Hi all,
We are fairly new at property investing and would like some advice on how to move forward.
We currently have 3 investment properties in Melbourne, and would like to buy another, however we are nearing the end of our borrowing capacity.
Our properties are listed below:
As we want to buy another property, we have been discussing our options.
We have thought of the following:
1) Sell all properties, buy a house which we can renovate and add value, with the idea to eventually have that as our PPR.
2) Keep all properties, move to property 3 and renovate. When the market picks up, sell no. 3 and use the funds to purchase a house to use as our PPR.
Your thoughts and advice would be greatly appreciated.
Thanks,
TSO
We are fairly new at property investing and would like some advice on how to move forward.
We currently have 3 investment properties in Melbourne, and would like to buy another, however we are nearing the end of our borrowing capacity.
Our properties are listed below:
Rental 400/week.
Rental 320/week.
now worth ?380k. Rental 330/weekAs we want to buy another property, we have been discussing our options.
We have thought of the following:
1) Sell all properties, buy a house which we can renovate and add value, with the idea to eventually have that as our PPR.
2) Keep all properties, move to property 3 and renovate. When the market picks up, sell no. 3 and use the funds to purchase a house to use as our PPR.
Your thoughts and advice would be greatly appreciated.
Thanks,
TSO