Hello All,
This forum has provided me with alot of benefits and as a result this is my sisutation: Ive just turned 24 years old i have one IP being rented out at 230 a week. In saying that my repayments are 250 a week and i own the bank 150,000K with no other outstanding debts.
If my plan goes right i will have saved about 60k by next april.
The question is should i put the 60k on the house and only own the bank 90k??????? If so my rent will more then cover the repayment.
This will put me in a comfortable posistion, and conitue to work and maybe invest in a business the next year.
or would any of you suggest to invest the 60k in a new property???? I work in the freight forwarding industry and the importing sector is slowing down allot i belive a reccession is due has any one got any thoughts on this!!
cheers
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Never pay down an investment loan. Put the money in the offset account attached to the loan and save the same amount of interest
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
Good advice from Terry.
Ky
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