Hi, I would like someone to talk me out of this, please....
I am considering purchasing a studio apartment in Ultimo. I can purchase one outright with cash - I have about $220,000. The returns are so much higher than leaving money in the bank.
My goal is to live overseas long term from the rent. I can't achieve this with bank interest, but can with an Ultimo apartment's rent.
I'm not sure why this isn't a good idea. Please can anyone give me good reason for caution.
Thanks,
Sureline
I am considering purchasing a studio apartment in Ultimo. I can purchase one outright with cash - I have about $220,000. The returns are so much higher than leaving money in the bank.
My goal is to live overseas long term from the rent. I can't achieve this with bank interest, but can with an Ultimo apartment's rent.
I'm not sure why this isn't a good idea. Please can anyone give me good reason for caution.
Thanks,
Sureline