Hi all.
As i am a newby to property investing the first thing i should learn is how to do the figures properly. Sure i can have a half assed go at it, but really thats not good enough.
So what i am wondering is there a way to learn this skill easily or maybee someone out there thats willing to help me to learn this?
What would be really good is if someone from Adelaide or nearby could offer a small bit of mentoring to help an up and coming fellow property mogul out. maybee i could return the favour with a bit of top quality wine for their troubles???Cheers
Scott
Here’s a tip that you could use;
This is my 11 millisecond solution. Take the first 3 digits of a house selling price and if the rent isn’t double this (per week), it’s generally negative cash flow.
House $120 000, double the 120=240, if the house rents for less per week than this it’s negative.
Eg. House $85 000, need $170 per week
House $160 000, need $320 per week
House $1 700 000 (nice house) need $3400 per week.Typically people learn the ‘numbers’ by disecting the workings out in RE investing books, like Steve’s. And as you go you get better, faster and fine tune your techniques. This forum can also help too, it’s nothing to get flustered about, as with anything worth knowing it’ll take some time.
I hope this has helped and by the way, I’ll have the wine by the weekend thanks. [biggrin] G7
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