Hi All,
I am about to start investing in property (should make first IP purchase in next couple of months). I have read a few books and the last 4 months of API magazine. I will be following the stratergy of using equity in PPOR as 20% deposit for IP and fund rest with interest only mortgage. Wait till the equity builds up in PPOR and IP1 and do it again in another couple of years or earlier.
My question is that you could do this to the day you retire and be assett rich not cash rich. As you cant take the money to the grave what is the best way to release the money for enjoyment near or after retirement.
EG
Sell one property every couple of years to live a decent lifestyle before retirement
Live off the rental income as they become cash positive and leave in the will for kids
Just keep building equity and funding more IP's
For the record I would rather retire early using the money in my IP's or use IP's to live a decent lifestyle before retirement (holidays, new 4wd etc)
Thanks
Ian
I am about to start investing in property (should make first IP purchase in next couple of months). I have read a few books and the last 4 months of API magazine. I will be following the stratergy of using equity in PPOR as 20% deposit for IP and fund rest with interest only mortgage. Wait till the equity builds up in PPOR and IP1 and do it again in another couple of years or earlier.
My question is that you could do this to the day you retire and be assett rich not cash rich. As you cant take the money to the grave what is the best way to release the money for enjoyment near or after retirement.
EG
Sell one property every couple of years to live a decent lifestyle before retirement
Live off the rental income as they become cash positive and leave in the will for kids
Just keep building equity and funding more IP's
For the record I would rather retire early using the money in my IP's or use IP's to live a decent lifestyle before retirement (holidays, new 4wd etc)
Thanks
Ian