I wrote....

> (I'm not a property guy, but I have this on
> good authority from someone I know who is
> now looking to buy his 3rd piece of
> property....)

I just realized that this doesn't mean very much without more background....

This person only works part time (the rest of his time he is completing his studies). He only got interested in property about 2 or 3 years ago. However, in that time, using only his *part-time* income, he has bought himself two properties (using bank loans). These properties give him a positive income stream, and he's now looking towards acquiring his third piece of property....

The main trick is that he purchases places he's sure he can get a positive income stream on.... That is, places where he's sure the rental income he gets will pay off the bank payments PLUS give him something extra. So, apart from the down payment and some time fixing the place up, he doesn't have to spend any more money or time.... The rest is profit.

Not every property will have these characteristics, but if you look hard enough and do your homework, I've seen from him that it's possible to do....

Cheers,

Dien