Hi All,
Long time reader, first time poster here. I really value the insights and discussion that this forum provides to fellow investors and I hope I can contribute in the future!
A bit of background information about myself.
*26 Years old currently earning 60k pa;
*1 IP on the Gold Coast - Purchased $185k and owe $165k (negative geared approx $3k pa);
*1 IP in Toowoomba - Purchased $210k and owe $185k (negative geared approx 3k pa);
*Approximately $30k sitting in offset account (no other savings as I have been directing savings into this offset account);
*Want to retire at age 50 with $52k income (In todays Dollars)
*Live on the Gold Coast and would prefer to keep IP in SE QLD but this is not a necessity.
So... after not purchasing anything for 12 months I have been sitting on my hands not knowing what to do from here Should I pay down debt and wait for values to grow in current IP's? Should I buy another negative geared IP? Should I look at cash flow neutral/positive IP?
I would really appreciate some feedback and any advice is welcome!
Cheers
Cash Flows
Long time reader, first time poster here. I really value the insights and discussion that this forum provides to fellow investors and I hope I can contribute in the future!
A bit of background information about myself.
*26 Years old currently earning 60k pa;
*1 IP on the Gold Coast - Purchased $185k and owe $165k (negative geared approx $3k pa);
*1 IP in Toowoomba - Purchased $210k and owe $185k (negative geared approx 3k pa);
*Approximately $30k sitting in offset account (no other savings as I have been directing savings into this offset account);
*Want to retire at age 50 with $52k income (In todays Dollars)
*Live on the Gold Coast and would prefer to keep IP in SE QLD but this is not a necessity.
So... after not purchasing anything for 12 months I have been sitting on my hands not knowing what to do from here Should I pay down debt and wait for values to grow in current IP's? Should I buy another negative geared IP? Should I look at cash flow neutral/positive IP?
I would really appreciate some feedback and any advice is welcome!
Cheers
Cash Flows