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From: Mike .
Article 276
From: Eunice
Date: 1/6/00
Time: 5:45:21 PM
My husband and I are thinking of investing in property to create wealth, albeit very late in our lives. We would appreciate any help from the forum. Please consider the following info.
1. Our ages are 50 and 48 resp. 2. We live in our home valued at $290,000.00 with a balance owing of $70,000.00. 3. My husband is salaried and earns $55K and a car allowance of $9K and I earn approx. $22,000.00( self employed in my case). 4. We would like to continue working for another 12 years. 5. We are considering buying a unit, which was converted from a warehouse, in the Camperdown area, near the University and RPA hospital. The unit has two bedrooms and lounge/dining and undercover secure parking. 6. The cost of the unit is $275,000.00 and the property is presently rented for $295.00
Given the above info. do you think we could create wealth in that time span(12 years) and how should we go about this- buy in both our names or just my husband's. We have no children living with us.
Any help and direction would be highly appreciated.
Thanx in advance. Eunice in Sydney
Article 276
From: Eunice
Date: 1/6/00
Time: 5:45:21 PM
My husband and I are thinking of investing in property to create wealth, albeit very late in our lives. We would appreciate any help from the forum. Please consider the following info.
1. Our ages are 50 and 48 resp. 2. We live in our home valued at $290,000.00 with a balance owing of $70,000.00. 3. My husband is salaried and earns $55K and a car allowance of $9K and I earn approx. $22,000.00( self employed in my case). 4. We would like to continue working for another 12 years. 5. We are considering buying a unit, which was converted from a warehouse, in the Camperdown area, near the University and RPA hospital. The unit has two bedrooms and lounge/dining and undercover secure parking. 6. The cost of the unit is $275,000.00 and the property is presently rented for $295.00
Given the above info. do you think we could create wealth in that time span(12 years) and how should we go about this- buy in both our names or just my husband's. We have no children living with us.
Any help and direction would be highly appreciated.
Thanx in advance. Eunice in Sydney
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