Maximise borrowing - asset rich but income poor.
Because of personal+ health issues I have decided to not work full time for the foreseeable future. My income is via a permanent role and is 90 K. I don't see income becoming more than 110 K per year for the next 10 years. I am in my early 40s. Should be able to work for at least next 20 years. No kids or partner. living a frugal simple life.
Current ppor is worth 700 K and fully paid . Have a IP which is rented for $600/ week. It is worth 800k and owing to bank 250k. I have cash of 300 K which can go towards initial deposit.
I would like to buy bigger ppor but that would be in the range of 1.5 million.
Obviously I can't afford it as ppor, if I buy it as a ip and rent for the first 5 years, what's the maximum borrowing I can get ? Provided it will be rented for $900 a week. Eventually I will sell current ppor and IP. What can I do to maximise borrowing and also try and hold on to current properties as long as I can