Achimy mate I'm impressed with your approach and level of research/commitment especially for your age. IMHO your definitely on your way for massive success if you keep this up.
Given my age, I have decided my best course of action is to be a buy and hold long term growth strategy (my long term is considered 7-10 years). I do want to target high growth + at minimal neutral to positive cash flow properties. I would be happy with negative provided the property gave me a huge instant equity boost.
Everyone wants high growth at neutral or positive cash flow straight away (not easy IMO). And you want huge instant equity boost..you got your work cut out for you mate
I'm a local of Sydney, and I don't even bother with the Sydney market as it has it is an unaffordable top of the cycle piece of crap at the moment (even if I could afford it, I wouldn't really go out and buy stuff as I know I'd be overpaying, and who knows how much steam it's got left i.e. until interest rates rise?).
Absolutely right move IMO.
I've been studying the Brisbane market given it's upside potential for growth in the near future (Commonwealth games, infrastructure, CSG, growing population, good stage of the cycle etc.). And I don't do basic research, I do grid analysis, looking at zoning maps, yield variances, demand and supply factors, and where in the cycle a suburb is.
All very good mate.
I have gotten a pre-approval, and I know how much I can afford, and I've gone half of that so I can strategically move forward should anything go against me (basic rule of never over-extending yourself). I also work for a Bank, and enjoy pretty good benefits in getting an investment loan (potential to even waive LMI).
Awesome and good preparation.
For my first property, I feel structure isn't so important, provided the property is leveraged up - but will still reconsider based on a professional solicitors' advice.
OK makes sense. Probably your own name for this but talk to your solicitor. Its also a personal decision.
Interest only because a successful business can only continue over the short term if it holds cash reserves/has strong cash flow (yes treat your investing like a business).
Smart man! I like the thinking.
These are all basic things that any investor should know, which I do. But beyond that, I'm struggling with is building relationships, I'm pretty scared to even talk to agents on phones because I feel I might offend them by low balling or not committing/wasting their time. So hence I need people's advice regarding how to strategically ask agents or look for below market value properties.