Efficient Alt Setup 9.1.5
GETTING STARTED
For me, getting a new Alt up and running is a fun and exciting experience, you get to see a huge power spike from the weak little insect you were levelling into a medium strength insect, like I dunno, a beetle, REALLY quickly. For me there is two options with how to approach this, the fast and more expensive way, or the cheaper but drastically slower way so have a look which you think is best for you. First things first, pick your covenant and purchase a Broker Mark of Distinction to get your renown straight to 40. You can also grab a Incense of Inifinity from the same vendor to upgrade all your conduits to 200. Both of these items will require at least 1 character with 80 renown on your account, so if you don't have this it is worth finishing off the renown on your main because these 2 items alone save an ABSURD amount of time. If you do upgrade these items, you can head to your covenant sanctum and activate your conduits and first soulbind. I HIGHLY ADVISE AGAINST ACTIVATING YOUR SECOND AND THIRD SOULBINDS AT THIS POINT. I will touch on this later but for now its best just to use your first and start the Alt process.
SLOW BUT CHEAPER
I honestly think its faster to just farm the gold needed for the quick, expensive method in old raids but if you prefer to farm gear for your alts, Korthia will be your best bet. There are plenty of drops from looting treasures and rares. It is also worth going throught your main's bank to check for Korthia Armaments which will create a 200 ilvl piece for your Alt, however you will not be able to choose the secondary stats. This was a more efficient method when Korthia was required for character progression, however with the new patch looming, the Keeper's reputation has become less valuable.
QUICK BUT EXPENSIVE
I say expensive, but it should only be around 20-30k gold depending on your server to get an Alt up and running. This method simply utilizes the huge array of ilvl 200 pieces on the Auction House. These are all cheap and can be chosen to have designated secondary stat. I recommend quickly checking a guide for a general idea of what stats are best for your class and trying to find pieces crafted with those stats. If 100k-200k is a reasonable amount for you to spend on an Alt you can also check for Sanctum of Domination BoE items which are generally quite cheap this late into the tier, as well as 190 BoE weapons and a Darkmoon Deck for your specialisation, however this is not required.
Do however ensure you spend the 1-3k gold to enchant and socket all your purchased items and splurge a little to buy a 230 piece in one of the slots (these are still quite cheap usually around 3-6k). This will give you a great starting point for starting your Alt. You should have purchased 8 main armour pieces (helm, shoulders, chest, wrists, gloves, waist, legs, boots) and 4 off pieces (2 x rings, neck and back).
COVENANT SANCTUM (OPTIONAL)
There isn't too much to be said about Sanctums, it is unlikely that you will utilize your Alt's sanctum that much, however, if you do wish to commit to using mission tables for gold and resources I would HIGHLY recommend that you do the following (Mission tables provide a huge amount of passive gold 1-2k gold per day per alt for 3-5 mins work which can be done through a mobile app):
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1: Level your renown to 80 on your primary Covenant (through callings, world bosses, weekly sanctum/Korthia quests, torghast or comp stomp if its available are the fastest methods) This may take some time and is only recommended if you are not planning to play your Alt in end game content immediately and can afford to play with only your first soulbind.
2: Level 2 alternate Covenants to 76 to Obtain 6 Wisps of Memory total.
3: Switch back to your primary Covenant and use all 6 Wisps of Memory on your single follower.
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This will unlock your troops at level 60 wich will enable you to quickly progress through your Adventure campaign and open up more gold missions.
MID TIER GEARING
At this point your character should be close to 200 ilvl from items with high renown (if a good renown farm was available) which will unlock higher ilvl World Quest rewards. Keep an eye on these for Weapons or Trinkets and aim to either PvP or do low Mythic+/Mythic 0's for gear. If you prefer to PvP try focus only weapon until it is fully upgraded and utilize the Maw World Boss Mor'geth as well as Raid Finder/Normal group finder to help boost gear. After this you can start farming M+ for gear as your most efficient gearing route. If you are playing a DPS class I often find it easiest to push my own key if I am not getting invites a fresh Alt. Keep an eye on Korthia dailies if you still need a weapon as this is one of the most important pieces. Check the weekly event quest (4x Mythic 0's will reward a 239 item). To gear up alts ASAP in M+ consider queuing as Healer or Tank if your class allows it to reduce Queue times. Once you have decided what role or spec you want to play, obtain at least a 225 legendary (Usually less than 5k gold) or if you farmed renown through Torghast purchase a 262 legandary in a NON-TIER slot.
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At this point your gearing slows down a bit more gradual. Focus on improving Mythic+ Score to increase the chance of getting into groups and for the ability to upgrade items with Valor. If you have a group of friends willing to help gear or gearing alts at similar times, try organise amour stacked runs in raid or Mythic + to allow for efficient trading.