Which house would you keep

[NikkiB]

Thankyou to everyone who made suggestions and commented on this post.
Yes, definately got me thinking and I am going to try to retain all 3 properties

I will consider renting a house or buying a cheap house to live in.
From talking, there seems to be uncertainty with what is likely to happen with house prices, so am tempted to rent and sit on the fence until we see what is going to happen with market, my husband gets a job ect

It seems I am have my loans set up all wrong from an investment view
We are with NAB 2 loans are fixed and 1 variable, they are not Interest only
Is it worth considering refinancing with NAB or another bank (any recommendations?) to make savings??? would you fix all 3 prop, go interest only and spread over longest time ect ect? Can you add redraw and offset to an interest only loan?

Of we go down the route of renting a house and rent covered by Irish income, would you consider it a good idea to purchase another invest prop with our current protfolio and level of assets/indebtiness/income

I hope you dont mind, I am just bumping my thread back up, seems to have got lost.... Just in case there are some good people who were wanting to comment

 

[silversands]

Hi Nicki, now you're thinking straight, congratulations. As pointed out to you earlier,( I know I know, you've had so much to take in...) you would really benefit from talking to a mortgage broker.
SS is full of them, as after all this is a great place to drum up business! Some here really appear to know their stuff and one of them in particular has been a huge help to me just recently.
Maybe you really didn't know what you were getting into with investing in the past, (yep you just joined my club! ) but you can learn so much here - I really have.
I also think renting would be a great option for you for a while, what does your husband think? Have you shared with him any of the advice you have received here? I don't know about how the income from the farm will be viewed but you can find out when you start talking to the specialists in their respective fields. In summary try to relax and enjoy your new investment career, you've done well so far without even trying! Email your bank re offset account etc, should be no problem, or let the broker handle it for you.

 

[Waverlybay]

Hi NikkiB - i have to say ... for someone who claims to be "very nieve and dont have a clue what we are doing." - you have done well !

In addition to what others have suggested, this is what i'd be doing:

1) You are too under geared. You need to get your broker to organise some line of credits /redraw facilities on your properties. You will then have access to funds when the family income drops on your return to oz. BUT ...get the the locs/redraws while you and hubby still have an income - ie before October.

2) Difficult to comment on what you should do with your NAB loans without knowing what product you are on, your current rates, when the fix period expires etc. Sorry but you need to speak to a broker.

cheers
WB

 

[marg4000]

Hi Nikki

Have you considered moving into the Petrie house when you arrive here?

As you have been away for some time, this will give you a base to "get your bearings" and maybe discover where you would like to live.
Marg