Hi Guys.
My and my wife are a DINK couple thinking about getting into some sort of investment, we are generally pretty average about keeping our hands out of the cookie jar so property sounded like a good way to go. We have recently had 3 couples that we know get into PI in various level, and they seem pretty happy with the move.
I guess I just wanted some validation that its not a stupid idea in our situation, we have a combined income of around 160K p/a and are pretty young so just starting out in life (mid 20's). We have a home that we purchased about 2 years ago on a 95/5 loan (small deposit, I know, remember the part about not keeping our hands out of the cookie jar, lol) and have been making steady progress on that front. we purchased the house for around 280K and have recently had it evaluated for around 340k-380k depending on who you listen to.
Anyway we are getting a good friend who is a mortgage agent to come around next week and let us know our options, but with rates the way they are and property seems to be at a premium I guess I'm just chasing some validation. Reading many of the posts it looks as tho the long term investors (the ranks of which we wish to join) aren't too phased by the lay of the land at the moment.
I've been pretty spurred on by all these people who keep saying that the first one is the hardest so I guess I'm ready to take the risk, we have a pretty good cash flow and could sustain a period of no one leasing the property, but yeah.. let me know what you guys think.
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