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From: James C
Hi all,
I really enjoy reading the posts on the forum and find them very useful, thank you.
My wife & I currently have 2 IP's in Sydney both apartments fetching just over 6% gross return and solid capital growth. We have paid off some of the principal of one of the IP's (contrary to most popular advice) and now have total euity of approx. $270K.
My question to the forum is what are your opinions on the fact that we currently do not own a home (we rent). I feel like I'm at the crossroads. Do I use our existing equity & income to service additional loans for another 1 or 2 investment properties OR purchase a property to live in? We have no problems in renting as we both work long hours & don't have time to spend maintaining gardens etc. So the context of my question is from a financial point of view as oppossed to an emoitional one. Thank you.
regards
James
Hi all,
I really enjoy reading the posts on the forum and find them very useful, thank you.
My wife & I currently have 2 IP's in Sydney both apartments fetching just over 6% gross return and solid capital growth. We have paid off some of the principal of one of the IP's (contrary to most popular advice) and now have total euity of approx. $270K.
My question to the forum is what are your opinions on the fact that we currently do not own a home (we rent). I feel like I'm at the crossroads. Do I use our existing equity & income to service additional loans for another 1 or 2 investment properties OR purchase a property to live in? We have no problems in renting as we both work long hours & don't have time to spend maintaining gardens etc. So the context of my question is from a financial point of view as oppossed to an emoitional one. Thank you.
regards
James
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