Thanks for your insight Michael. Will look at moving back in with the folks temporarily and look at renting to achieve a better cashflow.
You are definitely right about eating out everyday and then some more on luxury items/bills taking a massive hit to my savings!
Renting seems like the...
Great story Michael! Congrats on your success!
I'm actually curious about your serviceability - I've only acquired 2 properties however live in one as a PPOR for the past 3 years. This has restricted my cashflow heavily... and I am considering moving back home with my parents (still fairly...
Agreed, I think serviceability is the biggest factor when it comes to when to stop purchasing more property.
NRAS sounds very good for lowering your income however there is also a great risk of what happens when you lose your job? You will need a decent sized capital to maintain the massive...
S3 is definitely a good phone however wouldn't say it was great.
I found that it had battery life issues and was quite unstable at times i.e. crashing whilst on a phone call etc
Also, my screen got smashed and it cost me $300 to repair! :(
Very much worth taking a look into.
I have a 1960s apartment and it still managed an extra $1300 for my tax return which I wouldn't have gotten otherwise at a cost of half for the depreciation report.
Maybe look at upping your budget a little more to around the 500k mark...
I would say an extra 80k will open options around 7km from the city and arguably a potential for greater capital gain.
Furthermore, look at 1980s apartment if you are looking a larger kitchens and space (70-90+sqm...
heh this thread is all too familiar with my parents sentiments when i first took out a gaurantor loan with Homeside.
In the end as per standard homeside procedures + alot of negotiating with the parents (thanks Aaron for coming out and having a chat with them) it was all agreed and the title...
I can vouch for Armadale having lived there for a little over a year now.
The most noteable factor of this suburb is the abundance of amenities/essential facilities that are within 5-10mins walking distance i.e.
Public transport (trams/Armadale station),
Grocery/Shops (Malvern central...
As others have stated - a combination of equity + savings is required to continue purchasing up.
Also helps if you don't end up moving into one of your IP's to enjoy the lifestyle..... :P
In my opinion, the market in the vicinity of Armadale/Prahran/Toorak has picked up significantly as I've rarely seen a passed in status in my weekly scouring of the sold data.