1st time buyer

Discussion in 'Property Investment Strategies' started by leofus1985, Jun 7, 2017.

  1. leofus1985

    leofus1985 New Member

    I’m getting a settlement between 50-100k and I want to buy some rental property are there companies that will partner with you? My goal is to buy a property wait 5 years and mortgage it to buy a second larger place and repeat until I have about 500/1000 units


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  2. totallyproperty

    totallyproperty Administrator Staff Member

    Hello and welcome to the forum :)

    Can i ask why you are looking to partner with a company... is that to increase the overall investment funds, or are you looking to invest for someone with development experience? Also, why 5 years before mortgaging and releasing your cash?
     
  3. Lime Auction House

    Lime Auction House Member Forum Partner

    1000 units sounds like a good dream but they are very hard to manage, and it will take long to get there.


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  4. diyhelp

    diyhelp Active Member

    No offence but 500-1000 units is a big jump from just starting out. Set yourself short term targets which are achievable and keep your eye on the longer term.
     
  5. Lime Auction House

    Lime Auction House Member Forum Partner

    Well said


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  6. nmb

    nmb Well-Known Member

    Small steps - start small and learn along the way. You will never stop learning but when you have enough confidence and experience then you can ramp up your unit numbers.
     
  7. Longterminvestor

    Longterminvestor Administrator

    The key is not to rush and over extended what time you do have or your finances. You need as much headroom as possible between your net assets and your liabilities so that you could survive a downturn in the market. Too many people are in a rush and over stretch themselves and everything comes crashing down like a pack of cards.
     
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