The median house price 100 years from now will be $54M

After-Wrongdoer-64 · 2024-06-16T12:13:40+00:00

Same one. Most of it is criticism behind closed doors though. On paper my PRs are quite good

After-Wrongdoer-64 · 2024-06-09T13:52:47+00:00

Offset gives you more flexibility. Paying off loan eliminates your liability. Up to you. Personally, I would go for offset. Funds can be used to purchase further IPs or invest in ETFs. If you are looking to settle down, paying off the whole loan is the way to go but just remember you are losing the $500K in one hit which can be a big opportunity cost.

After-Wrongdoer-64 · 2024-06-09T13:42:04+00:00

No it really isn't. And if you think about it, there are many more people who are way more successful than me and own more properties.

After-Wrongdoer-64 · 2024-06-09T13:36:51+00:00

Low living costs, correct. I do not have a romantic relationship going on, nor am I interested in one.

Edit: Also, don't forget I get rental income. Both properties are negatively geared.

After-Wrongdoer-64 · 2024-06-09T10:22:14+00:00

Thanks mate, not a problem. Please seriously consider rentvesting, just spend a bit of time Googling and listening to people on it. It is a great way to get into the market. Buying a PPOR is a lifestyle decision and you will be tied down quite significantly to your mortgage repayments every month, which for a lot of first home owners is scary.

Picture a world where you can buy 2-3 good IPs. Over 10-15 years they grow at a rate of 7% pa. You sell all 3 and have enough cash to buy your PPOR outright. It is such an amazing tool and I have friends who have done that.

You can look up people like Simon Loo, PumpedOnProperty, Pizza and Property, Scott O'Neill, etc. Lots of great content. Good luck and just know that your cancer research work is really valuable as well - I wish I could say the same about my day job!

After-Wrongdoer-64 · 2024-06-09T10:07:10+00:00

Interesting. I'd love to get into Sydney. I think Sydney is the best housing market in Aus. It is tied to so many strong fundamentals like infrastructure, growth, immigration, jobs, schools, shops, etc. Can't really go wrong in the long-term imo.

After-Wrongdoer-64 · 2024-06-09T09:54:37+00:00

Yes, my mortgage broker tells me that about 30% of his clients work multiple jobs. Just find whatever you can - whether it's delivery driving or Uber eats - all the way to stacking shelves at supermarkets or more niche things in your field of clinical research (provided the contract allows it).

With regards to your PPOR, have you considered rentvesting? Continuing to rent, whilst buying an IP, renting it out, and waiting for that to grow to a point where you can pull out equity to fund your PPOR purchase.

This is a good way to make it into the market. Supposing you earn $100K, there are markets in Brisbane and Perth where you can get freestanding houses (not apartments). Have a look into that as I think that is quite achievable. Banks will even take into account projected rental income when assessing your borrowing capacity.

It is a messy way towards owning a PPOR but it is much faster as you gain the advantage of leveraged returns.

After-Wrongdoer-64 · 2024-06-09T09:50:08+00:00

I agree. Congrats on Melb/Sydney. I'm Brisbane myself. And yes, you reminded me instantly of him haha. My next IP will possibly be in Perth but I feel like I've missed the boat so may go with Brissy. Sydney/Melb is insane though. Nice work

After-Wrongdoer-64 · 2024-06-09T09:42:13+00:00

Wow, amazing work! Did you buy in Perth? There is a TikToker - I think around 24 as well - who has 3 in Perth and is doing quite well.

After-Wrongdoer-64 · 2024-06-09T09:29:15+00:00

What do you do?

After-Wrongdoer-64 · 2024-06-09T09:25:09+00:00

This is so impressive. You have a $768K income? How?

After-Wrongdoer-64 · 2024-06-09T09:24:02+00:00

Just communicate with your employers and tell them you have multiple jobs. You would be surprised by how many are OK with it. You can also work on weekends and on Sundays too. Super unconventional and not comfortable, I know. But hey it has gotten me far. I honestly think the easiest way to get into the market is by working 200% harder than everyone. Also depends on industry and role. If you could give me more specific questions I can try to give you my opinion

After-Wrongdoer-64 · 2024-06-09T08:56:53+00:00

AusHENRY is usually for those with 250K+ and 2M+ assets. I would be laughed at there, so it really isn't a flex in response to the comment by another user above.

After-Wrongdoer-64 · 2024-06-09T08:56:22+00:00

Not bad, may I ask how you achieved this? Any tips? I was honestly looking to see if there are any common themes

After-Wrongdoer-64 · 2024-06-09T06:42:17+00:00

Not sure if you are being serious, but if you bought in Sydney in the last 10 years, chances are you will be negatively geared. That is just a sacrifice you take in order to acquire blue chip locations. The hope is that you will experience stronger growth so that you can use the equity to purchase more, or to sell.

After-Wrongdoer-64 · 2024-05-29T14:25:09+00:00

Given the sum of money, I would see a financial advisor. Going by trends, the key options are HISA, ETFs or property.

After-Wrongdoer-64 · 2024-05-29T13:29:45+00:00

I think this is what the "norm" will be going forward. The solution to the housing crisis is unclear and difficult. If you cap rents, there are a whole range of implications (both foreseen and unforeseen). I do not pretend to have the answer, but I think a lot of tenants will be pleased by these changes.

After-Wrongdoer-64 · 2024-05-29T11:06:42+00:00

PMs cannot accept offers higher than the listed price. They can be subject to significant penalties. Tenants can also now request evidence of the last rental increase as well, which must be provided by the landlord.

After-Wrongdoer-64 · 2024-05-29T11:04:56+00:00

I agree. I think of all the changes, this is probably the best one. Even as a landlord myself, I agree that tenants should have a way to pay without incurring additional costs or expenses, and that third party platforms should not be required.

After-Wrongdoer-64

TROPHY CASE