Hi,
I am very new at this and would like some advise from all the experienced investors out there. Well, we will be moving back to Melbourne at the end of the year after many years of living and working overseas. What would be the most sensible way to build our
cash flow?? We already own a fully paid off property estimated at $280K, currently collecting $680 per month. When we return, we will need to purchase another property for us to live in. From books I’ve read, it is not wise to put all savings into one property, but split it into several investment properties. But how am I going to support these properties plus the general living expenses? Since we are re-locating, our income would be reduced by half, we will still have small operations overseas initially to support our living. Also, what sort of information would the financial institutions require? Thank you for your ideas.Hi Jackie5
Welcome to the forum. That doesn’t sound like such a good return on your fully owned property. $170 per week?
Contact one of the Mortgage Brokers on this site, they’ll help you out re your finances. As for strategy, if you can’t afford to subsidise the properties in the short term, you’d be best looking at buying +ve properties.
Possibly don’t buy a PPOR for yourselves, as all this debt will be non deductible. Consider renting, and buying some more IPs, so that you can increase your cashflow. Then when your income picks up in Aust again, you could think about buying a PPOR.
Cheers
Mel
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