Hi guys, thanks to the many who have already helped with advice and dealt politely with my private messages thus far!!
We are seeking some advice or comment on our strategy moving forward. Our current situation with 3IPs is:
Value = $1mill
Loans = $760K
Offset = $100k
Combined rent = $1060 /week
Combined income = 200k
Comfortably saving 4-5k each month after all expenses
We are a 32/33 yr old couple who will consider starting a family in the next 1-2 yrs. The above properties are in a quiet coastal area where I expect CG will be minimal. I built these in the area I grew up in as it was a comfortable start for me at the time.
Moving forward with our strategy we want to purchase long term holds with CG in mind. We are considering releasing about $120k in equity which will take our LVR to approx 88%. With this we intend to look to purchase 2 properties this year around a value of 300-450k each at 90% LVR. We are considering properties in Brisbane and would look to houses/villas/townhouses. We are considering properties that can either have value-add potential or are newer to maximise tax deductions and minimise maintenance. After this we will consider selling one of the original IPs as it is still considered our PPOR, to avoid CGT and allow for future purchases.
We would love to hear people's thoughts/opinions on our situation, especially with respect to:
90% LVR - would others consider being more aggressive at this stage considering our offset/monthly savings.
Anyone having been in a similar situation in planning to start a family.
The value-add vs newer debate
Our offset figure, we hope to have this at 130/140k by years end. We feel comfortable with this but would like other opinions.
Thanks in advance,
We are seeking some advice or comment on our strategy moving forward. Our current situation with 3IPs is:
Value = $1mill
Loans = $760K
Offset = $100k
Combined rent = $1060 /week
Combined income = 200k
Comfortably saving 4-5k each month after all expenses
We are a 32/33 yr old couple who will consider starting a family in the next 1-2 yrs. The above properties are in a quiet coastal area where I expect CG will be minimal. I built these in the area I grew up in as it was a comfortable start for me at the time.
Moving forward with our strategy we want to purchase long term holds with CG in mind. We are considering releasing about $120k in equity which will take our LVR to approx 88%. With this we intend to look to purchase 2 properties this year around a value of 300-450k each at 90% LVR. We are considering properties in Brisbane and would look to houses/villas/townhouses. We are considering properties that can either have value-add potential or are newer to maximise tax deductions and minimise maintenance. After this we will consider selling one of the original IPs as it is still considered our PPOR, to avoid CGT and allow for future purchases.
We would love to hear people's thoughts/opinions on our situation, especially with respect to:
90% LVR - would others consider being more aggressive at this stage considering our offset/monthly savings.
Anyone having been in a similar situation in planning to start a family.
The value-add vs newer debate
Our offset figure, we hope to have this at 130/140k by years end. We feel comfortable with this but would like other opinions.
Thanks in advance,