Hello,
At a friends place and they were discussing IPs which my wife and I had not really considered before. So doing some basic research to see if it is currently feasible.
Investing goals would be to hold long term with the view to eventually build a cashflow +ve portfolio. ie) not very interested in the negative gearing aspect.
Financial background:
We both earn between 60-70k (2 of us) so total income would be $125k / annum
Bought PPOR in May 2012 for 500k
We currently owe 135k on this PPOR money is sitting in offset account for this loan
currently 80% of my salary goes into the home loan but we don't think this is sustainable for the long term. Although we are not high income earners, I think we are paying off our PPOR reasonably well due to the fact that we live a pretty simple lifestyle.
My first question - is the money better utilised by continuing to pay off our PPOR to $0, or are there more benefits in purchasing an IP - would be looking at something in VIC, as close to cashflow neutral as possible (not sure if this is feasible)
Hope that makes sense.
At a friends place and they were discussing IPs which my wife and I had not really considered before. So doing some basic research to see if it is currently feasible.
Investing goals would be to hold long term with the view to eventually build a cashflow +ve portfolio. ie) not very interested in the negative gearing aspect.
Financial background:
We both earn between 60-70k (2 of us) so total income would be $125k / annum
Bought PPOR in May 2012 for 500k
We currently owe 135k on this PPOR money is sitting in offset account for this loan
currently 80% of my salary goes into the home loan but we don't think this is sustainable for the long term. Although we are not high income earners, I think we are paying off our PPOR reasonably well due to the fact that we live a pretty simple lifestyle.
My first question - is the money better utilised by continuing to pay off our PPOR to $0, or are there more benefits in purchasing an IP - would be looking at something in VIC, as close to cashflow neutral as possible (not sure if this is feasible)
Hope that makes sense.