I really have no idea what I am doing but do want to start investing so I have something for retirment.
Back story : Mid 30s, Homeloan, approx 130k equity. Few bc shares, small amount of cash in bank.
I've heard about a investment strategy where I should be buying an investment property or 2 every year for 10 years, renting these out and at the end of the 10 year period sell 5 of the houses to pay off the other houses.
Does this actually work or has anyone done this? I earn an OK income but would hate to have more than 1-2 houses not rented as I'd have to earn more money.
I'm sure these threads come up from noobs from time to time so apologies in advance. Just wanting some advice from experts.
Back story : Mid 30s, Homeloan, approx 130k equity. Few bc shares, small amount of cash in bank.
I've heard about a investment strategy where I should be buying an investment property or 2 every year for 10 years, renting these out and at the end of the 10 year period sell 5 of the houses to pay off the other houses.
Does this actually work or has anyone done this? I earn an OK income but would hate to have more than 1-2 houses not rented as I'd have to earn more money.
I'm sure these threads come up from noobs from time to time so apologies in advance. Just wanting some advice from experts.