I think I've finally found the right section to post this...
Situation:
- My husband & I are in our early 30s with a combined income of $220K - $300K p.a
- We have about $60K savings.
- Our own mortgage is about $1800/month
- We bought our PPOR in 2010 & 4 other properties subsequently.
- In this 5 years we have accumulated enough equity to pay off the PPOR & nearly 1 other IPs (haven't sold anything as of yet).
- The current equity I guesstimate is around $650K market value.
- All IPs averages down to break even mortgage/rental in high demand areas.
Question:
Given the current economic climate, which is getting crappier by the minute with rising unemployment rate & downward dollar.
Would you
1) Continue to take equity out to further invest in more IPs or
2) Use savings to invest or
3) Don't do anything at all
Thank you
Situation:
- My husband & I are in our early 30s with a combined income of $220K - $300K p.a
- We have about $60K savings.
- Our own mortgage is about $1800/month
- We bought our PPOR in 2010 & 4 other properties subsequently.
- In this 5 years we have accumulated enough equity to pay off the PPOR & nearly 1 other IPs (haven't sold anything as of yet).
- The current equity I guesstimate is around $650K market value.
- All IPs averages down to break even mortgage/rental in high demand areas.
Question:
Given the current economic climate, which is getting crappier by the minute with rising unemployment rate & downward dollar.
Would you
1) Continue to take equity out to further invest in more IPs or
2) Use savings to invest or
3) Don't do anything at all
Thank you