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From: Sheryl Young
Hey all,
Been watching your forum for a while and see it a very good place start out in this Investment Property experience...
I am currently living and paying off a property in a brand new suburb of NW Melbourne. I have approx $75,000 equity in the home.
Am going to move in with partner and rent in an inner suburb to accommodate both of our teenage offsprings (school, friends, etc).
We had contemplated buying there but prices are too high (dont want to get in the mortgage rut...watching the laundry dryer go round on Friday nights etc.)So renting means we get to live in something decent as we only wish to stay in Melb for next 7-8 years.
We will be moving to the beach/bush or NSW coast where we'll settle for good...
Anyway my dilemma or should I say my "new and exciting venture"..is whether to purchase an IP or IP's after doing the homework etc. or can I turn this current home into an IP if I can get good rent and long term occupancy? We could then maybe purchase a second IP and have our money working for us while we rent where we really want to be for now!
If I do this what are the tips I need to know...
Appreciate any comments,
ta Sheryl Y
Hey all,
Been watching your forum for a while and see it a very good place start out in this Investment Property experience...
I am currently living and paying off a property in a brand new suburb of NW Melbourne. I have approx $75,000 equity in the home.
Am going to move in with partner and rent in an inner suburb to accommodate both of our teenage offsprings (school, friends, etc).
We had contemplated buying there but prices are too high (dont want to get in the mortgage rut...watching the laundry dryer go round on Friday nights etc.)So renting means we get to live in something decent as we only wish to stay in Melb for next 7-8 years.
We will be moving to the beach/bush or NSW coast where we'll settle for good...
Anyway my dilemma or should I say my "new and exciting venture"..is whether to purchase an IP or IP's after doing the homework etc. or can I turn this current home into an IP if I can get good rent and long term occupancy? We could then maybe purchase a second IP and have our money working for us while we rent where we really want to be for now!
If I do this what are the tips I need to know...
Appreciate any comments,
ta Sheryl Y
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