Should I Sign Up For On Property Plus Now Or When I Am Ready To Buy? (Ep211)
I am answering your questions and this question comes from Debbie. She says, “I’m just beginning to educate myself about property investing and I’m interested in joining as a member on property plus to gain information. To being with, I know I need to purchase a cash flow property as I’ll not be able to fund anything that has negative cash flow. I’m wondering if I should purchase your program yet, or if it’s better to wait until I’m ready to purchase and then gain access to the tools. Does your program have educational products as well or is it more geared towards doing the research and sums when you’re ready to purchase a property?”
First I want to thank you Debbie for asking the question because it’s a great question that I hadn’t considered before. I’m a big fan of what I call “just in time learning” which is where you learn things when you need to learn them. You don’t want to learn them too soon because by the time you actually need to implement it you may have forgotten what to do.
To answer your question I’m going to walk you through On Property Plus so you can decide for yourself whether or not it’s right for you. There are many different aspects to the program and I believe it can work out for your specific situation.
The membership site is icon-based like an iPhone or Android device. The lessons are going to be the most relevant to you right now. Once you go to the lessons page there are four major modules:
- Positive Cash Flow Property Basics— There are six lessons:
- “What is a positive cash flow property?”
- “Positive Cash Flow vs. Positive Gearing”
- “The Risks of Investing in Positive Cash Flow Properties”
- “How to Calculate Positive Cash Flow Properties”
- “What is Owner Finance?”
- “How Positive Cash Flow Properties Can Make You Financially Free”
- Successfully Budget and Set the Right Goals–This one is all about setting a financial goal before you even look into property. There are four lessons:
- “Changing Your Definition of Wealth”
- “Assets vs. Liabilities”
- “Creating Your Financial Goals”
- “Assessing Property Based on Your Financial Goals”
- How to Find Positive Cash Flow Properties–This module shows you through all the techniques I use to find positive cash flow properties. There are five lessons with the sixth lesson coming soon:
- “How to Use a Property Magazine to Find High Rental Yield Suburbs”
- “The McLean Method (part 1)”
- “The McLean Method (part 2)” (my signature method for finding positive cash flow properties)
- “Diamonds in the Rough, The Types of Properties to Look Out For”
- “Finding Positive Cash Flow Properties Using ‘Real Estate Investar’ (paid tool search)”
- (Coming Soon) “Finding Positive Cash Flow Property Using Nextplace.com.au”
- How to Research an Area Like a Secret Agent–This is probably my favorite module. Researching an area is very important and this module has seven lessons to help with that:
- “Researching Demographics”
- “Finding Government Housing Areas”
- “Find Out How Long a Property Has Been Listed”
- “Finding Previous Sales History and Assessing Value”
- “Estimating Rental Income”
- “Find Vacancy Rates”
- “Get RPData Reports for Free”
So there you have a look at all the lessons that we have available at the moment. What most people love about On Property Plus is the fact that it helps them to research and find properties.
Our listings will show you positive cash flow properties. I update these weekly and I’ll put in about five new properties a week or 20 per month and you can see the returns. We have an archive with over 80 properties at the moment and I think it’s really useful even if you’re not ready to buy yet but are planning to in the next few months. Seeing a positive cash flow property can really help you know what to look for.
The tools are for people that are looking to buy and doing their own research:
- The Advanced Property Calculator: I think this is the best tool. It is really useful during your research because you can analyze properties quickly and easily to get a good idea of how they’re going to perform. Once you enter your information you can then save it as a PDF and it will give you a summary page, purchase price, total cash investment, weekly income, interest rate and more. You can then print out the report and show it to your mortgage broker, business partner, spouse or whoever you want.
- Town Population and Statistics: This tool goes through the populations of different towns. So rather than using the McLean method or property magazines you can start with towns. Then you can narrow down the search based on population.
- Discover Vacancy Rates: This tool links through to SQM research which you can use to find the vacancy rates of any area. It’s not something that I own but it’s a convenience for members.
- Financial Freedom Calculator: This will help you set your income goals. Just enter your information and it will tell you how many properties you need to reach your goal.
The ultimate decision to join On Property Plus is up to you. You can always do a month and go through the lessons and listings. In the end you only pay about $30. I want what’s best for you so I’m not going to do a hard sell because even if you want to wait a few years that’s OK. I think the lessons, listings and tools really open your eyes to the possibilities though and show you that there are positive cash flow properties out there.
I hope that this has helped answer your question Debbie. I really appreciate you asking it. Depending on how close you are to investing maybe joining for a month would be better for you instead of a full year.
Until tomorrow remember that your long term success is only achieved one day at a time.