Hi all - been a member for awhile - a lurker though...
OK - I am not doing any PI at the moment - but I am thinking of renting out my existing home and moving in with fiancee. Three things I'd like some friendly comments on:
#1 - I am going to have to top up my own mortgage by about $60 p.w. - several (non financial) people said that is too much and I would be better off selling outright. (This is taking all things into consideration and allowing a healthy 'fallback' margin. The property will be managed by a RE firm.)
#2 - In my situation (fully employed) - would you
consider the company / LAQC route? I have looked at it and it sort of seems more trouble/cost then it is worth for my specific situation - the tax credits would not be significant I don't think. For several properties maybe it is good but for one...?
#3 - Selling outright would pay off the mortgage and leave me a reasonably healthy sum to start doing some investing (I would invest 50% in a 2 year bond or something and devote the remainder to doing the RM or Massive Action course.)
Yep - I know this is prob not the true purpose of this forum but any pointers/comments would be appreciated all the same.
Respectfully
Groovebox
OK - I am not doing any PI at the moment - but I am thinking of renting out my existing home and moving in with fiancee. Three things I'd like some friendly comments on:
#1 - I am going to have to top up my own mortgage by about $60 p.w. - several (non financial) people said that is too much and I would be better off selling outright. (This is taking all things into consideration and allowing a healthy 'fallback' margin. The property will be managed by a RE firm.)
#2 - In my situation (fully employed) - would you
consider the company / LAQC route? I have looked at it and it sort of seems more trouble/cost then it is worth for my specific situation - the tax credits would not be significant I don't think. For several properties maybe it is good but for one...?
#3 - Selling outright would pay off the mortgage and leave me a reasonably healthy sum to start doing some investing (I would invest 50% in a 2 year bond or something and devote the remainder to doing the RM or Massive Action course.)
Yep - I know this is prob not the true purpose of this forum but any pointers/comments would be appreciated all the same.
Respectfully
Groovebox
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