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We have come across an oppurtunity to secure a tenant on a 5 year lease, if we purchase a property in a specifc area which is worth just under a million, the purchase of the property would result in it being posistive geared even with a P&I loan. If the growth in the area is not predicited to rise significantly is it worth trying to "pump the cash into it" the IP or should we still be aiming at getting a interest only loan and trying to right off the tax?
Thanks for the reply Lalibella,
We are looking to expand quickly and with our current work situation , we are on a fly in fly out roster so there is always someone on break that can do research, and this will speed up the process compared if we were to do it individually, we have an exit stratergy of 9 properties within 3 years and when this is achieved we will evaluate the total and decide whether we sell all nine and divide the profits or if we divide the propertys up, 3 each. From there we can proceed individually in our investment endeavors
As for the set up we have each have enough cash saved, that combined would enable us to purchase an IP without using the equity in our homes.
