What direction would you take in my situation?

[suave2]

Hi All (wish everyone a Happy and Prosperous New Year!!)

My goal is to acquire positive cashflow properties by applying the principle of Problem + Solution = Profit.
I’m married, 36 yrs old and have just payed off my mortgage on a 2 bedroom unit in Ashfield, Sydney.
It’s valued at approxiamatley $290 000 and can bring in about $260 per week in rent.

My wife would like to purchase a nice sized family home using our equity as a deposit (up to $350 000) in Brisbane. The rest of the equity could be used to purchase other positive cashflow property which are pretty thin at the moment. This seems like a good idea considering we’ll need a home to live in and raise a family. We’d also have a relatively small mortgage with rent coming from my Ashfield property.! However there is no guarantee l’d be able to move to Brisbane due to my work based here in Sydney. I however am thinking of raising a family here in Sydney (whilst renting a house) and selling the Ashfield property. My justification for this is that I’d be locking in my profit and thereby increasing my cash reserves (considering the uncertain state of the Sydney market). I’d then have increased buying power to purchase property where I’d be able to apply the principle Problem + Solution = Profit.

What do others think of my strategy?? Do you think it’s reasonable?

“Everything you can imagine is real”.

Regards Jerry