I'm looking to accelerate my acquisition of assets over the next 7-8 years.
After my next purchase, I'm going encounter serviceability walls at every step so boosting cash-flow is an important consideration--pivotal in fact.
The more ideas in my mind, the more collisions and new outcomes, so spill your thoughts--I'm open to everything.
One scenario I'm contemplating:
1) Buy below intrinsic value AND 10-20% below suburb median
2) Reno back to (or a little above) median price and attain much higher yield
3) Reval and pull equity (enough for new deposit and buying costs)
4) Repeat, when cashflow allows
The ideal outcome would be to create cashflow neutral--or positive--property from day one (enabling me to purchase frequently) but I don't imagine this is too probable. Either way, manufacturing equity and boosting cashflow are both important.
So, what do we reckon? Can I tweak this plan? Other ideas to consider? Anyone experienced at pulling this off?
Yes, increasing my income is part of this plan too.
After my next purchase, I'm going encounter serviceability walls at every step so boosting cash-flow is an important consideration--pivotal in fact.
The more ideas in my mind, the more collisions and new outcomes, so spill your thoughts--I'm open to everything.
One scenario I'm contemplating:
1) Buy below intrinsic value AND 10-20% below suburb median
2) Reno back to (or a little above) median price and attain much higher yield
3) Reval and pull equity (enough for new deposit and buying costs)
4) Repeat, when cashflow allows
The ideal outcome would be to create cashflow neutral--or positive--property from day one (enabling me to purchase frequently) but I don't imagine this is too probable. Either way, manufacturing equity and boosting cashflow are both important.
So, what do we reckon? Can I tweak this plan? Other ideas to consider? Anyone experienced at pulling this off?
Yes, increasing my income is part of this plan too.