My brother and I are investing partners and collectively we have 7 properties - one A grade, one apartment, and the rest are solid, quality houses. We've decided to go down the quality over quantity route, although quantity is a totally valid strategy which we've seen many times on this forum. We've maxed out our borrowing power but my by taxable income is due to increase by around 50k, which presumably gives us another 500-700k give or take?
My brother has no savings left, I have about $150k.
So I'm currently looking at two main options:
1) Buy one more property, almost certainly in Brisbane
2) Wait for our existing properties to collectively go up 500-700k, and top up our line of credit, effectively keeping our powder dry
What do you guys think? I would really appreciate your advice. I keep alternating between the two almost on a daily basis...it's essentially a bet on the market. Option 1 assumes things are going to get really good. Option 2 assumes things will get really good, then drop, so I can build up my LOC then take advantage of it when the time comes.
My goals - in 2-3 years I plan on taking a few years off and travelling. I figure this will cost me about 80k. At that point my ability to refinance will be gone, so Option 2 assumes the values go up relatively soon otherwise I won't have another opportunity to extract equity when I'm unemployed.
My brother has no savings left, I have about $150k.
So I'm currently looking at two main options:
1) Buy one more property, almost certainly in Brisbane
2) Wait for our existing properties to collectively go up 500-700k, and top up our line of credit, effectively keeping our powder dry
What do you guys think? I would really appreciate your advice. I keep alternating between the two almost on a daily basis...it's essentially a bet on the market. Option 1 assumes things are going to get really good. Option 2 assumes things will get really good, then drop, so I can build up my LOC then take advantage of it when the time comes.
My goals - in 2-3 years I plan on taking a few years off and travelling. I figure this will cost me about 80k. At that point my ability to refinance will be gone, so Option 2 assumes the values go up relatively soon otherwise I won't have another opportunity to extract equity when I'm unemployed.
