Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Sell this it is too expensive for a PPOR.PPOR - Worth $450,000 No Mortgage
Sell this too. Its yield is pathetic and its too expensive for an IP. (Assuming no CGT to pay). This gives $450K (from PPOR) + $500K (from IP) = approx $1M cash. (not allowing for selling costs)Ist IP
Worth $800,000
Rental income $32,000
Loan $300,000 @ 5.04%
LVR 37.5%
Any suggestion who would be the best people to see. Broker or FP?
Your saying sell my PPOR. Rent then?
Either rent (it is cheap) or buy a lower cost PPOR if the repayments = much the same as rent.
One of the keys to building wealth is to live as cheaply as possible yourself while pumping up the investing side. Then live as lavishly as you want when the investments pay off down the track 10 years from now.
Structure your loan by a line of credit on your own PPOR which you could then split into a series of sub loans for each of the 20% deposits and acqusition costs. Split just makes the identification of each loan easier to work out the interest.
Then take out standalone 80% loans on each new IP.
Not sure i would fix quiet yet and if you do i would stagger the terms so they dont all expire at once.
If you decide to retain the existing IP make sure you have a 100% offset account linked to this.
With the right property and structure all should be sweet.
c'on guys remeber to live in the present. You can plam for the future but enjoy the moment. What happens if you die tomorrow? Remember long time dead