Thanks for the comments guys. I rent out 3 bedrooms which allows me to save the $700 min each week plus pay my mortgage repayments of $680. However, as my broker has informed me, the banks do not take this rental income into account as it is not declared.
As my broker stated in an email...
Hi All,
Just wanting some advise. I am 26 and have a PPOR in Brisbane and a new IP in Toowoomba which is neutrally geared. Based on bank valuations and market values if I sold my PPOR in Brisbane I could potentially walk away with $200k after paying out my mortgage.
It is getting...