Hi
My wife and I own several rental properties which we purchased before heading back to school to gain a degree each. All our properties are cash flow +.
We decided to buy property before going back into full time education after a few years travelling taught us that we need a foot in the door before making a 3 year, low income student lifestyle work......glad we did too!!
We finish our studies next year and would like to buy a family house as we rent at the moment. Does anyone have any pointers on either
a) Selling our properties to release funds for a family house?
b) Keep the rentals and borrow against the equity?
We have 2 main rules. One is that we need our family house mortgage to be serviceable by renting it out if we decide to travel again. Number two is that we have created $210,000 equity in two years but would be looking around the $350,000 price range for our own house.
Someone has suggested we sell up, buy our pad and then start the game all over again,borrowing against the family home equity?
Any tips would be great
Poi
My wife and I own several rental properties which we purchased before heading back to school to gain a degree each. All our properties are cash flow +.
We decided to buy property before going back into full time education after a few years travelling taught us that we need a foot in the door before making a 3 year, low income student lifestyle work......glad we did too!!
We finish our studies next year and would like to buy a family house as we rent at the moment. Does anyone have any pointers on either
a) Selling our properties to release funds for a family house?
b) Keep the rentals and borrow against the equity?
We have 2 main rules. One is that we need our family house mortgage to be serviceable by renting it out if we decide to travel again. Number two is that we have created $210,000 equity in two years but would be looking around the $350,000 price range for our own house.
Someone has suggested we sell up, buy our pad and then start the game all over again,borrowing against the family home equity?
Any tips would be great
Poi
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