Hi All
This is my first post, so apologies in advance if I seem a little green! - I do not own any property at the moment but have a fairly good deposit. I would like to purchase a house in NZ around $600k (this will be rented out while I am living in Australia and be treated as an investment property - don't know when I will go back as I am a sole trader) I plan to put $300k down as a deposit, rental will be approx $500 p/w with additional cash here of around $200k.
I would like to to pay out this property asap as if it was PPOR (but keep it as an IP - purely a security for me) and then use the equity in that property to purchase another IP in NZ.
Would appreciate your thoughts on whether I am on the right track by planning to pay out asap - as you can tell I don't have any experience in this area other than reading books and forums - I am thinking of getting a PI loan- what other things should I be considering in structuring this?
Thanks
MM
This is my first post, so apologies in advance if I seem a little green! - I do not own any property at the moment but have a fairly good deposit. I would like to purchase a house in NZ around $600k (this will be rented out while I am living in Australia and be treated as an investment property - don't know when I will go back as I am a sole trader) I plan to put $300k down as a deposit, rental will be approx $500 p/w with additional cash here of around $200k.
I would like to to pay out this property asap as if it was PPOR (but keep it as an IP - purely a security for me) and then use the equity in that property to purchase another IP in NZ.
Would appreciate your thoughts on whether I am on the right track by planning to pay out asap - as you can tell I don't have any experience in this area other than reading books and forums - I am thinking of getting a PI loan- what other things should I be considering in structuring this?
Thanks
MM