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I agree you can buy 6 houses @ 300k with 2mi maybe stamps would catch you though I don't dispute your savings from salary. I think you are forgetting that your not buying 6 houses at once @ 300k inflation happens as you know. And as for your "another million and a bit" I'm not sure where...

At year 10 5IPs and PPOR?maybe if you were buying them in one horse towns.

Can someone put this theory in a spreadsheet?

Can't say I agree with this strategy. Its a bit like a cup catching the rain rather than a bucket. When it rains CG I like to make sure Im catching plenty. By buying paying off and repeat x5 means I will miss a lot of growth.