Need some ideas what would you do with this?

[maloo]

I have been busy reading your forum for the last couple of weeks a big thanks to everyone thats posts and maintains this informative site.

I need you........To give me some ideas on what to do with my current situation.

I am not against selling things.......but never have.

Im 29 and the bride is a little older we have two children 1 yr and 2.5 yr old. We move around a lot with her work. The bits n pieces that we have bought were never bought from an ivestment point of view. Anything we bought was to live in with the exception of one ( carparking space).

So I guess im going to spill my/our situation and let you guys go wild and give me your ideas/advice . I will probably confuse you with my ramblings but I just want to make sure you are armed with the right information.

Property #1
Clifton HIll Vic free standing 2 bed+bunglow, 100+ yrs old
owe 380k- 65k offset
val 600k
inc 420p/w
50/50 split 190k fixed 3yrs I/O @ 4.99 190k I/O 5.21 with 65k in offset

Property #2
Roxburgh Park Vic Town house 3 bed, 9 yrs old
owe 192k
val 270k
inc 255p/w
fixed 3yrs @4.99 I/O

Property #3
Manuka ACT Unit 1 bed, Furnished, 10 years old
owe 208k
val 360k
inc 395p/w
P/I 5.21%

Property #4
Melbourne Vic Carparking space
owe nill
val 60k
inc 110p/w

Property #5
Abbotsford Vic free standing 2 bed
owe 200k
val 600k
inc 450p/w
P/I 5.21%

NOTE:
Property #3 has high body corp 3.5k yr


Personal Income
Me self employed bricklayer 45k should be more but im casual
Bride IT 180k

I know we should be doing more but im just not sure what. So go ahead and give it to me .


Thanks in advance.
s

 

[want2bewealthy]

Ha, if you ask me you should be doing less and investing more
You've done well, congratulations, FWIW Id be 'retiring' if it were me but I'm not so carry on

 

[Rolf Latham]

Terrific equity position to be in there.

Which of you owns which of the assets please ?

ta
rolf

 

[maloo]

Terrific equity position to be in there.

Which of you owns which of the assets please ?

ta
rolf

#1- J&S
#2- S... maybe changing this soon to J&S
#3- J
#4- J ...I guess its classed as a piece of commercial RE
#5- J

I know what you mean with the equity but I have trouble getting my head around raping properties. I guess what I am trying to say is I like a bit of savings to buy things . I like to see myself as a 20% sort of man.

 

[Rolf Latham]

Understand the 20 % deposit need.

One challenge with that fetish is that to make another purchase you will have to sell something, AND pay selling costs and CGT at whateever level.

I suppose your core question is which property shall you turn over ?

Might be a good time to see a savvy accountant and subseqeuntly a mortgage broker.



ta
rolf