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If you had a deposit of $70k and was chasing a high growth area where would you buy right now?
I don't have the knowledge or confidence to do a development anytime soon. I'm thinking a set and forget property with good depreciation and growth so I can get my portfolio rolling. Also with developments can they be too difficult to manage when you live in a different town?
Would be a buy and hold long term. Could someone please give examples of exit strategies?
Am i missing something?
So ideally you need around 10 properties for this method to be effective?
Thanks for the comment nhg. I may need to think a little more about my plan. It's just I am keen to get things rolling. I have a mining job with good income for now but I want to get out of it after 5-8 years. I am hoping to set myself up in this timeframe
Yeah their are definitely a lot of unhappy people out at the mines. I have already been out at the mines for 8 years and although I have three properties now I have only just really started to take property investing seriously. If you don't mind sharing i would love to hear a bit about how you started out and what your goals and strategies are. We are both around the same stages in our lives.
Forget about depreciation it's just icing on the cake.
I would be looking for a property that has development potential, doesn't mean you have to develop it. From clients that I've seen who have had the most significant growth has come from properties that have either been purchase with the intent to develop or have inadvertently purchase a property that has development potential. As the area gets developed the value of the property continued to