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From: Annisia Rendalls
I am looking for as many options as I can
at the moment on my current financial /
property situation...any advice would save
some sleepless nights!!
Situation: I have a property (first home) in
Brisbane which I have lived in for 2 years.
I have recently had it valued for $300,000
plus. (lucky for me!) My partner has a
HECS, Austudy & Mastercard debt which
has made a substantial impact on our
ability to make more headway on the loan
(we are both working). I have a line of
credit with citibank & was considering
extending this loan to get rid of the
mastercard debt....however, I would have
gained well over $100,000 in profit if I
sold the house. Thus giving me a much
lower borrowing amount for another
property & the ability to pay the
outstanding debt... and also a great start
to an investment portfolio. I am trying to
educate myself about property investment
but haven't got too far as yet & I feel I need
to make a decision in the very near future
as the mastercard is making life bloody
uncomfortable! I love my home & have
always thought it would be a fantastic
investment property to hang on to when
we are ready to move on.....
Maybe the time to move on has come
sooner than I thought??
HELP!! Any thought or suggestions?
Annisia
I am looking for as many options as I can
at the moment on my current financial /
property situation...any advice would save
some sleepless nights!!
Situation: I have a property (first home) in
Brisbane which I have lived in for 2 years.
I have recently had it valued for $300,000
plus. (lucky for me!) My partner has a
HECS, Austudy & Mastercard debt which
has made a substantial impact on our
ability to make more headway on the loan
(we are both working). I have a line of
credit with citibank & was considering
extending this loan to get rid of the
mastercard debt....however, I would have
gained well over $100,000 in profit if I
sold the house. Thus giving me a much
lower borrowing amount for another
property & the ability to pay the
outstanding debt... and also a great start
to an investment portfolio. I am trying to
educate myself about property investment
but haven't got too far as yet & I feel I need
to make a decision in the very near future
as the mastercard is making life bloody
uncomfortable! I love my home & have
always thought it would be a fantastic
investment property to hang on to when
we are ready to move on.....
Maybe the time to move on has come
sooner than I thought??
HELP!! Any thought or suggestions?
Annisia
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