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From: Kevin Fielding
Hi all,
Some advice please if you can.
I am just learning about investing in residential property and was wondering if I can do it.
My gross income is approx $45,000 per annum.
My wife earns about $6,000 part time.
I have a mortgage of $40,000.
I have $70,000 saved in the bank which I would like to use for an extension to my house which is valued at approx $350,000.
We have two children 14 and 12 who as we all know eat constantly.
What would be my options for investing in residential property as we still need to live and put the kids through school etc etc.
I am not sure if I should pay out my mortgage and borrow for my extension as well as for an IP or not.
Any help would be very much appreciated.
Regards
Hi all,
Some advice please if you can.
I am just learning about investing in residential property and was wondering if I can do it.
My gross income is approx $45,000 per annum.
My wife earns about $6,000 part time.
I have a mortgage of $40,000.
I have $70,000 saved in the bank which I would like to use for an extension to my house which is valued at approx $350,000.
We have two children 14 and 12 who as we all know eat constantly.
What would be my options for investing in residential property as we still need to live and put the kids through school etc etc.
I am not sure if I should pay out my mortgage and borrow for my extension as well as for an IP or not.
Any help would be very much appreciated.
Regards
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