Expert Advice with Bryce Holdaway and Ben Kingsley. 23/09/2016
Alright! It is that time for another case study episode and we know how hard it is to visualise our investor’s profile so here is the brief:
: Young couple (mid-30s) with a young kid
: Combined income of $160,000 per annum
: Passive income of $80k - $100k
Money management habits
- A principal place of residence valued at around $300,000 with a mortgage of ~$200,000
- An investment property (House and Land Duplex) in Queensland for ~$500,000
- An investment property (House and Land package) in outer Brisbane for ~$400,000
: The first investment property was advice by an ‘education’ group. Although the yield is good, there are many hidden costs and growth had been lacking. The second investment property had a long settlement and just settled recently.
Thankfully, this couple is still keen to grow their property portfolio but what should they do next? How do they get the equity out and will the performance of the house and land properties be a hindrance to them moving forward?
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Disclaimer: while due care is taken, the viewpoints expressed by contributors do not necessarily reflect the opinions of Your Investment Property.
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