Hello all
I would appreciate any advice from you guys in the know! I have been a long time lurker on these pages
I am 34 years old and currently have my own home and 2 Investment properties and although my friends think im some sort of investing guru, that could not be further from the truth!
I owe 200k on my PPOR in Glenmore Park, NSW that is valued by the bank at 540k
My first investment was acquired in Feb 2013 also in Glenmore Park a duplex for 317k. The loan on this is 288k .
This has now been valued at 435K and is rented for 400p/w
My second IPO was purchased in March 2014 a townhouse in St Marys for 330k, the loan on this is 264k .
This is now valued at 360k and rented for 380p/w
I also have a 120k line of credit that was used to help with the first 2 Investments
Here lies my issue I have been very lucky with the booming Sydney market.
I basically bought where I knew for the first 2 and feel as luck more than anything has gotten me to this point.
I am aware that I should diversify my holdings in different markets
My goal is to have enough passive income in 15 years to live off ( approx 60k -80k a year in todays terms) I dont expect a champagne lifestyle!
I have been approved a loan for 500k. I dont know if I should buy one property or buy 2 separate units/townhouses etc.
I am looking at QLD but have no idea where the best place to buy would be?
Anyone got any suggestions?
Prob sounds like a how long is piece of string type question but I dont know who else to speak to for advice!
Cheers everyone and thanks for reading any advice is welcome
I would appreciate any advice from you guys in the know! I have been a long time lurker on these pages
I am 34 years old and currently have my own home and 2 Investment properties and although my friends think im some sort of investing guru, that could not be further from the truth!
I owe 200k on my PPOR in Glenmore Park, NSW that is valued by the bank at 540k
My first investment was acquired in Feb 2013 also in Glenmore Park a duplex for 317k. The loan on this is 288k .
This has now been valued at 435K and is rented for 400p/w
My second IPO was purchased in March 2014 a townhouse in St Marys for 330k, the loan on this is 264k .
This is now valued at 360k and rented for 380p/w
I also have a 120k line of credit that was used to help with the first 2 Investments
Here lies my issue I have been very lucky with the booming Sydney market.
I basically bought where I knew for the first 2 and feel as luck more than anything has gotten me to this point.
I am aware that I should diversify my holdings in different markets
My goal is to have enough passive income in 15 years to live off ( approx 60k -80k a year in todays terms) I dont expect a champagne lifestyle!
I have been approved a loan for 500k. I dont know if I should buy one property or buy 2 separate units/townhouses etc.
I am looking at QLD but have no idea where the best place to buy would be?
Anyone got any suggestions?
Prob sounds like a how long is piece of string type question but I dont know who else to speak to for advice!
Cheers everyone and thanks for reading any advice is welcome