Buying again...

[Ryan80]

I have 2 IP's. Total value $1,180,000
Loans $780,000.

My 1st IP is positive by about $70 a week and the second is costing about $30 a week.

My job is pretty secure and at the moment I'm renting. Total income $120k and living expenses around $20k.

If you were in my shoes would you buy now? I'm pretty aggressive and feel confident I can cover any shortfall although hoping to purchase a cashflow+ house/townhouse.

I'm thinking of buying in Sydney but will probably use a BA as I don't know the area at all.

 

[Pablo]

Hell yeah!!

 

[craigb]

If i were you i would be buying "two"

 

[HandyAndy888]

Or three....

 

[Rolf Latham]

Subject to many things it looks like it may be possible if you manage the upcoming rate risks and other associated risks.

Sydney appears to be at a different part of the cycle to Perth so would provide some diversification


For a great Sydney Based BA I can highly recommend Jacque Parker. We have shared many a common client.


http://www.housesearchaustralia.com.au/

ta
rolf

 

[Jas]

What's the plan? I think this is the first q to be addressed. If you don't know where you are going or what you are doing, figuring out whether you want to buy (let alone what you want to buy) is going to be hard.

I'm guessing you want to buy and hold single residental properties. Are you planning on selling for the captail growth? Eat the growth? keep working until you are 65? What's your thinking?