Hi Guys,
I'm not new to the forum as I have read it for few months now.
Where I am:
- Bought a unit in Dee Why end of last year, like to confirm I have done well ($500k price, most probably is worth now $550k+)
- Got good $ aside in the offset
- Property is rented as I will move into this one early next year.
Originally, the plan was to buy another property (house), in Frenchs Forest and live in there only in few years, and keep the Dee Why property as an investment.
I guess the market has gone crazy and not sure I want to put my self into buying a $900k property when I can start diversify
The plan:
Start using the equity built in the Dee Why unit to buy investment properties.
Ideally, I would be looking at neutral positive / cash flow properties and, whenever possible, buying under market value.
The goal of the latest sentence is to use this equity to keep on buying
My issue:
I m still relatively new to Australia (been here 5 years) and know only the small north shore market (and not considering my self an expert...)
I wouldn't know where to start to find places that will tick the boxes I need (positive CF, market not too hot and possibility of CG)
As an investor:
I m not a speculator. I will buy to hold. I won't buy in mining towns, I like risk but not too risky
The help:
Looking at some insight on where I could start building the portofolio. Knowing that I have probably probably around $200k as a purchase price (with the equity of Dee Why)
Looking at a mentor who is happy to share his/her experience, for me to avoid basic mistakes, and could guide in the process.
I'm not new to the forum as I have read it for few months now.
Where I am:
- Bought a unit in Dee Why end of last year, like to confirm I have done well ($500k price, most probably is worth now $550k+)
- Got good $ aside in the offset
- Property is rented as I will move into this one early next year.
Originally, the plan was to buy another property (house), in Frenchs Forest and live in there only in few years, and keep the Dee Why property as an investment.
I guess the market has gone crazy and not sure I want to put my self into buying a $900k property when I can start diversify
The plan:
Start using the equity built in the Dee Why unit to buy investment properties.
Ideally, I would be looking at neutral positive / cash flow properties and, whenever possible, buying under market value.
The goal of the latest sentence is to use this equity to keep on buying
My issue:
I m still relatively new to Australia (been here 5 years) and know only the small north shore market (and not considering my self an expert...)
I wouldn't know where to start to find places that will tick the boxes I need (positive CF, market not too hot and possibility of CG)
As an investor:
I m not a speculator. I will buy to hold. I won't buy in mining towns, I like risk but not too risky
The help:
Looking at some insight on where I could start building the portofolio. Knowing that I have probably probably around $200k as a purchase price (with the equity of Dee Why)
Looking at a mentor who is happy to share his/her experience, for me to avoid basic mistakes, and could guide in the process.
