Forum Replies Created
Hi All..
Just want to thank you for your advice.. it is most helpful and appreciated. The idea of purchasing two more properties is exciting but really scary for me too, so what you all had to say was very helpful and encouraging.
I am visiting the town over the long weekend and plan to inspect some of the other properties for sale there. If you are interested I can post my thoughts of them when I return. Some of you might be interested in the cash on cash returns and personally if I can help my locals out with selling their houses I think it is a good thing.
regards
Nellthanks for your response.. yes I must make the postive income work for me and pay off my home mortgage. An accountant told me this evening that I should make all my investment properties (including the two I am going to purchase) interest only.. use the “passive” income from all properties to help knock off my personal home loan … call it a working class mentality but I have a fear of interest only loans.. but I know I need to reconsider this at least until my own personal home loan is down a lot more cos it is dollars out the door…
I am also wary of lendors having a contract over a lot of property investments.. which is why I am lairy of the concept of one lender having ownership of 3 of my properties.. one being my own home!
cheers
Nell
