G’day Guys
Heres is my little senario…
I have 1 IP and I own my live in house, my IP is $280pw negitivly geared at present.
I am moving in 1.5 months to QLD (from NSW), we have been painting and cleaning up our live in property to possibly sell. Now the advice i would like is, because I own it what should I do with it, if I sell and rebuy in QLD i would be aprox 35k worse off than if I keep it, also I would get aprox 370 pw rent return on it (2 probs with renting – 1 inground pool – 2 nice gardens, )..Which way would or should I go before moving to QLD, sell both property’s and buy a large house in QLD in a good capital groth area (which is what my partner would like to do) or keep both and let someone else help pay for another 330k house in QLD which should bump up my portfolio to around 1million in asset[biggrin]…
AT this stage, we are about to sell both property’s
Thanks
CaseyOh I had to rejoin as my old name diddnt work, i will just say I have been scooping around for about 2.4yrs, on and off.. But I havnt contributed for about 2yrs…
Hi Casey
Might depend on what your medium term goal is:
Either:
(1) Continue investing now that you have established your portfolio, and grow your assets; or(2) Take all your profits, own your new PPOR outright with some cash left over after capital gains tax on your IP.
Or, which one allows both you & your partner to have peace of mind, without stressing (eg about interest rates, tenancy vacancies, etc.).
Gary
Author of “Property Millionaire, The Guidebook to Having Great Australian Dreams”
Creator of Property Millionaire – The Boardgame
http://www.888abundance.com
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