Viewing 1 post (of 1 total)
A friend of mine has worked hard and has managed is living in a property worth appprox 250k oweing 90k is seeking
advice /opinions about possible scenarios for the future.Option 1 – Buy another property on the equity and struggle to make the repayments ( low income) whilst being unsure about the possible "even or Flat " market conditions after such strong growth for a sustained period.Option 2 – Rent this property Out and seek cheaper rental accomm (if available/if cheaper) and divert all extra funds and tax benefits to property to pay mortgage as quickly as possible and be in good position for future buyers marketOption 3 – Rent this one out and buy another to live in using all cash flow to hold second property and hope for capital growthMy friend is thinking that paying down the debt is the best option 2 but is a conservative personality wiseI think option 3 is bad tax wiseThanks for the repliesTrace
Viewing 1 post (of 1 total)
You must be logged in to reply to this topic. If you don't have an account, you can register here.
