Hi Steve,
I purchased my first property 2 years ago off the plan. My intention is to begin leasing it out within the next year when I purchase my next property.
I like the idea of the multiplication strategy. I however want to keep my first property and build on my portfolio.
I do not have the capacity in the next year to save another substantial deposit and wonder whether I should utilise the equity to buy another property or whether I should wait another 18 months to save another deposit to reduce debt??
This is all new to me however I am eager to get ahead in the next 5 years, and I really get enthused about property investing.
Your story talked about how you started out with a $40k investment? Are you suggesting a good start is to buy something further out from the CBD to acquire a cheaper property to begin with, and then build on this with the multiplication strategy?
I look forward to your thoughts as I am looking forward to putting these ideas into practice!!
Thanks
Michelle

M.Upton