200k year investment strategy

hey everyone i have a income of 200k a year net, a IP in Darwin that was built to live in but my plans changed and i moved to Perth so now its a investment.

trying to think of what my next move should be. The IP in Darwin is worth $550k and rented out for $600 a week LTV is about 90%

i have 70k saved at the moment and am looking at doing something once i have 100k witch will be mid year.

should i pay down the Darwin property more? haven't really been trying to as its good for my tax return atm.

looking at buying a second IP around 500k that will get me some good CG and am not fussed about being negative geared. will 500K be enough or should i go more like around 600-650?

anything ideas will be good just thought i would start a thread while i read the others on here.

cheers max

 

?? Only the Vendor can decide what they will accept. What you pay will depend on what it is worth to you, alternatives you have and what oportunities are available at that particular moment. The more equity you can have when you buy will allow more equity to buy fast growing growth assets such as shares, allow diversity negate risk, will also give you more liquidity and more income if desired, and allow fast debt retirement or faster asset acquirement.