My situation is this: I have a flat in London that I can sell (would have about $330k) OR re-mortgage, which would scoop about $150k out of and keep the gearing neutral.
I've been tying myself in knots trying to decide what to do and as much as I'd love to sell and buy a family home, with such high house prices in Sydney and our variable self-employment (earn about $90k between us, 39 + 45 + 2 kids), I think the sensible thing to do with would be to keep renting & buy another investment properly, ideally neutrally geared.
I'd like to avoid strata fees if possible, they're so high in this country.
Does the investment strategy sound like a good option? If so – what and where in Sydney would be a good investment?
Thank you!
Hi MrEskimo
For that pricerange, you'll likely be looking in the outer Western suburbs of Sydney. That said – remember… it is an investment property. You won't be living in it. It therefore does not need to be just down the road from where you are living. You could for instance acquire something interstate with an appropriate pricetag and yield.
ps Remember you can also acquire property through a SMSF (Self Managed Super Fund).
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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