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From: Jim Kouta
Hi there,
Just bought my first IP over the weekend for $241,000. I'm soo excited. I live at home and don't own much else. I have about $70k in the bank but getting married and going overseas next year(35k). How should I finance my loan? -ve or +ve gear? Should I borrow all the money(if I can). I'm on a high salary and pay maximum tax. Is it worth paying mortgage insurance for the sake of -ve gearing? Please advise. Property needs another 10k work and will get me about $270 p/w after that. I need a financial plan quick smart. Thanks.
Hi there,
Just bought my first IP over the weekend for $241,000. I'm soo excited. I live at home and don't own much else. I have about $70k in the bank but getting married and going overseas next year(35k). How should I finance my loan? -ve or +ve gear? Should I borrow all the money(if I can). I'm on a high salary and pay maximum tax. Is it worth paying mortgage insurance for the sake of -ve gearing? Please advise. Property needs another 10k work and will get me about $270 p/w after that. I need a financial plan quick smart. Thanks.
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