What to do?

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From: Matthew Heron


Hi,

I am new to this forum and need specific advice on what to do with a house deposit.

I am an Australian citizen working overseas. I have a home deposit of $70,000.

I can buy a rental unit for $70,000 which will rent for $120 a week consistently or use it as a deposit on a $200,000 house that will rent for $220 per week but have a loan.

As I do not reside in Australia and do not intend to for many years am I best to buy the cheaper property and borrow against it to buy the more expensive one as well or buy the more expensive and concentrate on paying the loan out.

I have approx $2000 per month of repayment capacity.

Cheers

Matt

 

[Rolf Latham]

Reply: 1
From: Rolf Latham


Hi Matt

You are an expat working OS. No rpblems getting a loan. Get some advice on what you can borrow from an independent broker.

I would then look at setting myslef up in such a way that my investment is just running in a neutral psoition.

Ta

Rolf