DH and I are just regular Joe blogs, both work 40hr weeks etc etc Seven years ago we decided to get an investment property to secure our future (wasn't only relying on this) Anywho we got one for $312000 seven years ago (used pvt house as equity and consulted "experts" as to weather or not his was a good investment) was told by our accountant to go interest only which we did.
We then decided interest only didn't work for us so started paying it down - we have paid off $30k - seven years later our $312000k house is worth around $230000k (if were lucky) I keep saying year after year to DH to just sit on it, it will work out in the end and he says cut losses and sell up and start again in a better area (meaning we would lose big time) At the moment we top up the mortgage around $150-200pw
I have no idea what to do, we are new to this and kick ourselves for listening to the people we did (experts YEAH RIGHT)
Who do we talk to? Any advise from anyone on here?
Thanks heaps
We then decided interest only didn't work for us so started paying it down - we have paid off $30k - seven years later our $312000k house is worth around $230000k (if were lucky) I keep saying year after year to DH to just sit on it, it will work out in the end and he says cut losses and sell up and start again in a better area (meaning we would lose big time) At the moment we top up the mortgage around $150-200pw
I have no idea what to do, we are new to this and kick ourselves for listening to the people we did (experts YEAH RIGHT)
Who do we talk to? Any advise from anyone on here?
Thanks heaps
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