[/quote]

oo3c  Hi, before I start a property portfolio I would put say 10-20 K in a share portfolio  which can be  used as a buffer, they can  be cashed out quickly and easily, give posslble high capital growth .  They may  give you more confidence to buy higher risk, higher return property.  They wil still count as asetts on loan application.  If you follow Ryan advice, which I consider irresponsible, I think a strategy which include a buffer is a must. Cheap houses are usally cheap for a reason.                                       My prefered strategy  is to look for land in towns over 10,000 pop, find places that have limited supply,  in the most desirable location, put down a 10% deposite, usaully to a devolper who needs to get some sales under his belt. Settlement is after a building  permit is obtained.  I should get a building permit on current property in weeks, purchased feb 09  for  100,000 but only paid 10,000 deposite, money was borrowed,  after tax deduction on interest , cost   $500 dollars+ 700 for solicitor to draw up contract.  Costs so far is $1,200 the land is now worth  $150,000+.   I was planning on buying  3+ of these properties,                   As I had little knowledge about property and about  to commit some considerable money to it I  went to 3 semminars they all told me   B.S.  dont  buy in regional areas , smart people buy  within 12K of  a capitol city.   So silly me Listened to their advice  bought a property through a person who claims to be a best selling author it yeilds 25%  less than what they said their minimuim yeilds would be, 3.3 instead of 4.4  took over 2  months to find a tennant, and now have to work to pay for it. Luckily I partly ignored these  gurus advice and  bought  at least one property that they said was a stupid thing to do.
, Just wish I could have bought more but the banks arent very co-operative after buying the negative geared melbourne property             One of the gems this agency offered to me at a bargain below market value,latter want to auction and sold for 13% less   Another time also bought land found only 2 blocks available so I bought them both sold one for 30% profit with in 3 weeks didnt even have to pay stamp duty.  This was also in an area where the experts tell you not to buy.                                                                                       So   my   advice is dont listen  to advice.     Seems to me all these"proprty educators' just want to haze you to their particular niche in the markrt place.        Keep your eyes open ,  dont rush in to anything just to spend your money . When Oportunity presents it self  be prepared to act when it does. It can be any where but probably not where most people say it will be.