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No, I meant that as I wouldn't have a PAYG income. True, over time, the properties may become positive geared, or even cash flow positive. But, if you keep cashing in the equity to pay for living expenes, then you end up negative again with the increase in interest costs. Even if I pay tax on...

I like how you think. One thing I would suggest, though, is that the cashbond strategy isn't really to fund living expenses. It's more a way of creating an income stream out of equity. I'm already committed to a strategy similar to what you have proposed. If it doesn't work, the worse that can...