Hello,
I am extremely new to this, in fact this will be my first attempt at investing. I'll let you know my scenario and I would appreciate any advice from people who have been there and done that. I have a chunk of money saved that I was going to look into an investment property, but recently my mother is going through a divorce. In order to save my mums house, I have offered to put up some of my cash so she doesn't have to move out. That plus her money from the divorce should allow her to stay in her house.
Now here is my question… Should I be borrowing that amount for my mother to free up my cash for another investment property?
I hear a lot of people saying cash is king, should I be using a interest only loan on my mothers loan? I obviously don't want to use that investment as equity or borrow against it. I have a good job that paying it off wouldn't be a problem, but my goal is to phase out of working to focus on investing as my career. I understand that the way that I structure in the beginning will save me a lot of money and time, hence why I would love some advice as to how I should do this to free up money for my next investment property.
Many thanks
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