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Hi ej89, Capital wise approximately 12% of purchase costs, most of the loans were at this LVR apart from the renovations at 20% When I first started, I was on $70,000 and finished at $85,000. In saying that, I am still paying HECs so the actual lend is somewhat less than this...

Hi Tyrone! Good to see you found Somersoft :) I can share the cashflow on my first Brisbane purchase. This was a generic high set with shower and utility room downstairs. Suburb - Slacks Creek Purchase Price - $280,000 (May 2014) Income Rent - $19,240 ($370 per week) Expenses Council &...

Thanks MFlying. Almost there - can see the light shining brightly at the end of the tunnel, will update once I reach that goal. Hoping one day can replicate your success in property developing :) Cheers, Michael

Hi Andrew, I agree, a strong network is key to success. On your questions 1. Revaluations - the valuations are through the banks. Different banks use different valuation companies, so it allows you to shop around. From experience this is more effective than trying to dispute valuations. Your...

Nice work on getting to IP3 at such a young age :) Always good to see like minded investors! On the questions 1. Each suburb has good or bad pockets. For example, Slacks Creek can be broken down in several sections: i) Between Queens Rd and Paradise Rd. This was originally Kingston but later...

Hi AVS, Glad my post helped and happy to help on your questions CF or CG - everyone's situation is different. If you have a strong income then you can afford to make more capital growth speculations. In saying that, although your income is strong, I wouldn't recommend buying too many...

Hi Giswal, Sure happy to help. On the questions 1. Team - I would recommend starting with a mortgage broker, accountant and solicitor. From there you will need property managers, real estate agents, tradies, B&P inspector etc. Start with the first three and can expand from there. I would say...

The two suburbs in Newcastle are Cardiff ($225,000) and Gateshead ($195,000). I was more driven by the deal as opposed to the location. At the time I was looking all over Newcastle, and settled on these based on the purchase price. Looking back I should have picked up a few more in 2013, it was...

Congrats on branching out from Sydney! I am sure the best growth in Brisbane are ahead of us. I am actually leaving work fairly soon, just need to wrap up two more deals and that's it, handing in the resignation. Originally the goal was to replace my work income with rental income, not quite...

Yes, vacancy is always an issue - particularly over the Christmas break. That's something you need to keep in mind for student rentals. Most students are simply looking for a ready made place to stay so furnished rooms are much easier to lease out and you can ask for higher rent. Internet...

I did several pulls in order to fund my purchases in Logan. One reason why I was able to accumulate quickly were the 3 renovations which allowed me to recycle the equity and go again. 3-6 months after each renovation I had the funds ready in my offset account. On top of that, Sydney had a...

Holy smokes - that's mind boggling! I would love one day to achieve the success you have. Just shows what's possible through property investing, thanks for sharing :)

Hi 7smurfs, Congrats on two properties at age 26yo, that's impressive at a young age! I did something similar. Moved into my first purchase to get the first home owner's grant and 12 months later moved back to my parents with my tail between my legs - I was flat broke. Eating out each night...

Wow 23! That's amazing :) Definitely something to aim towards one day. Always inspiring to hear what others have achieved. Agree it's a great time to buy in Brisbane. Over the past 8 months I have seen some decent growth in the Logan area and believe the best is still ahead of us. In...

Congrats on the PPOR and welcome to the world of investing :) On the questions: 1. If there is equity in your PPOR, this can be drawn down and used as deposit for future IPs. When the serviceability is calculated it does take into account the future rent of the property. 2. To borrow from...

Hehehe, exactly the same. Alot of my friends told me I was replicating the US Property Crisis and said I would go bankrupt.

I am sure you would have gotten some at amazing deals Suraj :) Wish I started buying there earlier! The market is certainly trending upwards.

Hi Plantagenet, Congratulations on starting a family. To me that's more important than any number of properties. On fixing loans, it's hard to give advice without knowing your goals. Is it one of accumulation or your strategy is to set and forget? Most of my loans are variable with only one...

Unfortunately there will always be nay-sayers out there. My suggestion is to reach out to other SS investors and surround yourself with like minded individuals, it's a great way to stay motivated. Private messaging forumites is a good way to build contacts and you will be surprised with how...

For the first IP, I was forced into saving. Bought off the plan and had 2 years to complete, so gave me something to aim for. Probably the only good thing from buying off the plan :p I wasn't a good saver prior to this so the pressure helped. For the subsequent purchases, when I realised...