Hi Newbie here facing age old dilema. My wife will inherit one half of a unit following the passing of her father.
Question
(a) Sell up unit and apply proceeds (approx $100,000) to 2-3 investment properties.(b) take out mortgage to buy out other sibling and rent property out (no cost to my wife as rent will more than cover mortgage and property will be cashflow positive) then apply equity in property (approx $100,000) to purchase other investment properties.
As a newbie I can’t see the forest for the trees! any suggestions??
Depends on whether you have previous experience with rentals. If this will be your first one, suggest your wife buy out her sibling. While this property is rented out, take the opportunity to look for others.
Depends on whether you have previous experience with rentals. If this will be your first one, suggest your wife buy out her sibling. While this property is rented out, take the opportunity to look for others.thanks for the reply. For (a) I see that we would have 100K for investment and for (b) we would have close to 100K for investment plus one property under our belt at no cost.
Hey ollie,
No right or wrong here. What is your aim in investing? Does this unit fit the plan ? What are the costs of selling the unit ? Can you get a revaluation to cash yourself up for more buys ?Good luck in the choices.
Enjoy
AD [:0)]
(Andrew)“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert EinsteinHey ollie,
No right or wrong here. What is your aim in investing? Does this unit fit the plan ? What are the costs of selling the unit ? Can you get a revaluation to cash yourself up for more buys ?Good luck in the choices.
Enjoy
AD [:0)]
(Andrew)“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein
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