How much debt do you have?

This much

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sooo close.
 
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+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! :eek:
 
$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! :eek:

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
 
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

Cheers Joey,

Property has always been my passion, hoping to one day move into small scale developments and keep expanding my portfolio.. Although it is tough with occasional pressure from numerous (overly conservative) family telling me I'm crazy with large debt..
 
$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! :eek:

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

I want to retire from my job before I am 35 so I have about 8 years to do it. Starting investing in when I was 19 bought first IP.

Probably not the best performing house or suburb but I bought the house as a ppor at the time. And had it tenanted for 5 years. Have done a renovation on it and moving in soon.

It save a lot my wage and payed down a lot of the loan so have a decent amount of equity.

My plan was to just buy and hold. But have realised this startegy will take to long for my goals
 
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

I'm with you Redom! Good to hear your taking the steps towards financial freedom.

I'm content with my 02' Mazda SP20 even though I often joke that its my 'girlfriends car' haha..

Its a little daunting seeing large numbers owed but I sleep fine at night so obviously not too concerned :D

Sounds like you have a busy 8 years ahead Joey! All the best with your plans! Why cant I find like-minded people my age over here to befriend..
 
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.
 
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!)
 
Ace in the Hole;1247487]Nice 6 mil of equity there.
The low LVR should provide a good bit of cashflow.

Yes cashflow is very good. It has taken me 12 years to get to this point as I came from a low, single income base. I have been through a couple of investment cycles which increases the equity dramatically. Now retired.
 
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!)

None of my friends are really into it. I think it's because living in melbourne where property is so expensive everyone just focuses on getting a ppor. Lumping myself with close to a mill in non deductible debt with no holding income doesn't sound like fun to me

"But what about the first home owners grant"
 
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