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Thanks for sharing that encarta. thats not a bad piece of real estate right there! my broker has come back with a $300k pre approval so I do need to stay below this price range.

Hi Everyone! Well it's been nearly 12 months since last purchase so I just wanted to update the details of the portfolio; Chevron Island 2 bed unit - purchase $185k - cmv $240k Newtown 2 bed house - purchase $207k - cmv $240k Rockville 3 bed house - purchase $215k - cmv $230k Given my...

Hi Blackenator, Not sure how we are in a similar situation?? but hope it is all going well for you! Quick update - IP #3 settled and all went well with settlement. Looking to save up a buffer of at least $40k before next purchase ($10k buffer per property)- currently have $25k buffer...

Hi Moneyman, I have not taken depreciation into consideration, all three are over 30 years old unfortunately. Would you still recommend I look into it?

Hi Moneyman I have purchased another house in Toowoomba (Rockville). 3 bedder for $215k and rents for $265 per week. Current portfolio with recent valuations consists of; Gold Coast Unit - $220k rents for $250 Toowoomba House - $220k rents for $260 Toowoomba House - $215k rents for...

Hi Blair, The property is a little run down and has value add potential through renovation. It is the cheapest brick house in Toowoomba at the moment. If I purchase this property I would not look to add another property for 3-4 years by which time I would like the whole portfolio to be...

Hi Asheam, Thanks for your reply. Basically, I have searched many large regional towns in which I am comfortable investing in but it is hard to find a true cash flow positive property. I like Tooowoomba and believe the long term growth prospects are bright. In saying that, the property...

Bump Hi All Just bumping this thread, I wanted to hear everyones opinion on my situation. I have found a house in Toowoomba that I am pretty keen on. It will put me at $150 per week negative cash flow using conservative figures (across all properties). Based on my $850 per week take home...

Hi Mikezen, I haven't had Toowoomba revalued but it is tempting. I bought early last year. It is a 2 bedroom cottage in Newtown in the mixed housing zoned area. Rent has increased from $250 to $260 and generally quite happy with how the investment has gone so far. I have heard that a lot...

Great post Alex and I hope you also achieve your goal of retiring at 60. I will be updating this thread as things start to progress but as previously mentioned, my gut feeling with this is to save up a more substantial buffer (something around $25k of funds AFTER all purchase costs).

Cheers Brady. I am stating $500 as the absolute minimum left over at the end of the month. After having a really good look at my financial position I would prefer to keep building a sufficient buffer so I have $25k as a buffer after the next purchase. What do other people see as a...

Thanks for all of the replies so far. So the general consensus here is that I should focus on strong cash flow properties. I will keep focused on this and re evaluate if/when my income goes up. Whats everyone thoughts on me purchasing another property given my current position? I will have...

Hi NorwoodMan I am not limiting myself to SEQ market but it is my preferred location. I have looked into investing in Tamworth, Bendigo and other interstate regional markets so I am open to that as well. The loans are completely separate from each other and not cross col. i have majority fixed...

Thanks Alexlee, I will go with a figure somewhere in between the 2Mil and 5Mil mentioned. I know property will get me there but I am just not sure on what the next step should be. Have I got a sufficient buffer to purchase another IP now? Where should I purchase if I am going to do so? Should...

Hi Jamie, I recently renovated IP on the Gold Coast - Approx Value $210k based on comparable sales. IP in Toowoomba was already renovated when I bought it so not much scope to do much there. It is on 1/4 acre block with development potential but I don't have the funds or knowledge behind...

Hi Alexlee, Happy to use 3% inflation for this exercise ;) what would the net assets need to be in 24 years? Unfortunately paying down debt would not give me the desired net assets.

Thanks Impala67 Just edited to show $52,000 in todays dollars.

Hi All, Long time reader, first time poster here. I really value the insights and discussion that this forum provides to fellow investors and I hope I can contribute in the future! A bit of background information about myself. *26 Years old currently earning 60k pa; *1 IP on the Gold Coast -...