Howdy
Ive been given an oppourtunity to purchase a commercial Property for $90,000 that returns $250 per week we have 30K to throw into this, at the same time we want to purchase a T/house / house for around the $220,000.
Ive been told to use the equity that we will have in the Comm to obtain the finance for the residental (which we will be negative gearing) For the comm loan we have been offered at 7.5% and the residental at 6.5% through our broker. Both loans are going through on exactly the same day through the one bank. Our investment will be for long term hold looking for CG.
My questions are is this the best way to structure this loan? Should I be looking at setting one up as interest only and paying the other down?
Further information - we currenlty rent as we luv living near the beach in Sydney and wouldnt consider living anywhere else. We have very good disposable income and servicing these loans will be no problem for us.
The Comm property is in Adelaide
We are looking for a house T/house in the following suburbs
Hillbank Nth Subs Adelaide.
Seaford Sth beach Sub Adelaide.
Benowa Gold Coast.
Safety bay Sth Subs Perth.
Its great Ive found this site as the information is sensational I also have purchased and read many of the books that hjave been mentioned but I think I am more confused but I have decided on a long term strategy for CG and hopefully pick up a reasonable yield along the way as a bonus.
Cheers
Waz
Ive been given an oppourtunity to purchase a commercial Property for $90,000 that returns $250 per week we have 30K to throw into this, at the same time we want to purchase a T/house / house for around the $220,000.
Ive been told to use the equity that we will have in the Comm to obtain the finance for the residental (which we will be negative gearing) For the comm loan we have been offered at 7.5% and the residental at 6.5% through our broker. Both loans are going through on exactly the same day through the one bank. Our investment will be for long term hold looking for CG.
My questions are is this the best way to structure this loan? Should I be looking at setting one up as interest only and paying the other down?
Further information - we currenlty rent as we luv living near the beach in Sydney and wouldnt consider living anywhere else. We have very good disposable income and servicing these loans will be no problem for us.
The Comm property is in Adelaide
We are looking for a house T/house in the following suburbs
Hillbank Nth Subs Adelaide.
Seaford Sth beach Sub Adelaide.
Benowa Gold Coast.
Safety bay Sth Subs Perth.
Its great Ive found this site as the information is sensational I also have purchased and read many of the books that hjave been mentioned but I think I am more confused but I have decided on a long term strategy for CG and hopefully pick up a reasonable yield along the way as a bonus.
Cheers
Waz
