W
WebBoard
Guest
From: Peter Davidson
Thanks to all on this site for their invaluable advice, for I have purchased my first IP. Price 337K, corner block, 3 bedrooms, period features, currently leased at $250 per week, Melbourne.
I have a deposit of 65K which I will be putting towards the property.
I'm on 75K and my wife on 50K. What is the best way or options of financing this property. Currently, I am living in a property at the moment which has been in the family and not paying rent.
Do I make minimum repayments and save up for another IP or pump money into the loan, left, right and centre. Do I lock interest away for 5 years or get basic variable. Personally, I can't see rates jumping 1 or 2 % over the next 2-3 years.
Just so I can sleep at night, I want to pay principal and interest on the loan to get it down a bit.
I want to maximise my tax benefits too, so any advice would be appreciated as it has been in the past.
My wife plans to work for another 3 years before we have kids.
Thank you. It's great to be now part of the "club"!!!
Thanks to all on this site for their invaluable advice, for I have purchased my first IP. Price 337K, corner block, 3 bedrooms, period features, currently leased at $250 per week, Melbourne.
I have a deposit of 65K which I will be putting towards the property.
I'm on 75K and my wife on 50K. What is the best way or options of financing this property. Currently, I am living in a property at the moment which has been in the family and not paying rent.
Do I make minimum repayments and save up for another IP or pump money into the loan, left, right and centre. Do I lock interest away for 5 years or get basic variable. Personally, I can't see rates jumping 1 or 2 % over the next 2-3 years.
Just so I can sleep at night, I want to pay principal and interest on the loan to get it down a bit.
I want to maximise my tax benefits too, so any advice would be appreciated as it has been in the past.
My wife plans to work for another 3 years before we have kids.
Thank you. It's great to be now part of the "club"!!!
Last edited by a moderator: