Have a house which has gained a great deal of value. I still have a reasonable mortgage and have had a good price offered for my property. As I am fifty years young should I totally cash up buy another property to live in and have no mortgage and have money to invest in IP’s. I know the books say that if you want to get into property cash up, rent and go for it, however as I have a family, I am inclined to become debt free (mortgage) and use the remainder of my money to invest. Am I on the right track.
Why sell?
What about borrowing against your increased equity so you can keep your house and still buy investment properties?
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Sounds like a similar situation to mine. I thought I would have to sell my investment property to be able to buy more but was advised that I would be getting rid of a great assett. It increases my equity ans will help me to borrow for my next adventure.
wrp
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