Hi everyone. Just joined property chat, but have been viewing for some time. I love property! I was a member on SS and posted a few times there. A quick intro on where i am at on my property journey. Early 2011 purchased a brand new townhouse in an average western adelaide suburb with the intent of being a PPOR. Lived there for 2 years and then decided to move out and rent as i discovered depreciation! Have been renting since. Early 2013 purchased an IP using savings (as i had no equity) as a deposit in Elizabeth North and has been rented out since. As i borrowed at 95% + LMI on both properties i currently have no equity (with negative/no growth according to my bank's desktop valuation in March 2014). Including depreciation and low interest rates cashflow is slightly negative. Im renting with friends at the moment. I earn an average wage (Adelaide average) and taken a step back from property until a time i have equity available for another purchase, and subsequent purchases in the future. I consider property as a long term goal hence i use a buy and hold strategy but am open to other strategies. Currently 29 years old i hope that property will help me achieve enough wealth should i decide to retire before i can access super. For my next purchase i hope to buy a free standing home with renovation potential, mainly to experience it and possible manufactur equity. Not sure how long before i have available equity to do this. I am sitting on the sidelines until such a time - hopefully not too long. I enjoy reading peoples success stories and i love learning from this forum. Thanks for listening.