Hi
Ive been a long time reader of this forum and now require advice regarding obtaining a 2nd IP.
My brother and I purchased our 1st IP together in Nov 2012 in Bexley North. There are two properties on the land providing a net income of approx 40K. In the last 15 months the value of the property has increased approx 100K based on comparable sales in the area.
We would like to develop the land (1000sqm) at some stage but wondering if our money would be better spent of a buying more IPs (using equity obtained) or saving to one day develop. Our combined income is approx 170K and we currently live at home (mid 20s)
Any advice would be much appreciated
Ive been a long time reader of this forum and now require advice regarding obtaining a 2nd IP.
My brother and I purchased our 1st IP together in Nov 2012 in Bexley North. There are two properties on the land providing a net income of approx 40K. In the last 15 months the value of the property has increased approx 100K based on comparable sales in the area.
We would like to develop the land (1000sqm) at some stage but wondering if our money would be better spent of a buying more IPs (using equity obtained) or saving to one day develop. Our combined income is approx 170K and we currently live at home (mid 20s)
Any advice would be much appreciated
