Hi,
Need some opionons, advise etc....
We live in a house with market value approx $650. We have a mortgage of $260.
Equity is approx. $390.
we want to invest in a number of properties but seem to be hitting brick walls in securing loans.
Question: Would we be better off selling this property and buy something worth $390 and have no or little mortgage thus enabling us to secure a larger loan for investments?
or
Continue statying in the current home with the $260 debt and settle for ony 1 investment property?
Am I making sense ?
Cheers.
Need some opionons, advise etc....
We live in a house with market value approx $650. We have a mortgage of $260.
Equity is approx. $390.
we want to invest in a number of properties but seem to be hitting brick walls in securing loans.
Question: Would we be better off selling this property and buy something worth $390 and have no or little mortgage thus enabling us to secure a larger loan for investments?
or
Continue statying in the current home with the $260 debt and settle for ony 1 investment property?
Am I making sense ?
Cheers.