Hi all
Just wanted to throw a couple of tricky ones out there, im desperately needing some help/guidance from the more experienced ones.
Couple of quick facts:
I currently own 1 IP and it could probably do with a slight extension and a new kitchen. To be honest im not entirely sure how much id be up for such an extension however i envisage approximately $30k-$40k mark.
IP#1 cost $380k, has approx $100k owing on it and being rented out for $260p/wk. Great tennants.
iam thinking of buying a 2nd ip around the $350-$400k mark and fully financing the lot
now for the questions
1) Anyone know if iam budgeting reasonably for an extension job on ip#1?
2) would it be wise to fully finance ip#2? or should i workup some sorta deposit?
3) would you extend ip#1 or invest in ip#2?
Cheers and TIA.
Just wanted to throw a couple of tricky ones out there, im desperately needing some help/guidance from the more experienced ones.
Couple of quick facts:
I currently own 1 IP and it could probably do with a slight extension and a new kitchen. To be honest im not entirely sure how much id be up for such an extension however i envisage approximately $30k-$40k mark.
IP#1 cost $380k, has approx $100k owing on it and being rented out for $260p/wk. Great tennants.
iam thinking of buying a 2nd ip around the $350-$400k mark and fully financing the lot
now for the questions
1) Anyone know if iam budgeting reasonably for an extension job on ip#1?
2) would it be wise to fully finance ip#2? or should i workup some sorta deposit?
3) would you extend ip#1 or invest in ip#2?
Cheers and TIA.