Hi Josh,
Well I’d like to find a partner who is able to put in $50,000-$100,000 and do 50% of the work – so in return I’d match dollar for dollar and also do 50% of the work. But I’m also open to any other ideas. Shoot me an email and let’s talk: [email protected]

Hi guys,
Thanks for the replies. I had the rent re-evaluated about 3 months ago when the last tenant left.. the problem is the unit is on the first floor and lacks a lot of natural light, so I could only get it up to $310 – and after 6 weeks of potential tenants looking but not signing the lease I decided to take what I could get because I needed the money.

I understand about using $100k to buy 5 properties, but I think my serviceability will be the deciding factor for the banks should I go that route. I am currently geared to 60% of my nett income per week, so I doubt I can borrow more, hence the idea of buying maybe a few cheaper properties (sub 200k) over the next few years to improve my equity position. Does that make sense?

In the short term I’ll be converting my investment property to interest only, and I’m just getting my plan of attack ready to make more money…

Hi Marc,
Thanks heaps for your reply – I did email my mortgage broker about interest only but she hasn’t gotten back to me yet, so hopefully I can get over to an interest only loan ASAP.

I own a software company, so that’s where my income comes from and it isn’t really that high, but I can still handle the payments with about $300-$500 a week spare.

I really don’t have any of the crap a typical 24 year old has – I went through that when I was 20-22 – the sports car, the wanky clothes, etc, no I just have what I need and am very focused on getting out of this rut I’ve put myself into.

I was reading Steve’s book and was thinking about buying a few cheap houses over the next 1-2 years with my own money, obviously because I’m so geared up with my 2 current properties. What are your thoughts on that if you have some time to reply?