Hi, Ive read a lot about Steve’s Book.
Ive been trying to locate a spot with a higher CoCR. However, results have been fruitless. Im only looking around to invest in only positive cashflow investment.
Can anyone help in suggesting steps in locating them?
Thanks
Welcome Lionheart2000
I am new to the investing scene also, but what I have read in Steve’s books and in some others is that positive cash flow properties are not found they are created.
I believe from what I have read that you could buy a property that doesn’t meet all the criteria but with a little effort such as a fresh coat of paint or change to some of the fixtures you may be able to charge more rent and therefore making the property more cash flow positive.
Hope this helps
Good Luck[biggrin]
Martine“I will achieve!”
Hi,
It is still possible to buy positive cashflow deals, but it is getting harder and harder.
Martine is right, generally speaking, today you need to create the cashflow stream by solving problems.
In essence, this problem solving mindset is the key theme in the masterclass events that I facilitate. During the day we look at how you can create positive cashflow by solving certain types of problems.
For example, John and Rondah, who were featured in the MAP (book 2), have a niche were they:
1. Buy a property (which is certain key features),
2. Sub-divide the back for a profit
3. Use profits to pay down the loan on the front
4. And thus end up with a positive cashflow outcome and equity to boot.Really, I can’t over estimate the importance of getting that sort of training as opportunities continue to exist is vesry market but you have to know what you are looking for. The days of good deals falling from the sky are well and truly gone.
Hope this has helped.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
I have been researching for the last 3 weeks the idea of positive cashflow and have to say I am one of those people who has fallen into the trap of buying negatively geared property and then not being able to expand the portfolio past two properties.
I am considering moving straight into the WRAP or Lease Option scenario but am not sure if I should try crawling before running? Anyone have any ideas?
In addition, how long should you research before getting started (patience is a virtue – I wish I had some).
Regards
NikkiHi Nikki,
Just be careful that you don’t match the problem with the strategy, rather you try and match the strategy with the problem.
For example, becoming familar with wraps equips you to solve just one of many types of property problems. A mistake I made when I started was thinking wraps was the answer to every investing problem. It’s not.
As such, you are right to try and crawl first. And in this context, crawling means being able to spot problems and match them up to the right solution.
Sorry if this seems a little vague, but gaining this foothold will be a great foundation to a well rounded investing career.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Thanks for the response – would you then suggest to keep researching the many strategies available and to keep building knowledge to help to break down the potential problems I might be likely to face?
Regards
NikkiNikki,
Yep, that’s the way to go.
But add a practical element to your theory too by looking for real deals where you can test your theory without necessarily having to purchase.
Part of gaining confidence is the ability to find deals that fit your solution mindset.
It’s a shameless plug, but try to get to a masterclass if you can to find out what professional investors are doing right now to profit in the marketplace.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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