Hello, my name is Winnie. I am just getting started on my journey of property investing (well since about May 2019 I've been learning, reading books, reading this forum, podcasts etc.) and now I'm looking for a property (I have a pre approval which expires on 16th March 2020). But I think the longer I'm leaving it, the more I'm thinking about it and the more confused I get and now I'm not sure whether my initial strategy is correct or if there's a better strategy for me. I have thought about paying $4-5k for one of those property investment plans at a place like Metropole or Empower Wealth but I decided that for me, being an absolute blank canvas - there just wouldn't be as much value for me than for someone earning a much higher income, have shares and other investments and/or other property. I am working with a buyers agent and they did a brief strategy for me. But I feel like I keep changing my mind and thinking of other things. But this is my current position: Where I currently am: 26 years old, single, living with parents Software Engineer full time (started job in July 2018) $67,200 PAYG gross annual income with capacity to increase as I have more experience in the industry. No properties, no investments or shares. $140k cash savings About 34 years till retirement (if I want to retire by 60) Have a pre-approval for approx $500k (10% deposit + buying costs with my cash deposit), max $550k if doing a 80LVR on Interest only - these numbers are by my investment savy broker). Wealth Creation Goals: Short term goal of 3 properties by the time I’m 30 (It looks very unlikely since I am entering the property market so late, I see so many 18 year olds or people in their early 20s starting already). Long term goal of $200k a year passive income. $4 million in net assets debt free (more if I am to consider inflation). 8 x $500k properties before retirement. Retire at 60 years old. (or earlier if possible) Other Considerations: Moving out? I will eventually think of moving out but not in the immediate future. I plan to acquire at least 3 investment properties in the next 5 years or so and after that, then I will think about moving out. PPOR? My first priority for now is investing and wealth creation. If it’s possible and I’m tracking well and can afford to squeeze in a PPOR, then yeah but it’s not a priority within the next 3-5 years at least. Partner? Will they be involved in my wealth creation journey? And be able to share my assets? At this stage, I am thinking no. Even if they are a partner or I get married I would like to keep my finances separate. I might assign some money into a joint bank account where we can invest together or something. Kids? No plans for kids in the near future, need to take care of myself and get to a good place first. The initial strategy: Balanced cash flow and capital growth. Yield 4.5-5% since I am not a high income earner. Buy an existing house or minimum a townhouse in Brisbane. Since yield would be better and easier for me to hold. Decent sized land - close to amenities, public transport $440-480k price Following this initial strategy, my BA recommended Moreton Bay region, which I was happy with. But the first house I was presented with was 40km away from Brisbane CBD. That was a bit too far for my liking even though it was a decent house on a very big piece of land. The price was $440k. I am also concerned about capital growth prospects - as I am currently 26. I have less than 4 years to achieve the 3 properties by 30 goal. The first strategy change: Increased my budget to $525k maximum budget. Buy closer to Brisbane CBD (< 15km) Lower yield 4%+ Buy something with renovation potential. Because I am always assuming a worst case scenario. If the market is flat, I can do a cosmetic reno down the line but is good enough to be rented out from the get go (maybe in 12 months time after I learn more about renovation because that's another can of worms). Following this, we focused our search around Boondall approx 14km away from CBD. But after having offers rejected and not much stock on market (I liked the fact that there wasn't much stock but it really limited our options for finding a good deal) we haven't been able to find something there for now. Second strategy change + concerns: Continue to try to find properties as per the first strategy change above (looking at neighbouring suburbs to Boondall like Banyo and Geebung etc). But my concern is growth - I don't believe that Brisbane will have 'a boom'. My BA also tells me that there's no way to predict growth in a suburbs - we can only see whether that suburb has solid long term growth fundamentals. Which I agree with, and I am not after big gains, but I just want enough equity for me to be purchasing my second property in the next 1-2 years (Going back to my original short term goal of 3 properties by 30). And it seems besides buying a property with renovation potential there is nothing much I can do to mitigate this risk of the property not growing in value but to sit and pray. And I thought buying and praying isn't how you do strategy property investing. But it seems like I am going to go down that route. My next priority after securing my first property will be looking for a new job to increase my salary but what can I do my buying a property perspective? Besides buy and pray? My BA and I came to an agreement that we can extend our search to areas that are a bit further from Brisbane CBD (approx 25km) like Bray Park, Strathpine, Bracken Ridge, Deagon and up to Lawnton, Petrie and Kallangur and search for something around that $400-450k price range. This would leave me with 'some' borrowing capacity left (if I got something around $550k, that would absolutely be stretching my current borrowing capacity) so that I can purchase my second property next year. Other strategies I have thought of/not sure if worth considering: Getting something around the $300-350k mark maybe an apartment or townhouse. So then I would only be using a little over half my current borrowing capacity. This would make it easier for me to purchase my second property? But my BA reckons I would not be able to get anything quality for that price point. That means capital growth would be even worst off. Instead of purchasing in Brisbane (lower capital gains in general) maybe consider an apartment in Melbourne/Sydney instead - which might mean lower yield or even negative cash flow but I have a higher chance of getting that growth that I need to move into my second property. But maybe someone will tell me that there is a chance to get better capital gains in Brisbane than for some suburbs in Melbourne/Sydney but I don't know which suburbs would be able to do that for me. I have heard of 'making money when you buy the property', which means you find good deals under market value such as mortgagee sales etc. But so far, what my BA has presented to me are all properties you can see listed on realestate.com or domain. I did find a mortgagee auction listing on realestate.com but my BA said that it wasn't close to amenities and not positioned well. My questions to everyone is: In your opinion, which strategy do you think would be best for someone is who after solid long term growth but with a short term goal of 3 properties by 30? Would you be able to explain some pros and cons of each strategy? Do you have an alternative strategy that you think would work better? Would you tell me that I am being silly and unrealistic and I should ditch that short term 3 properties by 30 goal? If so, what would be more realistic? Winnie you are overthinking and stuck in analysis paralysis! Just buy your first property and be done with it! Should I be going and paying that $4-5k to get a property strategy plan written out for me at a place like Empower Wealth/Metropole or any other recommendations? Anyone keen to make friends? xD Thank you for reading my long ass post!