Hi everyone,
I have just purchased and read Steve McKnight's new book:
From 0 to 130 (or some number like that) Properties in Three Years.
Most of you will know that he is an advocate of positive cashflow investing. I thought it was a reasonably good read, with some nice examples, but for the life of me I couldn't find any real explanation of where all the deposits come from. Most of the loans he takes out are 80% LVR, so he has to come up with 20% himself. Many of the houses he acquired were around $50,000 to $70,000, but nevertheless, that's still a lot of deposit money. He mentions in one place that he used a deposit from a wrap client, but he didn't indicate whether that was the usual approach. In other places, he talks about building the business, 'working hard' and doing without etc, etc. But, no real explanation of how he generated deposits for all those properties in such a short space of time.
Has anyone else read the book or been to any of his seminars? Have I missed something? Does he ever actually say HOW he did it????
Gail
I have just purchased and read Steve McKnight's new book:
From 0 to 130 (or some number like that) Properties in Three Years.
Most of you will know that he is an advocate of positive cashflow investing. I thought it was a reasonably good read, with some nice examples, but for the life of me I couldn't find any real explanation of where all the deposits come from. Most of the loans he takes out are 80% LVR, so he has to come up with 20% himself. Many of the houses he acquired were around $50,000 to $70,000, but nevertheless, that's still a lot of deposit money. He mentions in one place that he used a deposit from a wrap client, but he didn't indicate whether that was the usual approach. In other places, he talks about building the business, 'working hard' and doing without etc, etc. But, no real explanation of how he generated deposits for all those properties in such a short space of time.
Has anyone else read the book or been to any of his seminars? Have I missed something? Does he ever actually say HOW he did it????
Gail
