Not really. Everyone has to have some equity.
You only need enough to buy the first one. If you are buying under market or an do a reno and revalue then you use that to buy the next one. No magic!
The problem is you are assuming they are throwing away $10K each time they buy. Everyone...
Haha!!! And the winning comments are:-
I have a friend who only buys outright IP?s when he can pay cash. 0 LVR. He wants the rental income and does not care if there is a 60% drop in values. I call that risk free.
20 plus properties?There needs to be some tax changes to modify this sort of...
