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Why not???
This much
sooo close.
And then?
+1 for spreadsheets!
Ive started my IP journey a few months ago finally and at the beginning it did bother me a bit.
Offer on 3# IP has been accepted a few weeks ago and if I include that. I'll be sitting just a tad under 1m. LVR 50%. At the moment I will be paying around $50pw to hold all three places once settled and assuming no major repair works.
Nice work. I've got $900k or so of assets with about $430k of mortgage, but I've been at it for 7 years nominally. I buy PPORs I like, then when I move for work rent them out. Never a fast-acting strategy, but I'm happy
$705k total debts
$970k total assets (approx. - based on previous valuations & comparables)
That is spread across 2 x investment properties. 1 of which will become my PPOR in Feb next year. Out into the real world! Currently 25 years old & still living at home.
PPOR has a debt of $405k and my other investment debt is at $300k. Rent is currently at $1495pcm so sitting around neutrally geared..
Sometimes that debt level stresses me a little but hopefully in the long run it'll pay off! Majority of my mates prefer building up their debt by buying cars etc and think I'm the crazy one!
1.5 mill debt. 20% loan to value across 9 properties. The latest under renovation.
Building up debt on cars, holidays, credit cards you cant afford is the worst debt and is what most people mid 20's do.
Good to see there is someone my age with their head screwed on
$705k total debts
$970k total assets (approx. - based on previous valuations & comparables)
That is spread across 2 x investment properties. 1 of which will become my PPOR in Feb next year. Out into the real world! Currently 25 years old & still living at home.
PPOR has a debt of $405k and my other investment debt is at $300k. Rent is currently at $1495pcm so sitting around neutrally geared..
Sometimes that debt level stresses me a little but hopefully in the long run it'll pay off! Majority of my mates prefer building up their debt by buying cars etc and think I'm the crazy one!
Well played dan_89 (and Joeyv). Great start.
I'm just about the same age - most of my mates are banking up debt on cars etc. Its just a reinforcing cycle, newer car every few years, etc. In my network, I think its common for people to 'accept' that a 9-6 job for the next 45 years that they don't actually like all that much is what they deserve.
IMO, the thought of doing that with my life is frightening. Hope it keeps going well for you.
Cheers,
Redom
Well played dan_89 (and Joeyv). Great start.
I'm just about the same age - most of my mates are banking up debt on cars etc. Its just a reinforcing cycle, newer car every few years, etc. In my network, I think its common for people to 'accept' that a 9-6 job for the next 45 years that they don't actually like all that much is what they deserve.
IMO, the thought of doing that with my life is frightening. Hope it keeps going well for you.
Cheers,
Redom
My plan was to just buy and hold. But have realised this startegy will take to long for my goals
Good to see the young blokes having a go, well actually I'm not much older at 30yo. I can't find any like minded friends like me either.
At the moment I only have my ppor but hopefully will be able to buy something in the new year.
I'm in the same boat as you mate, I am 26 though. Only 1 of my mates is into property investing so it's good to see a few other young blokes on here.
Currently reno-ing PPOR and buying IP next year (positive thinking!)
slow and steady wins the race !