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Updated over 7 years ago on . Most recent reply

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Edward Ottorino
  • Burwood, Victoria
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Brand new - looking for advice

Edward Ottorino
  • Burwood, Victoria
Posted

Hi everyone

I came across this website in 2016 but never really participated a lot in it - now I have decided to post my first ever thread!

I have long been interested in real estate, but 100% of that time has been filled with me just dreaming about it, never actually doing anything. So today I have taken the first step and hopefully this will be a fruitful one.

This is my first post, so I will make it simple and ask 2 questions only:

1. I am complete beginner. I have read the ultimate beginners guide and for me, what I like/plan to do is that when starting out, I have zero. I have nothing. Therefore, let's say I am able to purchase my first ever investment property, wouldn't it be better to sell my very first one, which means while I lose out on the opportunity to get passive income (rental), I get a huge chunk of cash, and then going forward with my next properties, I can maybe buy 2 more properties, and then rent them out. In essence, I will only sell the first one to give me a huge money boost, which I can then use to get more properties and renting future ones. So in short, sell the first one for big money, as a stepping stone. To propel me forward.

Is this a bad idea? Should I never never never ever sell my property until later down the track?

2. Secondly, I currently work a normal job. Not really a question....but what is the very first step you guys suggest I do to start my journey in real estate?

I thank you all for reading. Hope to see some responses. Have a great day all!

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