We are thinking of buying a 2nd IP with the remaining equity in our PPOR, and the purchase price limit will be $350,000.
I realise that this will be the last property we can buy for awhile (no equity left) so I really want to make it count and be worthwhile.
PPOR is in Hills area Sydney, IP1 in Nth Brisbane area. I am thinking perhaps a house in Christies Beach area in SA for the 2nd one. But I am concerned about the CG there. But the yield is decent so wont be too expensive to hold.
Do you think I am better off waiting till I can afford to buy something worth more, or is better to buy what you can afford at the time?
Am I right in thinking that this property should have good yield, or should I wear the holding costs and buy in a more CG area?
I know its all personal preference, but not sure what to do to best keep the momentum going.
I realise that this will be the last property we can buy for awhile (no equity left) so I really want to make it count and be worthwhile.
PPOR is in Hills area Sydney, IP1 in Nth Brisbane area. I am thinking perhaps a house in Christies Beach area in SA for the 2nd one. But I am concerned about the CG there. But the yield is decent so wont be too expensive to hold.
Do you think I am better off waiting till I can afford to buy something worth more, or is better to buy what you can afford at the time?
Am I right in thinking that this property should have good yield, or should I wear the holding costs and buy in a more CG area?
I know its all personal preference, but not sure what to do to best keep the momentum going.