Hi Everyone, I am relatively new to SS and property investing. I have been lurking around this site for a few months now and reading practically every thread. I have an extensive library of books I am steadily making my way through and I am getting things organised to see a mortgage broker very soon but thought some insight from members on here my help me.
Our situation:
We have no debt, we own our house in Sydney's inner west and although we dont have official valuations it would be estimated at around $1.3-1.5mil for our PPOR. We own this outright. Our income is currently gross $200,000/pa and will rise to somewhere around $250-300,000 when my wife ends maternity leave sometime next year. We have no savings as we just renovated our PPOR.
Is this enough information to assess what we might be able to achieve and how quickly in terms of number of loans/ IPS? We would like to start to purchase as many IP's as possible ( obviously finding them is the hard part). Our strategy is to have a mix of higher yielding positive cashflow properties with a few negatively geared but high capital gains expected IP's as well. I would like to get the +ve cash flow properties first to fuel further purchases but with talk of dropping negative gearing maybe I need to start with those? I guess knowing what we can borrow and how many loans we can get will ultimately determine strategy.
Can anyone assist us?
TIA
Help a Noob
Our situation:
We have no debt, we own our house in Sydney's inner west and although we dont have official valuations it would be estimated at around $1.3-1.5mil for our PPOR. We own this outright. Our income is currently gross $200,000/pa and will rise to somewhere around $250-300,000 when my wife ends maternity leave sometime next year. We have no savings as we just renovated our PPOR.
Is this enough information to assess what we might be able to achieve and how quickly in terms of number of loans/ IPS? We would like to start to purchase as many IP's as possible ( obviously finding them is the hard part). Our strategy is to have a mix of higher yielding positive cashflow properties with a few negatively geared but high capital gains expected IP's as well. I would like to get the +ve cash flow properties first to fuel further purchases but with talk of dropping negative gearing maybe I need to start with those? I guess knowing what we can borrow and how many loans we can get will ultimately determine strategy.
Can anyone assist us?
TIA
