I am new to positive cash flow investing. As a matter of fact I am new to property investing altogether. I have just read Steve’s book “130 Properties in 3.5 Years†in 4 nights. For someone who has never really read book to the end- that is pretty impressive!! I am 20 years old and live with my fiancée in a homette that she owns. Since reading Steve’s book I have become very interested in Property Investing. We are looking to move into a bigger home next year and rent my finacee’s unit out. We have also been looking around Adelaide (where we live) for investment properties- using Steve’s formula. I must admit that I have not found one property yet that fits in with the formula and that would produce a positive cash flow return. I would really like some help in getting started and maybe some advice on where to start looking in Adelaide. Appreciate it.
Cheers,Matt.
The key to successful property selection really is – that you can never look at enough properties. This cannot be emphasised enough. You cannot expect to look at 6 or 12 properties and expect to find positive cashflow immediately. Sometimes, it truly is needle in a haystack material- this is especially true if you are not sourcing property as a full time occupation. Best of luck..
ajs
another trick, is network network network.
get some business cards made up, and everytime you meet a real estate agent give them one and tell them what you’re looking for.
cheers
shaunLead, Follow or get out of the bloody way
Thanks for the advice guys. I really appreciate it. I love the business card idea. I understand it will take some time to find the right properties. What sort of things do you look for when searching for properties? I have run a number of searches via the Internet, but I am always a little unsure of what criteria to enter…
Thanks again for your advice!Hi Matt
well done on the book, the problem with 1-150 is it was out of date when it was printed, by august 2003 it was already too late to buy real cash positive properties in most of Australia’s main regional centers. I haven’t bought something in OZ since july 2003 and that was in a town that was town smaller than my usual criteria. The funny thing is that Steve’s book is very popular yet Australia is now one of the worst countries in the world to make it happen.
In early 2003 found that to achieve my investing goals that i had to look outside of Australia. NZ is now very popular with investors but now good deals in NZ are harder to find (but they are still there).
Sorry if i am disappointing you but you need to work and look very hard for the deals that work.all the best
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Thanks for your advice.
I thought that must have been the case. Are there still +ve cash flow properties out there?? I would much prefer to try and find my feet with investing locally before looking interstate and overseas….
What are your views on buying properties, renovating and then selling for a profit??
With the way the real estate market is at the moment- what is the best way to make money and build your portfolio?Hi Matt
with the buy renovate strategy, you need to be aware that stamp duty will eat into a huge percent of your profits and then you have the selling agents fees on top of that. I’m not discouraging you but these are a fact worth keeping in mind.
As far as find you feet locally- i understand your thinking but if you want to make a profit you usually need to look wider than your own backyard.
Don’t be afraid i started investing when i lived in Victoria within 6 months i had properties in 3 states, today i have properties in 2 countries hopefully 3 next week. You just need to do you homework properly.regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
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