All Topics / Help Needed! / Getting off the corporate teat

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  • Profile photo of chuckleschuckles
    Participant
    @chuckles
    Join Date: 2006
    Post Count: 2

    Hi

    I was hoping for some advice. I have the aim of becoming a full time investor within 2 years. At present I can negotiate with my employer to drop to 4 days a week – I can choose where I work – either Sydney or Melbourne. I have a reasonable portfolio already but need to rely on my salary for cashflow for future deals at present (assume salary of 150k after 20% drop for 1 day off).

    Where would you work from Sydney or Melbourne? The deals I want to start on a buy/renov/sell and by/subdivide/build/sell.

    Thanks in advance

    D.

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196

    Hi D

    If you want tokeep it really simple, i.e. "Where would you work from Sydney or Melbourne?", I'd suggest you stick with the market you're most familiar with.  This is because IMHO there are plenty of buy/renov/sell and by/subdivide/build/sell in either Sydney or Melbourne.  There are certainly advantages in starting off in a market you know.  Good luck.

    Cheers,  Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of propertypowerpropertypower
    Member
    @propertypower
    Join Date: 2006
    Post Count: 312

    Hi chuckles,
    It does not matter whether you base yourself in Sydney or Melbourne. There are plenty of opportunities. if I were in your situation I will invest in different states in Australia. Each state within Australis is like a mini-market in itself and may go through its property cycle. This ensures you are not putting all your eggs in one basket. Also, you need to balance your portfolio with few buy & hold properties and few trading properties (renovation, subdivision, etc).

    Profile photo of Don NicolussiDon Nicolussi
    Participant
    @don
    Join Date: 2005
    Post Count: 1,086

    Stick to the market you know best – good luck.

    Don Nicolussi | Property Fan
    Email Me | Phone Me

    Learning, having fun and doing it!

Viewing 4 posts - 1 through 4 (of 4 total)

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