Hey guys,
just wondering if anyone in SA has had any success in aplying the 11 second rule. i’ve been cruising the internet without too much success, but i would like a little help to get started. Do you guys always buy in areas you are familiar with or what???.I currently have a -ve cashflow property which i am going to sell after reading Steve’s book. i dont want to be given the answers but maybe just a friendly nudge in the right direction as to where to look.
Thanks.
ps Steve you have really changed my outlook on property investing. Thanks
Dan
Hi Dan,
Internet is great in helping you to select an area. However to find the ‘deals’ there’s no short cut to actually doing the leg work, contacting agents and being the first to find a motivated seller. Like Steve says ‘you’re looking for problems’. These problems may be in the form of divorce settlements, deceased sales, or just someone who needs the cash for something else. It might even be as simple as finding a property that needs a quick lick of paint, some gardening and a tidy up – then get it revalued, and raise the rent to market value.
Finally the 11 second rule applies to what you pay for it, not what the asking price is!Julie & Glenn
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