No debt, no worries
Does not worry me in the slightest knowing assets exceed liabilities.
Everything is self managed so full control, no worries at all.
We sleep very well.
Like many are saying, it's mindset. Take the emotion out of it.
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No debt, no worries
I get that question alot from colleagues who know we invest "how do you sleep with all that debt?"
"OMG! If that was me, I'd still be waiting, I don't have access to that sort of cash".
This made me think of how easy it was to write a cheque. Sure I'd have liked to not have to pay for this, but the point is, that if he wanted that treatment, we had to pay for it, and it was as easy as buying the groceries.
This freedom to be able to do that has come from all the debt (good debt, mind you) on our portfolio. Debt that increases all the time (extra purchases) but the asset base is constantly growing, and spitting out some lovely CG as well as positive cashflow.
How much debt do I have? Not enough! Looking for more all the time.
To keep your mind off all the debt,buy something like this to amuse yourself....
And how do you not think about it all the time.
I currently have about 500k debt and 3 IPS
Want to invest more and have been told by bank I can borrow up to 300k more but am not sure if I want to get into that much debt.
Of course if you can service the debt it doesn't matter but not sure...
While I consider debt a risk, it can be mitigated. It is a greater risk to not have any.
Blacky
My middle name is dangerWhile I consider debt a risk, it can be mitigated. It is a greater risk to not have any.
$3.5M at 80% LVR
Very true Skater. Similar story, my fiancee has some very serious back problems as a result of a car accident a few years ago (she only discovered the problem recently) and while Australia has the technology to treat it (osteopathy), it's very new to this country and with the relative inexperience of doctors here would probably do her more damage than good. The only good places to treat it are Taiwan or America, and it requires 1-2 months (air fares, hotels, treatment cost etc).
I just gave her $40k to do this. I could've done this even if I never invested, or could've asked my parents or she could've asked her parents. But knowing that this is all funded by "spare money" from property cashflows just makes it that much easier.
้$560k debt @ 86% LVR
Looking to reduce debt and purchase next property with 20% deposit