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Ended up with 4 IP's by 2004, with 7 tenants, Serviceability was killing us (rent roughly = interest, but couldn't borrow more) so went looking for riskier higher yeilding deals (trying to get more cashflow). Should have just taken 3 months off work and sat back and thought things through...

now: in the sh!. but slowly extracting our selves from the mess we created. 5 years ago: 2003 - 2 IP's - buying 3rd IP 10 years ago: 1998 - selling 1st PPOR $85k and buying 750m2 block on esplanade 15 years ago: 1993 - buying 1st PPOR $80k getting out of renting $120wk for $60k house 20 years...