Hi all, long time lurker but finally now a poster here. I have just moved out of my 1 bedroom inner(ish) city apartment and into a 4 bedroom monstrosity in the burbs with my partner. I have always been interested in purchasing an investment property but too shy to pull the trigger. I've got almost everything ready to go, property manager, landlord insurance, depreciation schedule. Hopefully I will be able to get a decent tenant!
. Congrats on starting your investment journey. Good luck buddy, fingers crossed you'll get a good tenant soon. You seem to be well organised with LL insurance, depreciation schedule etc. Any idea what kind of investment goals you have for yourself? If you hang around here there is a wealth of knowledge mate, and the meetups are a great source for networking.
Are you saying you are to shy to get out and talk to people and look for a property? If yes then maybe a BA (buyers agent) will be a good fit for you. They can source and negotiate an investment property on your behalf. OR Is it a confidence thing due to lack of knowledge? If this then stick around and watch your confidence grow. Dont be afraid to reach out cause most of the people on her have a natural inclination to want to help people achieve their goals. All the best.
Many times the first IP is accidental - buy a new PPOR, and rent the old one. It's a painless way to get into investment and often once you see how easy it is, the next one is a bit less intimidating.
That's a good question! I think serviceability is my biggest roadblock followed closely by a long held fear of carrying debt. I won't have enough equity in the 1BR to buy the next property unless I incur LMI and I suspect tighter lending policies would probably work against me as I don't have a high income.
