All Topics / Help Needed! / HELP NEEDED WITH FIRST PROPERTY
Hello Guys,
I am a new investor looking to buy my first investment property. I am in the process of reading Steve McKnights book. I live in Sydney but am looking to invest anywhere where there is positive cash flow properties with reasonable capital gains. I know that the peak of the property market has been reached so I would not be getting much capital gains.
I can’t seem to find any positive cash flow properties. The only ones that r even remotely positive are either in very rural areas (By very rural I mean a few hundred kilometers from the city). Even rural areas that have a relatively good population like Tamworth, Armidale, Broken Hill etc. seem to be without any positive cash flow properties.
Any suggesstions as to where I should look?
Your help is greatly appreciated.
Navi
Hi Navis,
welcome to the site, I think you’ll find it very very useful.
You will also find that there are not many cashflow properties just sitting out there. You have to go out there and make it cashflow +ve. It might be valuable for you to buy Steve’s second book, and get some ideas from that.
Good luck
Landt.Just some thoughts
This is my personal opinion
1. The sooner ou invested, the faster your investment would grow
2. The cost of real estate would continue to increase in the future, we are making more people, but we are NOT making more land
3. The dream of owning a home would become an impossibility for more and more people
4. The demand for apartment buildints would increase along with rents.always ask questions. Is this area growing or declining?
How fast will the city grow and in which directions?
Would I like to live here myself?
I am not a real estate guru, but I can share you some tips.Several general principles will guide you as you invest in real estate. First, become very familiar with your local real estate by studying properties on the market. You may want to learn all about your particular city, is growth patters, its depressed areas, where the path of growth is likely to exend. The point is: The more you know, the more prepared you will be to invest. You can talk to real estate agents for these information.
A good opportunity always goes to the investor who knows how to locate a good investment and who has the courage to act quickly.
Seize the day
We are giving away the free reports and audio files by Robert G. Allen for the next 3 months. You can email me for the free reports and audio files.
Hi,
As I wrote in my first book, I would be ultra-careful buying in rural areas. It is very important to remember that demand drives prices, so it is wise to evaluate demand stimulants in the area where you are investing as well as the normal due diligence issues (i.e. numbers, property, people).
More lately, I have been making (rather than buying) my profit through two things:
1. Solving problems; and
2. Applying the new 11 Second SolutionBoth of these concepts are explained in my second book, but as a quick summary, buying deals has become harder since property prices went through the roof.
The investing technology of today is to look for problems (rather than solutions) and then solve those problems to earn a profit.
The New 11 Sec Solution takes the paragraph above and forces you to look at rent and yield to identify opportunities.
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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