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How much do I need to start first investment?

Discussion in 'Buying Overseas Property' started by harrison, Sep 18, 2006.

  1. harrison

    harrison New Member

    Hi all,

    I?m an Auckland and I actually have 1 off plan property with 10% deposit that will be settled at end of 07. However I consider that is not a really investment yet. It will be when I can settle it and tenants start moving in....

    So for now, can you give me some ideas for my 1st investment that I will be able to start at October?
    My income is about 45K/year. So how much capital should I have in hand to take action?

    With this amount of equity, what kind of property should I buy and where?

    I have seen a lot of successful investors who don?t have any jobs but after investing they have good cash flow and by the way investing BUY and Hold long term. I want to be like them -full time investing- however I don?t know how much did they start with?

    My feeling was aggressive at the early stage but now I feel a bit lost due to I could not choose the right way right strategy for myself. I?m really looking forward to poomba's workshop at end of Sep and the Richmastery Property Academy at end of Oct. I feel that is long time to wait but I have to. That?s why now I want to share my case with you guys and listen your ideas and advise.

    Cheers
     
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