Retirement 10 years away.
We want to fast track in that 10 years. (don't we all )
Ideas - Suggestions
We have PPOR value $520,000 Mortgage $157,000
Possible redevelopment site, 810 sq/m, would fit possible 4 x 3bed townhouses. Corner block, nice views, close to everything.
IP 1 Unit - 2 bed Value $290,000 owe $215,000 Rent $270 to relative, could get $350 but happy with arrangement for another year at least.
IP 2 House on 810sq/m rent $390 pw, looking to subdivide back half next year and build 3 bed 2 bath to either move into or rent $450pw. New build cost $250,000 / $300,000
Options
Could rent PPOR for $550pw and move into new build mentioned above
Stay where we are and rent new build.
Super $190,000
Income $150,000
What's the best plan of attack do you think?
We want to fast track in that 10 years. (don't we all )
Ideas - Suggestions
We have PPOR value $520,000 Mortgage $157,000
Possible redevelopment site, 810 sq/m, would fit possible 4 x 3bed townhouses. Corner block, nice views, close to everything.
IP 1 Unit - 2 bed Value $290,000 owe $215,000 Rent $270 to relative, could get $350 but happy with arrangement for another year at least.
IP 2 House on 810sq/m rent $390 pw, looking to subdivide back half next year and build 3 bed 2 bath to either move into or rent $450pw. New build cost $250,000 / $300,000
Options
Could rent PPOR for $550pw and move into new build mentioned above
Stay where we are and rent new build.
Super $190,000
Income $150,000
What's the best plan of attack do you think?