Hi there,
Some great stories!! I thought it an idea to add our situation as I know from having read stories over the years that these types of stories can be inspiration enough to admit to oneself that yeah, I can do this!!
Wife and I purchased then PPOR for $150k in 2002. Big money back then for a couple of 21 and 22 year olds!!
Lived there for almost 2 years and at this point my step father gave me Jan Somers' book to have a look at. The value of the place we were in had gone up so we started looking for something bigger with a view to renting out the one we were in. So found a lovely place, big house big yard but knew it would be out of our league!! Went to the auction with no intention to buy and it started REALLY low. So we bid and kept bidding and and when we picked it up for $40k less than what we thought it would go for, we had a new PPOR. Paid $291k in late 2003.
So I got the bug and went looking!! Managed to find a little GOLD mine at a Qld Uni town and purchased about 6 months later for $140k, acheiving $200 a week in rent.
So situation now is:
PPOR - Value: $380k, owing: $297k
IP 1 - Value: $305k, owing: $126k
IP 2 - Value: $160k, owing: $137k
Very keen to get the next but unfortunately work has been hectic and I really haven't had time to organise some things. Need to commit more time to this though as it is our future!! Missed a couple of opportunities so really need to get on top of things again!!
Dos.
Some great stories!! I thought it an idea to add our situation as I know from having read stories over the years that these types of stories can be inspiration enough to admit to oneself that yeah, I can do this!!
Wife and I purchased then PPOR for $150k in 2002. Big money back then for a couple of 21 and 22 year olds!!
Lived there for almost 2 years and at this point my step father gave me Jan Somers' book to have a look at. The value of the place we were in had gone up so we started looking for something bigger with a view to renting out the one we were in. So found a lovely place, big house big yard but knew it would be out of our league!! Went to the auction with no intention to buy and it started REALLY low. So we bid and kept bidding and and when we picked it up for $40k less than what we thought it would go for, we had a new PPOR. Paid $291k in late 2003.
So I got the bug and went looking!! Managed to find a little GOLD mine at a Qld Uni town and purchased about 6 months later for $140k, acheiving $200 a week in rent.
So situation now is:
PPOR - Value: $380k, owing: $297k
IP 1 - Value: $305k, owing: $126k
IP 2 - Value: $160k, owing: $137k
Very keen to get the next but unfortunately work has been hectic and I really haven't had time to organise some things. Need to commit more time to this though as it is our future!! Missed a couple of opportunities so really need to get on top of things again!!
Dos.