Hi,
I am eagerly trying to get into the property market (I live in Sydney, but see canberra as my other option due to my family being down there) but I am seeing fear hold me back.
The post that had everyone list there lifestyle and Investment situation was very inspiring, especially seeing so many people around my age involved (25). One question that I wanted to ask people with multiple IP's (especially those that purchased multiple times with in a 1-3 year period) is how secure are you? I mean having 11 IP's sounds fantastic, but are you really knee deep in debt? what happens to you if the interest rates rise by 1%?
My current dream is to stop full time work and work 3 days a week, buy an IP or PPOR (I don't own a PPOR) and go overseas for a 6 month stint - all in the next year and a half. I earn $65000 and have $32000 saved up.... do you think I am crazy?
JMC
I am eagerly trying to get into the property market (I live in Sydney, but see canberra as my other option due to my family being down there) but I am seeing fear hold me back.
The post that had everyone list there lifestyle and Investment situation was very inspiring, especially seeing so many people around my age involved (25). One question that I wanted to ask people with multiple IP's (especially those that purchased multiple times with in a 1-3 year period) is how secure are you? I mean having 11 IP's sounds fantastic, but are you really knee deep in debt? what happens to you if the interest rates rise by 1%?
My current dream is to stop full time work and work 3 days a week, buy an IP or PPOR (I don't own a PPOR) and go overseas for a 6 month stint - all in the next year and a half. I earn $65000 and have $32000 saved up.... do you think I am crazy?
JMC