i have just bought a new house and owe about 98,000 but have about 60,000 in equity on it,it would probably be worth about 180-190,000 at moment..The house mkt here is going thro a boom at moment…would it be a good move for me to borrow the full amnt on another house useing the eguity to secure the loan and positive gear it as a rental investment,,,any advice pls as i am a dummie in the prop mkt,,but my super isn’t worth two bob,,trying to secure an investment to retire on,,,,,cheers another damn ‘BABY BOOMER’
That is certainly a popular strategy and there are a number of ways to structure finance to suit. I wouldn’t give any more advice without knowing you and your situation better.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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