Having found Steves advice and knowledge very valuable, I am usually quick to agree with his recommendations. However his latest newsletter in the wake of the latest interest rate rise suggesting to restructure portfolios to reduce debt left me a little confused. I bought my first investment property in perth 4 months ago which has made a very satisfying capital gains already and popular opinion here suggests the growth will continue in perth for some time yet before stabilising. Is Steve directing his advice to people with property in the eastern states or does he also suggest people in perth sell?
I am not sure Steve suggested selling. I know from various seminars etc, then he has suggested paying down loans, even on investment properties, so as to reduce risk.
Some of my clients have made spectacular gains in WA, with a few selling and paying the proceeds off their home loans. The market over there may keep rising for a while. Afterall, many in other states are now thinking WA is the place to go as it is the only place rising.
Just becareful as prices can drop if the boom suddenly stops.
Terryw
Discover Home Loans
Parramatta
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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