I see your point catalyst lol. Our reason to get into property is to free ourselves financially. We have been driving around Mt Evelyn [victoria] last few days and have found some areas that we really like. Few other options but firstly getting a feel for an area that we like. This property forums has really helped in answering some of the questions I have had and confirming I am on the right track, even if very early. All I can say is thankyou for your support. There is so much to research and we are finding obviously different strategies have different things to research. We are tending towards the buy under market value and renovate and then revalue release that equity along with some CF+ properties. OUr PPOR is goint to be in Melbourne's east but IP wise we are happy to look in other states and obviously use strategies that would benefit that area.

Can I ask other people who have gotten this far. What sort of team do you need around you for a good support. The ones we have thought of are in no particular  order

1. Mortgage Broker
2. Accountant
3. Conveyancer

We know there would be others but who are they and what a good way to find some ones. I assume word of mouth is best way or one of better ways

Thankyou in advance

Stephen

Hey guys thanks for replies.

JacM you want to know a bit about us. Well we are married have 3 kids under 4 . My wife stay at home mum. I work 5-6 days a week earnign approx $80000 per year. We currently renting in Croydon in melb. Looking to buy around MT Evelyn, Montrose or the Basin which is in Melbourne as kids going to school in Mt Evelyn. We just opened a first home saver account so have 4 years to access funds. This may seem like a funny thing to do. However we feel totally comfortable with this idea. Another reason is our bankruptcy is finished in 4 years. to hard to explain what led us down this path. Suffice to say that is done so it forces us to wait.  Our initial plan is to buy our PPOR hoping to be under market value do some renovation get it revalued a year later after purchase and release that equity to buy our first IP. We are not really locked in just to Melbourne.

We are interested in buy and hold in other states as well that have good prospects. Just have to do our due diligence [what is this] I guess. We just really want to get a solid idea on how to approach this property investment path we have started on. I am the sort of personality that when i start something. I want to find out so much about it but I want to getg it right and Know I am on the right track as if I dont understand something. I can get a bit frustrated that I dont seem to be understanding it. Which then hampers everything. So any help would be GREATLY appreciated. Please help us anyone and everyone lol.

All the Best

Stephen

Hey

So we have layed a plan of attack for our investment future. Our end goal is to be able to live off property. So passive income is the goal.  We like the idea of renovation to increase equity to fund further purchases. Buy and hold is also and option. Any further help would be appreciated. Only getting few responses from my posts so far getting bit disillusioned

Thankyou Jamie I value your feedback.

Have a great day

Stephen

Hey Guys

Thanks for the replies. Initially we are looking to purchase our PPOR and from that gain some equity through minor renovation to obtain a investment property and then another and another and so forth. We have kinda done things backward but now our eyes are slowly openbing to the benefits of property investment. What I mean is we have had our kids first now have 3 kids under 3.5 so money can somewhat be tight but lucky enought to be in a job that pays well enough to save a bit as well as live lol. We are very much in the infancy stage. Seeing we are locked in for 4 years of saving which will do us good and give us a chance to research researea resaerch.

We are able to obtain first home owners grant [as long as it is still available] A tentative figure we will have available to put towards deposit etc will be approx $50000-75000 of savings. We will be looking around outer eastern melbourne some suburbs include The basin, Montrose, Mt Evelyn, Lilydale etc as our kids are going to school in Mt Evelyn. Prices now for what we looking for is about $350000-400000 so who knows what it will be in 4 years.

There are so many ways to invest in property I guess our initial interest is minor renovations to increase equity that would then fund further purchases in the future. I think different ares that you would buy in would have different tactics related to an area. I look forward to my experience growing through fellow investors replies to my questions. We would be so grateful to any one who has any helpful tips to a couple just starting down the road of property.

Thankyou in advance and thanks to the people who have replied so far

Stephen and Katrina