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Correct to both of the above.

1. I understand what LVR is and how to use equity. 2. I undertstand tax including CGT. 3. The strategy im adopting im more then happy with and will continue with it. 4. I don't want to use my equity to purchase so many more x amount of properties (Yes i could go out 2mwz and buy 5 + IPs...

once again Michael, verry well said. Couldn't agree more.

Thanks Michael, That was very well said. Could not have put it any better myself. Absolutely agree :D

I disagree, It will continue to work for me. As i have previously mentioned if i was to move out tomorrow and buy a PP0R, my rental return from IP number one would cover the fortnightly repayments on my PP0R. I too am also "living life" Im 23. I have a nice car, went overseas the...

battler, Like i have previously said my first IP is just about paid off. With every purchase i make/have made i will make sure i have more then half the purchase price in cash. Won't take long to repay the banks for each IP this way.

oracle, Paying tax does not bother me one single bit whatsoever! Put it this way just as an example lets just say that on each one of my 5 properties i am getting 25k rent p/a. 25k x 5 IPs = $125k. So lets just say half of that $125k has gone "wasted" on tax. Who cares, in the end i will...

Could not have put it better myself. Plus keeping in mind i save up a massive deposit with each IP purchase. More then half the purchase price at the least. My first IP will be paid off within the next 3 years. Earlier if i want too, however im choosing to use what i have saved up at the moment...

Southbrisbane, It can be done. My first home was purchased at x amount (three bedroom house in sydney). I had more then half of the purchase price in cash, Very little loan from the bank and has a good rental yeild. It was positive geard from day one hence the large deposit. My next IP...

Yea it does. Thanks. Im a bit delayed tonight, haven't slept since sunday night.

Thanks and will do. My next IP will be with the same strategy but this time round im looking at buying a property that's run down. I wan't to renovate, add CG, rent and hold. Been looking for a while now. Missed a few opportunities late last year but oh well. Im sure something will pop up.

No, what i was trying to say is eventually earing $1200.00 p/w by positive gearing is by doing nothing. Tenant's pay for your lifestyle. Sure i would have to put in all the hard work to have them all paid off but once they are ill have that benefit. Hope that makes sense.

Piston broke that is true in relation to tax, however $1200 after tax per week for doing nothing still sounds pretty damm good to me.

Thanks kissfan :D Correct, each to their own i say. I will keep at it that is for sure. I have no plans whatsoever on stopping any time soon with it all.

Thanks rugrat, totally agree in terms of low risk etc..

You are correct i have had people tell me, what on earth am i doing, why am i paying P&I on it and not just I, why didn't i spread the money over a few IPs, stop making bulk mortgage repyaments on it and the list goes on. I have thought long and hard about all of this and yes i could go out and...

Yea i am being bombarded, Such a shock. He He. Well sceptics or not the way i see it is at the end of the day im not here to prove myself to anyone. Thanks for your kind comments Y33 and that goes for everyone else too! :D

Yes i do still live at home, however in saying that if i was to purchase a PPOR and move out tomorrow my rental return from my IP would cover the mortgage repayments on my PPOR in it's entirety.

No i don't run any kind of business, im on an average wage - He He. I pretty much saved evey single cent possible from an young age and put the money into an savings account which i was earing a few k intrest on per year, to me EVERY cent counts! I purchased my IP (house) just over 1.5 years ago...

Hey, Nah i didn't buy in an mining town, I brought in sydney. Yes the equity is good, although i don't think ill being using it to make my next IP purchase as i have another large deposit ready to go. Might use it on IP number three or four. Will see what happens i can't make up my mind atm.