We almost own our home outright, would value it around 750k. Looking down the track, hubby currently earns 100k, I'm a stay-at-home mum who plans to go back to study next year, then swap places with hubby but income wil probably reduce to about 50k+.
We have an investment property where the rent is just about paying the interest and outgoings. After mainly nightmare tenants and maintenance, it seems we have struck it lucky with a good stable tenant.
So we said "Never again" but now maybe we'll change our minds ....
Looking for another investment property isn't the question, but including my daughter in the process is. She's only 18, is at uni and works part-time. I wanted to look at options to get her into the property ladder, perhaps even renting it out so that she can have the benefits of negative gearing.
I understand we could go guarantor loan but in this case we'd probably be taking on a very large chunk of the loan seeing that she only works part-time?
I would be happy to use the equity, or put another mortgage on our home to qualify for an investment loan, but would rather not have to increase our existing mortgage in any way.
Easiest might be for us just to buy an investment property in our name as we would get all the benefits of negative gearing but I would still like to see what the options are in helping my daughter purchase in her own name. Thanks
We have an investment property where the rent is just about paying the interest and outgoings. After mainly nightmare tenants and maintenance, it seems we have struck it lucky with a good stable tenant.
So we said "Never again" but now maybe we'll change our minds ....
Looking for another investment property isn't the question, but including my daughter in the process is. She's only 18, is at uni and works part-time. I wanted to look at options to get her into the property ladder, perhaps even renting it out so that she can have the benefits of negative gearing.
I understand we could go guarantor loan but in this case we'd probably be taking on a very large chunk of the loan seeing that she only works part-time?
I would be happy to use the equity, or put another mortgage on our home to qualify for an investment loan, but would rather not have to increase our existing mortgage in any way.
Easiest might be for us just to buy an investment property in our name as we would get all the benefits of negative gearing but I would still like to see what the options are in helping my daughter purchase in her own name. Thanks