Hi,
I just signed up to this forum and find it very useful. I am hoping someone with more knowledge can help me.
I have been on a salary of 100k since I was 18. I bought my PPOR in 2006 for $299k in the suburb of Wandal in Rockhampton. One year later I bought a high rise building unit on Queen street Brisbane city for $430k. I recently bought my last IP in Wandal, Rockhampton for $248k.
2006 - PPOR $299k (now worth $350k)
2007 - Brisbane unit IP $430k (now worth $470k) rents for $2400 net a month. Body corp approx. $6k.
2014 - Rockhampton IP $248k (worth $248) rents for $1000 net month.
My loan is set up with three loans with offset accounts.
$260k owing on PPOR - P and I
$360k owing on Brisbane unit - Interest only
$200k owing on Rockhampton IP - Interest only
4.8% interest variable.
$30k in offset account.
Salary now is $160k
I am very disappointed with the small amount of capital growth in my first two IP's. However as I was so young with a large income I rushed in and bought them thinking I was doing the right thing. I would like to know thoughts and what I should do next as I feel as though I am going nowhere.
Any help would be greatly appreciated!
I just signed up to this forum and find it very useful. I am hoping someone with more knowledge can help me.
I have been on a salary of 100k since I was 18. I bought my PPOR in 2006 for $299k in the suburb of Wandal in Rockhampton. One year later I bought a high rise building unit on Queen street Brisbane city for $430k. I recently bought my last IP in Wandal, Rockhampton for $248k.
2006 - PPOR $299k (now worth $350k)
2007 - Brisbane unit IP $430k (now worth $470k) rents for $2400 net a month. Body corp approx. $6k.
2014 - Rockhampton IP $248k (worth $248) rents for $1000 net month.
My loan is set up with three loans with offset accounts.
$260k owing on PPOR - P and I
$360k owing on Brisbane unit - Interest only
$200k owing on Rockhampton IP - Interest only
4.8% interest variable.
$30k in offset account.
Salary now is $160k
I am very disappointed with the small amount of capital growth in my first two IP's. However as I was so young with a large income I rushed in and bought them thinking I was doing the right thing. I would like to know thoughts and what I should do next as I feel as though I am going nowhere.
Any help would be greatly appreciated!
Last edited: