Im 35yo Male, no IPs, bought my first house at about 28yo, sold it, bought another one at 32yo..sold it,,bought land last year ..sold it.. so im left with no assets but a good starting point.
its good to see that people are actually doing well with IPs. I am looking forward to telling the boss im retiring.. its a reaccurring dream I have .. [][]
aaron yeah, all things are good.
We are still hounding our ex agent for $24K (deposit) they didnt pay us when our auction/sale was terminated by the buyer.
But apart from that we are preparing to search and buy a PPOR and at least 1 IP to get started.
There has been a few on Today Tonight lately… The guy with the IP, that the foundation was built on a tip and all the floor was pulled up… and the one where a Pool was built over two seperate blocks of land owned by different people…
Richmond, a good wage is one that you dont need to work for !! [] …sorry
I was on 80K as a IT team leader, I opted to move jobs and jump down 1 notch about 2 years ago, back to a Analyst/Programmer on 60K, a bit less stress and more family time.
Morning.. I just got back to the forum and the topic is still going. []
Many Thanks to all that replied!. I now information to go on with.
I also read the propertyinvesting newsletter last night about fixed and variable interest rates, that was a shock. I didnt realise if you took a fixed interest rate loan (which at the moment would seem to be better..) and you paid it out early, they calculate the penalty based on the current interest rate and the rate you fixed your loan at. But if you took out a variable interest loan, if the interest rate jumps up, you could be paying more for the loan repayments than what the tenant is paying in rent (ie. negative gearing.)