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  1. #41
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    We're just about to settle on our 4th investment property which will put us over the million dollar mark (and plan to buy more). Doesn't worry us because they are all neutral or positively geared so don't cost us anything and if we had to sell they would pay off what we owe. Won't be debt free for a while until the equity is eventually enough that if we sell a couple we can pay off the rest and get the income outright.

    We don't go into debt for cars and have no CC. If we did I think I'd be a bit more worried and want it paid off as quick as possible.

    As pp has said, there's a difference between "good" debt and "bad" debt and any bad debt we try to avoid or get rid of ASAP!

  2. #42
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    SuperGranny is offline Worlds best grandma! Winner 2012 - Most Helpful Member
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    hi nat, I haven't read any of the other replies, but please don't do what we have done. We had a very good first mortgage on our first home, and secure Govt jobs, so we stretched ourselves and bought investment properties. That part was very good. We had some hic-ups over the years but ended up ahead and we were able to buy a business, which has been very good for us for the last 25 years. That was the good part. Now, in the last 10 years we have bought a bunch of properties, which have almost all lost value thanks to the GFC. We are nearing retirement age, with a mountain of debt, and we have no choice but to keep working. If you are going to plan ahead, do invest in property, for the long haul, or put extra into your super. Get some professional advice and do what you feel comfortable with. Marie.

  3. #43
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    I think that advice does not apply to everyone. You need to know all this risks and have a contingency plan before you start investing.

    Sent from my GT-I9210T using The Bub Hub mobile app

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    We have a few debts. Mortgage ($160k), car (unsure it is in DH's name and I have no clue how much it is!) And credit card (always kept under $1k mainly used for food shops etc and usually paid off chunks every week).

    I hope that we will be debt free in 12 years, if not earlier, but there are a few things I want to do to the house etc (new kitchen, new windows, new doors etc) we aim to stay in this house for the next 20 years then move to an average. So we hope to get a good 8 years of savings behind us!

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  5. #45
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    I have a car loan which has about $8-9k, DP has a mortgage & business loan. He bought his property just before the GFC & so now if he sells, he'll only break even. He always intended it to be an investment however so will hold on to it - its currently rented out long term. He also bought his Dad out of their business, so all of the income goes to paying the loan off - it is all passive income so a very wise investment. All in all, we intend on renting to keep our cash flow high & invest it in passive businesses such as the one we have.

    All in all total debt would be around $400k between us

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  6. #46
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    Out of interest, those with investment properties saying they were hit by the GFC, where did you buy? Were they outer suburban/rural areas?

    Not meaning to be offensive by asking, so please don't take it that way.

    Genuinely interested, as my/our properties have only risen in the last decade plus.


    Me = 34, DH = 34
    TTC #1 for 2 years. OI: Sept '13: BFP (chem), Oct '13: BFN, Dec '13: BFN

  7. #47
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    GFC didnt have much impact on us, except maybe a slower increase in value (we certainly didn't lose money or have any serious issues). Lower interest rates have been a bonus!

    We don't buy in well-established/gentrified areas though. We buy at the cheap end so we can get more land for our money.

  8. The Following User Says Thank You to Cue For This Useful Post:

    Shrillian  (10-03-2014)

  9. #48
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    Quote Originally Posted by Cue View Post
    GFC didnt have much impact on us, except maybe a slower increase in value (we certainly didn't lose money or have any serious issues). Lower interest rates have been a bonus!

    We don't buy in well-established/gentrified areas though. We buy at the cheap end so we can get more land for our money.
    Smart going!

    Our investment properties are within the "Sydney suburbs", so have provided us a good return.

    But then again, that's why I chose them! I intentionally tracked suburbs that would yield a high growth in a small amount of years.

    That's why I was interested about those mentioning GFC as a reason as to why they haven't gotten a reasonable return.


    Me = 34, DH = 34
    TTC #1 for 2 years. OI: Sept '13: BFP (chem), Oct '13: BFN, Dec '13: BFN

  10. #49
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    Quote Originally Posted by Shrillian View Post
    Smart going!

    Our investment properties are within the "Sydney suburbs", so have provided us a good return.

    But then again, that's why I chose them! I intentionally tracked suburbs that would yield a high growth in a small amount of years.

    That's why I was interested about those mentioning GFC as a reason as to why they haven't gotten a reasonable return.


    Me = 34, DH = 34
    TTC #1 for 2 years. OI: Sept '13: BFP (chem), Oct '13: BFN, Dec '13: BFN
    We bought an investment property in 2009 in a good suburb. Recently had it valued and it's worth EXACTLY the same.

    So zero equity.



    wifey of hubby who is always away. mother of two girls who are always amusing.

  11. #50
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    We bought some investment properties in mining towns so they achieved substantial capital growth despite the GFC.

    We also bought some apartments in capital cities which have achieved slow but steady growth. We are planning to keep them for the long term so hopefully they will continue to rise in value and we can keep raising the rent higher.


 

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