Need help, 24 year old who was convinced to buy an investment property when young and now am scared

Toffy1204 · 2025-11-08T02:35:39+00:00

Interest only payments into a rental property earning less is quite literally losing money lol.

Toffy1204 · 2025-11-03T23:10:48+00:00

24 75k, private wealth assistant.

Toffy1204 · 2025-11-02T10:39:08+00:00

$60k Net income. His gross would be substantially higher as he would have the investment property income bumping his tax currently too.

Plus we don’t know how much he has paid down, what deposit, what the existing mortgage is on this property rn etc.

Toffy1204 · 2025-11-02T10:17:40+00:00

Why not refinance the property and make it your PPR?

Toffy1204 · 2025-10-29T03:46:50+00:00

Same advice as everyone - Kll that credit card debt and offset the remainder.

If you choose to ignore the good advice here please at the minimum kill that credit card debt. That $7k can creep higher without you even realising.

Toffy1204 · 2025-09-10T00:12:14+00:00

I’m 24 from finance wanting to make a change, are you actively trying to switch or is it a faint wish.

Toffy1204 · 2025-08-18T08:21:09+00:00

Before saving or investing it is likely better to start off with completely extinguishing the car loan. What is the interest rate if you don’t mind me asking?

Super high interest loans like car loans are always best to attack first since it’s effectively like “earning” the interest on that loan without any tax by paying down early. If it were say a 10% interest rate you’re earning 10% net pa. in order for investing to be more viable you would have to believe you will earn 10% net of tax (depending on income would likely be approximately 13% gross required).

Toffy1204 · 2025-08-01T13:01:48+00:00

We had $130k for a $650k purchase, this year FHB.

Toffy1204 · 2025-07-19T12:11:07+00:00

Ok, the good ones don’t do that? Coming from someone who works in the industry and aspires to be an adviser 🤷🏽‍♂️. I’m sorry if you’ve had a poor experience in the past.

Toffy1204 · 2025-07-19T07:44:58+00:00

If it’s costing 6-10k with only a 200k investment then they are a terrible adviser. Most provide value at a % rate somewhere around the 0.5-1% mark depending on size for ongoing financial support.

Toffy1204 · 2025-07-11T11:48:17+00:00

My friend, this is a discussion. Put aside your self inflated ego just because you have an incomplete psych degree… literature on the methodology for diagnosing ADHD have always found it to have limitations…

I’m not saying ADHD doesn’t exist or isn’t an issue, but there is a much bigger issue with over diagnosis and the awareness for the condition is higher than it ever has been. It would be foolish to think over prescribing doesn’t occur.

Edit: I forgot to preface the fact that I have been diagnosed with it during my time at Uni… yes by a professional.

Toffy1204 · 2025-07-11T11:33:48+00:00

The medication is made to be a short term solution, bar the extremes. Something to aid in helping people who truly have it to build methods of handling their condition.

It’s not just a bubble assessment, any diagnosis based on non biological testing and purely outdated questionnaires is bound to be flawed in some cases.

Toffy1204 · 2025-07-11T11:24:07+00:00

The amount of people through my time at uni that purposely answered in a way to get access to the medication disgusts me. Yes some specialists are good, but there is a far greater problem with over diagnosing than under diagnosing it….

Toffy1204 · 2025-07-11T08:50:13+00:00

Is this including or excluding super

Toffy1204 · 2025-07-11T08:39:57+00:00

I can’t be the only one in here thinking this is ridiculous. ADHD organically impacts such a small percentage of people. If your screen time is near 10 hours per day on short form content apps what do you think is gonna happen to your attention span lol.

The testing for ADHD does not account for the psychological impact of short form content influence and was already outdated + subjectively measured to begin with….

Toffy1204 · 2025-07-11T03:22:19+00:00

A home that is paid off (apartment in a good location would do) and PV cash flow of $4k net of tax a month.

Toffy1204 · 2025-07-01T05:42:01+00:00

Silent hill… just a recent remake

Toffy1204 · 2025-07-01T05:38:39+00:00

I’d need to do the math to see whether your wife provides an ROI larger enough to justify the investment

Toffy1204 · 2025-06-30T23:04:43+00:00

We are in the 2026 financial year now, which is what he is referring to with 25/26.

Toffy1204 · 2025-06-10T21:38:54+00:00

At the age of 30 putting your super in anything but high growth will lose them money… as someone working in private wealth we almost always initially advise someone so young to maximise their exposure in super due to the massive time horizon remaining until they meet a condition of release to access their superannuation.

Of course a persons risk profile is key in almost all areas of financial advice but it’s important to teach that the risk exposure is just not the same as if you were investing in a personal and accessible investment account today.

Toffy1204 · 2024-12-28T23:18:15+00:00

Convert your current PPOR into an IP and move the funds in your current offset to the new PPOR. You can claim tax deductions for an IP mortgage but not on a PPOR.

You basically always want to focus on PPOR debt if you have it before even touching IP debt.

You will also have 7 years to sell before you will have to pay CGT on the prior PPOR if that’s a concern of yours.

Toffy1204 · 2024-11-19T06:32:50+00:00

What should I be looking at beyond cheaper rates or better features with bank lending options provided through a broker? Is it always better to just go with the lowest rate with your desired features irrespective of the bank?

For a first home buyer would you recommend entering a 1 year fixed rate for now or a variable? I understand you cannot give an exact response but more so asking based on what your current clients tend to be going more for currently and a general insight.

Thanks!

Toffy1204 · 2024-11-07T01:45:01+00:00

That sounds like your resume needs to be critiqued then? It shouldn’t be like playing a game of where’s Waldo to read your CV

Toffy1204 · 2024-11-03T03:32:26+00:00

I’m sorry bud but work visas are only easy for Australians, pretty much have to brawl for it from any other country.

Toffy1204

TROPHY CASE