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I just signed up myself and am looking forward to learning more about creating positive cash flow.
I am 25 and I currently own a property with my sister clean and clear, and would like to start buying more places with my partner and fill them with tennants. I know there can be a million different pitfalls, not the least of which would be unruly tennants that leave your property in a worse state then when they found it (a big fear of mine)
Obviously I would need to build a deposit (im not willing to finance my current home, would prefer to leave it untouched) once my gf and I save a deposit, we were thinking of starting with units, as they have a lower start up cost. Is this viable, or should we move straight into conventional homes?
I guess I would like to know what is the fastest way to pay off a property, and is it prudent to pay off the first property completely before purchasing another, or should we continue to buy places once enough equity is generated?
Heaps of questions I know yes, and i hope I havent hijacked this thread, but these would seem to be valid questions for anyone starting out. Thanks for your time.