Hi NU Gen
I am a newbie with absolutely no previouse investment experience.After getting Steves book at the end of september my wife and i jumped straight in.We took a punt on some property we saw on the internet in Tassie.With absolutely no money of our own to invest we were able to arrange through family to buy our first property outright and have used this to secure a loan for a second.The loan for this second property was approved today so on the 9th dec we will take possesion of our second +ve cashflow property.With a total outlay of $93000+ closing costs we have 2x2bed units and a 3 bed house with a return of $240pw gross.We still rent and will not be purchasing a property for ourselves for at least 18 months but will be buying more investments in this time.Actually seaching for the next one now.I wish i had started earlier as deals are harder to find we are thinking more along the lines of commercial property at the moment as there seem to be more gains in this area.Some say its luck but we have made some sacrafice to do this (my dream holiday of a months fishing the top end with a week of fwdriving on Frazer Grrrrrrrr was due back last friday)but i know that what i do today will give me more oportunities in the future.In saying that to the people who are in a better position to me financially and are still thinking and researching their fist +ve cashflow property dont procrastinate and get in there and have a go its not as scary as you think.
Regards
Rob

Hi double2 your cousin should aply for a an improvement loan on her mothers property and use this to buy a property outright then she has a property with 100% equity.From there the sky is the limit