Financial advice please. 38/M
I have recently bought an investment property. To get on the ladder I borrowed the deposit. So I’m paying rather large outgoings every month as it’s mortgage plus a personal loan.
I save my annual bonus and now have $75k USD in equities which is rallying nicely. With current payments I can clear the balance of the loan for the deposit in 6mths. This would be $160k paid off in three years from monthly payments and a lump su payment.
Now if I clear the loan, I can then run the same process again, and get a family house as planning to have children soon.
I’m just conscious that with equities, that $75k will be 100k shortly and the continuation of growth maybe more financial beneficial than buying a small family home.
So the question is, do I deplete my stocks, clear the deposit, run the fame process again on the family home or do I keep renting cheap place, and build the portfolio
There is a human question here too. Having your own place, improvements etc, is comforting so there is a non financial component too with nesting.
Posted by Weak-Treat-2552
2 Comments
> Having your own place, improvements etc, is comforting so there is a non financial component too with nesting.
So you get to decide where you want to spend your money on your human factors.
A question only you can answer. With that being said, if you really want to kick start this whole thing buy a multi unit and live in one of them. The power this has to kick start your real estate investment portfolio is profound. Do it multiple times if you can. Get comfortable being uncomfortable and it will pay dividends.