The next step

Hi

I have been reading many posts on this site and have found them very helpful.

I have one small IP in the Hunter purchased in 2003 for $130,000 interest only. It is now worth around $220,000 (conservatively). It it rented out at $190 pw.

I feel I am ready to do something more productive rather than having the house just sitting there but am not sure which investment step to take next.

My income is not great (self employed) so around $40,000 -$50,000 in salary but I have no big expenses as my partner pays for all major items. I am not sure how the banks would view the situation re lending me more money.

I have also become aware that the land on which the house is standing is subdividable as one block two houses down has been used to build two units after knocking down the original house. I understand that the process requires specialist skills and can take a lot of $.

I have been reading a lot but maybe got to the 'analysis paralysis' .

Given that I am obviously looking at low entry type of properties  and given the points above any comments would be appreciated – many thanks in advance