Hi everyone,
Thought it's time i better put my hand up for some advice, I have looked at joining investment property mentoring company's (PRE) and decided I would rather learn and do things on my own, I'm reading books and scanning this forum most nights.
I am 27 years old and I currently have 2 IP's
One in port stephens loan amount is 240k value 310
Another in Logan, loan is also 240 and value 310
Earning 90k a year.
I have 85k saved up and am considering a third propert in Logan.
Finance has advised I would be able to borrow 500k.
Now I read it over and over again how important planning and strategy is, my end goal is to create a income of 100k in the next 10 years.
How do I go about planning a strategy to get me to this goal which defines what sort of property I should be looking for next? CF or CG?
I know I am not a guru and I am prepared to seek advice from professionals and continue researching until I feel confident that my next purchase will be wise.
I do enjoy searching for, inspecting and negotiating deals myself, I just want to ensure that I have planned a suitable strategy and not very sure how to do this.
Thanks
(prepared for a grilling)
Thought it's time i better put my hand up for some advice, I have looked at joining investment property mentoring company's (PRE) and decided I would rather learn and do things on my own, I'm reading books and scanning this forum most nights.
I am 27 years old and I currently have 2 IP's
One in port stephens loan amount is 240k value 310
Another in Logan, loan is also 240 and value 310
Earning 90k a year.
I have 85k saved up and am considering a third propert in Logan.
Finance has advised I would be able to borrow 500k.
Now I read it over and over again how important planning and strategy is, my end goal is to create a income of 100k in the next 10 years.
How do I go about planning a strategy to get me to this goal which defines what sort of property I should be looking for next? CF or CG?
I know I am not a guru and I am prepared to seek advice from professionals and continue researching until I feel confident that my next purchase will be wise.
I do enjoy searching for, inspecting and negotiating deals myself, I just want to ensure that I have planned a suitable strategy and not very sure how to do this.
Thanks
(prepared for a grilling)