[Gilly61Member@gilly61Join Date: 2013Post Count: 8]

August 16, 2013 - 11:55 am

Thanks Jamie – that's great!

[Gilly61Member@gilly61Join Date: 2013Post Count: 8]

August 16, 2013 - 11:30 am

Hi Richard,

You said,….

"There is no easy answer to becoming financially free and it certainly won't happen over night.

Took me 10 years to build my portfolio and another 6 to have almost the entire investment debt repaid."

Would you be willing to share how you did this? So many strategies I see are – pay interest only and never sell. So debt is never repaid….which I dont feel entirely comfortable with. What did you do?

Cheers

Gill

[Gilly61Member@gilly61Join Date: 2013Post Count: 8]

August 16, 2013 - 11:04 am

Thankyou so much for your comments. The figures were really to try and gain an understanding of how it all works. Not my current situation. I now have a much better understanding so thankyou all for your comments. I will certainly get further advice from a variety of sources.

[Gilly61Member@gilly61Join Date: 2013Post Count: 8]

August 16, 2013 - 10:11 am

Oh Thankyou!!!

So still using the above scenario – I can borrow the $20,000 for the deposit, borrow $160,000 for the $200,000 property so still need a further $20,000 cash. Is that right?

[Gilly61Member@gilly61Join Date: 2013Post Count: 8]

August 9, 2013 - 10:31 am

Many thanks for your comments. I will seek further advice. Quick question though… Cant you use the equity in the two investment properties as a deposit for the third so you dont have to front up more cash for the deposit?

Thanks for your replies

Cheers

Gilly