Newbie from Sydney

Discussion in 'Introductions' started by Matthew, 5th Jan, 2017.

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  1. Matthew

    Matthew Active Member

    Joined:
    8th Dec, 2016
    Posts:
    27
    Location:
    Sydney 2125
    Hi all. I'm Matthew from West Pennant Hills in Sydney, a newbie to this forum and a relative newbie to property investing.
    I love the forum and posts here, stacked with great information, thank you.
    I'm really enjoying learning and understanding property investing, I'm listening to 2 weekly podcasts, reading magazines, daily newsletters and I've purchased several books lately.
    I'm enjoying the industry so much I'd like to work in it in the future.

    My wife and I are looking to invest in residential property outside of our home state Sydney. We are at the stage where we would like additional income so looking at good yielding positive cash flow properties with capital growth potential, we are pre-approved up to $500,000 loan wise but looking at purchasing several properties in that budget initially then going through there. The end aim is to own around 10 investment properties in 10 years.
    We own our own home, have a minimal mortgage and 1 investment property (a unit in Singleton, NSW) we inherited which is debt free.
     
  2. Property Twins

    Property Twins Mortgage Brokers - Australia Wide Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    1,958
    Location:
    Sydney, Australia
    @Matthew, what's the plan past this 500k purchase ? Have you asked your bank what's next ?
     
  3. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,981
    Location:
    Canberra, Brisbane and Sunshine Coast
    Welcome aboard Matthew :)

    Cheers

    Jamie
     
  4. Matthew

    Matthew Active Member

    Joined:
    8th Dec, 2016
    Posts:
    27
    Location:
    Sydney 2125
    The initial aim is to buy 2 cash flow positive properties with the pre-approval. Once we are up and running with those 2 our borrowing capacity will increase and we can work towards the 10 properties in 10 years.