What to do next?

Hi,

My wife and I have 5 properties between us in the Sydney metro, we are 35 yrs. We live in 1 and rent out the others. They are all on % only loans and have approx $100k in combined equity available to us. We supplement approx $200/wk to maintain the loans and receive negative gearing benefits, all were bought in our names with no trusts.

The next purchase we want is the family home and plan on purchasing approx $1.2 million house. With our equity we would have a deposit but our cash flow can not service the new purchase until our wages go up in the future in combination with the rents (this will take too long for us). We have considered selling a property but have gotten to the stage if we do it will actually lessen our cash flow, as such it does not help toward our goal to sell a property. Our super will not be able to be used as it has other purposes for the future. We have a shortfall of approx $600/wk if we were to purchase the $1.2 mill property and rent it out while we stayed in our current property. While the increased negative gearing would help to reduce a little it would not be enough to commit.

I want to know if anybody has any suggestions on how to achieve our goal in the next 1-3 years? And can anyone suggest a competent accountant in  Sydney to assist in tax minimisation and management?

Thanks,

Adam