Hi to all gurus,
As per title, like to seek opinions from experts ... Been thinking wat should I do for my next phase in life.
About myself.. Married, no kids , dual income ~ $16k . Savings ~ 150k. Currently owns 2 apts - 1) fully paid apt 99 yr . 2) also 99 yr apt w loan of 700k, tenanted .
Would like to purchase another apt so that we can rent out n perhaps my wife can work part time n be a landlord . But reading another post by forumer, that it's almost impossible unless we r so cash rich, but then again do we want to plonk all our savings of 500k or more to get another place? That 's if we even managed to save that much in the first place.
Been staying in my current place for almost 10 yrs. condo is almost 20 yrs old in suburbs. Been wanting to change to a newer place, a freehold apt, preferably sea-facing
- n that would mean selling current place, solely under my name.
The 2nd apt is co-owned. Which means I hav to pay ABSD if I sell n buy again.
Another way is to sell both, buy one freehold for own stay n wait to buy another one for investment.
Wat would u do? I'm in my 30s . I guess this will be one of the major decisions that i ll be making... Maybe affecting whether we can retire comfortably later in life.
Rgds