Timing and cashflow

[Cjlambert]

Hi everyone, I am a new investor with 3x investment properties. Trying to figure out timing of when to buy. From personal experience, do you buy just as the mortgage broker approves or set a goal eg one per year. Is it foolish to buy too quick? I have just been approved to buy one more so do I just go ahead. My strategy is buy and hold - cashflow positive or neutral. Welcome personal case studies!

[Rosco]

Hi,

Generally property is long term, so there isn't a rush to buy.

If you have purchased 3 recently, then often I would suggest you pause a little bit to make sure everything is working well and you aren't getting to aggressive and getting too higher risk.

I would personally look back at the 3
- can you subdivide
- can you add minor dwelling
- can you add a room
- can you do a smart renvoation to improve rent?

I would also review my 3 rentals and check my cashflow. Is it really positive after all repairs and other costs?

If that is all looking good, then I would buy, but only the right thing for me. Generally that means something with added value and cashflow, but everyone is a little different.

Ross