Thanks so much for the great advise. I am very keen to hold on to these properties and I do believe in the capital growth of the area in which I bought. I can maintain the out of pocket expenses on the -ve’s, so I will now work on finding the +ve’s!!!

I’ve enjoyed reading your feedback and appreciated getting other people’s opinions.

I’ll keep visiting these boards, it’s a fantastic learning tool for me!

Thanks everyone …

Anne

Anne
Elite Sportswear

There is no such thing in life as a mistake … mistakes are really just new learning experiences in disguise.

Thank you so far … a little more of the story ….

We live in the South of Sydney and own our home (my life long ambition at 22 finally realised). We were able to build a dual occ here and hence our first IP. In 2004 I purchased 5 properties in a new developing suburb of Canberra. All properties were purchased on 80% loans … all loans are interest only loans.

Basically, the rents all cover the 80% loans and other fees, and we are responsible for the other money borrowed through our old redraw (approx. $30K a year).

I really don’t want to sell these properties as I have a 15 yr plan (now 14) on keeping them and selling them off for retirement! I do have the lingering thought of ‘a loss is a loss’…. but I’m so proud I bought them and finally did something!

One of my 4 children is disabled and long term financial security is of the utmost importance to us.

In simple terms I was wondering of anyone’s view to my situation?! Once I buy my first Steve Style IP … then I’ll be right! I’m a bit of a goer and like to do things whilst motivated! Would anyone advise to sell my Canberra places, or do you think I could move straight into Steve Style and do the balance?!

Thank you all,

Anne

Anne
Elite Sportswear

There is no such thing in life as a mistake … mistakes are really just new learning experiences in disguise.