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Wow ! Thanks for all the insight and time taken to explain the various approaches.
It has helped me to understand a lot more as to why it is done differently.
Not being one akin to debt, I will be paying off the loan as quickly as possible for the IP.
Thanks again for all the contribution.Scot.
I do not have an exit strategy…….as yet anyway.
I am hoping that with the property investments, I would not have to worry about where the money would come from.
That is when I want to stop working.
I could pass on the properties to my children when I am gone.I prefer to pay off the mortgage as quickly as possible.
So with investment properties, regardless of the negative gearing, is it a wise move to do that ?
Some friends say I would be tying up my resources/money when i could be using it for another property etc.
But wouldn't the equity be building up as well, and that could be used to buy another house ?gips
I am in a very similar situation as you.
Just started looking at property investment, and not finding it that straight forward and easy.My situation.
PPOR fully paid up. Est 1M.
Running own biz, paying myself $70K, Wife $35K.
Biz is not fantastic but churns out profit abt 120k per year after all expenses.
The biz will be the cash cow.Line of thot, somewhat inspired after reading abt property investment stories.
Buy some hses, rent out, retire without a worry.
Prefer to buy and hold.
Any advice ?
Thanks.
