Scenario: Single 29yrs old with $70K income
- I own my own home in which i loaned $100,000 and have sinced repayed $95,000 of the loan amount.
- Im looking to purchase a unit for $160,000 which will return me $190 a week rental
##Is the idea that i repay the unit loan amount off as quickly as possible by the means of pumping as much as possible on top of the rental return , Or taking the loan over the maximum term and repaying minimum amounts and negative gearing ?
- I own my own home in which i loaned $100,000 and have sinced repayed $95,000 of the loan amount.
- Im looking to purchase a unit for $160,000 which will return me $190 a week rental
##Is the idea that i repay the unit loan amount off as quickly as possible by the means of pumping as much as possible on top of the rental return , Or taking the loan over the maximum term and repaying minimum amounts and negative gearing ?