Hello, I hope that title doesn't sound too tragic! Basically i'm looking for advice on when to make our next property investment My husband and i are both 29 and recently sold our POPR in January and made a profit of $200,000 (roughly) after all was said and done. We also own an IP in the NSW snowfields that is now paid off due to this profit We've both just quit our jobs to travel for 6 months and when we get back are hoping to sell the IP and (hopefully) profit about $150,000 from that My questions is, even with a considerable deposit afforded to us through the sales of these properties, i still have this niggling feeling that we should wait to buy out next home? We are looking to buy in the South West Growth area and hoping to spend around $700,000 - $750,000. Does anyone have any advice on what we should do? We would be looking to buy March 2018 at this point in time, we are now considering rentvesting? Just a bit confused
[Q UOTE="Loogle, post: 464291, member: 3703"]Hello, I hope that title doesn't sound too tragic! Basically i'm looking for advice on when to make our next property investment My husband and i are both 29 and recently sold our POPR in January and made a profit of $200,000 (roughly) after all was said and done. We also own an IP in the NSW snowfields that is now paid off due to this profit We've both just quit our jobs to travel for 6 months and when we get back are hoping to sell the IP and (hopefully) profit about $150,000 from that My questions is, even with a considerable deposit afforded to us through the sales of these properties, i still have this niggling feeling that we should wait to buy out next home? We are looking to buy in the South West Growth area and hoping to spend around $700,000 - $750,000. Does anyone have any advice on what we should do? We would be looking to buy March 2018 at this point in time, we are now considering rentvesting? Just a bit confused[/QUOTE] Sounds like tough times hope you are OK
All depends on your goals. Do you want to build a property portfolio and continue to build wealth or buy a PPOR for a premium price and most likely slow any wealth creation plans considerably. Anyway you both don't have jobs now so any plans to build wealth or buy a 750k home won't happen unless you have the entire sale amount.
You won't be able to do anything for the moment with minimal income - go and enjoy your trip, rent for 6 months when you get back and use the time to suss everything out. You don't need to do anything right away.
it is too early in the piece to say what you can or can't do, there are so many uncertainties here, just to name a few: 1. your and husband's future incomes 2. family planning 3. lending environment 4. property market ( of your targeted market and the market where you want to sell) you both are very young, plenty of opportunities. enjoy your trip, assess the situation when you back. have a nice holiday
