Hi all, been lurking for a few days, reading and learning. I am really looking for some advise please. I have equity of $200k in my PPOR and am a 40 something single parent, on a decent enough wage in a secure job. My question is, do I pay all I can into my PPOR, or borrow to invest? I currently have the opportunity to purchase an immaculate 3 bed 1 bath property in Bundaberg for $225K. Rental return is $270 per week. I would borrow 100%, and pay interest only. I will be out of pocket $30per week, at the most. Being a single parent, I obviously need to invest carefully and with calculated risk.
My strategy is buy and hold for ten years, hopefully accumulating a couple of other properties along the way. I will sell one in ten years, to help the kids with uni etc, and keep the other/s as income.
I have had a rental property in the past, with my ex, and made great returns as we bought pre boom and sold post. I am a little more cautious now, with the little people to think of, but know that I need a wealth creation strategy for my and their future.
Any advice would be greatly appreciated, thanks in advance.
My strategy is buy and hold for ten years, hopefully accumulating a couple of other properties along the way. I will sell one in ten years, to help the kids with uni etc, and keep the other/s as income.
I have had a rental property in the past, with my ex, and made great returns as we bought pre boom and sold post. I am a little more cautious now, with the little people to think of, but know that I need a wealth creation strategy for my and their future.
Any advice would be greatly appreciated, thanks in advance.
