Hi All, I am Roberto and this is my IP story so far… 2005: Migrated to Australia with my wife in our late 20s, with $9K and basic functional English. Luckily we both had skills that were in high demand at the time and got our jobs within weeks of arrival. 2006: PPOR 1. We saved enough for a deposit and purchased our first PPOR in Sydney for $315K. A 2B/2B/2C apartment in Sydney’s Upper North Shore. A high rise building on a busy road with very expensive strata (you know, the kind of property that savvy investors avoid J ). 2007: IP1 and Child 1. While we both worked we saved enough for another deposit and purchased our first IP, a 3B/2B/2C house in Melbourne’s South East (40 KM from the CBD) for $270K with 6% yield. Last valuation was $380k, so even though CG has not been spectacular it has been cash flow neutral since acquisition, so not bad for our 1st IP. 2008 – 2009: Quite period on the RE arena. My wife stopped working after our first child was born. Expenses went up, Income went down, our saving rate decreased substantially, but we managed Ok during this period. 2010: IP2 and Child 2. IP1 went up in value, extracted equity for deposit and costs and purchased IP2, a 4B/2B/1C in Sydney’s West (Blacktown) for $377K with 6% yield. Last valuation was $500K (before the BOOM) so it should be around $600K at the moment. Initially it costed around $3K-$5K after tax to support it, but with the current interest rates it is neutral. Obviously very happy with it. 2011: Sold PPOR. There were many building under construction and a lot more in pipeline so I thought it was going to create an oversupply of apartments and it would impact negative on values. So I convinced my wife to sold our apartment for $450k and rented a place for the next couple of years. I think I got lazy in the investment arena and focussed on career too much, as a consequence I lost 2 years of investment. 2013: Purchased new PPOR. One day I woke up and realised Sydney was moving, so we started looking and purchased a new PPOR, this time a 3B/2B/2C apartment in Sydney’s Upper North Shore in an small building for $570K. Wow, just in time. 2 years later it is worth around $800K. 2015: IP3. Extracted equity for deposit and costs from IP2 and purchased IP3, a 3B/2B/1C townhouse in Brisbane’s South for $335K with 6% yield. Future: The plan is to acquire 3 more IPs around $350 to $400k with 6% yield in the next 2 years. Then let the ,arket do its thing and wait until the portfolio reaches our magic numbers of $4.7M with 50% LVR. By then we will be in our late 40s or early 50s (depending on market), our youngest will be at University and the PPOR will be fully paid off. So ~$120k of passive income (in today’s dollars) should be OK for us to retire if we want to. I am looking forward to learn from others and contribute where possible. Regards, Roberto.