To all,
I have enjoyed your forum.
A few weeks ago I read Jan Somers book,More wealth From Real Estate,while holidaying in New Zealand.
I had earlier this year attended a 3 day seminar in my home town of Melbourne on IP's
As I have mentioned in my post yesterday,I am considering purchasing 2 investment properties in ChCh New Zealand.(2 x $250,000,wth 10% deposit each)
I have $200,000 equity in my PPOR.(Value $650,000-mortgage $450,000/mainly incurred through previous business loans over last 16 years).
Have had approved a $100,000 LOC.Aust. (Subject to valuation-financier supports my objective of investing in NZ)
Salaries are $70,000 me and $55,000,my wife.Teenage twins at modest private school.
I am looking for CG and happy to avoid Aus. stamp duty.Like to refinance after say 2 years and buy another 1.
One complication is that my wife would like to have another child or two(has just turned 40).I support her in this venture and she supports me in the property investing.
However in 1 year we could lose her salary.I anticipate that it might be difficult to refinance with the one salary.
That makes me wonder if it is worth starting PI at all,given that after a couple of years the LOC may really need a revaluation of properties to prevent the IP's absorbing all the LOC.
Do you think that I can do this,given this contingency.
Or would other investments be more suitable?
Your reflections would be most appreciated.
I have enjoyed your forum.
A few weeks ago I read Jan Somers book,More wealth From Real Estate,while holidaying in New Zealand.
I had earlier this year attended a 3 day seminar in my home town of Melbourne on IP's
As I have mentioned in my post yesterday,I am considering purchasing 2 investment properties in ChCh New Zealand.(2 x $250,000,wth 10% deposit each)
I have $200,000 equity in my PPOR.(Value $650,000-mortgage $450,000/mainly incurred through previous business loans over last 16 years).
Have had approved a $100,000 LOC.Aust. (Subject to valuation-financier supports my objective of investing in NZ)
Salaries are $70,000 me and $55,000,my wife.Teenage twins at modest private school.
I am looking for CG and happy to avoid Aus. stamp duty.Like to refinance after say 2 years and buy another 1.
One complication is that my wife would like to have another child or two(has just turned 40).I support her in this venture and she supports me in the property investing.
However in 1 year we could lose her salary.I anticipate that it might be difficult to refinance with the one salary.
That makes me wonder if it is worth starting PI at all,given that after a couple of years the LOC may really need a revaluation of properties to prevent the IP's absorbing all the LOC.
Do you think that I can do this,given this contingency.
Or would other investments be more suitable?
Your reflections would be most appreciated.
