Hi All
I'm a little confused right now!
My goal through investing, is to not have to work for someone else, and be able to work when i want - if at all. (after i have got to the stage of being bored with golf everyday )
Apart from that, i'm not sure! I need some clarification as to what is possible/not possible.
My current aim is to buy heaps of resi property, artificially add equity (small renos), then use that equity to finance the next place.
I realise that at some point servicability will become an issue, and i think i've solved that problem which is to use cashbonds.
I would like to get to the point where i'm living off equity, but hopefully less equity than i make each year, to pay down loans slowly - eventually reaching a point where i'm living on rent.
The main problem i have not been able to solve, is that when i am at a point where i am making enough equity to quit my job, how do i get a loan to access that equity?
I don't want to have to go and get a job for 6 months every time i want to access equity!
Feel free to add quicker/better ideas, to reach retirement!
Look forward to your responses!
I'm a little confused right now!
My goal through investing, is to not have to work for someone else, and be able to work when i want - if at all. (after i have got to the stage of being bored with golf everyday )
Apart from that, i'm not sure! I need some clarification as to what is possible/not possible.
My current aim is to buy heaps of resi property, artificially add equity (small renos), then use that equity to finance the next place.
I realise that at some point servicability will become an issue, and i think i've solved that problem which is to use cashbonds.
I would like to get to the point where i'm living off equity, but hopefully less equity than i make each year, to pay down loans slowly - eventually reaching a point where i'm living on rent.
The main problem i have not been able to solve, is that when i am at a point where i am making enough equity to quit my job, how do i get a loan to access that equity?
I don't want to have to go and get a job for 6 months every time i want to access equity!
Feel free to add quicker/better ideas, to reach retirement!
Look forward to your responses!