Hey everyone,
I purchased my first PPOR (soon to be IP) recently and am looking at how/when I should purchase my 2nd. I paid $340 000 for the property, loaned $310 000 and currently owe $292 000. I had the bank who I got a loan through value the property at $385 000 when I brought it (6 weeks ago)
I am easily affording the repayments as I have a mate who has moved in paying rent and I also recieve a .65% discount on my variable rate as part of a corporate package through my works bank.
I am looking at buying a cheap positivley geared place between $150 000 and $200 000. Just wandering what the best way to go about this would be? I am planning on moving back home rent free as I'm only 21 and saving up but for the time being I would like to purchase a cheap place.
Can someone give me some ideas on how I would be able to do the above?
Thanks!
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