A
Anonymous
Guest
From: Anonymous
Hi all,
My husband and I have about 4 IPs and recently bought into a property in Canberra where we intend placing a house on a dual occupancy block we bought for $80,000- our share- the total price was $198,000. The land is in Cook, a suburb showing strong capital growth, and we intend staying and working in Canberra for a while.
We've figured we can place a kit home on the Cook property for about $120,000 and it should be valued at around $250,000 once finished with gardens etc.
Meanwhile we've run up a $150,000 LOC which we'd like to clear- partly with the purchase of the Cook property and partly with deposits on other IPs.
We've been agonising about whether to sell a unit we have in Byron Bay which has increased in value from $210,000 in 1998 to $369,000 now.
We permanently let it for a while, but decided to try holiday letting and this has been very unreliable. Should we sell it and repay the LOC, or should we permanently let it and hang on.
Would any of you suggest what we possibly should do-
Thanks
Cynthia
Hi all,
My husband and I have about 4 IPs and recently bought into a property in Canberra where we intend placing a house on a dual occupancy block we bought for $80,000- our share- the total price was $198,000. The land is in Cook, a suburb showing strong capital growth, and we intend staying and working in Canberra for a while.
We've figured we can place a kit home on the Cook property for about $120,000 and it should be valued at around $250,000 once finished with gardens etc.
Meanwhile we've run up a $150,000 LOC which we'd like to clear- partly with the purchase of the Cook property and partly with deposits on other IPs.
We've been agonising about whether to sell a unit we have in Byron Bay which has increased in value from $210,000 in 1998 to $369,000 now.
We permanently let it for a while, but decided to try holiday letting and this has been very unreliable. Should we sell it and repay the LOC, or should we permanently let it and hang on.
Would any of you suggest what we possibly should do-
Thanks
Cynthia
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