Hello to you all….
I have couple of questions and would be very grateful for any advice given. I have recently, like many out there, completed Steve’s book but I am still in the learning stage have a lot of questions/concerns.
Firstly my partner and I have been in our first home (borrowed $207000 now valued at over $320000) for about 18 months we have spent some $20K on renovations and have found the bank willing to fund an investment loan. we have no debts outside our home loan and within the next 2 years I will be receiving a gift of some 80K to 100K.
Now should I get in on the investments now, wait till the money comes in and not have to borrow over %100 for the loan or use the money to pay off my current home loan and borrow from the equity?
Secondly has anyone out there heard of this place
http://www.theinvestorsclub.com.au
I am a glass half full person and find there claims a bit dodgy.
Regards
ThierryWelcome to the Boards Thierry. Do a search on The Investors Club as there has been quite a bit of discussion on them.[glum]
If I knew then what I know now……….you know how it goes
Hi Slayer and welcome to the forum,
If i was in your shoes id be thinking of investing now using the equity in your ppor as i expect and hope housing prices will be higher in two years than they are now.
Which will give you hopefully equity as well as the 80-100 large your getting. Also the interest on your current ppor is not tax deductible so paying that loan down when you get the gift money would save you a lot of interest.
Again this is just my thoughts and there is some good finance advisers around which could be of bennefeit to go see.Regards Risky
If you want the rainbow youve got to put up with the rain!
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