How do I start?

Discussion in 'Investment Strategy' started by Allan Burias, 24th Feb, 2020.

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  1. Allan Burias

    Allan Burias Member

    Joined:
    24th Feb, 2020
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    Location:
    Whalan NSW
    Hello Everyone,
    I'm new here in property chat. I want to start investing in real estate in Australia. We currently own a house in Western Sydney worth around 500k with 420k mortgage. So what's the best way for me to start investing? Initially thinking of going for rental properties with positive cashflow but seems very hard to find these sort of properties. Should I go rental or capital growth strategy and which area or suburbs should I invest?

    Thanks to you all!
     
  2. Trainee

    Trainee Well-Known Member

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    Australia
    start to invest by learning. Read all the australian property investment books at your local library. And everything here.

    talk to a mortgage broker about your borrowing capacity.

    go look at properties, learn, but dont buy anything.
     
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  3. Allan Burias

    Allan Burias Member

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    Location:
    Whalan NSW
    Thanks Trainee for this advise. Yeah I could definitely learn a lot about property investing in Australia.
     
  4. MWI

    MWI Well-Known Member

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    Lots of information here to learn or what to learn, start with education.
    As my mentor Jim Rohn (JR) said "...start with education, if you motivate and inspire and idiot you will have a motivated and inspired idiot". No offence meant at all just trying to let you know how vital is education first!;)
    For now I would suggest:
    - Save more than your income (make a goal 10%-30%, what is possible for you?).
    - Read all you can about RE investing CG or CF and other successful stories/books. See what resonates with you.
    - Invest the saved difference.
    - Keep repeating and re-investing for a long period of TIME (for CG!).
    Simple strategy for financial life but requires discipline to do not just to wish.
    Best of luck!:)
     
  5. Allan Burias

    Allan Burias Member

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    Thanks MWI! Will definitely follow all your advise.
     
  6. MWI

    MWI Well-Known Member

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    Sorry should say:
    - Save more than you spend OR some of your income (just noticed!):eek:
     
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  7. Allan Burias

    Allan Burias Member

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    No worries mate.
     
  8. Illusivedreams

    Illusivedreams Well-Known Member

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    Save money while researching.
     
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