Hi Everyone,
Thanks for providing a great forum, definitely a wealth of knowledge! Thought I might try and tap into it.
Right now I feel I am at an investing crossroad (I am 32) and the next step I take will be important (which may explain my current paralysis), my wife and I are both working and on decent salaries, however she may stop working soon if things go according to plan (babies!!). So I want to make the most of our current position. Been to the bank and can purchase something to the value of $520k, however my wife is worried about servicing etc. if she stops working for a year or so...
We recently sold a flat that cost $120k, for $175k. Was in a big group (80), high strata fees and furnished so was more of a headache and my intention (sold in April 09) was to upgrade to another IP that would be a better investment.
Our current holdings:
IP1 - Value $380k, loan $190k
IP2 - Value $475k, loan $350k
PPOR - Value $420k, loan $175k
LOC - $80k (for deposit on IP2), 20k available.
So in summary, position is Real Estate - $1.275m, Cash - $70k, Loans ($785k) - Net Equity of $560k
Also intention of IP2 is to eventually build PPOR (5-7 years) as current PPOR is a townhouse.
Questions going through my head:
What is my next move?
Is it a lot harder to service loans etc. once kids come along?
Other people's experiences with one year loss of salary and the effect on their investment plans?
Should I stop procrastinating and just keep going!!
Thanks
OG
Thanks for providing a great forum, definitely a wealth of knowledge! Thought I might try and tap into it.
Right now I feel I am at an investing crossroad (I am 32) and the next step I take will be important (which may explain my current paralysis), my wife and I are both working and on decent salaries, however she may stop working soon if things go according to plan (babies!!). So I want to make the most of our current position. Been to the bank and can purchase something to the value of $520k, however my wife is worried about servicing etc. if she stops working for a year or so...
We recently sold a flat that cost $120k, for $175k. Was in a big group (80), high strata fees and furnished so was more of a headache and my intention (sold in April 09) was to upgrade to another IP that would be a better investment.
Our current holdings:
IP1 - Value $380k, loan $190k
IP2 - Value $475k, loan $350k
PPOR - Value $420k, loan $175k
LOC - $80k (for deposit on IP2), 20k available.
So in summary, position is Real Estate - $1.275m, Cash - $70k, Loans ($785k) - Net Equity of $560k
Also intention of IP2 is to eventually build PPOR (5-7 years) as current PPOR is a townhouse.
Questions going through my head:
What is my next move?
Is it a lot harder to service loans etc. once kids come along?
Other people's experiences with one year loss of salary and the effect on their investment plans?
Should I stop procrastinating and just keep going!!
Thanks
OG