Global mark I hope you are fully aware of the statement you have made:15% return and a growth of 50% quarterly. Thats hardly believable. About other strategy i was thinking about Wrapping but it is hard with low socio-economic classes because they pay through centrepay and cannot afford something without rent assistance.

Hi guys,
I got a phone call from the Rate buster guy. He said he was ready to negotiate if I was happy to wait for two months. I said no thanks then I explained him my financial position and that many other companies would be happy to waive the time rule. Guess what…
He apologised and said that he was happy to send me my pre-approval as soon as i finish my documentation.
Interesting isn't it?
Thanks anyway

thanks Wealth

I must admit 888Abundance…
You have made some invaluable points, most important I suppose is starting slowly/safely and then grow my experience knowledge in the field. I believe I have a good platform to stand on and especially passion and will however I wouldn't want to dampen my enthusiasm with big mistakes which are usually made at the beginning of something. Probably I''ll start with a unit or something bigger but in the country. What is your view on strata title?
Thanks for your support
Andy

Well I can assure you V8ghia it has not been easy. I have worked hard hours 3-4 different jobs at the time.
Lower end of the market is a good idea putting a big deposit. however it depends what is your perception of lower end in Melbourne, giving the fact that I would like to do just like Mark buy free standing properties and in Melbourne there is nothing below $200K semi-decent. Otherwise I will need to go to the country but as first time investor I am not that sure about that specific market. Also how come many people advice against buying units or in general strata title like apartments. I figured that if they were a good investment I could buy 5 or 6 of them. Some of them especially in Melbourne CBD or neutrally geared or even offer positive cashflow. I am sure they have a bunch of reasons not to buy them I 'd love if they could share them with me. My ultimate goal is to create a monthly income based on rentals (as many people i can imagine) a little bit Kiosaky style.
Ciao

Thanks for adding your comments, i really appreciate that.
– Okkamooie the answers for you:

When it comes to be handy im not a very handy person although i give anything a go, for example to my ex father in law house i installed 12sq m of raw parquetry, then sanded and polished it. I can do with a bit of painting, replace gutters…nothing major though.

About my own property i am not sure as I am happy to rent as long as i can establish my IP. In other words investing comes first, at the cost of renting a unit for years on end.

The third question is probaby my weakness. I can negotiate a deal no problem but when it comes to assessing a piece of land, a building, a development and all the legalities, contracts etc… I am at a loss and worst thing I trust NOBODY! This is probably why
a) I haven't bought a property yet 
b) I joined this site to communicate with passionate and genuine people like you and exchange support and wisdom.
Hope this provides you with a clearer picture.

Lalibella
I am sure that NG works for many and probably is my ignorance about this whole thing that makes me seeing NG as a Negative thing (pardon my pun). But you are right it is definitely limited by your income. As far as marital status im single and about my age i am still relatively young (30yo) although when i read in IP magazines that there are people as young as 23 with already 15 properties in their portfolio my heart drops into my socks. Im not familiar with 1515 tax variation. I am also aware I should have clearer goal and also like you did, create a business plan. DON"T KNOW WHERE TO START. Probably being clear about what you want to buy (as you mentioned only free standing properties) helps!

Thanks for your comments though.

Of one thing I am sure I am sick of chickening out whilst the market goes up and others get rich!