Emo,I am in almost exactly the same position as you. 1 house we...

Emo,
I am in almost exactly the same position as you. 1 house we live in, 1 investment property. Also want to buy 5 in next 5 years. Our problem is that at the moment we are trying to overpay our own home, and all investment peoperties in Oz seem to have a shortfall btwn rent and mortgage. We are looking at Bayside or Geelong. Great properties in Geelong, but not much rent.
I am from UK, and have 2 properties over there. Rented out to students. Both geared to the hilt, so cannot sell them for now.

Kincella,
I agree with you re setting goals. I have just come out of nappy stage with 3 children which rather took up the last 5 or 6 years and we did not persue investments. Life has a habit of getting in the way. Now of course the housing market went nuts in last 5 years! But, we are back on the page for the next 5 years.

Also, in terms of influence. My mum hung on to her home for dear life through a messy divorce. She has rented rooms ever since which now supplements what would otherwise be a pittance from the government. My influence is FEAR (gosh, I am being very honest on a public site!) ... of having nothing to live on in old age, as I have absolutely no faith that we will have any pension when old. I don't need to be rich, don't need much stuff, but do want to be financially secure.