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.
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.
