spend, use other people time and money etc, focus on building a business not an education, and don’t put all your eggs in 1 basket by working for a wage.
Whereas, Steve provides an idea on how to apply the investment component of Roberts overall strategy. Its merely a tactic for investing in property. a powerful and effective tactic, but still just a tactic. There are many tactics out there (wraps, flips, lease options, renovations etc). Find one you’re comfortable with and apply it. Decide to get good at it.
The book is only $29.95, and I’m sure you’ll get more than that in terms of value. My wife and I had been sitting on a negatively geared strategy on 2 properties for 3 years now. Since reading 1-130, I’ve not been able to sleep (excitement keeps me up til 1-2 am, we’re now in the middle of acquiring blocks of commercial property and whole blocks of units.
1-130 properties is a mind shift. It shows it can be done. is second books shows it can be done in a down market, and that the mind shift need to continue to evolve.
Having said this I don’t think 1-130 was as detailed as I’d have liked it to be. It would ave been nice to see a chronology of the 3 years, where and when te properties were bought and sold, along with a financial position at the end of the 3.5 years like he did with his MAP proteges.
Do I think its worth 29.95 – yes.
hey Tung,
“I’ve not been able to sleep (excitement keeps me up til 1-2 am”
Yeah!!!!! I’m posting this at 2.45 am and I hear you! it’s almost like…the dawning realisation that it just could work and you could get there too…if not in 3.5 years then certainly in a couple more…and then…you have options you didn’t have before..which you can see unfolding far into the future…and so you get so excited you can’t sleep. and people that don’t get what you are going to do from an investing point of view then can’t understand why you’re buzzing at 2am. but you are, and then from then on life is never going to be the same ever again, and you can never go back to the way you were before when you didn’t realise you had choices…and then the sky opens up, and then….
ok gotta go sleep now, I’m delirious
joy to the world
What does $1M in in property in 1year mean? Is $1M the loan total amount in the properties purchased?
Originally posted by FlyHigh:Absolutely worth reading and then read $1m in property in 1 year, his latest book.
FlyHigh [cap]
Thanks for the reply guys!
By all means, I am not a beginner investor. I just am looking for new ways to acquire more properties.
I would like to buy or eventually buy blocks of commercial and or multi-units(40 and above) like Tung.Okay, I’ll go ahead and purchase it!
Joseph,
to put in in perspective, Steve & Dave have bought that many properties at a time when prices were quite low, and, returns were better than today…..
It is still acheivable, but it is not an easy path to go down…. we’re at 37 after 14 months……
You should also read Peter Spann’s 2 books….. very good, and, there is also a good strategy in there to help you on your way, called LEAPFROGGING…..
Cheers
Scott
You may know the cost of everything…. but what about the value ????
Interesting to notice similar comments regarding Robert Kiyosaki’s book. From personal experience the book provided more than inspiration. I agree that the book does not provide ‘how to’ – I don’t think that’s the purpose of the book anyway. Yet it provides a change in mindset, at least in my case. The book provides ‘why’. (During Steve McKnight’s book launch in Melbourne, he said that understanding ‘why’ to investing is very important because knowing why will lead to knowing how)
In my case, the change in mindset did not yield instant dividend. However, the change in mindset lit my hunger to get good at personal finances, which in turn, helped me to guide my family from almost $400,000 in debts in 2001 to debt-free this November. My father has been resisting my family financial plan for several years (my other family members have been helping me to enforce the plan by literally taking control of his assets). I somehow persuaded him to read RDPD this year. The book did the teaching for me and now he is much more receptive to the plan.
Now that my family is out of financial crisis, we are ready for investments and Steve’s book becomes a useful resource.
What’s the point? The point is that I believe RDPD and Steve’s books serve different, complimentary purposes. In my case, RDPD provided ‘why mind my own finances/businesses/investments’. The ‘why’ propelled me to learn the ‘know how’ which is partially provided by Steve’s books.
Does this mean both books are useful to all of you? I have no idea. According to my own journey, these two books have so far been my best investments.
Hope this helps and all the best with your wealth creation journey.
Mathew Chan
130 is achievable, but Steve strategy and the market conditions did help allot (but Steves skill also helped allot!).
Rgds.
Lucifer_auOriginally posted by Pelicaninvestments:It is still achievable, but it is not an easy path to go down…. we’re at 37 after 14 months……You should also read Peter Spann’s 2 books….. very good, and, there is also a good strategy in there to help you on your way, called LEAPFROGGING…..Cheers Scott
Hi Scott
A few quick questions:
1. Peter Spann’s books: what are their titles?
2. Where can we buy them?And 37 properties in 14 months. AWESOME, BLOODY BRILLIANT! Congratulations. Four more quick questions:
1. Did you achieve 37 in 14 months solo, or in a JV like Steve and Dave (ie., 130 properties = 65 for Steve, 65 for Dave)?
2. Did you use OPM (Other Peoples Money)?
3. Did you “hit the wall” when you ran out of 20% cash deposits?
4. If so, how did you overcome this mini-glitch of an abstacle?Cheers
GregHi Greg & Thanks….
1 & 2 – Wealth Magic & $10M in property in ten years.. both available at dymocks
1. Done together with my biz partner – he has done most of the work….
2. Nope – used our own money, plus equity from PPOR + 1 IP… Then we also fixed a few up and pulled out more equity…..
3./4. Nope – have not hit wall yet, as, we have brought on some private funds…… Obviously we pay more for it, but, overall it’s worth it.,…
In general the idea, is to add value to your properties through cosmetic renos…. then get them re-valued….
Another thing you can do is do a reno or a flip, to generate more deposit funds……
Cheers
If Pelicaninvestments you bought 37 properties in last 14 months than i think its very good in this market. well done Pelicaninvestments!
Cheers
PropertyGuRu [sultan]
Mortgage Consultant
[email protected]NZ loan pre approval from austrlia in 48 hours
Guru,
Thanks… It’s been a BUSY time to say the least…..
We are now working on private funds, that depending on how we use it, should see us buy an extra 50 houses at least……
Full steam ahead !!!! We hope !!!
Cheers
You may know the cost of everything…. but what about the value ????
Go SCOTT !!!
Go easy on those chapati’s and the Singapore slings..hehe
Hi KP,
Thanks….. Me, I’m partial to the Fish Head Curry & Roti Prata !!!!
lol……
Ahhh Singers, gotta love the place….and the quick trip over to Batam to renew the 60 day Singers holiday visa…Are you sure thats all you went to Batam for ???
hehehehehehehe……
My friend has been living here on a tourist visa run like that for the last two years !!!! DOH !!!
He’s in love with a local girl…. what else can I say….
SO Scott are you buying your properties in Singapore as you are there?
Cheers
PropertyGuRu [sultan]
Mortgage Consultant
[email protected]NZ loan pre approval from austrlia in 48 hours
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