When i was 22 i had about $18.
More to the topic of the thread. In mid-late 2001 i did some research, went to Brisbane and bought 5 houses in one weekend. All with a yield about 9%.
I put a $100 deposit on each house and borrowed 106% of the value of each. Within 2 years these house were worth 2.5 x my buy price.
They were just cashflow +ve as well. With depreciation all up not a bad deal and not a bad ROI on $500.
My point is that with market timing you can achieve this. With market timing you become wealthy without lifting a finger. (ok maybe make a phone call or 2)
You dont have to get fancy and look for 'creative' ways to make money with property that they teach in seminars but rarely work in the real world.
And the reason they rarely work is because for something to be a benefit to you (in your favor) it is usually at a didadvantage to the other side of the deal (eg: the vendor) and that rarely is allowed to happen in reality.
So, while you're off making money in business or the stockmarket, you can make money this way with property at the same time without doing much at all. The only downside is you cant do it all the time. I'm fine with that.[/QUOT
Thanks Evan , sh't you were firing on all 8 that year .
So did you sell them of at 2.5 or what happened ?
Cheers
