Hello Team! Quick background as to why I ended where I am now and where I wish to be. I am currently employed both full time and part time one job paying 120k p/a and the other 10k p/a. I have been in these 5 and 7 years. I am 26 years of age and currently own 2 investment properties which I built 18months ago. My current residence is owner occupied after renting it out for 4 years whilst living with my parents. I have always had a desire to invest to the point where I could step down my employment to part time in my main employment leaving me with a 70k p/a income plus the 10k p/a income from my other part time position leaving me with an income of 80k However I want to do this once my portfolio is at a stage which allows it to grow within itself via the use of equity. The use of equity is a new concept to me as all 3 of my previous investments were established via a deposit as saving has always been something I have been good at. My current Residence was valued 12 months ago at 380,000 with a loan of 320,000 with a seperate bank to my investments paying Princiiple and Interest. Investment 1 and Investment 2 were both valued at 420,000 12 months ago supported by loans of 370,000 set to Interest only Along with this I have savings of 50,000 and no other debts to speak of other then a leased car via my main employer which has 2.5 years left on the term. I'm seeking guidance as to how best to access this equity and how best to utilise my savings to ensure I can grow my portfolio and be in a position of reducing my work load to part time come the end of my lease period. As that to is roughly my planned "parenthood" stage in life and I want nothing more then to have quality of life to spend time with them as they grow up and take the stress off my future wife (also yet to find one of those but we can leave that there ) Thanks in advance guys and I really hope over time I can return the favour by spreading the knowledge which I gain from this forum to members like myself in the future!
Based on your figures your LVR is about 88% for both PPOR and IPs so no equity to be accessed yet. Are your savings in an offset account against the PPOR? If they're not, that's your first step. Your next is to read @Terry_w 's tips (do a search), and then talk to some of the mortgage broker's from PC to find someone that you want to work with. As for early semi/retirement.. 1) don't have kids 2a) don't get married or 2b) only marry someone in perfect health and has similar investment beliefs and saving habits as you.. Seriously though, it's impossible to plan a timeframe for kids/marriage so just keep charging on while your young and make sure you get good advice on protecting your assets (just in case). I'd also suggest reading the Peter Thornhill thread for some alternative investing ideas.. I wish I'd known about his strategy when I was 26.
