New to investing, strategy/where to buy?

Hi, I am looking to start investing and need a good strategy to kick start my portfolio, with the aim to build the portfolio to 5+ properties in a few years.

I have around $110k cash, and should be able to service 2x $400-500kish investment properties right now according to mortgage broker. (I also have a PPOR, apartment in Alexandria, barely paid off, no equity, but I might rent this out and rent somewhere cheaper to live.)

As a starting point, I'm thinking of 2 free standing houses in Brisbane or regional NSW, hopefully get a bit of equity within a reasonable timeframe, then use that to get more properties.

What do you think of this starting point? And where are some good places to buy? Is there anywhere apart from Brisbane and regional NSW I should be targeting?

 

I think you looking at Brisbane is the right thing to do right now.

However dont take too long. By the time your approved, shopped around, made some offers etc....house prices are rising weekly. Its crazy out there at the moment especially in your price bracket. That is where all/most of the FHBs are plus now investors are piling back in droves so you got that to compete with now.

 

Thank you thunderstrike888 that's good advice!

 

@kacheek What are your goals/objectives for the portfolio?