Secured Debt at young age!

[Hados]

My wife and I are in the same age category as you mentioned. I'm on an 'ok' wage and she's well below what you'd call average. Looking to purchase our 6th property soon- we weren't planning on doing anything for a while as our debt levels are getting a bit uncomfortable for the wife but this one sort of fell into my lap.
I'm of the opinion 'go hard early' as others have said. Time is on my side

 

[mflying]

Hados,

I think you are doing well.

can you share some more info?? i am sure lot of other new investors would be happy to learn thing or two.

 

[TurkieSub]

I'm 25 , I borrowed a lot less than my yearly annual income. Went in at 80% LVR, Renovated and refinanced at 90% LVR for American Endeavours.

Would I borrow my maximum capacity? Unlikely, unless I was developing, and knew I could make the numbers work.

Time and time again I have seen close friends of similar age, and borrow up to the nose to live in a nice place. But at the end of the day its their choice.

(EDIT Just on frugality, I may of well overcooked it.... I am technically homeless (I do live on a FIFO mining camp 3 weeks of the month) and live out of a bag at peoples houses/backpackers when not at work... No car, no material possessions...

Regards,

niko