Hi, this isnt my first post, but have just changed my name to ask a question and just keep some anominity...and no its not a trick or broker or agent or spam etc...
Ive got a problem in regards to property Investment, so ill try to keep this brief...but just looking at options to think about, as have had good advice but is different from different people.
We have a premises which we have had for 8 years. its now recently been put in as an investment property and currently have tenants who pay on time etc..
Have about 160k equity, which usuable is about 50K. IP value $560K owe $400K. We did this to rent closer to a school the kids have been in and this year were doing yr 12 and the mrs work was 1.5 hrs away, and we pay $500 per week rent.Now kids have left school Mrs got a new job closer few months ago which was unexpected, better pay than what she had, which wasnt due to her looking..poached is the word..lease exp in 3 months and we will move, but to ??
we thought we would continue to rent as it will be now cheaper as dont need the big house , and then look at buying another investment property. Reading and gaining more information, it may be better to buy another place and use it for PPOR, but that wld involve a large deposit , house wld be around 500K.
So we have had mixed messages on best thing to do...
1. sell investment property, pay out loan, buy new place with added equity and to start again.
2. keep investment prop, buy another one, and keep renting,
3.just keep throwing money into investment home to raise a better deposit.
if we want to buy another property now , either way , its coming up with a 10-20% deposit. It can be done, but the difference is an investment wont need as much as a deposit , compared to a deposit for a PPOR.
So im just trying to think whats the best way now so as it is better in the long run... and it may cause a delay in achieving what we want to do..or something that might be outside of square, so just looking for different thoughts, and with that..try to make the best decison and stick with it.
Ultimately, we want to buy 1 inv prop each year and set up to achieve this next 10 years.
Any thoughts?
Ive got a problem in regards to property Investment, so ill try to keep this brief...but just looking at options to think about, as have had good advice but is different from different people.
We have a premises which we have had for 8 years. its now recently been put in as an investment property and currently have tenants who pay on time etc..
Have about 160k equity, which usuable is about 50K. IP value $560K owe $400K. We did this to rent closer to a school the kids have been in and this year were doing yr 12 and the mrs work was 1.5 hrs away, and we pay $500 per week rent.Now kids have left school Mrs got a new job closer few months ago which was unexpected, better pay than what she had, which wasnt due to her looking..poached is the word..lease exp in 3 months and we will move, but to ??
we thought we would continue to rent as it will be now cheaper as dont need the big house , and then look at buying another investment property. Reading and gaining more information, it may be better to buy another place and use it for PPOR, but that wld involve a large deposit , house wld be around 500K.
So we have had mixed messages on best thing to do...
1. sell investment property, pay out loan, buy new place with added equity and to start again.
2. keep investment prop, buy another one, and keep renting,
3.just keep throwing money into investment home to raise a better deposit.
if we want to buy another property now , either way , its coming up with a 10-20% deposit. It can be done, but the difference is an investment wont need as much as a deposit , compared to a deposit for a PPOR.
So im just trying to think whats the best way now so as it is better in the long run... and it may cause a delay in achieving what we want to do..or something that might be outside of square, so just looking for different thoughts, and with that..try to make the best decison and stick with it.
Ultimately, we want to buy 1 inv prop each year and set up to achieve this next 10 years.
Any thoughts?