Hello all,
I have spent the last 4 or so years lurking/reading on this forum and not contributing much. However, I am at an impasse.
Goal: 5 million in property assets (gross) by 2022 (Currently with just over 1 million in assets)
Strategy: Buy property in growth areas, properties that have value add potential.
We currently have equity that is been/has been drawn out. We could use this to buy now in a state other than NSW or we can sit on it and use it to buy in NSW once this mad rush dies down. Both are viable options with the 'safer' option being to buy now outside of NSW as it doesn't rely on waiting, or guesswork about the market. Waiting for the Sydney market to become more stable or waiting for (even a small) correction as per previous cycles seems riskier because it is a guessing game.
Can I ask for people's opinions/discussion to assist me and hubby in making a decision.
I have spent the last 4 or so years lurking/reading on this forum and not contributing much. However, I am at an impasse.
Goal: 5 million in property assets (gross) by 2022 (Currently with just over 1 million in assets)
Strategy: Buy property in growth areas, properties that have value add potential.
We currently have equity that is been/has been drawn out. We could use this to buy now in a state other than NSW or we can sit on it and use it to buy in NSW once this mad rush dies down. Both are viable options with the 'safer' option being to buy now outside of NSW as it doesn't rely on waiting, or guesswork about the market. Waiting for the Sydney market to become more stable or waiting for (even a small) correction as per previous cycles seems riskier because it is a guessing game.
Can I ask for people's opinions/discussion to assist me and hubby in making a decision.