37 - fully offset my apartment, now what?

[paulden]

@loo Sell it, move to cairns and buy a house and an apartment with that amount.

 

[loo]

@paulden But that means I’d need to live in cairns…

 

[paulden]

@loo You would struggle with the improvement in your quality of life for a while. But eventually you would get used to the benefits.

But generalising on that idea, there are a number of regional centre’s where you could get more bang for your buck for you PPOR. Many places also have a bit of a rental crisis so you can get high returns and you would be helping people find a home.

 

[scw43]

@loo I'm pleased for you. I'm sure you worked hard to pay off your place by 37 and my next comment isn't directed at you. I take my hat off to you for getting it done, but seriously, this subreddit really needs to change its name. If I read one more post about how someone has paid off their home by 30 and earns shitloads of money and omg what am I going to do now...I'm going to punch myself in the face.

 

[loo]

@scw43 Become a teacher. Stable work and relatively good pay. If that fails you can punch yourself.

 

[bert54]

@loo I’m going to hate saying this but invest in Perth soon, keep an eye on the market

 

[loo]

@bert54 Why Perth and why now?

 

[bert54]

@loo Read up on market trends here

 

[cybersaint]

@bert54 The worst city in the country to be effected by climate change? Buying into a raging bull market where people are already paying overs? And they don't live within cooee to inspect the shit builds and aspestos weatherboards?

 

[amarie07]

@loo Look up debt recycling

 

[joeguitar]

@loo Investing in property will give you increased leverage, but may cause more stress than stocks/ETFs.

 

[stormsailor]

@loo I would settle the PPOR debt, borrow against the PPOR and invest in another property instead. That would make your interest deductible and use the leverage to grow your wealth. That’s how you invest in property if it fits your risk profile and investment approach.

 

[loo]

@stormsailor How is this any different from just taking money out of the offset to buy another property?

 

[stormsailor]

@loo You original loan is against your PPOR so the interest will not be tax deductible. You need a clear demarcation between the money you borrow against your PPOR vs the money you borrow for investment.

 

[brokenangel1991]

@loo Max out leverage always and lower taxable income on IP

 

[yyzead]

@loo A - work on building a significant passive income, that way you are in a position to retire whenever you like, cut down on work, etc.

 

[resjudicata]

@loo Property is about on par with investing. The benefit behind it is leverage, but also increased risk.

It really depends on your risk appetite.

I’d probably pump super for a few years with secondary goal of ETF.

 

[parade_de_satie]

@loo Do you really want to live in a house as a single person though? Deal with all the maintenance or have to pay someone to do it? Are you intending to settle down and start a family?

Money isn't everything, you don't need to be climbing the property ladder just for the sake of it, you can invest instead (whether in housing or other investments, doesn't really matter)

 

[loo]

@parade_de_satie Money isn’t everything, but a person would rather have as much money as they can rather than less than that assuming it doesn’t severely compromise their lives.

 

[parade_de_satie]

@loo sure, but you're literally talking here about potentially making a compromise in your life just to make more money. I mean do what you want, but life is for living.