Hi guys, I have just started in the property game. I’m 21 and have just bought my first property. I wondering what my next move should be in terms of getting another one. I’m earning the min wage and am receiving rent from the house now. I know it’s a little early to thinking about another house but I’m super interested. Any advice on how to move from 1 into 2? Or maybe 1 to 10? I understand this is a long game thing am I’m willing to do the miles. Thanks in advance. All feedback appreciated...
Hi Harry Well done on your first purchase at such a young age. It would be good to find ways to grow your income, up skill etc. Its the income that will lead you to a) save up deposits b) have borrowing capacity to grow your property portfolio.
Property Twins are all over it. To grow a true, sizeable portfolio within a 'reasonable' period of time, you need to grow your income. How that looks is up to you, your risk profile. and life experiences. Either via up-skiling and getting a better paying job / self-employed role. Starting a business, or developing / flipping / renovating property. A great starter book to read would be Robert Kiyosakis Cashflow Quadrant. Great start. All the best.
