All Topics / Help Needed! / Buying IP

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  • Profile photo of MarliMarli
    Member
    @marli
    Join Date: 2013
    Post Count: 1
    January 30, 2013 - 5:13 am

    I hv recently inherited  a small sum of money.Currently renting with my two very young kids.Am interested in getting an IP.

    What is the best scenario for me?Continue renting and get  an IP or buy a small place for us with the inheritance and save for IP later?

    Profile photo of Paul B.Paul B.
    Member
    @paul-b.
    Join Date: 2013
    Post Count: 70
    January 30, 2013 - 5:49 am

    I personally would look to set myself up with a PPOR first. This will provide some stability for you and your children and can always become an IP later on.

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271
    January 30, 2013 - 7:23 am

    There is no right or wrong answer until you have done the numbers on cashflow and any potentially benefits if you are a first home buyer.

    Look at all the incomes (negative gearing, rent, etc) vs the outgoings (rent, strata, etc). 

    What is the inheritance amount?

    Regards

    Shahin

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
    Email Me | Phone Me

    Residential and Commercial Brokerage

Viewing 3 posts - 1 through 3 (of 3 total)

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