Forum Replies Created
Hi Derek,
Thanks so much, these are the stories that i am after. On how others have done it.
There is a HUGE amount of overwhelming information out there and sometimes if your looking for something hard enough you will find it. In other words, my research can prove to be biaised sometimes
thats why i have started to ask to get different opinions and real life scenarios
Thanks
Yes, the kids equation does come into it. But for us, that is about 5 or so years away. The aim would be to have a few IP's and a nice PPOR by then.
The question i keep asking myself is if i look back from 5 years.
What would be the best financial position and how did i get there? i think the first steps are crucial, worse not making any at all.
I keep coming back to investing now and NOT getting into a PPOR until i can afford one that is worth spending the money to move into.
if i invest my savings now into the PPOR – i am out of action till i save another deposit for an IP.
Has anyone else done it the other way around? Buy a few IP's before getting buying the PPOR?
Thanks
LizHi all,
Thanks for your help!
Jamie – I like your advise on making a lump some gain first and then reinvesting this into an IP down the track. A question I have though, would it be better to get a interest only loan and save extra on the side or get a principle and interest loan? We intend on living in the PPOR for approx 18 months and then sell after renovations.
Derek, yes I think we might need to save a little more, how much would you say would be a comfortable amount to have set aside for a 500k loan? I think one thing I didn’t mention was how much rent we pay at the moment.We pay $2,400 a month in rent and as a household earn over 200k a year so repayments aren’t that much of an issue. But, I’d like to have some backup funds in case anything turns sour for any reason
Mattsta, thanks for your comment aswell.
Love to hear more feedback.
Liz
