My house is fully paid, as are two to three other properties, rest with cut even figures and money in the bank like you. Does that make me right? I respect your right to have an opinion but me thinks you protest too much. Top class - was that 5 years ago or are you out of it now? If you aren't you will miss the boat next time guaranteed. I have a tenant in Perth who got out of his real estate 8 years back. He had a mortgage of $40,000 then . When I sold the house 400% more than I built it for he had to buy again to avoid repeating history. His mortgage is now $400,000 and he bought before the market tailed. Had to use the remainder of his remaining proceeds to re-enter. He has equity & can manage comfortably and is hell bend on getting rid of his mortgage .His reason for selling was the type of bull you are dispensing.That type of talk was the order of the day. A supposedly well informed journo at the time said that the days of realestate going up by more than 1% pa are gone. Hope that wasn't you .Your strategy is wealth diminishing / ours is wealth building. That does not mean you buy at random but you do your research, tailor a strategy to suit you and wait patiently for the safest leveraged strategy to beautifully unfold.
Also you will pay $900 pw rent one day and your landlord will have no debt on the unit. Also don't forget the equity he has and the capacity to leverage that. Or the unit will sell to a highly leveraged purchaser who will nail you . You really have control don't you. And blow your yield curves and nonsense. You work your yield on your equity investment to be more accurate than on the value of the house blah blah.
