Hi MRO,
I can cover the $7Ok loss on Mackay. My thoughts are refinancing my PPOR and covering the loss this way, as both properties are with the same bank.
Is this a good strategy?
Hi JP Cashflow,
The property which is the highest risk carries the biggest loss which is Blackwater. I could lose $300 odd K if i do this.
Do you think an account can provide an answer to this situation?
Hi Pinkboy,
All the properties are in my name. The Mackay property is bleeding the worse because of all the fees you correctly point out. If I sell this property I will take a $70k loss. What do you suggest?
Do you have any news on when coal mining will come back a little?
If I were to...
Hi Perp,
yes that is the issue, with rents declining my fear is that once my loans come of Interest Only and if the rates climb then I am in a real bad situation.
Some help please...
A background, foolishly I bought in Blackwater and Mackay when rents were crazy and out look was bright. Now rents in Blackwater have gone from $950pw, purchase price $495k to now $350pw and an agent told me today if I sold now I would expect $200k as there is zero...